Cash-Strapped Hong Kong Arts Hub Saved—Plus a Rundown of the Latest in Asia’s Art World
Hong Kong's financially struggling West Kowloon Cultural District, a major arts hub, has been rescued from its cash crisis. This development was part of a broader Asia art world update that also included leadership changes at Japan's Art Collaboration Kyoto and the announcement of a new art fair in Shenzhen.
Art Basel Paris is undergoing a major transformation for its third edition, officially rebranding from 'Paris+ par Art Basel' and moving into the newly renovated Grand Palais. The historic venue, fresh from a $500 million restoration, allows the fair to expand its footprint by 26 percent, hosting 194 galleries compared to last year's 154. The move includes the opening of the ornate balconies for emerging galleries and a new sector called Premise, signaling the fair's transition from a successful 'preamble' to a permanent fixture in the French capital.
A flurry of art fair activity across Asia marked the early weeks of 2026. Art Basel's inaugural Qatar edition broke format with single-artist presentations, focusing on MENASA artists and discreet institutional buying. The India Art Fair in New Delhi reported strong sales for local and international galleries, while new fairs launched in Jakarta, Manila, and Hong Kong. Tokyo Gendai announced its return, and Art Basel's digital platform Zero 10 expanded to Hong Kong.
Frieze New York 2025 is set to take place at the Shed in Manhattan, bringing together over 65 contemporary art galleries from more than 25 countries. The fair coincides with major institutional shows at the Guggenheim, Whitney Museum, and the Metropolitan Museum of Art, as well as the recent reopening of the Frick Collection after a $220 million renovation. Notable galleries include Gagosian, Hauser & Wirth, Pace, and David Zwirner, alongside international dealers like Goodman Gallery and Kurimanzutto. The Focus section, curated by Lumi Tan, features 12 young galleries. On the eve of the fair, Frieze itself was sold by Endeavor to former CEO Ari Emanuel for a reported $200 million.
The Armory Show's VIP preview day on Thursday saw long queues and a cautiously upbeat mood at the Javits Center, despite a shaky art market marked by gallery closures and fair cancellations. Dealers reported serious interest and solid sales, including a $1 million work at Galleria Lorcan O’Neill, a Kehinde Wiley painting for $265,000 at Sean Kelly, and a Kennedy Yanko sculpture for $150,000 at James Cohan. The highest-priced work, Alex Katz's 1962 painting *October 2*, was listed at $1.2 million but remained unsold. The fair attracted major collectors like Don and Mera Rubell and institutional figures such as Thelma Golden and Scott Rothkopf, with the Presents section for emerging galleries also seeing brisk sales.
This week's art industry roundup covers major developments including the sale of Frieze to Hollywood powerbroker Ari Emanuel for $200 million, the opening of Frieze New York amid a cautious market, and the appointment of Alexander Rotter as global president of Christie's. Other highlights include the collapse of a record $32 million Gustav Klimt sale due to restitution issues, Phillips adding country-of-origin details to lot descriptions due to tariff confusion, and gallery moves such as Petzel now representing Tschabalala Self and Hauser & Wirth selling its Upper East Side townhouse for $10.5 million. The Mellon Foundation announced $15 million in emergency funds for state arts councils to offset cuts by the National Endowment for the Humanities.
Artist Trevor Paglen will curate the third edition of "Zero 10," Art Basel's digital art sector, at the fair's Swiss edition from June 17–21. Major galleries including Marian Goodman, Hauser and Wirth, and Almine Rech will present works by artists such as John Gerrard, Agnieszka Kurant, Avery Singer, and Hito Steyerl. Paglen co-curates with digital art strategist Eli Scheinman, and the presentation, titled "The Condition," surveys seven decades of instruction-based and computational art, featuring pioneers like Vera Molnár, Mary Ellen Bute, Ted Nemeth, and Ben F. Laposky alongside contemporary stars.
ARTnews has published a summer guide highlighting 20 art world events and exhibitions not to miss in the coming months. Featured highlights include the opera 'El Último Sueño de Frida y Diego' at the Metropolitan Opera, the 'Costume Art' exhibition at the Metropolitan Museum of Art, a Björk show titled 'echolalia' at the National Gallery of Iceland, a book on the Venice Biennale by Massimiliano Gioni, Raven Halfmoon's 'Flags of Our Mothers' at Ballroom Marfa, a Pierre Huyghe exhibition at Fondation Beyeler Basel, a James McNeill Whistler retrospective at Tate Britain, and the inaugural Medina Triennial in New York.
