christies 2025 sales results analysis

Christie's closed 2025 with $6.2 billion in projected global sales, a nearly seven percent increase from $5.8 billion in 2024 and in line with its 2023 total. Auction sales reached $4.7 billion, up eight percent year-over-year, while private sales held steady at $1.5 billion. The year's top lot was Mark Rothko's *No. 31 (Yellow Stripe)*, which sold for $62.1 million in New York. Other highlights include a record Picasso sale in Hong Kong ($25.4 million) and the Fabergé Winter Egg in London (£22.9 million). The house also saw strong performance from its automobiles business, Gooding Christie's, which delivered $234 million in sales. Geographically, the Americas grew 15 percent to $2.58 billion, while Asia-Pacific slipped 5 percent.

miami beach legacy purchase no vacancy 2025

Miami Beach announced Ximena Garrido-Lecca as the winner of its 2025 Legacy Purchase Program, acquiring her copper-rope work "Modulations – Sequence XXIX" for the municipal collection. The piece, shown with Livia Benavides Gallery, was selected by public vote and has been installed at the Miami Beach Convention Center. Separately, the sixth edition of the No Vacancy public-art program placed 12 site-specific installations in hotel lobbies across the city, running from November 13 through December 20, with $35,000 in total prizes.

tudor portrait auction record

A 16th-century portrait of Thomas Howard, the 4th Duke of Norfolk, by Hans Eworth sold for £3.2 million ($4.2 million) at Sotheby’s Old Masters sale in London on December 4, setting a record as the most expensive Elizabethan portrait ever sold. The painting was purchased by the art advisory Clore Wyndham on behalf of the Duke of Norfolk and the trustees of Arundel Castle, where it will be displayed. The work, painted in 1562, depicts Norfolk at the height of his political power, dressed in opulent Tudor fashion, and is one of only two known portraits of him.

collector sues sothebys modigliani authenticity

Collector Charles Cahn has filed a lawsuit against Sotheby’s in New York Supreme Court, alleging the auction house reneged on a buy-back agreement made in 2016 regarding a Modigliani portrait he purchased in 2003. Cahn paid $1.55 million for *Portrait de Leopold Zborowski* at a Sotheby’s Impressionist and modern sale, and later agreed to consign the work back to Sotheby’s if he sold it within 15 years, with the house guaranteeing the greater of the original price plus 2.5% annual compound interest or the future sale price, and waiving vendor fees. However, Cahn claims that in April 2016, Sotheby’s own appraisal questioned the painting’s authenticity, stating it failed certain criteria and would have no sale value in the international art market. Despite Cahn’s letters in June and September 2024, Sotheby’s has not responded, leading to the breach-of-contract claim seeking at least $2.7 million in damages.

tokushima modern art museum wolfgang beltracchi forgery

A painting in Japan's Tokushima Modern Art Museum, originally attributed to French Cubist Jean Metzinger and purchased in 1999 for 67.2 million yen ($426,000), has been confirmed as a forgery by notorious German forger Wolfgang Beltracchi. The museum withdrew the work, titled *At the Cycle-Race Track 55*, from an upcoming exhibition after experts identified synthetic pigments from after the mid-20th century. The Osaka-based seller agreed to a refund and return, completed in October and November 2024, and the painting has been removed from the prefectural government's inventory.

collector sues sothebys modigliani painting authenticity

Collector Charles C. Cahn, Jr. has filed a lawsuit against Sotheby’s in the Supreme Court of the State of New York, alleging the auction house refuses to resell a painting attributed to Amedeo Modigliani that he purchased in 2003 for $1.55 million. The work, titled *Portrait de Leopold Zborowski* (1917), was consigned under a 2016 agreement allowing Cahn to resell it within 15 years, but Cahn claims Sotheby’s raised authenticity concerns and failed to respond to his recent attempts to consign the piece. He is seeking $2.67 million in damages.

klimt waldabhang unterach attersee lauder sale

Gustav Klimt's landscape painting *Waldabhang in Unterach am Attersee* (1916) sold for $70.8 million at Sotheby's on Tuesday night, hammering at $61 million. The work was the third Klimt painting sold by Sotheby's from the collection of the late mega-collector Leonard A. Lauder, and was the first Klimt landscape Lauder ever purchased. The sale comes after Lauder's other Klimt landscapes achieved record prices, including *Blumenwiese* ($86 million) and his portrait of Elisabeth Lederer ($236.4 million).

