Contemporary African art has transitioned from a niche regional interest to a central pillar of the global art market and institutional landscape. Artists such as El Anatsui, Njideka Akunyili Crosby, and William Kentridge are leading this shift, utilizing diverse media to address universal themes of identity, colonialism, and technology while maintaining deep local roots.
The Monte-Carlo Auction House is holding a sale of modern and contemporary art on February 4th. The auction features a diverse catalogue of paintings, sculptures, and design objects, headlined by Fernand Léger's 1932 oil painting "Contrasting Objects on a Blue Background," which carries a high estimate of €800,000.
On February 4th, 2026, the Monte-Carlo Auction House will hold a sale of modern and contemporary art featuring over 30 lots. The highlight is Fernand Léger's 1932 oil on canvas "Contrasting Objects on a Blue Background," estimated at €600,000–800,000. Other notable lots include a bronze sculpture by Robert Indiana (€140,000–180,000), a Chu Teh-Chun oil on canvas (€200,000–300,000), and works by Edgar Degas, Victor Vasarely, Niki de Saint Phalle, and Picasso. The sale also includes decorative pieces by Roger Capron and Maison Pergay.
AstaGuru, an Indian online auction house founded in 2008, has established itself as a leading digital platform for modern and contemporary art, antiques, sports memorabilia, fine silverware, and writing instruments. The company achieved a world record with a ₹17.75 crore bid for a Tyeb Mehta painting in 2017 and boasts a 93% lot sale ratio, auctioning works by notable artists such as Ramkinkar Baij, Krishen Khanna, and Nandalal Bose. Led by directors Tushar Sethi and Vickram Sethi, the platform offers secure bidding, physical previews in Mumbai, and services including consultation, restoration, and valuation.
Sotheby’s will hold its second auction in Saudi Arabia next month, featuring works by Pablo Picasso, Andy Warhol, and Safeya Binzagr, the late artist regarded as the spiritual mother of contemporary Saudi art. The auction, scheduled for January, follows Sotheby’s debut in the kingdom in February, which generated $17.28 million from fine art, designer items, and memorabilia. Unlike the first sale, this auction will focus exclusively on art, responding to stronger demand for Saudi works. Binzagr’s painting *Coffee Shop in Madina Road* (1968) will be a highlight.
Christie's New York held back-to-back Day Sales on November 18, 2025, featuring Impressionist and Modern Works on Paper in the morning and Impressionist and Modern Art Day Sale in the afternoon. The two sales achieved a combined total of $56.5 million, with top lots including Edgar Degas's *Danseuses sur la scène* ($1.14 million), Childe Hassam's *The Flower Seller* ($2.15 million), and Robert Delaunay's *Portrait de Jean Metzinger* ($2.03 million). The sales drew from notable collections such as those of Robert F. and Patricia G. Ross Weis, Carol and Terry Wall, and Arnold and Joan Saltzman, with strong bidding across American, Latin American, and European artists.
Christie’s is highlighting several Arab artists in its upcoming Modern and Contemporary Middle Eastern Art sale, scheduled for November 6 in London with an online preview from October 28 to November 11. Featured works include Paul Guiragossian’s 'Automne,' a masterpiece from the 1980s that previously achieved the second-highest auction price for the artist; Abdulhalim Radwi’s 'Untitled,' a semi-abstract cityscape blending traditional architecture and modernist influences; Samia Halaby’s 'Gardenia' from her 'Diagonal Flight' series; Kamal Boullata’s 'Nocturne I,' exploring geometric abstraction and exile; Mahmoud Said’s 'Mekarzel Hill,' a landscape once owned by a former Egyptian prime minister; and Laila Shawa’s 'City of Peace (Jerusalem),' a socio-political commentary on Palestinian life under occupation.
Auction houses are grappling with a rise in bidders attempting to back out of winning bids, often citing flimsy excuses like cats jumping on keyboards. Richard Wright, CEO of Rago/Wright, describes a 'cat button' on their website that locks the bid button to prevent accidental clicks, but some buyers still renege by blaming spouses or pets. The problem has worsened with online bidding, as remote participants may not grasp the binding nature of a winning bid. Houses like Freeman | Hindman and Eldred's require deposits and registration to mitigate risks, but defaults persist, with Wright estimating 1% of sales become problematic.
Sotheby’s London is hosting an exhibition previewing highlights from its upcoming Modern & Contemporary Middle East and Arts of the Islamic World & India auctions. Featured works include Abdulhalim Radwi’s 'Untitled (Desert Scene)' (1975), a mix of oil and sand on canvas estimated at £40,000–£60,000; Ahmed Mater’s 'X-ray Painting 5' from his pioneering series blending medicine and art; Paul Guiragossian’s 'Portefaix en Chomage,' depicting unemployed porters; and Fahrelnissa Zeid’s 'Untitled (Flowers)' from the late 1940s, bridging figurative and abstract styles.
