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Christie’s $1.1 Billion Night Signals a Stunning Rebound for the Art Market

Christie’s achieved $1.1 billion in sales during a single evening auction on Monday, marking a dramatic rebound from the previous year when the three major New York auction houses combined sold that amount over the entire May season. The sale featured trophy works from the collections of S.I. Newhouse and Agnes Gund, with Jackson Pollock’s *Number 7A (1948)* selling for $181.2 million and Mark Rothko’s *No. 15 (Two Greens and Red Stripe)* fetching $98.4 million. Despite the strong overall results, seven of the 16 works in the Newhouse sale hammered below their low estimates, and Constantin Brancusi’s *Danaïde* failed to reach its $100 million estimate, indicating price resistance even for top-tier art.

Christie’s Double-Header Totals $1.1 B., With Several Trophy Works Notching New Records

Christie’s held two evening sales on Monday—the S.I. Newhouse collection and a 20th-century art sale—that together generated $1.1 billion across 64 lots. The Newhouse tranche alone made $630.8 million, bringing the cumulative total of the collection to over $1 billion, making it likely the most expensive collection ever sold at auction after Paul Allen’s $1.7 billion blockbuster. Top lots included Jackson Pollock’s *Number 7A, 1948* at $181.2 million (the fourth most expensive painting ever sold at auction), Constantin Brâncuși’s *Danaïde* at $107.6 million, and a Mark Rothko work at $98.4 million.

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.

Frieze New York Kicks Off with Seven-Figure Sales and High Energy: ‘It’s a Fiesta’

Frieze New York kicked off its preview day at the Shed in Manhattan with strong sales and high energy, as many attendees arrived fresh from the Venice Biennale. Galleries reported brisk presales and early placements, with White Cube selling major works by El Anatsui and Antony Gormley for seven-figure sums, and other dealers like James Cohan Gallery nearly selling out their booths. Collectors, advisors, and celebrities including Anderson Cooper, Michael Stipe, and Leonardo DiCaprio were spotted, while the Brooklyn Museum made acquisitions through the new Sherman Family Foundation Acquisition Fund.

France Passes Landmark Restitution Law for Looted Art

France has passed a landmark restitution law for looted art, marking a significant shift in the country's approach to addressing Nazi-era confiscations and colonial-era acquisitions. The legislation establishes a legal framework for returning artworks and cultural objects to their rightful owners or heirs, streamlining a process that previously required case-by-case parliamentary approval. This law is expected to accelerate the return of thousands of items held in French museums and public collections.

Robert Therrien Estate Leaves Gagosian After Nearly Three Decades and Joins David Zwirner

The Robert Therrien estate has left Gagosian after nearly three decades and joined David Zwirner, a rival mega-gallery. The move follows a major survey of the late sculptor's work at the Broad museum in Los Angeles, which featured 120 works and was the largest exhibition of his career. Therrien, who died in 2019, is best known for monumental sculptures of domestic objects, such as Under the Table (1994), and his towering plate columns held by institutions including the Tate and Glenstone.

Artist Foundations’ Net Worth Has Nearly Tripled to $9 B., Led by Cy Twombly Foundation’s $1.5 B. in Art and Assets

New research from the Aspen Institute’s Artist-Endowed Foundation Initiative (AEFI) reveals that artist-endowed foundations in the U.S. now control roughly $9 billion in assets, nearly triple the $3.5 billion reported in 2011 and up 17% from $7.7 billion in 2018. The Cy Twombly Foundation leads with $1.5 billion in art and assets, followed by foundations for Alexander Calder, Joan Mitchell, Helen Frankenthaler, and Robert Rauschenberg, each holding over $500 million. The data, drawn from public tax forms, shows that just five of roughly 500 foundations account for more than half the total, with most established by postwar American artists born before 1931.

Picasso Painting That Cost S. I. Newhouse a MoMA Board Position Heads to Christie’s for $55 M.