picasso panama papers ganz collection

The Panama Papers leak has revealed that the 1997 sale of the Victor and Sally Ganz collection at Christie's New York was secretly orchestrated by billionaire currency trader Joseph Lewis. Lewis had already purchased the top works from the collection through a Christie's subsidiary, Spink & Son, months before the auction, and structured a guarantee that shared profits above $168 million. The sale, which set a private collection auction record at $206 million, included Pablo Picasso's "Women of Algiers (version O)" fetching $31.9 million. The documents also confirm that a Modigliani painting involved in a Nazi restitution case belongs to the Nahmad family.

french art world opposes proposal new taxes

Two French parliamentarians, Jean-Paul Matteï and Philippe Juvin, have proposed a new tax regime on art as part of France's 2026 budget, which would make France the only major art market to impose a wealth tax on the mere possession of artworks. The French art world has strongly opposed the proposal, with 27 signatories including Art Basel, auctioneer Drouot, visual artists' rights organization ADAGP, the Association for the International Diffusion of French Art (ADIAF), and the Comité Professionel des Galeries d’Art (CPGA). Critics argue the tax is technically unenforceable, would drive collectors away, and harm the broader art ecosystem.

kiran nadar bought m f husain record breaking painting christies

Kiran Nadar, a prominent Indian collector, revealed she purchased M.F. Husain's 1954 painting *Untitled (Gram Yatra)* for $13.8 million at Christie's New York, making it the most expensive work of Indian modern art ever sold at auction. The painting, estimated at $2.5–3.5 million, was originally owned by Norwegian surgeon Leon Elias Volodarsky and later donated to Oslo University Hospital, which consigned it after a 13-year deaccessioning process.

fake paintings india investment banker farmer charge sheet

Indian officials have released a charge sheet in an ongoing investigation into the sale of forged paintings attributed to major modern Indian artists M. F. Husain, S. H. Raza, Manjit Bawa, and F. N. Souza. The alleged scheme involved a poor farmer, Raghavendra Parmar, who posed as a maharaja to sell fake works, aided by lawyer Vishwang Desai, who presented himself as a collector to persuade investment banker Puneet Bhatia to purchase the pieces. The paintings, collectively valued at around ₹17.9 crore ($2 million), were allegedly funneled through Mumbai's Rare Art Gallery, run by Rajesh Rajpal, and the related firm Art India International. A former IAS officer, Subroto Banerjee, is also implicated but denies involvement.

lee ufan painting bribery investigation south korea

South Korea's impeached former president Yoon Suk-yeol's wife, Kim Keon-hee, was arrested in August on charges including bribery. A special prosecutor revealed that a painting by renowned artist Lee Ufan is central to the inquiry. Prosecutors allege that former prosecutor Kim Sang-min purchased Lee's work *From Point No. 800298* in 2023 for about $75,000 on behalf of Kim Keon-hee's brother, Kim Jin-woo, and that the painting was given to the former first lady's circle. The transaction is being investigated for possible links to political favors, including Kim Sang-min's bid for a ruling-party nomination and his later appointment as a legal adviser to the National Intelligence Service.

anish kapoor lists 56 leonard street apartment new york

Artist Anish Kapoor is selling his New York apartment at 56 Leonard Street in Tribeca for $17.75 million. The 3,576-square-foot unit on the 47th floor features four bedrooms, four-and-a-half bathrooms, private outdoor spaces, and a travertine marble bath. The building, designed by Herzog & de Meuron, houses a smaller version of Kapoor's famous sculpture Cloud Gate at its base. Kapoor purchased the apartment for roughly $14 million in 2016 and previously listed it for about $18 million last year. The listing is held by Serhant's Krista Nickols and Martin Garcia.

closed sfai campus casa artist residency center

The former San Francisco Art Institute (SFAI) campus has been transformed into a privately funded nonprofit arts center called the California Academy of Studio Arts (CASA). Backed by philanthropist Laurene Powell Jobs, who purchased the Chester Street campus for $30 million last year, CASA will host 30 emerging artists annually in an unaccredited studio program. Artists will have access to private studios, shared workspaces, and professional mentors, with no tuition fees. The center is led by director Abbye Churchill and plans seminars for participants. SFAI, one of the oldest art schools in the U.S., suspended operations in 2022 and filed for bankruptcy after a failed merger with the University of San Francisco.

calder sale art detective

An Alexander Calder mobile, *Big Horizontal Red* (1956), estimated at $5–7 million, is set for auction at Christie’s on May 12. The work’s provenance traces through Perls Galleries, the Texas Institute for Rehabilitation and Research, and a private New York collection, but a source reveals that its 1997 purchaser, Patricia Halterman, was the granddaughter of Magda Goebbels, wife of Nazi propaganda minister Joseph Goebbels. Christie’s declined to comment on the consignors but stated it conducted careful evaluation and diligence.

justin sun david geffen feud heats up

Crypto billionaire Justin Sun and entertainment mogul David Geffen are locked in an escalating legal battle over Alberto Giacometti's sculpture *Le Nez*. Sun purchased the work for $78.4 million at Sotheby's in 2021, but claims his former art adviser Sydney Xiong fraudulently sold it to Geffen for $10.5 million in cash and two paintings, using forged documents and fictitious lawyers. Sun filed suit in New York in February; Geffen countersued in April, calling the allegations "bizarre and baseless" and accusing Sun of "seller's remorse." Sun's legal team now asserts that Xiong has been detained in China since February, while Geffen's camp points to inconsistencies in Sun's story and his broader financial and legal troubles.

