Rare ‘Ocean Dream’ Diamond Sells for Record $17.3 Million at Christie’s

A rare 5.5-carat blue-green diamond known as the 'Ocean Dream' sold for $17.3 million at Christie’s Geneva jewelry sale, setting a record for a fancy vivid blue-green diamond at auction. The sale far exceeded its presale estimate of $9 million to $13 million after a 20-minute bidding battle. In other auction news, Sotheby’s New York sold over $433 million worth of art in its contemporary art sales, including 11 pieces from the Robert Mnuchin collection. Meanwhile, London’s Wellcome Collection agreed to return around 2,000 sacred Jain manuscripts to the Jain religious community under a new restitution framework, acknowledging they were acquired unethically. Several art fairs were announced, including Zero 10 curated by Trevor Paglen at Art Basel in Switzerland, CAN Art Fair Ibiza’s fifth edition, and Art-o-rama’s 20th edition in Marseille. Notable gallery news includes the bankruptcy and closure of French gallery Air de Paris after 36 years, and Carine Karam becoming director of Opera Gallery’s New York outpost. Hong Kong’s M+ and Paris’s Centre Pompidou announced a multi-year strategic alliance, and New York’s Frick Collection entered a three-year partnership with Louis Vuitton.

New York’s Neue Galerie to Merge with Metropolitan Museum of Art in Major Expansion

The Neue Galerie, a private museum on New York's Upper East Side founded by collector Ronald S. Lauder, will merge with the Metropolitan Museum of Art in 2028. The institution will be renamed the Met Ronald S. Lauder Neue Galerie, or Met Neue for short. Lauder and his daughter Aerin Lauder Zinterhofer will contribute funds toward a $200 million endowment, along with 13 works from their collection, including a prized Gustav Klimt and paintings by German Expressionists. The Met plans to exhibit some holdings at its Fifth Avenue base, but Klimt's "Portrait of Adele Bloch-Bauer I" will remain at the townhouse.

Artists Spar Over Credit For A Dress Displayed In The Met’s ‘Costume Art’ Exhibition

London-based artist Anouska Samms has accused the Metropolitan Museum of Art's Costume Institute of exhibiting a dress that she claims is a counterfeit of her work in the ongoing "Costume Art" exhibition. The dress, titled Corpus Nervina 0.0, is credited solely to New York-based Israeli designer Yoav Hadari, but Samms alleges it closely resembles an earlier Nervina hair dress she co-developed with Hadari during their 2023 residency at the Lee Alexander McQueen Sarabande Foundation. Samms discovered the display via a social media post and has since spoken out, noting that a contract from their collaboration designated her as the sole owner of the intellectual property of the fabric. The Met has requested that the two parties resolve their dispute before the museum takes further action.

A Blade of Grass Names 2026 “In Fellowship” Cohort

New York-based arts nonprofit A Blade of Grass (ABoG) has announced the three members of its 2026 In Fellowship cohort: Emily Johnson / Catalyst, The Projects/Space, and UNDOC+Collective. Each fellow receives $25,000 in support and a $25,000 honorarium for their socially engaged practices. The fellowship, established in 2025, focuses this year on gathering as a form of movement building and resource distribution.

Controversial art show canceled at NY archdiocese venue finds home at Jesuit parish

Jesuit artist Nicholas Leeper's solo exhibition "Twilight of the Idols," which blends Byzantine iconography with pop art and advertising imagery, was abruptly canceled by the Sheen Center for Thought and Culture in New York about two weeks before its scheduled opening in May 2026. The center, founded by the New York Archdiocese, cited phone calls and emails expressing concern about the work, which includes pieces like "Madonna and Child (Tomatokos)" depicting Mary as a Campbell's soup housewife and "The Visitation" reimagining Mary and Elizabeth in a cigarette ad. Within a day, the exhibition found a new venue at the Mary Chapel of St. Francis Xavier Church, organized in partnership with Xavier High School, where Leeper teaches.

Kazakhstan's creative industry accelerates. A new foundation supporting the art scene emerges

L’industria creativa del Kazakhstan accelera. Spunta una nuova fondazione che sostiene la scena artistica

A new private foundation called TOVA Foundation, based in Geneva, has been established to promote contemporary art from Central Asia, specifically focusing on Kazakhstan's art scene. The foundation debuted at the Venice Biennale with an exhibition titled "Trading Treasures" featuring Kazakh artists Saule Suleimenova and Sayan Baigaliyev at Casa dei Tre Oci. The initiative is backed by Togzhan Wertheimer, a Kazakh-born entrepreneur and philanthropist connected to the fashion industry through her husband David Wertheimer, and includes a board with figures like Tatiana de Pahlen and art consultant Jean-Olivier Despres. The foundation's curator is Vladislav Sludskiy, who previously worked at Ethan Cohen Gallery and co-founded the ARTBAT FEST and Eurasian Cultural Alliance.