Two forged Pablo Picasso prints from his Suite Vollard series, sold at a Stuttgart auction house, have been recovered as part of an international police operation led by Italian authorities. The Baden-Württemberg State Criminal Police Office (LKA) announced that an Italian national, believed to be a professional art restorer, is suspected of consigning four forged works to the auction house over several years. Two prints were recovered—one in Germany's Rhineland region and one in Austria—while two others were seized before delivery. The operation, code-named "Minotauro bis," began in 2022 and has led to the seizure of 104 fake contemporary artworks, the dismantling of a forgery laboratory in Rome, and the freezing of bank accounts and vehicles. Forgers used complex methods including fake watermarks, scanned images, and aging paper with coffee or tea.
Saudi artist Lulwah Al Hamoud debuted new work at The Digital Art Mile during Art Basel in Switzerland, presented by the Sigg Art Foundation. Her pieces, part of the ongoing 'Language of Existence' series, explore Arabic geometry and coded language, incorporating AI and biotechnology to blend tradition with cutting-edge technology.
Auction sales at Sotheby's, Christie's, and Phillips fell to $3.98 billion in the first half of 2025, a 6% decline from the same period in 2024 and the lowest total in at least a decade excluding the pandemic. Postwar and contemporary art, the traditional growth engine, dropped 19%. ArtTactic cites lingering concerns over global economic growth, inflation, and geopolitical tensions as dampening confidence, even as wealthy individuals' personal wealth and stock markets reach record highs.
The article reports that the New York Spring Marquee auctions in May 2025 generated $1.27 billion, an 8% decline from $1.38 billion in May 2024, followed by a 26% drop in London June auctions to £98 million. In response to this volatile market, auction houses like Christie’s and Sotheby’s are increasingly relying on third-party guarantees (or irrevocable bids), where a buyer agrees in advance to purchase a lot at a set price if no higher bid emerges. Data from Pi-eX Ltd shows that third-party guarantee coverage surged from near zero in 2021 to a record 73% in May 2025, with the Leonard & Louise Riggio collection being 99% backed by such guarantees.
A 2024 report by Artprice shows global art auction sales fell by a third to US$9.9 billion, the lowest since 2009, reflecting cautious collector behavior amid economic uncertainty. Despite the downturn, major auction houses—Sotheby’s, Christie’s, Phillips, and Bonhams—have opened new flagship showrooms in Hong Kong, signaling confidence in recovery. Phillips, Christie’s, Sotheby’s, and Bonhams all unveiled spaces in the West Kowloon Cultural District, The Henderson, Landmark Chater, and Six Pacific Place respectively. Online auctions and private sales are growing, with digital innovation helping engage younger buyers.
The article reports on the rapid growth of the contemporary African art market, which has more than doubled in value since 2016 to an estimated annual combined value of $72 million. Sales of ultra-contemporary works by African-born artists under 45 surged from $16.2 million in 2020 to $40.6 million in 2021, and the market could reach $1.5 billion this year. Aspire Art, a South African auction house, has set records for artists like Joseph Ntensibe, whose painting *Forest Scene* sold for R924,200, and Nicholas Hlobo, whose work *Intlambo yochulumanco* fetched R1,479,400.
A recently discovered early painting by Jean-Michel Basquiat, created in 1981 when he was 20, will be sold at Sotheby’s Contemporary Evening Auction in New York on May 13. The untitled work, unseen publicly for over 30 years, carries an estimate of $10 million to $15 million. Sotheby’s chairman Grégoire Billault highlighted the piece as a highlight of the Modern Evening Auction, with exhibitions opening May 2 through May 15. The auction also features top lots from Lucio Fontana, Robert Rauschenberg, and the collections of Sally and Victor Ganz and Barbara Gladstone.
Art advisor Ralph DeLuca, in his 'Street Smarts' column for Cultured, observes that amid political turmoil, tariffs, and art market jitters, wealthy collectors are shifting away from blue-chip contemporary art. Instead, they are investing in pop culture icons, historic artifacts, and natural history items like fossils, viewing them as safer bets. DeLuca notes that the May auction season saw high pass rates, failed guarantees, and lower prices, while galleries continue to close this summer.
Le Mexique face aux ventes d’art précolombien
The Mexican government is facing ongoing legal and diplomatic hurdles in its attempts to halt the sale of pre-Columbian artifacts in Paris. Despite formal protests from the Mexican embassy citing national heritage laws from 1827, auction houses like Millon continue to proceed with sales, generating millions in revenue. French authorities and legal experts maintain that Mexican national laws do not supersede French jurisdiction, which largely adheres to the 1970 UNESCO Convention regarding the illicit import and export of cultural property.
The Académie des beaux-arts has launched a subscription campaign to acquire a monumental tapestry by Jean Lurçat, recently rediscovered by Christie's. The tapestry, titled *Bestiaire* (1930), measures 3 by 6.45 meters and was originally created for the artist's home-studio in Paris's 14th arrondissement. It will be publicly unveiled at Christie's Paris on May 6–7, 2025, before a private sale between the Académie and the auction house for €110,000. Donations are being collected online or by check to fund the purchase.