Christie’s New York will auction 16 masterpieces from the collection of late Condé Nast magnate S. I. Newhouse on May 18, with an estimated total of $450 million. The highlight is Pablo Picasso’s Cubist painting *Homme à la guitare* (1913), estimated at $35–55 million, which Newhouse acquired in 2000 for $10 million after MoMA sold it from its collection. Newhouse, then a MoMA board member, violated museum policy by buying the work and subsequently resigned from the board.

Mark Rothko Painting Agnes Gund Hung in Her Living Room Sells for $98 M., Setting a Record

A Mark Rothko painting, *No. 15 (Two Greens and Red Stripe)* (1964), formerly owned by prominent art patron and Museum of Modern Art president emerita Agnes Gund, sold at Christie’s on Monday night for $98.4 million (including fees). The work, which Gund purchased directly from Rothko in 1967 and kept in her living room until her death last September, received about a dozen bids before hammering at $85 million to a buyer represented by Christie’s specialist Rachael White Young. The sale broke Rothko’s previous auction record of $86.9 million set in 2012 for *Orange, Red, Yellow* (1961), also at Christie’s New York.

Robert Mnuchin's $85.7m Rothko leads Sotheby's $407.5m auction in New York

Sotheby's evening auction in New York on May 13, 2025, realized $407.5 million ($433.1m with fees), led by Mark Rothko's "Brown and Blacks in Reds" (1957) from the collection of the late dealer Robert Mnuchin, which sold for $74m ($85.7m with fees). The sale opened with all eleven lots from Mnuchin's collection achieving a 'white glove' result, totaling $140.7m ($166.3m with fees), and continued with a mixed-vendor contemporary section that added $223m ($266.8m with fees), setting four new artist records.

Bruno Bischofberger, Art Dealer of Stars Like Andy Warhol and Jean-Michel Basquiat, Dies at 86

Bruno Bischofberger, the legendary Swiss art dealer who championed American artists like Andy Warhol and Jean-Michel Basquiat in Europe, has died at age 86. His Zurich-based gallery announced his death on Saturday. Bischofberger founded his eponymous gallery in 1963, which became one of Switzerland's most important blue-chip art spaces. He forged deep personal and professional relationships with artists, including acquiring a stake in Warhol's Interview magazine, producing Warhol's film L'amour, and famously proposing the collaborative paintings between Warhol and Basquiat in 1984. Bischofberger also maintained a decades-long tradition of placing advertisements on the back page of every Artforum issue.

5 Under-Recognized Artists Getting Their Due in New York This Season

The article highlights five under-recognized artists whose exhibitions are on view in New York this season, focusing on Domenico Gnoli at Lévy Gorvy Dayan and Raquel Rabinovich at Hutchinson Modern and Contemporary. Gnoli, an Italian painter who died in 1970, is known for his pallid, claustrophobic depictions of everyday subjects, while Rabinovich, who died at 102 in January 2026, created somber minimalist paintings exploring silence and withholding. The piece notes that New York galleries often use the pre-fair period to showcase less prominent artists of great promise.

Shreg the green ogre, a grey obsessive and Vermeer’s boiled egg – the week in art

This week's art roundup from The Guardian highlights a range of exhibitions across the UK, including Bruce Asbestos's 'Bootleg Shreg 2' at Exeter Phoenix Gallery, a playful show featuring a green ogre that parodies copyright rules. Other notable shows include Roy Oxlade's primitive paintings at Alison Jacques, May Morris's craft legacy at Lady Lever Art Gallery, a 30-year anniversary group show at Timothy Taylor, and Alan Charlton's monochrome grey works at Annely Juda Fine Art. The article also features an image of a naturally sculpted rock on Kangaroo Island, a review of the Turner Prize nominees, and a masterwork analysis of Vermeer's 'The Guitar Player' at Kenwood House, which was stolen in the 1970s and recovered with the help of a clairvoyant.

