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Maike Cruse, the new director of Art Basel's flagship fair in Basel, is preparing for the 2025 edition opening to VIPs next week. The fair will feature 285 galleries from around the world, including the Unlimited section for large-scale works and a conceptual wheat field by Agnes Denes originally planted at the World Trade Center in 1982, now growing at the Messeplatz. In an interview, Cruse discusses her transition from leading Gallery Weekend Berlin for a decade, the evolution of Basel as an art market hub, and her vision for rejuvenating the fair while maintaining its regional identity.

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Billionaire hedge fund manager and prominent art collector Kenneth C. Griffin has issued a stark warning regarding the global economy, stating that a recession is inevitable if the Strait of Hormuz remains closed through the end of the year. Speaking at the Semafor World Economy summit, Griffin highlighted that the closure of this vital oil passageway has created energy shocks and treacherous conditions for central bankers, potentially forcing further interest rate hikes to combat inflation.

Paint Drippings: Art Industry News November 21

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The Philadelphia Museum of Art has appointed Daniel H. Weiss, former head of the Metropolitan Museum of Art, as its new director and CEO to provide stability following the controversial dismissal of Sasha Suda. The transition occurs amid a legal battle, with the museum filing court documents alleging Suda misappropriated funds and falsified records. Meanwhile, the auction market saw a historic moment at Sotheby’s, where Gustav Klimt’s 'Portrait of Elisabeth Lederer' sold for $236.4 million, setting a new record for the artist and becoming the most expensive Modern work ever sold at auction.

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Maurizio Cattelan's 18-karat gold toilet sculpture, *America* (2016), sold at Sotheby's New York for $12.1 million to Ripley's Believe It or Not!, the entertainment franchise known for oddities. The work, consigned by hedge-fund manager Steve Cohen, was auctioned from the Breuer Building and drew long viewing lines. Despite a playful bidding process led by auctioneer Phyllis Kao, the final price fell short of Cattelan's auction record of $17.2 million set by *Him* (2001) at Christie's in 2016.

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The Aldrich Contemporary Art Museum in Ridgefield, Connecticut, has announced a new recurring exhibition series called the Aldrich Decennial, which will take place every ten years. The inaugural edition, titled “I am what is around me,” runs from June 7, 2026, to January 10, 2027, and features 40 artists living and working in Connecticut who have not previously exhibited in the state. Organized by chief curator Amy Smith-Stewart and curatorial and publications manager Caitlin Monachino, the survey spans the museum’s entire campus and includes high-profile names such as Dominic Chambers, Tammy Nguyen, Em Rooney, Aki Sasamoto, and Julia Wachtel, with artists ranging in age from Lucy Sallick (born 1937) to Remy Sosa (born 1995).

California’s High Desert Is Rich With Natural and Artistic Beauty—All Amplified by a Budding Art Fair

The fifth annual High Desert Art Fair (HDAF) took place at the Pioneertown Motel in California's High Desert, featuring 20 galleries, nonprofits, studios, and publishers. Founded by Nicholas Fahey of Fahey/Klein Gallery and artist manager Candice Lawler, the fair leverages the area's existing artistic community and natural beauty to attract visitors from Los Angeles and beyond.

U.S. Crowdfunds Its Venice Biennale Pavilion

The United States is crowdfunding its pavilion at the 61st Venice Biennale, which opens in ten days, due to the absence of major sponsors like the Ford Foundation and the Mellon Foundation. The pavilion, featuring sculptures by Alma Allen, is being organized by the American Arts Conservancy (AAC), which is soliciting donations through a campaign that has been live since at least November. The U.S. government contributes $375,000, but the installation costs significantly exceed that amount. Donors include Nevada-based Republican donors Jim and Aimee Battista, talent manager Tom Ierna, and actor Alex Pita. The AAC has not disclosed the campaign's fundraising goal, amount raised, or end date.

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The Toledo Museum of Art has opened "Infinite Images: The Art of Algorithms," an exhibition tracing the history of code-based art from the 1960s to the present. Curated by Julia Kaganskiy, the show features 24 artists including pioneers like Sol LeWitt, Josef Albers, and Vera Molnár, alongside contemporary digital creators such as Larva Labs, Snowfro, Dmitri Cherniak, Operator, and Emily Xie. Works range from Molnár's "Interruptions" series (1968–69) to recent generative and on-chain pieces like CryptoPunks (2017) and Chromie Squiggles (2020), many drawn from the collection of hedge fund manager Alan Howard.