Italy purchases rare Caravaggio painting for $34.7 million.

Italy purchases rare Caravaggio painting for $34.7 million.

The Italian government has purchased Caravaggio's *Ecce Homo* for $34.7 million, preventing the 17th-century masterpiece from leaving the country. The painting, which depicts a bound Christ presented to the crowd, was sold by its private owners after its rediscovery and authentication in 2021. The state exercised its right of first refusal to match a sale agreed with an unnamed foreign buyer, securing the work for public ownership.

6 gripping museum exhibitions to view this winter

Six major museum exhibitions opening across the U.S. this winter are profiled, including 'Austrian Expressionism and Otto Kallir' at LACMA, which features a newly acquired Gustav Klimt painting and works by Egon Schiele; 'Divine Color: Hindu Prints from Modern Bengal' at the Museum of Fine Arts, Boston, the first U.S. exhibition to explore how lithography transformed Hindu devotional art; 'Frida: The Making of an Icon' at the Museum of Fine Arts, Houston, examining Kahlo's rise from local painter to global brand; 'Conversation Pieces: Stories from the Fashion Archives' at the Denver Art Museum, showcasing garments from its permanent collection; and 'Grandma Moses: A Good Day’s Work' at the Smithsonian.

A Deep Dive Into Westchester’s Arts Scene Right Now

This article surveys the visual arts scene in Westchester County, New York, highlighting museums, galleries, public displays, and artist profiles north of Manhattan. It features institutions such as the Neuberger Museum of Art, ArtsWestchester, Hammond Museum & Japanese Stroll Garden, Hudson River Museum, and Hudson Valley MOCA, noting specific exhibitions like "Smoke in Our Hair: Native Memory and Unsettled Time" and "Bill Viola: Moving Stillness." The piece emphasizes that Westchester offers a vibrant, bucolic alternative to New York City's art scene, with historic estates and contemporary spaces showcasing both established and emerging artists.

Embattled US Venice Biennale Pavilion is Seeking Donations

The American Arts Conservancy (AAC), an organization founded last year by the Trump administration, has launched a crowdfunding campaign to support the United States Pavilion at the Venice Biennale. This comes amid widespread controversy and calls to exclude the US, Russia, and Israel from the event. The AAC website solicits donations starting at $100, claiming a "once-in-a-generation opportunity" to restore America's artistic presence abroad. The US government has already contributed $375,000, but the State Department says the total exhibition cost far exceeds that amount. This year's pavilion will feature sculptor Alma Allen, after Barbara Chase-Riboud and William Eggleston declined to participate.

Online-Only Art Auctions Overwhelmingly Succeed in 2025

A new report from Artnet reveals that online-only auctions at Sotheby’s, Christie’s, Phillips, Bonhams, and Artnet Auctions generated $423.9 million in 2025, an 8% increase from 2024. The average price of artworks sold online also rose 8.6% to $14,309, with some platforms like Fair Warning finding success through hyper-specific sales, such as one centered on Andy Warhol’s 1974 portrait of Brigitte Bardot. Christie’s reported that 63% of new buyers made their first purchase online in 2025, where the average price point was $22,700.

Yves Saint Laurent–Owned Mirrors Shatter Record, Selling for $33.5 Million

A unique set of fifteen mirrors custom-made for fashion designer Yves Saint Laurent and his partner Pierre Bergé sold at Sotheby’s for $33.5 million, setting a new auction record for the artist Claude Lalanne. The gilt bronze, copper, and mirrored glass mirrors, created between 1974 and 1985, were originally displayed in the couple’s Paris apartment and were purchased from the collection of Jean and Terry de Gunzburg.

$120 Raffle Ticket Nets $1.2 Million Picasso

Ari Hodara, a 58-year-old software engineer from Paris, has won Pablo Picasso’s 1941 painting 'Head of a Woman' through a charity raffle. Hodara purchased a single €100 ticket for the '1 Picasso for €100' lottery after seeing an advertisement in a restaurant, eventually beating out 120,000 other participants to claim the work valued at approximately $1.2 million.

