philip falcone blce art loans picasso hirst ruling

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.

by the numbers christies 20th century sale totals modest 217 million

Christie’s held a doubleheader evening sale on May 12, 2025, featuring its regular 20th-century art auction and the Riggio collection. The various-owners sale achieved $216.9 million in total sales after fees, a 52% decline from the $413 million equivalent sale the previous year. The top lot was Claude Monet’s *Peupliers au bord de l’Epte, crépuscule* (1891), which sold for $42.9 million with fees. The sale had a 94% sell-through rate, with 34 of 36 lots sold and none bought in. Notable moments included a new auction record for Dorothea Tanning at $2.3 million and a strong result for Remedios Varo’s *Revelación* (1955) at $6.22 million.

frieze sells to hollywood kingpin ari emanuel in 200 million deal

Frieze, the art fair and media company, has been sold to Ari Emanuel, the former CEO of Endeavor, in a deal valued at around $200 million. The acquisition, reported by the Financial Times, covers Frieze's seven global fairs, its magazine, and its London exhibition space, No. 9 Cork Street. Emanuel, who stepped down as Endeavor CEO in March following the $25 billion acquisition of the conglomerate by Silver Lake, will own Frieze through a new company backed by a consortium of investors. Simon Fox will remain CEO, and the deal is expected to close in the third quarter of 2025.

Andrew Lloyd Webber Says He's Writing a New Musical About the Time the 'Mona Lisa' Vanished Without a Trace in 1911

Andrew Lloyd Webber, the legendary composer behind 'The Phantom of the Opera,' has announced he is developing a new musical centered on the 1911 theft of Leonardo da Vinci’s 'Mona Lisa.' The production will dramatize the true story of Vincenzo Peruggia, an Italian glazier who stole the masterpiece from the Louvre, leading to a two-year international search before the painting was recovered in Italy.

Riyadh Art Extends Its Citywide Permanent Collection

Riyadh Art, a public art initiative led by the Royal Commission for Riyadh City, is expanding its Permanent Collection with 115 new installations planned through 2026 and beyond, adding to the 75 works already installed across the Saudi capital. The collection includes works by international artists such as Alexander Calder, Anish Kapoor, Jeff Koons, Giuseppe Penone, and Ugo Rondinone, alongside Saudi practitioners like Zaman Jassim and Mohammed Al Saleem, with recent additions including Calder's 'Janey Waney' and Nobuo Sekine's 'Phase of Nothingness'.

Are We Entering a Post-Individual Era of Art?

The New Museum has opened a new building with a major exhibition titled "New Humans: Memories of the Future," which explores how artists are redefining humanity through technology. A key figure in the show is artist Christopher Kulendran Thomas, who is simultaneously exhibiting at the Museum of Modern Art and recently showed at Gagosian Gallery, while also running project spaces in New York and Los Angeles.

Sotheby’s Posts $433 Million Haul, as Trophy Lots Continue to Carry the Market

Sotheby's May 2025 evening auctions in New York generated $433.1 million, a 132.7% increase over the same sales last spring, despite offering fewer lots. The evening featured an 11-lot sale from the collection of the late banker-turned-dealer Robert Mnuchin, which alone brought in $166.3 million, led by Mark Rothko's "Brown and Blacks in Reds" (1957) selling for $85.8 million. The main contemporary art auction, including "The Now" sale, totaled $266.8 million, with over 80% of lots guaranteed. Four works went unsold and one was withdrawn, yielding a 91% sell-through rate.

sperone westwater legal dispute closure

Sperone Westwater, a 50-year-old New York gallery, closed at the end of 2025 amid a legal dispute between its two co-principals, Gian Enzo Sperone and Angela Westwater. Newly filed court documents reveal governance failures, financial disputes, and allegations of unpaid artists. The petition, filed in New York Supreme Court, seeks judicial dissolution of the corporation and appointment of a receiver, citing irreconcilable divisions and a breakdown in communication between the partners. Financial records show gallery revenue fell from $20 million in 2021 to $3.6 million in 2025, with losses in five of the past seven years.

sperone westwater dealers lawsuit gallery closure

Three months before announcing the closure of Sperone Westwater after 50 years, co-founder Gian Enzo Sperone sued his partner Angela Westwater, alleging a "parasitic deadlock" and accusing her of wresting control of a corporation holding a 50 percent stake in the gallery. The lawsuit claims Westwater mishandled funds, withheld records, mismanaged rent payments, and increased her own salary without approval. The gallery, founded in 1975 as Sperone Westwater Fischer, has represented major artists including Bruce Nauman, Francesco Clemente, and Richard Long, and will close this December.

