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art world los angeles report

Frieze Los Angeles 2026 opened amid concerns over the city's cooling art market, following a wave of gallery closures and a shift toward nomadic dealer models. Despite the economic downturn and the lingering shadow of previous regional fires, the fair week saw a resurgence of energy with 32,000 attendees and significant blue-chip sales, including a $3.75 million Ed Ruscha at Gagosian and a $2.8 million Njideka Akunyili Crosby at David Zwirner. The week was characterized by a mix of high-end commerce at the Santa Monica Airport and grassroots vitality at satellite events like Felix and the newly launched Post-Fair.

frieze los angeles art world grief hope

The Los Angeles art scene is navigating a complex recovery as it prepares for Frieze Los Angeles 2026. The city is grappling with the lingering trauma of devastating wildfires that destroyed significant private collections, alongside economic instability caused by massive layoffs in the entertainment industry and recent political unrest. This combination of environmental and financial crises has led to a notable market downturn, resulting in the closure of several high-profile galleries including Blum, Tanya Bonakdar, and Sean Kelly.

stop making sense 2025 art market analysis

The article analyzes the chaotic and contradictory state of the global art market in 2025, a year marked by extreme volatility following President Donald Trump's return to office. Key events include strong sales at Frieze Los Angeles in February, a record $13.8 million sale of a painting by M.F. Husain at Christie's, and a sharp downturn after Trump imposed sweeping tariffs on major trading partners. Major auctions in May fell far short of expectations, with only $837.5 million hammered against estimates of up to $1.6 billion. Meanwhile, Art Basel expanded with a new Qatar fair, but sales at Art Basel Switzerland dropped over 35% from 2024. The year also saw a wave of gallery closures, including the sunsetting of Blum & Poe.

armory show vip day sales report

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.

fall art season new york galleries open

Mathieu Borysevicz, founder of Shanghai's Bank gallery, launched a six-month pop-up on New York's Lower East Side earlier this year, aiming to introduce his program to new audiences amid growing Asian art interest in the city. By mid-summer, however, Borysevicz observed a sharp market downturn as collectors withdrew, reflecting a broader trend of gallery closures, lawsuits, and fair cancellations that have marked a turbulent period for the art world.

venus over manhattan closing adam lindemann

Adam Lindemann announces the closure of Venus Over Manhattan, the gallery he founded in 2012 after a career as a contemporary art collector and writer. The gallery opened with a show titled "À Rebours," inspired by a novel about a decadent aristocrat, and featured works by Warhol, Hammons, and others—a show that famously saw a Dalí stolen from the wall. Over its 14-year run, Venus Over Manhattan mounted exhibitions including a Maurizio Cattelan show during a market lull, a Calder installation with spotlights and fans, and a show mixing African masterpieces with works by Koons, Prince, and Hirst. Lindemann reflects on the challenges of opening a gallery against advice, the theft that made international news, and the quiet validation he received from artists like David Hammons.

jack hanley gallery scene

Jack Hanley, a beloved and idiosyncratic New York gallerist, announced he would close his gallery after 37 years in business. In a conversation with Artnet News co-host Kate Brown, Hanley reflects on his career as a disruptor who followed instinct over market logic, giving early shows to now-iconic artists like Günther Förg, Christopher Wool, Sophie Calle, and Christian Marclay, and even hosting Beeple's first gallery show. Hanley, a former Grateful Dead roadie and avid orchid grower, also founded an art fair and ran galleries in multiple cities.

A $15M De Kooning Leads Lévy Gorvy Dayan’s New Auction-Style Sales Experiment

Lévy Gorvy Dayan is launching LGD Hammer, a new live-bidding platform that blends private sales with auction dynamics. The inaugural sale on May 16 will feature a 1984 Willem de Kooning painting estimated at $10–15 million, led by co-founder Brett Gorvy, a former auction veteran. The article also reports on gallery closures (Stephen Friedman Gallery, Galerie Philipp Zollinger, Astor Gallery), artist moves (Zoe Leonard to Maxwell Graham, Kehinde Wiley among creditors), and Sotheby’s upcoming single-owner sale of Joe Lewis’s collection expected to exceed $200 million.

