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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.

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 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.

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.

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.

A Delayed Art Dubai Opens With Fewer Galleries—but Buyers Abound

Art Dubai opened its 20th edition at Madinat Jumeirah with a significantly reduced number of exhibitors—50 largely regional galleries, down from the originally expected 120—after being delayed from mid-April due to geopolitical tensions following the U.S.-Iran ceasefire on April 8. The fair, which offered free entry for the first time and refunded booth costs for participating galleries, saw strong attendance from Gulf and Middle Eastern collectors, with an upbeat mood and a more intimate atmosphere reminiscent of pre-Covid editions. Galleries from Lebanon and other conflict-affected regions were present, emphasizing art as a form of resilience and cultural identity.

Borghese Gallery Faces Pushback Over New Building Plan

The Borghese Gallery in Rome has proposed building an adjacent facility to expand its exhibition space and increase visitor capacity beyond the current limit of 360 people per two-hour slot. The museum, which welcomed over 630,000 visitors in 2025, argues the expansion is needed to display works long held in storage. A press conference is scheduled for May 19 to provide further details.

At the Venice Biennale, the Thrill of Victory, the Agony of Defeat

The article reports on the opening of the 61st Venice Biennale, highlighting the central exhibition "In Minor Keys" conceived by the late Koyo Kouoh, along with national pavilions and collateral events. It notes standout contributions from artists such as Alvaro Barrington, Kaloki Nyamai, Florentina Holzinger, Ei Arakawa-Nash, Li Yi-Fan, and Dries Verhoeven, while describing the American pavilion as lackluster and the overall commercial offerings as uneven. The text also covers performances and exhibitions featuring nudity and body horror, including Tino Sehgal's "The Kiss" and Maja Malou Lyse's video with the collective DIS.

Mary Lovelace O’Neal, Painter Who Defied the Bounds of Abstraction, Dies at 84

Mary Lovelace O’Neal, the American painter known for her large-scale abstract works that defied easy categorization, died in Mérida, Mexico, on May 10 at age 84. Her death was confirmed by her galleries, Jenkins Johnson and Marianne Boesky, on May 13. Active in the Civil Rights movement of the 1960s, O’Neal developed a distinctive practice that blended Minimalism, Abstract Expressionism, and figurative elements, most notably through her Lampblack series and later the "Whales Fucking" series. Her work gained renewed attention in the 21st century, with exhibitions at Mnuchin Gallery and the Museum of the African Diaspora, and her painting *Blue Whale a.k.a. #12* (1983) was selected for the 2024 Whitney Biennial.

The Works, Trends, and Artists Artnet Specialists Can’t Stop Thinking About

Artnet Auctions has three sales currently live: Post-War and Contemporary Art (through May 20), Contemporary Editions (through May 29), and Private Sales for immediate purchase. Three Artnet specialists highlight key lots: Robert Rauschenberg's 'Corridor (Hoarfrost)' (1978), Emily Mason's 'Express Report' (1988), and Andy Warhol's 'Double Mickey Mouse' (1981). The specialists discuss market trends, including the growing importance of artist foundations in supporting scholarship and market health, the rapid revaluation of post-war women abstractionists like Mason, and shifts in the prints market as consignors leverage demand.

Landmark Works Lead Cowley Abbott’s Sale of Indigenous and International Art

Cowley Abbott is staging its major spring sale, 'Select Masterworks of Indigenous and International Art,' at the Globe and Mail Centre in Toronto on May 27. The auction features a diverse range of works, including Pierre-Auguste Renoir's 'Paysage du Midi' (ca. 1900), Vincent van Gogh's 'Homme à la Pipe: Portrait du Docteur Gachet' (1890), Philip Russell Goodwin's 'Camping – Canadian Club' (1916), Emily Carr's 'Wind' (1936), and Lawren Stewart Harris's 'Above Coldwell Bay, North Shore, Lake Superior (Lake Superior Sketch XV)' (1925), with estimates ranging from CA$150,000 to CA$700,000.