art basel air de paris

The French gallery Air de Paris has publicly withdrawn from Art Basel in Switzerland after being assigned a booth position its founders considered unfavorable. In an open letter, owners Florence Bonnefous and Edouard Merino stated they were offered a choice between their usual stand and a new one, only to have the rejected option imposed. The gallery, which has participated in Art Basel since 1999, accused the fair of prioritizing managerial efficiency over longstanding relationships. Art Basel defended its placement process, citing curatorial vision and logistical factors. Bonnefous, who served on the fair's selection committee, confirmed the gallery will still participate in Art Basel Paris in the fall.

israel 2026 venice biennale budget issues

Israel’s participation in the 2026 Venice Biennale is at risk due to government delays in renovating its pavilion. According to a Haaretz report, the Israeli culture ministry and foreign ministry, which co-manage the pavilion, have struggled to agree on a budget and schedule for the renovation, with the foreign ministry citing budgetary issues and the culture ministry awaiting a timeline. This follows the 2024 Biennale, where artist Ruth Patir shuttered the pavilion on opening day in protest of the Gaza war, and Israel’s absence from the 2025 Architecture Biennale.

Adelaide’s Tarnanthi is going on tour

Tarnanthi, the Art Gallery of South Australia's annual exhibition of Aboriginal and Torres Strait Islander art, is launching a national tour titled 'Tarnanthi on Tour: Too Deadly' starting July. The touring exhibition features over 30 works from the past decade of the festival, many conceived for Tarnanthi and never seen outside Adelaide. It will visit six regional galleries across Queensland, New South Wales, Victoria, and Western Australia over the next two years, including Rockhampton Museum of Art, Maitland Regional Art Gallery, Ngununggula, Caboolture Art Gallery, Geelong Gallery, and Lawrence Wilson Art Gallery.

Art Dubai 2026 first look: What to expect at the 20th fair

Art Dubai returns to Madinat Jumeirah for its 20th edition, running from Friday to Sunday with a free preview day on Thursday. The fair features a more concentrated layout than previous years, with gallery booths, institutional exhibitions, public art, poetry readings, DJ sets, performances, and multimedia installations gathered in the main conference area. Notable participants include co-founder John Martin, who returns as a gallerist nearly 20 years after helping launch the event, and Emirati artist Rami Farook, whose sand-built booth presents works reflecting on Dubai and the Gulf. Gallery One from Ramallah draws attention with Palestinian artist Amjad Ghannam's reinterpretations of Pablo Picasso, inspired by his experience as a former political prisoner.

​Lina Osama’s “Eyes Full of Dreams” exhibition at Picasso Zamalek is a must see

The article is a comprehensive listing of current and upcoming art exhibitions in Cairo, Egypt. It details numerous shows across various venues, including the "Disruption" senior exhibition at the Sharjah Art Gallery, the "Beyond Van Gogh" immersive experience in New Cairo, and group and solo shows at galleries like Mashrabia Gallery of Contemporary Art and Picasso Zamalek.

Nazir Tanbouli celebrates 35 years of exhibiting his work at Yassin art gallery

The Egyptian art scene is hosting a diverse array of exhibitions this April, headlined by the Egyptian debut of the global blockbuster "Beyond Van Gogh: The Immersive Experience" at District 5 in New Cairo. This digital spectacle, directed by Mathieu Saint-Arnaud, utilizes 360-degree projections to bring over 300 of Vincent van Gogh's masterpieces to life. Simultaneously, local institutions like the Sharjah Art Gallery at AUC and the Italian Cultural Institute are showcasing contemporary talent, including the graduating class of AUC and a solo exhibition by Italian-Egyptian artist Sarah Zaki.

Your guide to the best events of SF Art Week

SF Art Week returns with a packed schedule of events across San Francisco, including the Recology Artist in Residence exhibition featuring work made from materials sourced at the city's recycling center, a mural painting and unveiling by eL Seed in collaboration with incarcerated artists at San Quentin, and the launch of ICA SF's nomadic model with exhibitions by Tara Donovan and Lily Kwong at the Transamerica Pyramid Center. Other highlights include gallery openings at Paul Thiebaud Gallery, frame-making demonstrations at Aedicule, a new art fair at the Fairmont Hotel, and a curator-led tour at SHACK15, alongside workshops, a rave-themed reception at the Asian Art Museum, and a conversation between artist Lava Thomas and curator Key Jo Lee at MoAD.

