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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.

wet paints summer guide 2025

Artnet News' Wet Paint gossip column presents a selective summer guide for the art world, highlighting key exhibitions and social hotspots. In Manhattan, the Upper East Side offers the Park Avenue Armory's Diane Arbus photo exhibition, the Met's John Singer Sargent show, and the newly opened Frick with its Westmoreland café. Downtown, Bar Oliver in Two Bridges has become an art world haunt, co-created by Olmo and Cy Schnabel. The column also previews themed group shows: "Hope is a dangerous thing" at P.P.O.W. and "CAKE" at Olympia Gallery, featuring edible artworks. Exclusive news reveals the engagement of Lucas Zwirner to Charlotte Lindemann, merging two powerful art-dealing families. Additionally, Sky High Farm in Germantown, New York, is launching a new biennial with works by Anne Imhof, Rudolf Stingel, and Felix Gonzalez-Torres.

art galleries closing museum restaurants wet paint

Artnet News' Wet Paint column reports a wave of gallery closures and rumors in New York's art scene. Blum and Venus Over Manhattan have recently shut down, while Clearing's Bowery space temporarily became a Tank Air clothing pop-up, not a permanent closure. Micki Meng sent a cryptic 'I'm quitting' email but clarified it was a reference to Marcel Duchamp, not a business closure. Jack Barrett Gallery is relocating, not closing, and Tramps has closed its Washington Square Park location while planning a new Paris outpost. Jack Hanley, who closed his gallery in January, is now painting in the Hamptons.

Louvre Reveals Architects for $1 Billion Expansion

The Louvre has announced an international team of architects—New York's Selldorf Architects and Studios Architecture Paris—to lead its "Nouvelle Renaissance" expansion, a project estimated to cost over €1 billion ($1.2 billion). The plan, first announced by French President Emmanuel Macron in early 2025, includes a new entrance to accommodate three million additional visitors annually and a dedicated 33,000-square-foot exhibition space for Leonardo da Vinci's *Mona Lisa*. The museum's new director, Christophe Leribault, is moving forward with the project despite significant budget uncertainty, with cost estimates ranging from €270 million to €1.1 billion.

new whitney ready to take on moma

The Whitney Museum of American Art is preparing to move into a new Renzo Piano-designed building in New York's Meatpacking District, set to open to the public about a year from now. The new downtown location is vastly larger than its current Marcel Breuer building on Madison Avenue, with 50,000 square feet of indoor exhibition space—a 33 percent increase—and a total of 220,000 square feet, nearly triple the size of the old space. The museum's best attendance year was 372,000 visitors in 2009-10, far below MoMA's 3.22 million that same year, but the new building's proximity to the High Line and tourist-heavy neighborhood is expected to dramatically boost visitor numbers.

Tokyo Architect Kengo Kuma Beats Out Renzo Piano and Selldorf to Design National Gallery’s £350 M. New Wing

The National Gallery in London has appointed Tokyo-based architect Kengo Kuma to design a new £350 million wing as part of its ambitious £750 million "Project Domani" expansion. Kuma, known for the V&A Dundee, beat out high-profile Pritzker Prize winners Renzo Piano and Norman Foster for the commission. The project involves the demolition of St. Vincent House to create 15,000 square feet of new exhibition space dedicated to 20th and 21st-century art, along with new pedestrian zones and a roof garden.

From hard borders to soft power: how did the art world fare in 2025?

The article surveys the art world's turbulent 2025, beginning with devastating Los Angeles wildfires that destroyed artworks and the political shockwaves of Donald Trump's re-election. Trump's administration targeted the National Portrait Gallery, whose director Kim Sajet resigned after threats of firing, while immigration crackdowns, tariffs on art imports, and attacks on diversity initiatives chilled the art community. The year also saw Venice residents protest Jeff Bezos's lavish wedding, Trump's gilded Oval Office renovations, and a major Veronese exhibition at the Prado that drew parallels between historical extravagance and decline.

Frick Inks Three-Year Partnership with Louis Vuitton, with Support for Exhibitions and Free Fridays

The Frick Collection in New York has announced a three-year partnership with Louis Vuitton, under which the fashion house will sponsor three upcoming exhibitions, a curatorial research associate position, and a year of the museum's free First Fridays program. The partnership launches with Louis Vuitton's Cruise 2027 collection show, designed by Nicolas Ghesquière, held in the Frick's first-floor galleries on May 20. The sponsored exhibitions include “Siena: The Art of Bronze, 1450–1500” (fall 2025), “Painting with Fire: Susanne de Court and the Art of Enamel” (spring 2027), and a third exhibition on 19th-century paintings (late 2027). The Louis Vuitton Curatorial Research Associate will be Yifu Liu, currently a curatorial fellow at the Frick, who will research Asian porcelain and cross-cultural exchange between Europe and China.