Saudis Renege on Met Opera Financial Aid, Berlin’s Culture Senator Resigns, and More: Morning Links for April 24, 2026

The Metropolitan Opera has announced that Saudi Arabia reneged on a noncommittal memorandum of understanding that would have provided up to $200 million over eight years to the cash-strapped New York institution. Met general manager Peter Gelb said the Saudis blamed the war in Iran and the blocked Strait of Hormuz, but funding had already failed to materialize before the conflict, prompting preemptive layoffs in January. Separately, Berlin culture senator Sarah Wedl-Wilson resigned after a state audit found she illegally authorized €2.6 million for 13 projects meant to combat antisemitism, violating budget regulations. Other news includes President Trump's plan to renovate the Lincoln Memorial reflecting pool, Ontario increasing support for the Art Gallery of Ontario and Royal Ontario Museum, Rome's new photography museum, and the appointment of Thiago de Paula Souza as curator of the eighth Athens Biennale.

Raphael Met Museum Retrospective Review

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The Metropolitan Museum of Art has launched "Raphael: Sublime Poetry," the first major retrospective of the Renaissance master ever staged in the United States. Curated by Carmen C. Bambach, the exhibition features 237 works, including rare loans of drawings and monumental tapestries that have not left Madrid since the 16th century. While some of his most famous paintings remain in Europe, the show provides an exhaustive look at the artist's development from a teenage prodigy to a papal favorite.

Damien Hirst offers his hot take on art dealers

On a recent podcast, artist Damien Hirst identified his manager, Joe Hage, as the most influential person he's met, praising his work with other major artists. Hirst also downplayed the role of major galleries like Gagosian and White Cube, comparing them to 'estate agents,' and revealed a new private commission: an amethyst-encrusted grotto for the Getty family.

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The San Francisco Museum of Modern Art (SFMOMA) has announced a new exhibition titled “RM x SFMOMA,” featuring around 200 works from both the museum’s permanent collection and the personal collection of K-pop star RM, a member of BTS. RM will serve as lead curator, alongside assistant curator Hyoeun Kim and curatorial project manager América Castillo. The exhibition, running from October 2026 to February 2027, will pair Korean artists—including historical figures like Yun Hyong-keun, Park Rehyun, Chang Ucchin, and Kwon Okyon, as well as contemporary artists such as To Sangbong and Kim Yun Shin—with Western masters like Mark Rothko, Agnes Martin, Henri Matisse, Georgia O’Keeffe, and Paul Klee. A key highlight is Kim Whanki’s 26-I-70 (1979), owned by SFMOMA.

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Suzanne Landau, 80, will step down as director of the Israel Museum in Jerusalem, having informed staff at the museum’s end-of-year party. She has served as director since September 2023, initially as acting director after Denis Weil resigned amid board disagreements. The museum’s search for a new CEO is in advanced stages, and Landau will assist during a transition period. Her tenure included the installation of Anselm Kiefer’s "Ages of the World" and a restructuring that saw Dganit Sanker-Lange appointed deputy director.

banksys walled off hotel in bethlehem reopens for the first time since october 7 attacks 1234766810

Banksy's Walled Off Hotel in Bethlehem has reopened for the first time since the October 7 attacks on Israel and the subsequent war in Gaza. The hotel, which opened in 2017 across from the West Bank barrier, functions as a guesthouse, museum, art gallery, bookstore, and spray-paint shop, with nearly every window facing the 30-foot-high concrete wall. Manager Wisam Salsaa described the reopening as a symbol of hope and a cultural platform carrying the narrative of Palestine, featuring more than 20 original Banksy works and accommodation ranging from $70 bunk beds to a $495 presidential suite.