Guillaume Cerutti Out as President of Paris’s Pinault Collection After 13 Months

Guillaume Cerutti has stepped down from his position as President of the Pinault Collection in Paris after only thirteen months. The institution, founded by billionaire François Pinault, has stated it has no plans to replace him or appoint an interim president, signaling a potential restructuring of its leadership.

For Carly Glovinski, Art and Gardening Grow Side by Side

Maine artist Carly Glovinski has opened "Into the Garden," her third solo exhibition with New York's Morgan Lehman Gallery. The show explores gardening as a parallel practice to art-making, inspired by her residency at Surf Point in southern Maine, where she discovered the overgrown grounds of Wild Knoll, the former home of author May Sarton. Glovinski planted a community garden there, the Wild Knoll Foundation Garden, and the experience led her to return to painting after a two-decade hiatus, creating acrylic works that express the experience of gardening rather than traditional landscapes.

And We Shall Go Through Their Hills Without Much Delay

This article documents three journeys into and out of Yunnan, China, spanning from 1874 to 2023. It begins with British interpreter Augustus Raymond Margary's failed colonial expedition to establish a trade route, which ended in his violent death and contributed to unequal treaties opening Southwest China. It then follows a Naxi student named Xueshan in 1937, whose railway journey introduced modern timekeeping to the region, and finally describes the construction of the Burma Road, a critical WWII supply route. The narrative concludes with the artist Cheng Xinhao retracing these routes on foot from Kunming toward Burma over a year and a half, reflecting on history, bodily experience, and the layers of infrastructure that have reshaped the landscape.

Show me the money: UK gallery and auction house accounts reveal reality of a tough market

Recent financial filings from UK-based art businesses reveal a stark downturn in the art market, highlighted by the sudden liquidation of Stephen Friedman Gallery. The gallery's collapse followed expensive expansion projects in London and New York, compounded by a £1.7m loss in 2023 and a significant debt of £11.4m to creditors. Other major players, including Thaddaeus Ropac, reported substantial revenue drops, with Ropac’s turnover falling from £49.6m to £36.4m as the industry grapples with rising overheads and economic volatility.

At a Los Angeles exhibition, contemporary artists face off with decommissioned Confederate statues

The exhibition "Monuments" opens on 23 October in Los Angeles, co-curated by Hamza Walker, Bennett Simpson, and artist Kara Walker, and staged at both the Museum of Contemporary Art, Los Angeles (MOCA) and the Brick. It features nearly 20 decommissioned Confederate statues—including the melted-down Robert E. Lee monument from Charlottesville—displayed alongside contemporary works by artists such as Leonardo Drew, Martin Puryear, Nona Faustine, Kahlil Robert Irving, Bethany Collins, and Walter Price. The show was inspired by the 2017 Unite the Right rally and the subsequent removal of dozens of monuments across the US.

Ai Weiwei to Reenact His Own Detention in 24-Hour Performance in Manchester

Artist and dissident Ai Weiwei will reenact his 81-day detention by China's Ministry of Public Security in a 24-hour performance titled "Sewing a Button" at Factory International's Aviva Studios in Manchester, England. The performance, part of his exhibition "Button Up!" running from July 2, 2025, will take place in a re-creation of his cell and involve Ai sleeping, eating, exercising, writing, washing, and being interrogated, with visitors able to book two-hour slots or a full 24-hour ticket. The work follows his earlier piece "S.A.C.R.E.D." (2013) and is joined by other commissioned works including "Eight-Nation Alliance Flags" and a new version of "History of Bombs."

Glenstone Is Celebrating 20 Years Of Art, Architecture, & Nature

Glenstone Museum in Potomac, Maryland, is celebrating its 20th anniversary as one of the largest private contemporary art museums in the United States. Founded in 2006, the institution offers a unique, immersive experience across 230 acres, combining world-class art, minimalist architecture, and expansive nature trails. The museum currently features major works by iconic artists such as Jackson Pollock, Ruth Asawa, and Kerry James Marshall within its two primary structures, The Gallery and The Pavilions.

Glasgow’s Centre for Contemporary Arts to close permanently

Glasgow's Centre for Contemporary Arts (CCA) is closing permanently and entering liquidation, effective January 30. The 33-year-old venue, a key hub for experimental art, has cancelled all programs and made its 39 staff redundant. The closure follows a series of financial and operational crises, including a fire-related closure, the pandemic, a staff dispute, and protests over its stance on Israel.