The British Museum Is Recreating the Bayeux Tapestry’s Medieval Woodland

The British Museum is installing a temporary woodland installation called "Tapestry of Trees" in its forecourt from May 16 to June 2, evoking the 11th-century English landscape depicted in the Bayeux Tapestry. Designed by garden designer Andy Sturgeon, the installation features 37 silver birch trees and planters with dyed hessian wraps matching the tapestry's colors, alongside woodland species like Guelder Rose and Foxglove. It launches public programming ahead of the tapestry's historic loan from France, which will be displayed in a blockbuster exhibition on the Norman Conquest starting in September.

Louvre Reveals Architects for $1 Billion Expansion

The Louvre has announced an international team of architects—New York's Selldorf Architects and Studios Architecture Paris—to lead its "Nouvelle Renaissance" expansion, a project estimated to cost over €1 billion ($1.2 billion). The plan, first announced by French President Emmanuel Macron in early 2025, includes a new entrance to accommodate three million additional visitors annually and a dedicated 33,000-square-foot exhibition space for Leonardo da Vinci's *Mona Lisa*. The museum's new director, Christophe Leribault, is moving forward with the project despite significant budget uncertainty, with cost estimates ranging from €270 million to €1.1 billion.

John Chamberlain’s Former Studio Hosts a Star-Studded New Interview Series

The John Chamberlain Estate is launching "ON THE COUCH," a biweekly filmed interview series hosted by estate director Alexandra Fairweather, timed to what would have been the sculptor's 100th birthday. Season one features eight cultural figures including artist Daniel Arsham, architect Annabelle Selldorf, fashion designer Alexander Wang, interior designer Sasha Bikoff, entrepreneur Jon Gray, and painter David Salle. Episodes will be filmed at Chamberlain's former studio on Shelter Island, now a private museum, with guests seated on his iconic foam couches. The series launches May 19 across major streaming platforms.

For Fashion Iconoclast Iris van Herpen, ‘Nature Is the Best Artist’

The Brooklyn Museum has opened "Iris van Herpen: Sculpting the Senses," a major exhibition surveying two decades of the Dutch designer's avant-garde fashion. Curated by Matthew Yokobosky and Imani Williford, the show features over 140 of van Herpen's biomorphic couture pieces, including designs worn by Lady Gaga and Björk, alongside works by contemporary artists like Agostino Arrivabene and Tara Donovan. The exhibition, which originated at the Musée des Arts Décoratifs in Paris in 2023, highlights van Herpen's use of cutting-edge technology such as 3D printing and magnetic sculpting, as well as her deep inspiration from natural phenomena like fossils, coral, and water.

Michelle Blade Transforms Everyday California Scenes Into Luminous Reveries

Los Angeles-based painter Michelle Blade is presenting her first solo show with Night Gallery in Los Angeles, titled "It's About Time." The exhibition features a new body of work focused on still lifes and landscapes from around her home, captured at different hours of the day. Using acrylic and ink on cotton poplin with a wet-on-wet technique, Blade creates luminous, shimmering compositions that blend memory, perception, and projections of the future. The show follows her recent solo exhibition at the Powerlong Museum in Shanghai and her inclusion in the group show "Superbloom" at Night Gallery.

Horst Antes at 90: Major Shows Celebrate German New Figuration Pioneer

German artist Horst Antes, born in 1936, is being celebrated with two major exhibitions timed to his 90th birthday. Galerie Koch in Hannover presents a solo show titled “Horst Antes: Exhibition Marking the Artist’s 90th Birthday,” while the Sprengel Museum Hannover concurrently mounts “A Collection,” featuring roughly 80 works from its holdings. The shows highlight Antes’s pioneering role in New Figuration, particularly his iconic “Kopffüßler” (Head-Footer) character, which appears across paintings, sculptures, and works on paper from 1969 to 2014. The Galerie Koch exhibition also foregrounds his “House Pictures,” which explore architecture through non-hierarchical color planes and ambiguous perspective.