tilton gallery to close after over 40 years and more art industry news

Tilton Gallery, a fixture of New York’s Upper East Side for over 40 years, has announced it will close its physical space following an upcoming Ruth Vollmer exhibition to focus on private projects. The week also saw significant leadership shifts, including Lisa Phillips announcing her retirement as director of the New Museum after 26 years, and Ebony L. Haynes being promoted to the newly created role of global head of curatorial projects at David Zwirner. Meanwhile, legal tensions surfaced as a court dismissed Ronald Perelman’s $400 million insurance lawsuit regarding fire damage to his art collection.

mnuchin gallery to close

Mnuchin Gallery, a blue-chip art gallery on Manhattan's Upper East Side, will close at the end of February after 34 years, following the death of its founder Robert Mnuchin in December at age 91. The gallery, known for museum-quality exhibitions of Modern and postwar art, concluded its final show—a survey of Julian Schnabel's plate paintings—on Saturday. Partner Michael McGinnis said the decision to close was made to end on a high note, honoring Mnuchin's passion and vision.

biggest museums moments 2025

The past year saw major museum events dominated by high-stakes thefts and political interference. The Louvre in Paris suffered a shocking $102 million jewel heist in broad daylight, leading to arrests and an €80 million security overhaul. Other European museums, including the Drents Museum in the Netherlands, were also targeted, raising fears of an organized criminal network.

art galleries join anti ice national strike

A significant number of New York art galleries, including major players like Pace Gallery, David Zwirner, and Marian Goodman, will close on January 30 to join a nationwide general strike protesting expanded Immigration and Customs Enforcement (ICE) operations. The strike is a response to allegations of federal overreach, including the use of deadly force against protestors and the detention of Native Americans, which have fueled widespread outrage.

berlin mehdi chouakri gallery temporary pause

Berlin’s Galerie Mehdi Chouakri announced a temporary pause from exhibitions after nearly thirty years and around 250 shows. Owner Mehdi Chouakri cited personal reasons and the increasing demands of the traditional primary market model. The gallery will continue to represent its estates and living artists through collaborations, and may mount a new exhibition as soon as fall 2025. The pause follows a difficult year for galleries globally, with several high-profile closures and retrenchments.

top 5 art market minute podcast episodes 2025

Artnet News published a roundup of the top five episodes of its podcast 'Art Market Minute' from 2025, hosted by Margaret Carrigan. The episodes cover key industry topics: whether artists still need galleries, how to build professional relationships in the art world, the rising market value of Jack Whitten's work, the impact of AI on the art market, and the wave of high-profile gallery closures reshaping the trade. Guests include Sonia Manalili, Brooke Lampley, Naomi Rea, Eileen Kinsella, Jo Lawson-Tancred, and Katya Kazakina.

art market 2026

The article reports on the outlook for the art market in 2026, following a difficult 2025. It notes signs of recovery, including decent sales in Miami and $2.2 billion in marquee New York auctions, but warns of a K-shaped recovery where some sectors will bounce back while others continue to struggle. The piece also highlights a major shift toward the Gulf region, with Art Basel launching in Qatar, Art Dubai celebrating its 20th anniversary, Frieze debuting in Abu Dhabi, and the long-awaited opening of the Guggenheim Abu Dhabi, all signaling commercial maturity in the area.

paint drippings art industry news jul 14

This week's art industry news includes Art Basel appointing Egyptian artist Wael Shawky as artistic director of its first Middle East fair, Art Basel Qatar, running February 5–7, 2026. A new fair called Loading… debuts in Hudson, N.Y., during Upstate Art Weekend, while Vienna Contemporary names Abaseh Mirvali as artistic director. Bonhams offers material from Roy Lichtenstein's Hamptons home, and a legendary Le Birkin handbag sells for €8.5 million at Sotheby's Paris. Galleries see Hollis Taggart adding two artists, Adam Lindemann closing Venus Over Manhattan, and Berlin's Meyer Riegger and Paris's Galerie Jocelyn Wolff opening a joint Seoul gallery. Museums include the Zayed National Museum opening in Abu Dhabi, Shamim M. Momin named director of the Bronx Museum, and the Baltimore Museum of Art acquiring 150 new works. The Art Bridges Foundation and Crystal Bridges acquire 90 Indigenous artworks, and the Schirn Kunsthalle Frankfurt opens a temporary location. In legal news, DHS officials visited the National Museum of Puerto Rican Arts and Culture in Chicago.