Expansion plans for Rome's Galleria Borghese draw fierce response

Rome's Galleria Borghese, a 17th-century villa museum housing masterpieces by Caravaggio, Bernini, and Canova, is facing controversy over a privately funded feasibility study for a potential expansion. Sponsored by Italian engineering firm Proger, the €900,000 initiative would fund an international architecture competition to explore adding exhibition and visitor space to the Villa Borghese Pinciana grounds. Museum officials cite operational constraints: the historic interiors limit access to 360 visitors per two-hour slot (about 4,000 daily), reservations require weeks of waiting, many works remain in storage, and accessibility is poor. Visitor numbers hit a record 630,760 in 2025, up from 506,000 a decade earlier. Preservation groups including Italia Nostra Roma and Amici di Villa Borghese have objected to any new construction in the sensitive historic landscape. Director Francesca Cappelletti emphasized at a May 18 press conference that no project exists yet and the museum is only beginning a study process, with a winner possible by year's end.

matthew christopher pietras death by suicide

Matthew Christopher Pietras, an arts patron who pledged millions to the Metropolitan Opera and the Frick Collection, died by suicide on May 30 in his Manhattan apartment, as ruled by the New York City medical examiner. His death was attributed to acute intoxication from a combination of prescription drugs. Pietras had made a $15 million pledge to the Met Opera, but when he attempted to transfer $10 million, the transaction was flagged as fraudulent, and it was later revealed that the funds belonged to the Soros family, not to Pietras himself. He worked as a financial manager—or, more accurately, a personal assistant and property manager—for Gregory Soros, the youngest son of billionaire George Soros.

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A rare jewellery box identified in Vermeer paintings sheds new light on the artist’s connections

New research by curator Alexandra van Dongen of Rotterdam’s Boijmans Van Beuningen Museum reveals that a rare Indo-Portuguese jewellery casket depicted in two Johannes Vermeer paintings—Mistress and Maid and A Lady Writing (both 1664-67)—is a real, surviving object. Van Dongen tracked down the sole known example in the Távora Sequeira Pinto collection in Porto, with help from Amsterdam dealer Dickie Zebregs. Her findings, published in the book De tastbare wereld van Johannes Vermeer, suggest the casket likely belonged to Vermeer’s patron Maria de Knuijt, a wealthy Dutch East India Company shareholder who may have asked the artist to include it in her paintings.

Architects Behind Frick Renovation Tapped for Louvre’s ‘New Renaissance’

The French government has selected STUDIOS Architecture to lead a major renovation of the Louvre Museum in Paris, including new galleries and a second entrance. The project, called the 'New Louvre Renaissance,' was announced by President Emmanuel Macron in early 2025 but stalled after a jewel heist and staff strikes led to the resignation of former Louvre president Laurence des Cars, who was succeeded by Christophe Leribault. The $778 million plan aims to ease overcrowding at the museum, which hosts 9 million visitors annually, and includes a dedicated 33,000-square-foot gallery for the Mona Lisa.

jeffrey epstein frick collection

Newly released documents from the Jeffrey Epstein case reveal the financier's intense personal interest in the Frick Collection, the museum located across from his Manhattan mansion. Epstein drafted letters opposing the museum's proposed expansion, criticizing plans as "brutish" and a "travesty," and claimed to have insider knowledge about the institution and its founder, Henry Clay Frick. He was joined in his opposition by other powerful neighbors, including billionaire Howard Lutnick.

Refurb and rehang at London's National Gallery, Tate Modern turns 25 and Inge Mahn's ‘Balancing Towers’—podcast

This episode of The Art Newspaper's 'The Week in Art' podcast, hosted by Ben Luke, covers three major stories. First, the National Gallery in London reopens its Sainsbury Wing after a two-year closure, featuring a major architectural overhaul by Annabelle Selldorf and a complete rehang of the collection; Luke tours the space with director Gabriele Finaldi. Second, Tate Modern celebrates its 25th anniversary, with Luke discussing its impact and future with Louisa Buck and Dale Berning Sawa. Third, the Work of the Week segment highlights Inge Mahn's sculpture 'Balancing Towers' (1989), featured in the exhibition 'Are we still up to it?' – Art & Democracy at Herrenchiemsee Palace, discussed with co-curator Oliver Kase.