A $433 Million Boost for the Market

Sotheby's May 2026 auctions in New York generated $433.1 million in sales over under three hours, a 132.7 percent increase compared to the same period last spring, despite offering fewer lots. This strong performance signals a top-heavy recovery in the art market after three years of contraction. Separately, the Neue Galerie will merge with the Metropolitan Museum of Art in 2028, and Art Dubai continues despite disruptions from the U.S.-Iran war.

$181.2 Million Pollock, $107.6 Brancusi Million Sell at Christie’s, as Records Fall

Christie's New York auctioned 16 works from the collection of late media magnate S.I. Newhouse for a total of $630.8 million, far exceeding the $450 million estimate. The top lot was Jackson Pollock's "Number 7A" (1948), which sold for $181.2 million, setting a new auction record for the Abstract Expressionist and making him the latest artist to join the $100 million club. Minutes earlier, Constantin Brancusi's bronze sculpture "Danaïde" (1913) achieved $107.6 million, also a record for the Romanian modernist and the second-highest price ever for a sculpture at auction.

Inside the Unlikely Bond Between Lucian Freud and Kate Moss

In 2002, Lucian Freud unveiled a portrait of a naked and pregnant Kate Moss, a rare celebrity subject for the artist who had turned down Princess Diana. A new film, *Moss & Freud*, dramatizes the unlikely friendship that developed between the aging painter and the supermodel during the creation of *Naked Portrait (2002)*. Directed by James Lucas, the film stars Ellie Bamber as Moss and Derek Jacobi as Freud, and explores their intense studio sessions, personal revelations, and the bond that formed despite their contrasting lifestyles.

The Can’t-Miss Moments at TEFAF New York 2026

TEFAF New York 2026 opened to packed crowds at the Park Avenue Armory, showcasing a mix of historic and contemporary works. Highlights include Gagosian’s solo booth of Kathleen Ryan’s bejeweled “Bad Fruit” sculptures, Thaddaeus Ropac’s presentation of monumental canvases by Danish painter Eva Helene Pade, and Axel Vervoordt Gallery’s spotlight on overlooked Italian painter Ida Barbarigo. The fair also features collectible design and perennial favorites like Alexander Calder mobiles and Alighiero Boetti tapestries.

Does L.A’s Bold New LACMA Museum Work?

The Los Angeles County Museum of Art (LACMA) has debuted a long-awaited new building designed by Swiss architect Peter Zumthor, costing $750 million. The museum opened to the public last month with a gala for the David Geffen Galleries, and its charismatic director Michael Govan promises a new vision for how museums show art and relate to the public. Art critic Carolina Miranda joins Artnet News's Ben Davis to discuss the building's significance, having published her own analysis calling it an instant LA icon.

The Met and Neue Galerie Embark on Historic Merger

The Metropolitan Museum of Art and the Neue Galerie in New York have announced a historic merger set for 2028. The Met will acquire the Neue Galerie's Beaux-Arts mansion, renaming it the Met Ronald S. Lauder Neue Galerie (or Met Neue Galerie), while preserving its museum experience. The merger comes ahead of the Neue Galerie's 25th anniversary and its renovations from May to August 2026. Founder Ronald S. Lauder will remain involved, and the Met will supplement the Neue Galerie's programs, research, and digital initiatives. Major fundraising is underway, with the endowment target of $200 million already 80 percent met, supported by Lauder, his daughter Aerin Lauder Zinterhofer, and trustee Marina Kellen French.

