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.

paint drippings art industry news feb 16

This week's art industry news covers significant developments across fairs, auctions, galleries, and museums. Frieze New York announces its 15th edition with a strong Latin American gallery presence, while the India Art Fair reports robust sales, including works by Atul Dodiya and N.S. Harsha fetching up to $600,000. Sotheby's will offer a major Francis Bacon self-portrait from the collection of Joe Lewis, and Christie's is set to sell three masterpieces from Agnes Gund's collection, estimated at over $123 million. Gallery news includes Federica Beretta's return to Opera Gallery and David Zwirner's new representation of painter Louis Fratino.

Art Industry News: November 1, 2021

art industry news nov 1

The global art landscape is undergoing significant shifts, from the cultural erasure facing Afghan artists under Taliban rule to a surge in grassroots restitution efforts led by organizations like the Nepal Heritage Recovery Campaign. Meanwhile, major institutional moves include the appointment of Julieta González as artistic director of Brazil’s Inhotim and the opening of the Nesr Art Foundation in Luanda, Angola, which aims to bolster the local contemporary art scene through residencies and private collection displays.

French Engineer Snags $1 Million Picasso With $116 Raffle Ticket

French engineer Ari Hodara has won a 1941 Pablo Picasso painting titled 'Tête de Femme' through a charity raffle after purchasing a single €100 ticket. The draw, held at Christie’s Paris, sold 120,000 tickets globally and raised €12 million for the Alzheimer’s Research Foundation. The artwork was sourced from the Opera Gallery, which will receive approximately €1 million of the proceeds.

When The Gallery opened, it sparked a revival that changed Pioneer Square forever

Foster/White Gallery is celebrating its 60th anniversary as a cornerstone of Seattle’s Pioneer Square, a neighborhood it helped transform from a derelict district into a thriving arts hub. Founded by Richard White in 1966, the gallery became a pioneer in the area, representing legendary Northwest School artists like Morris Graves and Mark Tobey. Despite the recent closure of other long-standing neighborhood staples like Davidson and Linda Hodges galleries, Foster/White remains a symbol of continuity and resilience.

picasso global raffle alzheimers research christies

A charity raffle organized by France's Fondation Recherche Alzheimer offers participants the chance to win a Pablo Picasso painting valued at €1 million ($1.2 million) for a €100 ticket. The work, a 1941 gouache on paper titled *Tête de femme*, will be drawn on April 14, 2026, at Christie’s Paris. The raffle is the third of its kind involving a Picasso to support charitable causes, following previous editions in 2013 and 2020 that each raised €5 million for different organizations. The initiative was spearheaded by French TV host Péri Cochin, with the support of the artist's late son Claude Picasso.

edgar davids art collection theft

A London court heard that Edgar Davids, the former Netherlands soccer star known as “the Pitbull,” was defrauded by a trusted friend who allegedly stole his $255,000 art collection. Nabila Habiby, who had keys to Davids’ mansion, removed 37 artworks—including 33 pieces by Paul Insect and two by Ron English—and pawned them for loans totaling just $42,800. When she failed to repay, pawnbrokers sold the works at auction. Davids only discovered the theft in 2017 after a buyer in Hong Kong contacted him via Instagram. Habiby admitted to two counts of fraud and faces up to 34 months in prison.