southern guild tribeca expansion 2025

Southern Guild, the prominent Cape Town gallery co-founded by Trevyn and Julian McGowan, is opening a new outpost in a restored 19th-century Tribeca townhouse on Leonard Street in New York. The expansion comes as the gallery closes its Los Angeles space, a move the McGowans describe as instinctive rather than strategic. The new space, with its sixteen-foot ceilings and exposed brick, represents a leap of faith amid a challenging 2025 art market marked by gallery closures and industry retrenchment.

sperone westwater gallery closing

Sperone Westwater, a pioneering New York gallery that launched artists like Bruce Nauman, Richard Long, and Francesco Clemente, will close on December 31 after 50 years. Co-founders Angela Westwater and Gian Enzo Sperone are pursuing separate endeavors. The gallery’s final show is a current exhibition for Long, and it will still participate in Art Basel Miami Beach next month. Founded in 1975 in SoHo, the gallery was known for championing Neo-Expressionism and transavanguardia, and later diversified its roster with artists like Joana Choumali and Gamaliel Rodriguez. Its eight-story Bowery building, designed by Norman Foster, faces an uncertain future.

art market open door policy jeff magid

Jeff Magid, a New York, Los Angeles, and Mexico City–based art collector, plans to open Cuernavaca Tres, a public art foundation in Mexico City, in 2026. In an opinion piece for ARTnews, he argues that the current downturn in the art market—marked by declining sales and gallery closures—is not due to economic cycles or financialization, but rather a simple mismatch: there are more galleries, auctions, fairs, and artists than ever, while the number of buyers has not kept pace. Magid criticizes the luxury retail model adopted by many galleries, which prioritizes exclusivity and status signaling, and contends that this approach fails to attract enough new collectors to sustain the market.

kadist san francisco gallery closes

Kadist, a Paris-based nonprofit art organization, announced the closure of its San Francisco gallery after 14 years of operation. The space, which opened in 2011, was known for commissioning and exhibiting works by international artists such as Hank Willis Thomas, Jota Mombaça, and Ad Minoliti. Joseph Del Pesco, Kadist’s Americas director, stated that the closure was not due to funding issues but rather a strategic shift toward international collaborations with museums across the Americas and beyond. The organization will continue to operate its original space in Paris and maintain its collection of over 2,000 artworks.

paint drippings art industry news jul 7

This week's art industry news covers major auction results, gallery changes, and restitution developments. At Christie's Old Masters evening sale in London, Canaletto's "The Return of the Bucintoro on Ascension Day" set a new auction record for the artist at £31.9 million ($43.9 million), leading the sale to a total of £60.8 million. Sotheby's Old Masters evening sale brought in £14.5 million, with three new records including Diana de Rosa's "Salome with the Head of Saint John the Baptist" selling for £317,500. A rare early watercolor by Man Ray, "Nude Playing Musical Instrument" (1913), resurfaced after decades and will be auctioned at Dreweatts. In gallery news, Blum gallery laid off most of its staff and plans to cease brick-and-mortar operations, while Waddington Custot announced a new Paris space, and Company Gallery hired Subhas Kim Kandasamy as executive director. White Cube now represents Firenze Lai, and JD Malat Gallery launched a new initiative for UAE artists. In restitution, the Netherlands returned 119 Benin Bronzes to Nigeria, and the Museum of Fine Arts, Boston, transferred two Benin works to the Oba of Benin.

hauser wirth uptown sale jens hoffmann project wet paint

Hauser & Wirth has sold its Upper East Side townhouse at 32 East 69th Street for $10.5 million to a developer, ending a decades-long presence in the neighborhood. The property, purchased in the 1990s as a family residence, was renovated by architect Annabelle Selldorf and later used as gallery space from 2009, hosting exhibitions by artists like Pope.L, Anna Maria Maiolino, Luchita Hurtado, and Arshile Gorky. Gallery co-founder Iwan Wirth cited a shift in the family's center of gravity to Chelsea and the business's expansion downtown with new locations on West 18th Street and Wooster Street in SoHo.