Contemporary Icons and Modern Masters Headline This Major May Sale

Rago/Wright is hosting two major spring sales on May 14, 2026: 'Pure Edge: American Geometric Abstraction, Selected Works from the Museo de Arte Contemporáneo de Buenos Aires' and a Post War and Contemporary Art sale. The first features 19 works from the museum's premier collection of American geometric abstraction, while the second spans 20th- and 21st-century art. Highlighted lots include Sam Gilliam's 'Sun Woman' (1970, est. $300,000–$500,000), Annie Morris's 'Stack 7 (Ultramarine Blue)' (2015, est. $150,000–$200,000), Miyoko Ito's 'Adam and Eve' (1957, est. $200,000–$300,000), and Maria Martins's 'Impossible' (1946, est. $150,000–$200,000).

Valie Export, Avant-Garde Icon and Feminist Trailblazer, Dies at 85

Valie Export, the Austrian avant-garde artist known for her radical feminist performances, films, and sculptures, has died at age 85. Her gallery, Thaddaeus Ropac, announced her death, noting her groundbreaking work in the 1960s and 1970s introduced a new form of embodied feminism to Europe. Export, born Waltraud Lehner in Linz, Austria, changed her name in 1967 and became known for provocative works such as "Aktionshose: Genitalpanik" (1969) and "Tap and Touch Cinema" (1968–1971), which challenged voyeurism and the sexualization of women's bodies. She also co-founded the Austrian Filmmakers Cooperative in 1968 and was commissioned by the Austrian Broadcast Corporation for her film "Facing the Family" (1971).

Lucy Liu Paints the ‘Emotional Truth’ of Family Memories

Lucy Liu, best known for her acting career in films like "Kill Bill" and the TV series "Elementary," is currently presenting a new exhibition of paintings titled "Hard Feelings" at Alisan Fine Arts in New York. The show features works that explore family memory and personal history, including pieces like "Family Portrait" (2016) and newer, more gestural paintings such as "What Stays" (2023) and "Hourglass" (2026). Liu, who studied at the New York Studio School from 2004 to 2007, uses layered and obscured imagery to reflect the unstable, fragmentary nature of memory, drawing on family photographs and her own childhood experiences following her father's death.

With New Tribeca Outpost, Gratin Gallery Doubles Down on Young Artists

Gratin Gallery, founded by Talal Abillama, is opening a new outpost in Tribeca at 15 White Street, leased for ten years. The space will debut on May 15 with “Blinds and Shutters,” the first U.S. solo exhibition of Spanish sculptor Mónica Mays. The gallery, which started on Avenue B in 2022 and later moved to Grand Street, is expanding despite a challenging art market. Abillama cites the need to be closer to collectors who avoid the 15-minute walk from Tribeca to Chinatown. The new location sits near Luhring Augustine and Ortuzar Projects, and will officially open in November after renovations.

Tiny Cranach Painting That Vanished During WWII Returns to Dresden

A miniature portrait of Friedrich III (Frederick the Wise) by Lucas Cranach the Elder, missing since World War II, has been returned to the State Art Collections of Dresden, Germany. The painting was last documented in May 1945 in a limestone quarry shelter near Pockau-Lengefeld before vanishing. It resurfaced in 2024 when consigned to Parisian auction house Artcurial, whose provenance investigation revealed a matching inventory number from 1722–1728. The Dreyfus family in France, the modern owners, returned the work after negotiations and a financial agreement. It is now on view at the Coin Cabinet of the Royal Palace in a special exhibition marking the 500th anniversary of Friedrich III's death, and will later be permanently displayed in the Semper Gallery.

Authorship Dispute Erupts Over ‘Hair Dress’ at the Met’s Costume Institute

British artist Anouska Samms has publicly claimed that the Metropolitan Museum of Art's Costume Institute exhibition "Costume Art" includes a dress, Corpus Nervina 0.0 (2023-24), that was based on her collaborative work with Israeli fashion designer Yoav Hadari. Samms alleges that she co-created the original "Hair Dress" with Hadari in 2023 while both were residents at the Sarabande Foundation, and that the Met initially sought to acquire that piece. After negotiations fell through, Hadari instead provided a similar garment attributed solely to him, prompting Samms to demand proper credit via Instagram posts and through her lawyer.