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The New York Supreme Court ruled against former hedge fund manager Philip Falcone in a case brought against pawnbroker BLCE over loans secured by artworks and a diamond ring. Judge Lyle E. Frank sided with BLCE's counter-claims of fraud and breach of contract, finding that Falcone made misrepresentations when securing loans with the same artworks—including pieces by Pablo Picasso, Damien Hirst, and Richard Prince—from multiple lenders. Falcone had claimed the ring was "wrongfully foreclosed," but the court determined he failed to raise genuine issues of material fact.

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A high-profile fundraising campaign led by the Art Fund is underway to save Prospect Cottage, the former home of artist and filmmaker Derek Jarman. Supported by figures like Tilda Swinton and Jeremy Deller, the initiative seeks to raise £3.5 million to preserve the site and its archive for public tours and artist residencies. Meanwhile, the Philadelphia Museum of Art's CEO, Timothy Rub, has issued an apology regarding the institution's handling of sexual harassment allegations against former manager Joshua Helmer.

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The Metropolitan Opera is considering selling its two iconic Marc Chagall murals, 'The Sources of Music' and 'The Triumph of Music,' which have been appraised at $55 million. The institution's general manager, Peter Gelb, has proposed a sale with the condition that the buyer agrees to leave the works in place at Lincoln Center, with a donation plaque.

‘I rely heavily on instinct’: entertainment mogul Hassan Smith on the art he collects and why

Entertainment executive and art collector Hassan Smith, manager to John Legend and advisory board member for the Atlanta Art Fair, shared insights into his collecting philosophy ahead of Frieze Los Angeles. His extensive collection spans art history from Rembrandt and Picasso to contemporary Black masters like Sam Gilliam, Rashid Johnson, and Deborah Roberts. Smith recently added a large-scale painting by Patrick Eugène to his holdings, noting that he relies on a mix of instinct and professional networking to make quick acquisition decisions.

Artists, clowns, runaways: a stay at the Chelsea Hotel – in pictures

Photographer Albert Scopin has released a new book through Kerber Verlag documenting his residency at New York’s iconic Chelsea Hotel between 1969 and 1971. The collection features rare, intimate portraits of the hotel's legendary inhabitants, including a young Patti Smith and Robert Mapplethorpe before their rise to global fame, alongside long-time manager Stanley Bard and avant-garde figures like Vali Myers and Holly Woodlawn. Scopin’s lens captures the 'creative chaos' of the era, from the art-filled lobby to the eccentric private quarters of residents like composer George Kleinsinger.

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The National Labor Relations Board has accused Snøhetta, a prominent New York-based architecture firm, of illegally firing eight employees who supported a 2023 unionization campaign. The NLRB complaint alleges that managers tracked union supporters and improperly questioned staff about their sympathies, while Snøhetta denies the claims, attributing layoffs to business pressures predating the union drive. Separately, Singapore Art Week is spotlighting women artists from Southeast Asia, with the launch of Krystina Lyon's book "You Are Seen" and the National Gallery Singapore exhibition "Fear No Power: Women Imagining Otherwise." Other news includes the death of Artforum founding editor Philip Leider at 96, LANZA chosen for the Serpentine Pavilion, and a Louvre heist caught on newly released footage.

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A donation of 500 guitars to the Metropolitan Museum of Art in May 2025, announced via a profile in The New Yorker, has become embroiled in controversy. Mick Taylor, former guitarist for the Rolling Stones, claims through his manager that one of the donated guitars—a Les Paul stolen from the band's French villa in 1971—is his property. The Met initially declined to comment, but later told The New York Times that Taylor played the guitar but never owned it, asserting a well-documented ownership history. The guitars were donated by collector Dirk Ziff, and the museum plans to open a permanent American guitar gallery in 2027.

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The Philadelphia Art Museum has appointed Daniel Weiss, former CEO of the Metropolitan Museum of Art, as its new director, effective December 1. Weiss takes over amid a legal battle with recently ousted director Sasha Suda, who filed a wrongful-termination lawsuit after her November 4 dismissal. The museum has escalated its defense, alleging Suda misappropriated funds prior to her firing. Weiss, who previously restored fiscal stability at the Met, is expected to guide the institution through this tumultuous period, which also includes backlash over a controversial rebrand.