Art market bounce back continues in New York with Christie's $123.5m 21st-century sale

Christie’s 21st-century evening sale at Rockefeller Centre in New York on 19 November achieved $99.5 million before fees ($123.5 million with fees), surpassing last November’s equivalent sale of $106.5 million with fees. The sale featured 45 lots, with only one unsold (a Cecily Brown abstract), resulting in a 2% buy-in rate. Three artist records were set for Firelei Báez, Joan Brown, and Olga de Amaral. A major highlight was the collection of Chicago collectors Gale Neeson and the late Stefan Edlis, comprising 19 lots that realized $40.3 million ($49.2 million with fees), including works by Andy Warhol, Richard Prince, and Diego Giacometti. Other notable sales included Cindy Sherman’s *Untitled Film Still #13* (1978) at $2.2 million with fees, Ed Ruscha’s *How Do You Do?* at $6.7 million with fees, and a Warhol *The Last Supper* (1986) sold to Paris dealer Frederic Larroque for $8.1 million with fees.

Comment | What the art market doesn’t allow, branded content does for Tom Sachs

Tom Sachs has signed with The Lede Company, a US public relations firm, for agency representation, while Thaddaeus Ropac continues to represent him for gallery and fine art inquiries. This arrangement highlights Sachs's expanding activities beyond the traditional art market, including collaborations with Nike and Levi's, such as a Nike app promoting the Mars Yard 3.0 trainers. The announcement came in August, amidst other art-world movements like Jeff Koons's return to Gagosian from Pace Gallery.

John Middleton’s secret art collection is coming out of the shadows in a blockbuster two-museum show

John Middleton, managing partner of the Philadelphia Phillies, and his wife Leigh are revealing their previously secret art collection in a major two-museum exhibition titled "A Nation of Artists," opening in Philadelphia in 2026. About 120 paintings, furniture, and decorative arts from the Middleton Family Collection will be split between the Philadelphia Museum of Art and the Pennsylvania Academy of the Fine Arts, surrounded by over a thousand other objects from both institutions. The show, billed as the most expansive presentation of American art ever mounted in Philadelphia, coincides with the nation's Semiquincentennial celebration and is being promoted as a cultural highlight of the anniversary.

french audit louvre robbery security flaws no cameras

A leaked French government audit reveals that the Louvre Museum's security system is "outdated and inadequate," with significant gaps in CCTV coverage. The report, conducted by France's Court of Auditors and set for public release next month, found that modernization of security systems had been repeatedly postponed, and cameras were mostly installed only when rooms were refurbished. In the Denon Wing, home to the Mona Lisa, one-third of rooms lack cameras; in the Richelieu Wing, 75 percent of rooms are without them. Only 138 additional cameras have been installed since 2019. The audit was initiated by Louvre president and director Laurence des Cars after she assumed the role in 2021. The findings follow a robbery of French crown jewels from the museum and come amid staff strikes over understaffing and overcrowding.

Leading French Gallery Air de Paris Is Declaring Bankruptcy and Closing After 36 Years

Air de Paris, a leading French gallery, is declaring bankruptcy and closing after 36 years, as announced by cofounders Florence Bonnefous and Edouard Merino to Cultured. The gallery owes money only to its landlord and bank, not to its artists. The closure is attributed to fragile finances and health issues, including Bonnefous's Chronic Obstructive Pulmonary Disease. The gallery's farewell exhibition, “Oh What a Time,” featured artists such as Trisha Donnelly, Joseph Grigely, Pati Hill, Pierre Joseph, Allen Ruppersberg, Lily van der Stokker, Mona Varichon, and Amy Vogel. Bonnefous will continue to manage the estates of Guy de Cointet, Pati Hill, Dorothy Iannone, Bruno Pelassy, and Sarah Pucci, and work as a curator.

Bank of America ArtTactic Art Market Report 2026 Trends

b of a arttactic art market report 2026 trends

The US art market experienced a 23 percent increase in auction sales in 2025, reaching approximately $3.17 billion according to a joint report by Bank of America and ArtTactic. This growth was not fueled by a rise in general demand but was instead driven by high-value estate consignments, a return to established historical artists, and a heavy reliance on financial guarantees. The data indicates a shift away from the speculative flipping of 'wet paint' contemporary works, which saw negative returns for pieces held for less than five years.