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.
Christie’s 21st-century evening sale in New York on Wednesday achieved $162.7 million, its highest total in the category since 2021. The sale featured eight works from the collection of the late dealer Marian Goodman by Gerhard Richter, which together sold for $78.8 million, nearly half the evening’s haul. Richter’s photorealistic candle painting *Kerze (Candle)* (1982) hammered at $30 million, below its $35 million low estimate, but still set a new auction record for the series. Other Richters performed strongly, with six of seven exceeding high estimates, including *Mohn (Poppy)* (1995) at $20.1 million. A modest Basquiat work on paper, *Asbestos*, sold for $6.54 million, and one lot by Ed Ruscha was bought in.
Christie's held back-to-back evening auctions in New York, featuring the esteemed S.I. Newhouse collection and a 20th-century evening sale, achieving a combined total of $950 million (or $1.1 billion with fees). The Newhouse sale was a white-glove affair, 100% sold, though entirely backed by third-party guarantees. Highlights included Constantin Brancusi's bronze 'Danaïde' (1913) selling for $107.5 million with fees, a record for the artist, and Pablo Picasso's 'Tête de femme (Fernande)' fetching $48.3 million. Other top lots included works by Piet Mondrian, Joan Miró, Henri Matisse, Francis Bacon, Jasper Johns, Andy Warhol, and Jackson Pollock, with many going to anonymous telephone bidders.
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.
Pat Steir, the acclaimed American painter known for her Waterfall series, died in Manhattan on 25 March at age 87. The article traces her career from early struggles as a freelance illustrator and art director, through her transformative encounter with Sol LeWitt in the early 1970s, to her eventual emergence as a major figure in contemporary painting. It highlights her teaching at CalArts and Parsons, her involvement with feminist and artist-run institutions like Heresies and Printed Matter, and the pivotal moment in the early 1980s when she cut up a reproduction of a Jan Brueghel the Elder flower painting into 64 panels, repainting each in a different historical style.
A series of significant developments occurred across the global art industry this week. Expo Chicago announced a scaled-back edition under new director Kate Sierzputowski, while the Outsider Art Fair revealed its exhibitor list. A long-lost Renaissance portrait by Sofonisba Anguissola resurfaced at the Winter Show. Christie's will sell the collection of the late MoMA trustee Barbara Jakobson, featuring works by Jeff Koons and others. Bonhams made a key hire, and Sotheby's priced a major art-backed securitization. In gallery news, Alissa Friedman returned to Salon 94, Mary Cork joined Lehmann Maupin London, and several artists gained new representation, while New York's Francis Irv gallery announced its closure.
Sotheby's held a marathon double sale at its new Breuer Building location, selling Gustav Klimt's portrait of Elisabeth Lederer for $236.4 million—the second highest price ever paid for an artwork at auction. The evening featured works from the collection of the late cosmetics heir Leonard Lauder, totaling $527.5 million, far exceeding its low estimate. The subsequent "Contemporary and the Now" sale brought in $178.5 million, with a Jean-Michel Basquiat painting selling for $48.3 million. Overall, the night generated $706 million, with multiple auction records set for artists including Cecily Brown, Antonio Obá, Yu Nishimura, Jess, and Noah Davis.
Joel Shapiro, the acclaimed American sculptor known for his abstract wooden and bronze figures, died June 14 at age 83. In the weeks before his death, he gave a career-spanning interview to Max Norman for ARTnews, reflecting on his legacy. The article describes Shapiro's final New York show at Pace Gallery in fall 2024, which featured large works like "Splay" (2024), "Wave" (2024), and his largest wooden sculpture "ARK" (2020/2023–24), alongside small models and bronzes. It also offers a glimpse into his Long Island City studio, where he constantly experimented with form, material, and scale.
Christie’s has announced the sale of the private collection of the late legendary art dealer Marian Goodman, who passed away in January at age 97. Estimated to bring in approximately $65 million, the collection is headlined by a group of significant works by Gerhard Richter, an artist Goodman championed for four decades. The centerpiece of the auction is Richter’s 1982 painting "Kerze (Candle)," which carries a high estimate of $50 million and will lead a series of dedicated sales in New York this May.
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.