Gallerist Bruno Bischofberger, Who Catalyzed Basquiat/Warhol Collaboration, Dies at 86

Swiss art dealer Bruno Bischofberger, who catalyzed the famous collaboration between Andy Warhol and Jean-Michel Basquiat, died on May 9 at age 86. His death was announced by his namesake gallery, which he had operated since 1963. Bischofberger played a pivotal role in introducing US Pop artists to Europe, representing Warhol and Basquiat, and commissioning collaborative works that led Warhol to return to painting after a two-decade hiatus. He also represented European artists like Francesco Clemente, Enzo Cucchi, Gerhard Richter, and Jean Tinguely, and his idiosyncratic ads graced Artforum's back cover for nearly four decades.

Artist Trevor Paglen Will Curate the Swiss Edition of Art Basel’s Digital Art Sector

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.

Yinka Shonibare Joins Mennour, a Fake Fake Monet, and More: Industry Moves for May 20, 2026

The article reports on several key moves in the art world as of May 20, 2026. Tina Kim Gallery will represent the estate of Singaporean British sculptor and printmaker Kim Lim, with a debut at Art Basel in June and a solo show in 2027. Yinka Shonibare has joined Paris gallery Mennour, which will host his first solo exhibition in October. Pace Gallery now represents the Brâncuși estate, planning a London exhibition this fall. Clarissa Morales has been named the first Chief Operating Officer of the Modern Art Museum of Fort Worth, moving from the Carnegie Museum of Art. Additionally, Jackson Pollock's Number 7A, 1948 sold for $181.2 million at Christie's, setting a new artist record. A viral social media post featuring a fake Monet painting created by AI sparked debate online.

The 16 Most Expensive Artworks Ever Sold at Auction

ARTnews published an updated list of the 16 most expensive artworks ever sold at auction, highlighting recent record-breaking sales such as Gustav Klimt's *Portrait of Elisabeth Lederer* (1914–16), which fetched over $236.4 million at Sotheby's, and Jackson Pollock's *Number 7A, 1948*, which sold for well above its $100 million estimate at Christie's in May 2026 from the S. I. Newhouse collection. The article traces the history of top auction prices, including Vincent van Gogh's *Orchard with Cypresses* (1888), which sold for $117 million during the Paul Allen sale at Christie's in November 2022, part of a record $1.5 billion single-evening auction.

The Wild Nine-Month Journey that Led to Nathaniel Mary Quinn Designing the Rolling Stones’ New Album Cover

Nathaniel Mary Quinn was commissioned to create the cover art for the Rolling Stones' new album *Foreign Tongues*, due July 10, after a three-way call with Mick Jagger and producer Andrew Watt. Over nine months, Quinn developed a composite portrait merging the faces of Jagger, Keith Richards, and Ronnie Wood, and also redesigned the band's iconic tongue-and-lips logo. The process involved regular conversations with Jagger and Richards, a private rehearsal session, and a lunch at the Baccarat Hotel, culminating in the band choosing Quinn's original composite over a second option featuring a vintage sports car.

Consignors Revealed: The Mystery Sellers Behind the $1.8 Billion May Auctions

Sotheby's kicked off the May auction season with a $433 million sale, including an 11-lot group from the estate of late dealer Bob Mnuchin, led by an $86 million Mark Rothko painting. The three major auction houses are offering $1.8 billion worth of art by low estimate, a 50% increase from last year, driven by consignments from estates of key figures like Mnuchin, philanthropist Agnes Gund, and dealer Marian Goodman. Christie's will stage a sale from publisher S.I. Newhouse's collection expected to bring $450 million, potentially setting records for Jackson Pollock and Constantin Brancusi. The article reveals that many top sellers are anonymous, but unmasked names include the Dennison family and French collector John Sayegh-Belchatowski.