A new auction platform called Bam Auctions will launch in Dubai this May, with its inaugural sale held on Saturday at Bayt AlMamzar, an independent cultural space in a restored villa. The sale features 21 lots of contemporary art from the UAE and the wider region, including works by Jaber Al Azmeh, Manal Al Dowayan, and Hale Tenger, with estimates ranging from a few hundred to several thousand dollars. Bidding will be in person with remote options via phone, WhatsApp, and absentee bids.
The Impressionist and Modern art category became the most lucrative market segment in 2025, generating $4.7 billion in sales—a 29.5% increase from 2024—as collectors favored established names amid a cautious market. The $10-million-plus bracket surged 68.6% to $1.5 billion, while the number of lots sold hit a decade high of 122,213. Postwar and contemporary art ranked second with $4.1 billion, but its average price per lot dropped to a decade low of $23,027. Old Masters saw a 41.2% rise to $708.6 million, partly driven by the Thomas A. Saunders III collection at Sotheby’s, though that sale fell short of estimates. Ultra-contemporary art continued its four-year decline, falling 26.5% to $229.9 million, with average prices tumbling 72.4% from their 2021 peak.
Sotheby’s has reported a return to profitability in 2025, posting a $53 million pre-tax profit following a significant $190 million loss the previous year. Driven by a 20 percent increase in sales totaling $7.1 billion, the auction house benefited from a broader 4 percent recovery in the global art market. Despite these gains, the company is navigating complex financial pressures, including a $10.2 million commission lawsuit from Cushman & Wakefield and the need to refinance $765 million in debt by 2027.
Tad Smith, former CEO of Sotheby's and current chairman of the NFT project Doodles, has agreed to acquire most of the assets of the digital collectibles platform Candy Digital. Upon the deal's expected closure in the coming weeks, Smith will also assume the role of CEO, signaling a significant personal and financial bet on the future of the sector.
Sotheby's auction house and Sotheby's Institute of Art, through their parent company Edconic, have launched a formalized, paid fellowship program. The initiative places 20 master's students from the Institute's New York program into 12-week paid internships at the auction house, with plans to expand to London and eventually involve 60 students. The program aims to provide practical, credit-earning work experience directly within the art market.
Christie's auction house achieved a record-breaking $94.5 million sale of the Jim Irsay Collection, a trove of pop culture memorabilia. The four-sale series set 28 world records, with every lot selling for a cumulative total nearly four times its low estimate. Top lots included David Gilmour's "Black Strat" guitar ($14.55M), Jack Kerouac's 'On the Road' typescript scroll ($12.1M), and Jerry Garcia's "Tiger" guitar ($11.56M).
The auction industry's middle market, generally defined as lots valued below $1 million, is experiencing intense competition and shrinking profit margins. While this segment accounts for the vast majority of transactions and a significant share of auction house earnings, rising overhead and sellers demanding complex financial deals—like enhanced hammers and guarantees—are squeezing profitability. Regional and specialized auction houses are fiercely competing for business against each other and against third-party online platforms.
The Vilcek Foundation announced the recipients of its 20th annual prizes, honoring Matthew Bogdanos, a former classics scholar, US Marine colonel, and assistant district attorney in New York, with the Marica Vilcek Prize in Art History. Bogdanos, who launched the Antiquities Trafficking Unit in 2017, has overseen the seizure of over 5,000 looted antiquities valued at more than $300 million from museums, auction houses, and private collectors. He declined the $100,000 cash award, directing the foundation to donate the funds to nonprofits of his choosing.
Nifty Gateway, one of the earliest and most prominent NFT marketplaces, announced it will shut down on February 23, 2026, citing sharply declining activity. The platform, founded in 2018 by twins Duncan and Griffin Cock Foster and acquired by Gemini in 2019, has entered withdrawal-only mode, advising users to move their assets before the deadline. At its peak in 2021, Nifty Gateway reported $300 million in gross merchandise value, boosted by a Sotheby's partnership for a $17 million NFT drop by the artist Pak. The closure follows the collapse of the NFT boom, with trading volumes plummeting and other platforms like Async Art, KnownOrigin, and MakersPlace already shuttered.
Bonhams ended 2025 with $970 million in global sales, one of its strongest recent performances, driven by growth across regions and categories including fine art, luxury goods, and collector cars. The year’s top lot was a 2020 Bugatti Divo that sold for $9 million. However, the results are overshadowed by a Financial Times report of a £213 million pre-tax loss in 2024, largely due to £153 million in impairment charges tied to a change in ownership—the house was sold by private-equity firm Epiris to Pemberton Asset Management in October 2025. Bonhams Hong Kong posted a record $104 million, UK sales rose 4.5% to $285 million, and digital sales accounted for 46% of total value.
Bonhams auction house in London will hold a sale on February 18 of books, photographs, and ephemera related to Irish writer Oscar Wilde, drawn from the 60-year collection of former antiques dealer Jeremy Mason. Highlights include a signed 1891 copy of *The Picture of Dorian Gray* (estimated $16,000–$24,000), a signed 1898 copy of *The Ballad of Reading Gaol* ($13,000–$20,000), and a letter to a child in which Wilde describes himself as a wallflower ($5,400–$8,100). The sale spans Wilde’s life from childhood to his literary success, imprisonment, and exile.