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.

paint drippings art industry news jun 2

This week's art industry roundup covers major personnel shifts, fair announcements, and institutional news. Phillips named Robert Manley chairman for Modern and contemporary art and Miety Heiden chairman for private sales after the departures of Cheyenne Westphal and Jean-Paul Engelen. Art Basel Paris announced 203 galleries for its October fair at the Grand Palais, while Kiaf Seoul will host 176 exhibitors in September. Tony Karman is stepping down as director of Expo Chicago after 14 years. Pace Gallery added Friedrich Kunath, Galerie Nordenhake signed Naufus Ramírez-Figueroa, and Sylvia Kouvali now represents Luigi Zuccheri. Ariel Pittman is launching a new Los Angeles gallery, Official Welcome. The Louvre will return 258 works from Adèle de Rothschild's bequest to the Fondation des Artistes. President Trump dismissed Smithsonian National Portrait Gallery director Kim Sajet over DEI support, though his authority is questioned. The Centre Pompidou announced a new $240 million outpost in Brazil. The Art Institute of Chicago confirmed director James Rondeau will return after a flight incident. The Pérez Art Museum Miami appointed Karen H. Bechtel as board president. Frieze and Deutsche Bank detailed their 2025 Emerging Curators Fellowship. A rare Gustav Klimt portrait of an African prince was offered for €15 million.

Paint Drippings: Art Industry News February 23

paint drippings art industry news feb 23

This week’s art industry roundup highlights major shifts across the global market, including Art Basel’s announcement of 290 galleries for its flagship Swiss fair and Sotheby’s adjustment of its buyer’s premium rates. Significant personnel moves include Devyani Saltzman’s abrupt departure from the Barbican, which sparked an open letter from over 170 cultural figures, and Anne-Claire Legendre becoming the first woman to lead Paris’s Arab World Institute.

Cosima von Bonin Loewe Paris

cosima von bonin loewe paris

German artist Cosima von Bonin collaborated with Loewe for its Fall/Winter 2026-2027 womenswear show at the Château de Vincennes during Paris Fashion Week. The artist’s signature plush sculptures, including oversized octopuses and bug-eyed scallops, occupied front-row seats and populated the runway set. Beyond the scenography, von Bonin’s zoomorphic motifs were integrated directly into the collection as jewelry, charms, and minaudières.

Prado Restoration Lab Coats by Loewe

prado restoration lab coats loewe

Spanish luxury fashion house Loewe has designed custom, high-performance lab coats for the restoration department at the Museo Nacional del Prado in Madrid. Developed in collaboration with the museum's conservators, the garments are crafted from non-reflective materials to prevent glare on masterpieces and feature leather-reinforced pockets specifically sized for restoration tools.

japanese sculptor kunimasa aoki wins 2025 loewe craft prize

Japanese sculptor Kunimasa Aoki won the 2025 Loewe Craft Prize on Thursday evening in Madrid, receiving a €50,000 cash prize. His anamorphic terracotta sculpture “Realm of Living Things 19” was selected by a 12-member jury from 30 shortlisted works on display at the Thyssen-Bornemisza National Museum. The jury praised the work's honest expression of the ancestral coil process and the raw, unfinished form of the material. Two special mentions were awarded: Nigerian artist Nifemi Marcus-Bello for “TM Bench with Bowl” and Studio Sumakshi Singh from India for “Monument.”

A New Contemporary Art Triennial Sets Its 2026 Debut in New York, and Other News

Medina, New York will host its inaugural contemporary art triennial in 2026, running from June 6 to September 7 across more than a dozen indoor and outdoor venues along the Erie Canal. The event will feature over 50 local, domestic, and international artists with site-responsive commissions, and a Medina Triennial Hub will open this September with programming in collaboration with Western New York arts institutions. Initiated by the New York Power Authority and the New York State Canal Corporation, the triennial is co-directed by Kari Conte and Karin Laansoo. In other news, Sotheby's RM will host a major Formula 1 auction titled 'The Champions – Schumacher and F1 Legends' from July 24–30; the Bakehouse Art Complex in Wynwood, Miami plans to build 60 affordable artist apartments; and artist Khaled Sabsabi has been reinstated as Australia's representative for the 2026 Venice Biennale after an external review found Creative Australia mishandled his withdrawal.

All the Looks That Made It From the Runway Into the Met’s “Costume Art” Exhibition