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.

A New Residency Aims to Give Indigenous Artists the Tools to Make Art in Neon

The Walker Youngbird Foundation, a Native-led nonprofit, has launched a new residency program in collaboration with Lite Brite Neon Studio in Kingston, New York, aimed at giving Indigenous artists the opportunity to create work in neon for the first time. The inaugural resident is Sarah Rowe (Ponca Tribe of Nebraska), a painter and installation artist selected from over 100 applicants. The residency is valued at around $50,000 per cycle, covering fabrication, travel, lodging, a $10,000 stipend, and full ownership of the artwork and intellectual property. The program was inspired by foundation founder Reid Walker's acquisition of neon works by artists such as Watt and Jeffrey Gibson.

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.

Sarah Rowe Will Light Up Native Neon Residency in Kingston, NY

A new residency program for Indigenous artists working with neon for the first time has been launched through a collaboration between the Walker Youngbird Foundation and Lite Brite Neon Studio in Kingston, New York. Sarah Rowe, a painter and installation artist from Omaha, Nebraska, was selected as the first recipient from over one hundred applicants. She plans to create a work inspired by the heyoka, a trickster figure from Lakota tradition, and will receive a $10,000 stipend plus fully funded fabrication, materials, studio time, and technical instruction valued at around $50,000. The resulting artwork will be publicly presented, and Rowe will retain full intellectual property rights and ownership.

The Raphaels, the Italian Gang and the Olive Oil Maker: The Spectacular Theft of 7 Paintings in Budapest During the Cold War

Les Raphaël, le gang italien et le fabricant d’huile d’olive : le spectaculaire vol de 7 tableaux à Budapest en pleine guerre froide

On November 5, 1983, thieves stole seven Renaissance masterpieces from the Museum of Fine Arts in Budapest, including two works by Raphael, two by Tiepolo, two by Tintoretto, and one by Giorgione, valued at $28 million. The heist was carried out by a small Italian gang from Reggio Emilia, who entered through a window using a scaffolding left by construction workers, leaving behind a screwdriver from the Italian brand USAG that the mastermind mistakenly thought would implicate American thieves. The operation was led by Ivano Scianti, with accomplices including Giordano Incerti, Graziano Iori, Giacomo Morini, and Carmine Palmese.