James Cohan Gallery, a mid-sized New York gallery, is representing four artists in the 61st Venice Biennale's central exhibition, "In Minor Keys," curated by the late Koyo Kouoh. The artists are Ranti Bam, Tuan Andrew Nguyen, Kennedy Yanko, and Yinka Shonibare (whose Guest Artists Space Foundation is also participating). This marks a breakthrough for the gallery, which has more artists in the central exhibition than any of the four mega-galleries—Gagosian, Pace, David Zwirner, and Hauser & Wirth—none of which have as many. The gallery is investing heavily in production, logistics, travel, and events, including a luncheon at the St. Regis Hotel co-hosted with Salon 94 and Esther Schipper, and a dinner thrown by collector Pamela Joyner for Yanko.
The Asian art landscape is undergoing significant shifts, headlined by the launch of Hive Art Fair in Seoul, which introduces a fee-free booth model focused on B2B corporate collaborations. Major institutional moves include the appointment of Melissa Chiu as the new director of the Guggenheim Museum and the opening of the Black Gold Museum in Riyadh. Meanwhile, the Hong Kong Museum of History has reopened with a controversial thematic revamp that emphasizes Chinese heritage over colonial history.
Conceptual artist Anicka Yi has joined Pace Gallery, where she will be represented in partnership with Gladstone Gallery, 47 Canal, and Esther Schipper. Known for her research-heavy practice that utilizes scents, bacteria, and robotics, Yi cited Pace CEO Marc Glimcher’s background in biology and the gallery's history with light and space pioneers as primary reasons for the move. Her work will be featured in the New Museum’s upcoming expansion inaugural exhibition, "New Humans: Memories of the Future."
Pace Gallery and Judin Gallery have opened a shared exhibition space in a converted 1950s gas station in Berlin's Schöneberg neighborhood, just ahead of Gallery Weekend Berlin. The venue, known as Die Tankstelle, was previously a museum dedicated to German artist George Grosz. Pace rents half the space from Judin founder Juerg Judin, with both galleries sharing operational costs. For the inaugural shows, Judin is exhibiting works on paper by Tom of Finland downstairs, while Pace shows works by Jean Dubuffet, Jean-Michel Basquiat, and Robert Nava upstairs. The galleries will alternate exhibitions, each mounting about three per year.
Artnet News and Morgan Stanley have released a report analyzing the global art auction market across four major cities—London, Paris, Hong Kong, and New York—over the period from 2013 to 2023. Total auction sales for the first half of 2024 fell to $5.05 billion, down from $7.17 billion in the same period of 2023. The report highlights a dramatic 49 percent decline in London's auction sales following the 2016 Brexit vote, while New York has maintained its dominant position, driven by blockbuster collections like those of Peggy and David Rockefeller and Paul G. Allen. Hong Kong saw growth until the Chinese property crisis in 2022, and Paris has gained ground post-Brexit, with sales up 30 percent over 2013.
This article from ARTnews reports on recent industry moves in the art world, including gallery roster additions and appointments. Jack Shainman Gallery added Brooklyn-based interdisciplinary artist Donyel Ivy-Royal, Esther Schipper now represents Tuan Andrew Nguyen in collaboration with James Cohan, Emalin took on Ghanaian artist Jonathan Okoronkwo, and Victoria Miro and Olney Gleason will jointly represent Emil Sands. Additionally, the Bass Museum of Art appointed Jasa McKenzie as associate curator. The piece also highlights a record-breaking $84.1 million sale of William I. Koch's Western art collection at Christie's, which set five new artist records, including Frederic Remington's reset twice.
"Eine Startrampe für die Zukunft"
The article is a media roundup covering several stories from the art world. It includes an interview with Jeff Koons discussing his artistic process and philosophy, a portrait of artist Jorinde Voigt, a report on the robust Art Düsseldorf fair, a news piece about two valuable Gerhard Richter paintings on loan to a museum, and a review of the new LACMA building's non-linear curatorial approach.