Kyle Stephan finds in art the power to activate people

Kyle Stephan has been appointed the new Steven and Lisa Munster Tananbaum Curator of Modern and Contemporary Art at The Block Museum at Northwestern University. A curator, scholar, and educator with expertise in global contemporary art, time-based media, and interdisciplinary practice, Stephan was inspired to pursue curatorial work after witnessing art's power to activate people and communities while working as a studio manager for artist Lynn Hershman Leeson in the 1990s San Francisco Bay Area. She holds a Ph.D. in art and art history from Stanford University and previously curated the first U.S. survey of Fluxus artist Wolf Vostell at Harvard Art Museums.

Influencer, politician, museum director: what Eike Schmidt did next

Eike Schmidt, the German-born museum director who led Florence's Uffizi Galleries from 2015, has taken on a series of high-profile and controversial roles. After restructuring the Uffizi and nearly leaving for Vienna's Kunsthistorisches Museum in 2019, he stayed on, then moved to Naples' Museo di Capodimonte in 2024. Months later, he ran for mayor of Florence as a centre-right independent backed by far-right parties, losing in a run-off. Now settled at Capodimonte, he reflects on his unpredictable career with no regrets.

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Matthew Christopher Pietras, an arts patron who pledged millions to the Metropolitan Opera and the Frick Collection, died by suicide on May 30 in his Manhattan apartment, as ruled by the New York City medical examiner. His death was attributed to acute intoxication from a combination of prescription drugs. Pietras had made a $15 million pledge to the Met Opera, but when he attempted to transfer $10 million, the transaction was flagged as fraudulent, and it was later revealed that the funds belonged to the Soros family, not to Pietras himself. He worked as a financial manager—or, more accurately, a personal assistant and property manager—for Gregory Soros, the youngest son of billionaire George Soros.

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The School of the Art Institute of Chicago (SAIC) laid off three of five staff members at the Video Data Bank (VDB), a renowned video art distribution organization, on November 12. Former director Tom Colley announced the dismissals of digital collection manager Elise Schierbeek and distribution assistant Nicky Ni, and stated that acquisitions and programming would cease. SAIC cited financial pressures from federal policy changes and enrollment declines, insisting the VDB is not closing but needs adjusted staffing to protect its teaching mission. The VDB, founded in 1976 and approaching its 50th anniversary, holds works by major artists including Nam June Paik, Pipilotti Rist, and Bruce Nauman, and has historically received NEA funding.

Au Louvre, des directeurs de département entre responsabilités internes et rôle national

Maximilien Durand has been reappointed as head of the Department of Byzantine and Eastern Christian Arts at the Louvre Museum, a role that carries both internal museum responsibilities and national duties on behalf of the French state. Two decrees signed by Culture Minister Catherine Pégard formalize his renewal: one as head of the museum department, and another as head of the corresponding major heritage department, a status held by only nine of the Louvre's departments.

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London-based gallerist and advisor Varvara Roza has established a unique business model that merges commercial representation with strategic artist development and collector education. Drawing from her background as a second-generation collector, Roza’s eponymous gallery focuses on mid-career and established international artists, prioritizing long-term career sustainability over short-term market trends. Her approach emphasizes a dual perspective, acting as both a mediator of cultural value and a strategic manager for her roster.

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Jean-Michel Basquiat's 1983 painting *Onion Gum*, priced at $21.5 million, was one of the most expensive works for sale at the 23rd edition of Art Basel Miami Beach. The large square canvas, featuring a white head and handwritten text, has a long market history: it sold for $7.36 million at Sotheby's in 2012 to hedge fund manager Daniel Sundheim, then failed to meet its estimate at auction in 2016, fetching $6.6 million. Since 2017, Van de Weghe Gallery has used the work as collateral for bank loans, showing it at multiple Art Basel fairs with prices rising from $16.5 million in 2018 to the current $21.5 million.

Ruth Leon recommends… Raphael: Sublime Poetry – Metropolitan Museum of Art

The Metropolitan Museum of Art has opened its major spring exhibition, "Raphael: Sublime Poetry," the first comprehensive survey of the artist in the United States. Curator Carmen Bambach, exhibition design manager Daniel Kershaw, and research associate Caroline Elenowitz-Hess guide a virtual tour of the show, which brings together over 170 masterpieces and rarely seen works spanning Raphael's career from Urbino to Florence and Rome.