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paint drippings art industry news feb 16 2745624

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.

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.

picasso global raffle alzheimers research christies 1234766070

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 1234751809

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.