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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.

A True-to-Life Biennale

Hakim Bishara, editor-in-chief of Hyperallergic, reflects on the 61st Venice Biennale after returning to New York, describing it as historical, political, and thrilling. He counters critics who claimed the Biennale imploded due to boycotts and resignations, arguing it was more alive than ever. The late Koyo Kouoh's main exhibition "In Minor Keys" is praised for reflecting global woes and joys. The article also highlights a major strike by artists and cultural workers that disrupted the pre-opening, the first cultural strike in the Biennale's 131-year history, with 54 artists in the international exhibition and 22 national pavilion teams withdrawing from awards consideration in solidarity with the jury's resignation.

La Biennale de Venise s’ouvre dans un climat houleux

The 61st Venice Biennale opened amid intense controversy after its president, Pietrangelo Buttafuoco, announced the return of the Russian pavilion, which had been absent since the start of the Ukraine war. The European Commission suspended its €2 million subsidy for the 2028 edition, and the entire Biennale jury resigned on April 30. Buttafuoco later declared the Russian pavilion would remain closed, but protests erupted during the pre-opening days (May 6–8), drawing 28,000 professionals. Pussy Riot members, Femen activists, and the Free Nations League staged demonstrations, while the Israeli pavilion remained open despite a letter signed by nearly 200 artists calling for its exclusion.

Political Fallout Rocks Venice Biennale Prize System

Dozens of artists participating in the 2026 Venice Biennale have withdrawn from consideration for the newly created Visitor Lion awards, replacing the traditional Gold and Silver Lion prizes. A total of 57 artists from the main exhibition and 22 national pavilions signed a statement published on e-flux on May 9, acting in solidarity with the five-person prize jury that resigned on April 30 over the continued participation of Russia and Israel. The jury had objected to awarding prizes to artists from countries whose leaders face International Criminal Court charges, including Russian president Vladimir Putin and Israeli prime minister Benjamin Netanyahu. In response, the Biennale organizers postponed the awards ceremony to November 22 and introduced visitor voting, a move they described as consistent with openness and dialogue. Meanwhile, the Russian Pavilion, which returned after lending its space to Bolivia in 2024, faced protests, closure after previews, and a €2 million funding pull by the European Union for the 2028 Biennale.