LA’s The Box Gallery to Close After 19 Years

The Box, a prominent Los Angeles gallery, announced it will close after 19 years, with its final exhibition—a two-venue collaboration with Parker Gallery for late California artist Wally Hedrick—ending April 4. The closure will be marked by a fashion show for Johanna Went on June 6. Founder Mara McCarthy cited a combination of factors, including changing economics around support for her father Paul McCarthy's work and the loss of her family's homes in the January 2025 Eaton fire, as making continued operation impossible.

Art Basel’s Parent Company Plans New ‘Ideas Festival’—and More Art Industry News

MCH Group, the parent company of Art Basel, is launching a new global ideas festival called the Futurific Institute in Basel in 2028, backed by billionaires James and Kathryn Murdoch. Art Dubai has postponed its 20th edition due to regional conflict, while several galleries are opening, closing, or changing locations, including Brooke Benington in London and Timothy Taylor in New York. Additionally, Mexico is demanding eBay remove listings for pre-Columbian artifacts, and institutions like the Royal Academy of Arts and MCA Chicago are announcing key leadership changes.

stephen friedman exits tribeca

Stephen Friedman Gallery has announced it will close its New York location in Tribeca by the end of February 2026, less than 30 months after its high-profile opening. The gallery framed the decision as a "strategic evolution" intended to consolidate resources at its London headquarters while maintaining a presence at major international art fairs. Despite the closure, the gallery maintains that its artist roster remains unchanged and its influence in the U.S. will continue through institutional exhibitions.

golestan palace tehran damaged us israel bombing

The Golestan Palace, a UNESCO World Heritage site in Tehran, has sustained damage following US-Israeli airstrikes targeting the Iranian capital. According to Iran’s cultural heritage minister, Reza Salehi-Amiri, the Qajar-era complex suffered damage to its historic windows, doors, and mirrors due to blast shockwaves and debris. The escalation of the regional conflict has further impacted cultural hubs across the Middle East, with debris falling near Abu Dhabi’s Saadiyat Island and major institutions in Qatar and the UAE temporarily closing their doors.

1969 gallery space zero one wet paint

The New York art scene is witnessing a shift in the Tribeca gallery landscape as 1969 Gallery, a fixture known for championing emerging painters, has shuttered its physical space at 39 White Street. Founder Quang Bao confirmed the closure following the building owner's decision to sell the property, noting that he is currently operating from Barcelona with plans to pivot toward collaborations and residencies rather than the traditional gallery model. Meanwhile, the itinerant Ward Gallery continues to gain traction by hosting pop-up symposia at institutions like the International Center for Photography, signaling a broader trend toward real-estate-free dealership.

chicago volume gallery move west town

Volume Gallery, a Chicago gallery specializing in art and design, is tripling its size and moving to a new location in the West Town neighborhood. The gallery, founded by Claire Warner and Sam Vinz, will open a 3,500-square-foot space on February 13, marking its third location since its 2010 launch. The inaugural exhibition, "The Heresy of Legacy," will feature works by artists and designers including Selva Aparicio, Richard Artschwager, and Joyce Scott.

art world insiders 2026 market predictions new years

Art world insiders share their predictions for 2026, anticipating a market rebound after a turbulent 2025 marked by gallery closures and tariff announcements. Key developments include the launch of new art fairs by Art Basel and Frieze in Qatar and Abu Dhabi, the return of the Whitney Biennial and Venice Biennale, and a surge in estate-driven sales as the Great Wealth Transfer accelerates. Experts note a revival of interest in Old Masters and classic taste, with collectors returning to bidding and galleries seeing renewed activity.

paris galerie 1900 2000 closed new york branch

Galerie 1900-2000, a Parisian gallery specializing in Dada and Surrealism, has closed its New York branch on Madison Avenue, which opened in February 2023 as a joint venture with Galerie Georges-Philippe & Nathalie Vallois. The Manhattan outpost's last exhibition ended in September, with principal David Fleiss citing a slow market during difficult global times as the reason for the closure, though he did not rule out a future return to New York.