The Art of an Art Exhibition

Seventeen Colby College seniors, all studio art majors, have organized the Senior Art Exhibition 2025 at the Joan Dignam Schmaltz Gallery of Art in downtown Waterville, Maine. The exhibition, on view through May 24, features work by four sculptors, two photographers, three painters, five printmakers, and three digital media artists. It is the culmination of a yearlong capstone course that taught students the behind-the-scenes process of mounting an exhibition, including installation, collaboration with museum preparators, and producing a print catalog with artist statements and critical essays.

Beyoncé, Bad Bunny and Heidi Klum take artistic liberties with Met Gala dress code

The 2026 Met Gala, celebrating the opening of the Costume Institute's "Costume Art" exhibition, saw celebrities including Beyoncé, Naomi Osaka, Emma Chamberlain, and Heidi Klum embrace the dress code "Fashion is art" with bold, sculptural, and art-inspired ensembles. Beyoncé wore a custom Olivier Rousteing skeleton dress with a feathered train and diamond crown, while Osaka stunned in a Robert Wun white sculptural dress with a red anatomy-themed reveal. Co-chairs Anna Wintour, Nicole Kidman, and Venus Williams also made notable appearances, with Williams referencing a Robert Pruitt portrait of herself. Many guests drew direct inspiration from art history, such as Lauren Sánchez Bezos channeling John Singer Sargent's "Madame X" and Lena Dunham collaborating with Valentino's Alessandro Michele to depict Artemisia Gentileschi's "Judith Slaying Holofernes."

National Museum of Asian Art Opens New Exhibition in June About Its Origin Story

The Smithsonian's National Museum of Asian Art will open a new exhibition titled "A Museum in the Making" on June 27, 2026, running through August 8, 2027. The show explores the origin story of the Freer Gallery of Art, America's first national art museum, by examining how collector Charles Lang Freer used his Detroit home as a living laboratory for museum design. It highlights collaborations with artists and architects, including James McNeill Whistler, Stanford White, and Mary Chase Perry Stratton, and features a video walkthrough of the Freer House. The exhibition is part of the nation's 250th anniversary celebrations and the Smithsonian's broader "Our Shared Future" initiative.

Boulder Museum of Contemporary Art’s Artmix is a party built for repeat collectors and first-time buyers

Boulder Museum of Contemporary Art (BMoCA) is hosting its annual Artmix fundraiser on May 8, 2026, a fast-paced evening featuring a silent auction of works by 100 regional artists. The event includes a VIP preview with early access, champagne, and a guided tour, followed by a general admission party where bidding runs from 6 p.m. to 8 p.m. Tickets range from $150 for members to $300 for VIP access, with proceeds supporting BMoCA's exhibitions and education programs.

acquavella and nahmad contemporary billionaire jan koum

WhatsApp co-founder Jan Koum has filed a lawsuit against interior designer Remi Tessier, alleging that Tessier inflated prices and misrepresented the quality and origin of luxury goods purchased on his behalf, including several artworks. Koum hired Tessier for nine projects, including residences in the US and Europe and two superyachts. The suit claims Tessier received kickbacks on art purchases, including a $7.8 million Picasso painting, and a judge has granted discovery orders against three galleries—Acquavella Galleries, Nahmad Contemporary, and Perrotin New York—to produce records and testimony. Koum intends to use the evidence to file a criminal complaint against Tessier in France.

parties eleventy italian fashion hamptons

CULTURED and Italian luxury brand Eleventy hosted an intimate luncheon at collectors Christine and Richard Mack's Bridgehampton home, blending Hamptons art-world socializing with Milanese craftsmanship. Guests viewed artworks by Thomas Houseago, Peter Farago, and Chloe West alongside Eleventy's fall collection, and included writer Candace Bushnell, artists Megan Gabrielle Harris and Arcmanoro Niles, and various advisors and collectors. A portion of proceeds from Eleventy purchases benefited the Mack Art Foundation, which runs a residency program bringing artists to New York for three months.

aspen art fair 2025

The Aspen Art Fair returns for its second edition from July 29 to August 2, 2025, at the historic Hotel Jerome in Aspen, Colorado. The fair has doubled in size to 44 dealers, including returning exhibitors like Perrotin, Galerie Gmurzynska, and Southern Guild, and newcomers such as Marianne Boesky Gallery, Sean Kelly, and Vielmetter. Co-founded by Becca Hoffman and Bob Chase, the event features a boutique, intimate format with galleries displayed in hotel bedrooms, along with collector home tours, panel discussions, hikes, cold water plunges, and dinners. A special curated suite by advisor Wendy Cromwell draws inspiration from novels by Miranda July and Virginia Woolf.