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.

Dubai wants to put on a brave face by announcing a new digital art museum

Dubaï veut donner le change en annonçant un nouveau musée d’art numérique

Dubai has announced plans for a new Museum of Digital Art (MODA), designed by Adrian Smith + Gordon Gill Architecture, the firm behind the Burj Khalifa. The five-story museum will be located in the DIFC Zabeel District and feature permanent and temporary exhibitions, immersive experiences, educational spaces, and a digital twin for global access. The announcement comes amid regional turmoil, including Iranian missile and drone strikes on the UAE in March 2025 that damaged infrastructure, disrupted tourism, and reduced the 20th edition of Art Dubai from 120 galleries to just 50 stands.

Lagos curator establishes private art society with focus on cross-disciplinary exchange

Ugoma Chinelo Ebilah, an economist-turned-curator who founded Bloom Art Lagos in 2010 and the Mbari Kola Arts and Culture Foundation in 2019, is opening Mbari Kola, a private art society and members club in Lagos. Located in the affluent Ikoyi district, the 800 sq. m space will include a public gallery, shop, and garden, along with a private lounge, terrace, library, and multifunctional rooms for members. The venue will host exhibitions, residencies, film screenings, concerts, performances, and readings, focusing on pan-African art and culture. A soft launch for founding members is set for Africa Day (25 May), with further phases after summer and during Lagos Art Week in November. The club is part-funded by Ebilah and crowdfunded through around 50 founding patrons and members.

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.