Pace Gallery Takes Representation of Brâncuși Estate Ahead of $100 M. Sculpture Coming to Auction

Pace Gallery has taken global representation of Constantin Brâncuși's estate, announced hours before a $100 million Brâncuși sculpture, Danaïde (1913), goes to auction at Christie's. The sculpture comes from the collection of S. I. Newhouse and is among the most expensive works in New York's marquee sales. The announcement coincides with a major retrospective of the artist, organized by the Centre Pompidou, currently at the Neue Nationalgalerie in Berlin and heading to the Museum of Modern Art in New York later this year.

Pace Gallery Lands Brancusi Estate on Eve of Potential $100 Million Sale

Pace Gallery has secured global representation of the Constantin Brancusi Estate, announcing plans for a London exhibition this fall curated by art historian Jérôme Neutres. The news coincides with the auction of Brancusi's 1917 sculpture *Danaïde* at Christie's New York, estimated at $100 million, from the collection of late media mogul S.I. Newhouse. The estate was previously represented by Kasmin gallery, which closed last year. Pace's CEO Marc Glimcher emphasized the gallery's investment in modernist expertise and its ambition to become a market center for Brancusi works.

‘The story can be almost as important as the piece itself’: philanthropist Christian Levett on his approach to collecting

Philanthropist and collector Christian Levett, who opened the Mougins Museum of Classical Art in 2011 in southern France, closed that institution in 2023 and replaced it with Female Artists of the Mougins Museum, reflecting his growing focus on abstraction by women artists. Levett, a former investment manager, now owns around 1,700 works spanning antiquity to contemporary art, with significant holdings in post-war American art, African cutting-edge works, and the Zero movement. He recently bought Françoise Gilot's 1942 painting 'Geneviève Pensive' privately through Christie's and will speak at Tefaf Talks in New York on a panel titled 'Collecting with a Mission for Public Access.'

Wet Paint Does Frieze Week: The Dinosaur Dealer Downtown, David Zwirner Tribeca, and More Juicy Art-World Gossip

Artnet News' gossip column 'Wet Paint' covers the opening week of Frieze New York, beginning with the group show 'Statics of an Egg' at David Zwirner's newly renamed Tribeca gallery (formerly 52 Walker). Curated by Martin Germann, the exhibition features Japanese artists gathered by Yu Nishimura and Kenji Ide, with Nishimura's painting 'in waiting' highlighted. The column also reports on a private party at the River art-world hangout and a visit to Amanita gallery for 'A Land Before Time: Three Dinosaurs and a Gondola,' which includes a John Chamberlain sculpture. Notable attendees include artists Sasha Gordon, Olivia van Kuiken, Calvin Marcus, and Josh Smith, as well as dealers Marlene Zwirner and Matthew Brown.

The Most Expensive Jean-Michel Basquiat Works Ever Sold at Auction

ARTnews published a listicle ranking the most expensive Jean-Michel Basquiat works ever sold at auction, updated as of May 15, 2026. The article traces Basquiat's rise from street artist under the moniker SAMO to a major figure in the downtown New York scene, highlighting key relationships with Keith Haring, Diego Cortez, and curator Henry Geldzahler. It notes that Basquiat's entire mature output was created between 1981 and 1984, and that his 1983 painting *Museum Security (Broadway Meltdown)* sold at Sotheby's in May 2026 for $52.7 million, placing it among his top sales. The piece also details earlier top sales, including *Untitled* (1982) for $29.3 million at Christie's in 2013 and *Flesh and Spirit* (1982–83) for $30.7 million at Sotheby's in 2018.

A tale of two Annas: Van Gogh’s favourite Whistler painting stars in Tate Britain show

Tate Britain will open a major exhibition titled *James McNeill Whistler* on 21 May, running through 27 September, before traveling to the Van Gogh Museum in Amsterdam (16 October–10 January 2027) under the subtitle *Dandy and Disrupter*. The show’s centerpiece is Whistler’s iconic *Arrangement in Grey and Black no. 1* (commonly known as *Portrait of the Painter's Mother*), on loan from the Musée d’Orsay in Paris and displayed in its original frame designed by the artist. The article explores Vincent van Gogh’s admiration for the painting—he wrote to his sister Wil in 1889 that it reminded him of their own mother—and traces the work’s connections to the Goupil gallery (later Boussod & Valadon), where both Vincent and his brother Theo worked.