The article reports that the top tier of the art auction market rebounded strongly in 2025, with the ten most expensive lots totaling $757.1 million, a 48% increase from 2024. Gustav Klimt became the top-selling artist, driven by the sale of his *Portrait of Elisabeth Lederer* (1914–16) from the collection of the late Leonard Lauder, which was the most expensive artwork of the year. The rankings saw significant shifts: René Magritte, the top artist in 2024, fell to sixth place, while blue-chip names like Pablo Picasso, Andy Warhol, and Jean-Michel Basquiat strengthened their positions. Notably, no women or living artists appeared among the top 20 sellers in 2025, a reversal from the previous year when Yayoi Kusama and Joan Mitchell were present.
As the fall auction season returns to New York, Christie’s and Sotheby’s are preparing for evening sales amid an uneven art market. The article reveals key consignors behind major lots, including a Frida Kahlo painting from 1931, estimated at $6–8 million, owned by Miami-based Francisco and Fiorella Pérez Díaz, and three French Post-Impressionist works from the collection of the late Argentine patron Nelly Arrieta de Blaquier. The market context includes underwhelming results at Art Basel in Switzerland but strong attendance at Frieze London and Art Basel Paris, with collectors showing willingness to spend only on exceptional, well-priced works.
The article explores the distinction between Modern and contemporary art, explaining that Modern art emerged in the late 19th century as a reaction to classical art and the Industrial Revolution, with movements like Impressionism, Cubism, Futurism, and Surrealism redefining painting in response to photography. Contemporary art, by contrast, is a reaction to Modern art, with its start debated between World War II and the 1960s-70s consumerist era, encompassing diverse mediums such as sculpture, street art, and performance art, exemplified by artists like Jeff Koons, Banksy, and Yoko Ono.
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.
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.
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.
This month's May auctions in New York are projected to generate between $1.8 billion and $2.6 billion across Christie’s, Sotheby’s, Phillips, and Bonhams. Major highlights include the estates of legendary dealers Marian Goodman and Robert Mnuchin, with top lots such as Gerhard Richter's *Kerze (Candle)* (est. $35m–$50m) at Christie's and Mark Rothko's *Brown and Blacks in Reds* (est. $70m–$100m) at Sotheby's. Additional offerings include works from the late S.I. Newhouse collection, featuring Jackson Pollock's *Number 7A* and Constantin Brâncuși's *Danaïde*, each estimated at $100m, as well as pieces from the collections of Agnes Gund and Marilyn Arison.
ARTnews has published a guide to 10 exhibitions in Venice worth seeing during the 2026 Biennale, beyond the central show "In Minor Keys" curated by the late Koyo Kouoh and the national pavilions. Highlights include a major survey of Lee Ufan at the San Marco Art Centre (SMAC Venice), organized by the Dia Art Foundation and curated by Jessica Morgan; "Helter Skelter: Arthur Jafa and Richard Prince" at Fondazione Prada, curated by Nancy Spector; and "Strange Rules" at Palazzo Diedo, conceived by Hans Ulrich Obrist with Mat Dryhurst and Holly Herndon, introducing the concept of "Protocol Art." Other venues include the Gallerie dell'Accademia, Pinault Collection, Berggruen Arts & Culture, Fondazione Sandretto Re Rebaudengo, and a three-night-only performance at Teatro Goldoni.
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.
Two rare photographic albums taken by art critic Gustave Coquiot in 1922 have been acquired by the newly established Van Gogh Academy in Auvers-sur-Oise, France, and are now on display. The images capture many of the sites in Arles that Vincent van Gogh painted in the late 1880s, including the Yellow House, the Langlois Bridge, and the Rhône riverbank. Several of these locations were later destroyed during World War II or by modernization, making Coquiot's photographs valuable historical records of Van Gogh's original subjects.
Artnet News critic Ben Davis analyzed 130 recurring global art events—including biennials and triennials—that opened between the 2022 and 2026 Venice Biennales, tallying over 15,000 participating artists. He identified the most frequently featured artists, with Nolan Oswald Dennis topping the list at 14 biennial appearances. Dennis, a South Africa-based artist born in Lusaka, is known for works like "Black Liberation Zodiac" (2017-ongoing) and was included in the 2026 Venice Biennale curated by the late Koyo Kouoh.
This week’s art roundup highlights several major exhibitions across the UK, including a floral-themed survey at Kettle’s Yard featuring artists from Henri Rousseau to Lubaina Himid. Other notable openings include Billy Childish’s expressionistic California desert paintings at Carl Freedman Gallery, Katharina Grosse’s site-specific installations at White Cube, and Steve McQueen’s new photography book, 'Bounty', which explores the colonial history of Grenada through its flora.