5 Highlights der Art Düsseldorf
The Art Düsseldorf contemporary art fair has opened its latest edition, showcasing a diverse range of works that balance humor with urgent political and global themes. Highlights from the fair include Christian Jankowski’s monumental sculptures based on children's clay models at Galerie Crone, Julian Charrière’s environmentally conscious installations at Dittrich & Schlechtriem, and Jody Korbach’s satirical paintings that reference German art history and pub culture at Petra Martinez.
The New Museum has reopened with 'New Humans: Memories of the Future,' a massive survey featuring over 150 contributors including Hito Steyerl, Precious Okoyomon, and H.R. Giger. Spanning 13 sections across the museum's new 5,500 square-meter extension, the exhibition traces the intersection of art, technology, and the human body from the early 20th century to the present. It juxtaposes interwar European works, such as Hannah Höch’s photomontages and Bauhaus ballets, with contemporary installations like Simon Denny’s sculpture of an Amazon worker's cage.
Gallery Weekend Berlin 2026 features over 50 galleries across the city, with a strong emphasis on painting. The event, founded in 2005 by a cooperative of local gallerists as an alternative to traditional art fairs, this year confirms the lasting power of painting despite its original anti-painting ethos.
Au Grand Palais, la foire Art Paris s’intéresse à la question du langage, avec un Prix BNP Paribas Banque Privée à la clé
The 28th edition of the Art Paris fair is set to return to the Grand Palais in 2026, featuring a mix of 60% French and 40% international galleries. This year’s edition emphasizes emerging talent through its 'Promesses' sector and introduces a strong curatorial focus with two thematic paths: 'Reparation,' curated by Alexia Fabre, and 'Babel,' curated by Loïc Le Gall. The latter explores the intersection of language, signs, and translation through the work of 20 artists from the French scene.
Artsy Editorial profiles 10 contemporary artists whose work aligns with the visionary, technology-driven approach of fashion designer Iris van Herpen. The article highlights van Herpen's career milestones, including her 2011 invitation to join the Chambre Syndicale de la Haute Couture, and her ongoing fusion of traditional craftsmanship with cutting-edge technology to create wearable art. It then presents a curated list of artists who similarly explore themes of organic form, digital fabrication, and the intersection of art and fashion.
The Armory Show has announced its 2025 exhibitor list, featuring over 230 galleries set to participate in the fair from September 5–7 at the Javits Center in New York, with a VIP preview on September 4. This edition marks the first under new director Kyla McMillan, who has introduced a revised floor plan, a new section called Function organized by dealer Ebony L. Haynes, and a reconfiguration of the large-scale works Platform section led by Souls Grown Deep. More than 20 exhibitors are returning after a hiatus, including White Cube and Andrew Kreps, while 55 galleries are participating for the first time, such as Skarstedt and Megan Mulrooney.
Austrian art dealer Thaddaeus Ropac is opening a new gallery in Milan, his seventh location, despite initial concerns over Italy's high value-added tax (VAT) on art, which was Europe's highest at 22 percent. The Italian government slashed the VAT to 5 percent in June after pressure from art market players, making it the lowest in the EU. The gallery, spanning over 3,000 square feet in the 18th-century Palazzo Belgioioso, opens on September 20 with a show featuring Georg Baselitz and Lucio Fontana, followed by exhibitions of Valie Export and Ketty La Rocca. Elena Bonanno di Linguaglossa will serve as executive director.
Christie's Hong Kong is offering Pablo Picasso's 1944 painting *Buste de femme* with a high estimate of HK$106 million (about $13.6 million) at its 20th/21st Century evening sale, making it the top lot in Hong Kong's September sales across the three major auction houses. Other notable lots include Zao Wou-Ki's *7.3.63* (estimate HK$70–90 million) at Christie's and two Yoshitomo Nara works at Sotheby's and Phillips. In other industry moves, New York's Tilton Gallery is closing after its upcoming Ruth Vollmer exhibition; Esther Schipper Gallery now represents Lotus L. Kang; Başak Doğa Temür and Nilbar Güreş will collaborate on the Turkish Pavilion at the 2026 Venice Biennale; Yan Du Project has appointed Billy Tang as artistic director; and Phillips will auction a juvenile triceratops skeleton in New York.
The article reports on five distinct art fairs—Frieze, NADA, Independent, 1-54, and Esther III—visited during New York Art Fair Week. It highlights key artists and works, including Kelly Tapia-Chuning's deconstructed serapes at NADA, Esaí Alfredo's queer nighttime paintings, Alex Burke's textile dolls at 1-54, and Laetitia KY's photographic self-sculpture. The fairs collectively emphasized themes of environmentalism, globalism, decolonization, and a growing textiles sector, with curation varying widely from commercial to conceptually driven.