The Most Expensive Works by Mark Rothko Sold at Auction

Mark Rothko's paintings continue to command top prices at auction, with a list of his most expensive works updated in May 2026. The article details sales including 'Orange, Red, Yellow' (1956), 'Untitled' (1952) for $66.2 million, 'White center (Yellow, pink and lavender on rose)' (1950) for $72.8 million, 'No. 1 (Royal Red and Blue)' (1954) for $75 million, and 'No. 10' (1958) for $81.9 million. It also notes that in May 2026, Rothko's 'Brown and Blacks in Reds' (1957) sold for $85.8 million at Sotheby's from dealer Robert Mnuchin's collection, narrowly missing the artist's record.

How Christie’s Recruited Nicole Kidman to Sell S.I. Newhouse’s $100 Million Brancusi

Christie's has released a promotional video featuring actress Nicole Kidman to advertise the upcoming auction of Constantin Brancusi's bronze sculpture *Danaïde* (1913), estimated at $100 million. The sculpture comes from the collection of the late media mogul S.I. Newhouse, who purchased it for $18.2 million in 2002. The nearly two-minute film, shot at Christie's Rockefeller Center headquarters, shows Kidman interacting with the work and was conceived by former Sotheby's auctioneer and Newhouse estate advisor Tobias Meyer. The sale is scheduled for May 18 in New York.

At Frieze New York, Business Plunks Along, Leonardo DiCaprio Alights

At the VIP opening of Frieze New York, collectors were present but subdued, with galleries presenting modest displays and sales proceeding at a sensible, sedate pace. Despite the lack of urgency, business has improved since last year, buoyed by upcoming top-tier auctions. Thaddaeus Ropac confirmed four early sales, including a George Baselitz canvas for €1.4 million and an Alex Katz work for $400,000. David Zwirner’s booth of Joe Bradley paintings was among the buzziest, with all works on hold by early afternoon, while Cindy Sherman photographs at Hauser & Wirth sold steadily. Leonardo DiCaprio made visits, and Kelly Sinnapah Mary’s paintings at James Cohan Gallery sold out, the largest to a museum.

‘It’s a love letter’: exhibition pays tribute to Frank Gehry’s lesser-known works

Gagosian Gallery in Beverly Hills has opened an exhibition titled "Frank Gehry" showcasing the architect's lesser-known sculptural works, including fish lamps, a crocodile, snakes, and a stainless steel bear. Curated by Deborah McLeod, a personal friend of Gehry, the show celebrates his non-architectural creations that explore animal forms and light, with pieces like the 7-foot-long "Bear With Us" and fish lamps using LED bulbs. The exhibition serves as a tribute following Gehry's death in 2025 at age 96.

Who Went to Venice Last Week? Jenny Saville, Glenn Lowry, Jewel, and Many Other Power Players

Artnet News reporter Katya Kazakina recounts her experience at the opening week of the 61st Venice Biennale, describing a whirlwind of art, parties, and chance encounters. Notable figures spotted include former MoMA director Glenn Lowry, singer-songwriter Jewel (who debuted her visual art show "Matriclysm: An Archaeology of Connections Lost"), and Japanese Nintendo heir and collector Banjo Yamauchi. High-profile events included Thaddaeus Ropac gallery's reception for Georg Baselitz's final paintings (priced up to $1.5 million) and François Pinault's annual party at Fondazione Giorgio Cini, attended by Selma Hayek, Lorna Simpson, and JR. The article also highlights the social dynamics of the biennale, where dealers, curators, and collectors network across historic palazzos and hotels.