Andrew Durbin’s new dual biography, *The Wonderful World That Almost Was*, explores the profound and volatile relationship between photographer Peter Hujar and artist Paul Thek. Spanning from their meeting in the late 1950s to their deaths from AIDS-related complications in the 1980s, the book details how their shared experiences—most notably a 1963 visit to the Capuchin Catacombs in Palermo—fundamentally shaped their artistic trajectories. While Hujar captured the mummified remains in haunting photographs, Thek translated the encounter into his visceral "meat pieces" and wax effigies.
The 61st Venice Biennale is taking shape as national pavilions announce their participants and curatorial themes for the 2026 edition. Russia has confirmed its return to the Giardini with a multidisciplinary exhibition titled “The Tree is Rooted in the Sky,” following its 2022 withdrawal and the 2024 loan of its pavilion to Bolivia. The upcoming edition, themed “In Minor Keys,” will proceed under the vision of the late curator Koyo Kouoh, who passed away in 2025 after becoming the first African woman appointed to helm the prestigious event.
Thaddaeus Ropac has announced global representation of the Martha Diamond Trust in collaboration with David Kordansky Gallery. The late New York painter, who passed away in 2023, is known for her expressive, gestural cityscapes of Manhattan that balance abstraction and figuration. The partnership aims to elevate Diamond’s international profile, beginning with her first European museum survey at the Sara Hildén Art Museum in Finland in 2026, followed by a solo exhibition at Ropac’s Paris gallery in 2027.
Gallerist Ron Mandos reflects on the enduring legacy of the late Dutch photographer Erwin Olaf, whose work blended fine art, fashion, and activism. Following Olaf’s death in 2023, Galerie Ron Mandos has continued to champion his career, most recently through the exhibition “Tender Fury,” which places Olaf’s provocative imagery in dialogue with conceptual artist Kendell Geers. The partnership between Mandos and Olaf began in earnest in 2020, a period during which the artist committed to a decade of total creative freedom, resulting in significant series like “Im Wald.”
Three major artworks from the collection of the late arts patron Agnes Gund will be auctioned at Christie's in New York this May, with a combined minimum estimate of $123 million. The works include Mark Rothko's 'No. 15 (Two Greens and Red Stripe)' (est. ~$80 million), a Cy Twombly untitled painting from 1961 (est. $40-60 million), and Joseph Cornell's 'Untitled (Medici Princess)' from 1948 (est. $3-5 million).
Newly released documents from the Department of Justice reveal that the late financier and convicted sex offender Jeffrey Epstein was deeply involved in facilitating major art transactions between mega-collector Leon Black and Gagosian gallery. The files detail Epstein's personal communications with Black's lawyers regarding the acquisition of Pablo Picasso's 1931 sculpture *Buste de Femme (Marie-Thérèse)*, a work that was the subject of a legal dispute before Black acquired it for over $115 million. Epstein also assisted in a complex $48 million swap of a Rothko painting for a Picasso through Gagosian in 2012.
Amy Sherald, the painter known for her tender portraits of Black American life, has signed with Creative Artists Agency (CAA), a major talent agency. Sherald, who has been represented globally by Hauser & Wirth since 2018, rose to fame after painting Michelle Obama's official portrait for the National Portrait Gallery. She was set to become the first Black contemporary artist to have a solo exhibition at the National Portrait Gallery in 2025, but canceled the show after a censorship controversy involving her painting 'Trans Forming Liberty.'
A rare Jean-Antoine Watteau drawing, never before publicly exhibited, and a major Jean-Honoré Fragonard painting will be auctioned at Christie’s Paris on March 25. The works come from the collection of the late Arthur Georges Veil-Picard, a banker and absinthe magnate who assembled a world-class trove of 18th-century French art over 40 years. The Watteau, *Actor Holding a Guitar Under His Arm*, was previously known only from a black-and-white photograph in the artist’s catalogue raisonné and is estimated at €600,000–800,000. The Fragonard, *The Happy Family*, from the 1770s, carries an estimate of €1.5–2 million. The sale also includes works by Hubert Robert, Gabriel de Saint-Aubin, Élisabeth Vigée Le Brun, and Marie-Suzanne Roslin, with total estimates reaching €5–8 million.