Art Basel has announced new program highlights for its flagship fair in Basel this June, including a new initiative called Basel Exclusive. Developed in dialogue with galleries, Basel Exclusive requires participating exhibitors from the main Galleries sector to reserve at least one major work—or an entire presentation—from all pre-fair previews, online viewing rooms, and pre-sales, unveiling them publicly for the first time during the VIP opening on June 16. The fair also revealed the lineup for Unlimited, its platform for large-scale works, which will feature 59 projects by 66 international galleries, curated for the first time by Ruba Katrib of MoMA PS1. Unlimited Night returns on June 18 with extended hours and special performances.
Paris Gallery Weekend 2025 takes place May 23–25 across 74 galleries in the capital, featuring vernissages, performances, exhibition walkthroughs, and artist talks. Now in its second decade, the event was founded to spotlight Paris’s contemporary art scene and offers a counterpoint to the art fair circuit. Highlights include Sophie Calle’s "SÉANCE DE RATTRAPAGE" at Perrotin, where she revisits unfinished projects from her 2023 Picasso Museum exhibition, and major institutional shows like the David Hockney retrospective at Fondation Louis Vuitton and "Corps et âmes" at Bourse de Commerce. The weekend also includes a new Agnès Varda exhibition at Musée Carnavalet linking her photography to her Montparnasse atelier.
Florence Bonnefous, co-founder of Air de Paris gallery, is profiled in a feature that traces the gallery's 35-year history from its founding in Nice with poet Edouard Merino to its current industrial space in Romainville, a northern Paris suburb. The gallery, named after Marcel Duchamp's readymade, launched with a legendary 1990 exhibition featuring Philippe Parreno, Pierre Joseph, and Philippe Perrin, and has since become known for championing underground conceptual and challenging art. Bonnefous is described as a preeminent gallerist-curator who prioritizes artistic integrity over profit, representing estates of avant-garde female artists like Sturtevant and Dorothy Iannone, and maintaining close bonds with artists such as Liam Gillick and Flint Jamison. The gallery is exhibiting at Art Basel Paris but recently withdrew from Art Basel in Basel over a booth placement dispute.
A growing number of art fairs and galleries are publicly announcing a 'strategic pause'—a hiatus from their regular exhibition schedules to reassess their models. This week, Vienna's Spark Art Fair invoked the phrase to take a year off, following Berlin dealer Mehdi Chouakri's decision to suspend his gallery's exhibition program after 30 years. Last July, ADAA's Art Show coined the term when it announced a year-long break to reimagine the New York fair, and Taipei Dangdai in Taiwan followed suit days later. In December, an unprecedented number of galleries skipped Art Basel Miami Beach. The trend reflects a broader shift in the art world's willingness to openly acknowledge the need for rest and reinvention.
Bucharest-based gallery Arsmonitor is presenting the second installment of a four-part curatorial program dedicated to Romanian artist Florin Mitroi (1938–2002). Titled "Florin Mitroi: Ch.II: Autumn," the exhibition is curated by Erwin Kessler and is anchored by the recent rediscovery of over 600 previously unseen works—files, notebooks, drawings, and pieces on wood and metal—that had been forgotten in storage for nearly two decades. The show frames these recovered materials as foundational, expanding the known oeuvre of an artist who exhibited only a small fraction of his production and later regretted even those works. The program, structured around the four seasons, includes chapters titled "Winter," "Autumn," "Summer" (planned for 2027), and "Spring," aligning with the season of Mitroi's death.
Artist Hito Steyerl has published a new book, *Medium Hot: Images in the Age of Heat*, through Verso, continuing her long-running exploration of how images, technology, and politics intersect. The article traces her intellectual evolution from earlier works like *The Wretched of the Screen* (2013) and *Duty Free Art* (2017), highlighting key essays and video works such as *How Not to Be Seen: A Fucking Didactic Educational .MOV File* (2013), which satirizes surveillance culture. It notes that Steyerl topped ArtReview’s 2017 Power List as the most influential person in the art world, and that her latest book addresses war and violent conflict in the context of Web3, with a more decisive tone.