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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.

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The U.S. Department of Justice has released approximately 3 million additional files related to the late financier Jeffrey Epstein, sparking a new wave of resignations and investigations across the global art world. The documents detail extensive connections between Epstein and high-profile figures, including museum leaders, major collectors, and artists. While inclusion in the files does not prove criminal wrongdoing, the public pressure following these revelations has forced several prominent individuals to step down from influential institutional roles.

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Jussi Pylkkanen, former Christie's chairman, analyzes the upcoming New York 20th and 21st Century Art sales, noting a return to market confidence after strong European auctions in London and Paris aligned with Frieze and Art Basel Paris fairs. Christie's London posted its best October sales since 2018, Sotheby's had its most valuable Paris season, and a Picasso portrait sold for $37 million at Hôtel Drouot. The season shows a shift from speculative buying toward established artists like Bacon, Freud, Picasso, and Klimt, with 27 works valued over $10 million, led by Gustav Klimt's *Portrait of Elizabeth Lederer* from the Leonard Lauder collection, estimated to exceed $150 million at Sotheby's.

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Jeff Koons will present his first solo show at Gagosian in seven years, titled “Porcelain Series,” opening November 13 at the gallery’s 541 West 24th Street location. The exhibition features new and recent sculptures and paintings that explore beauty and mythology, including mirror-polished stainless steel figurines modeled on 18th- to early-20th-century porcelain and oil paintings incorporating historical engravings. Koons, who left Gagosian in 2021 for Pace and returned in 2025, debuted new work at Frieze New York in May.

Mary Lovelace O’Neal Leaves Her Mark

Abstract mixed-media painter Mary Lovelace O’Neal, a Civil Rights activist and influential artist known for her monumental canvases and inventive 'lampblack' works, died at age 84. The article also reports that Manhattan’s Neue Galerie will merge with the Metropolitan Museum of Art, and covers the NADA New York art fair, Todd Gray's exhibition, and the Lehman College Art Gallery thesis show.

Joan Semmel Is Doing Her Best Work at 93

Nonagenarian painter Joan Semmel is experiencing a significant career renaissance, marked by a major survey exhibition at the Jewish Museum and a concurrent solo show at Alexander Gray Associates. At 93, Semmel continues to work from her Soho studio, where she has lived for over fifty years, producing unflinching figurative paintings that explore the female body, aging, and the gaze. The article traces her trajectory from her early education at Cooper Union and a formative period in Madrid to her pivotal role in feminist art history.

5 free exhibitions to enjoy without cost during the May long weekends

5 expositions gratuites pour profiter sans frais des ponts du mois de mai

Beaux Arts Magazine highlights five free exhibitions to enjoy during the long weekends of May 2026 in France. The selections include "Diseuses de silence" at Espace Monte-Cristo in Paris, featuring 21 female sculptors such as Prune Nourry and Niki de Saint Phalle; a retrospective of Ernest Pignon-Ernest at Musée Ziem in Martigues; and the first French retrospective of Peruvian photographer Javier Silva Meinel at Maison de l'Amérique latine in Paris. Other venues mentioned are the Musée Ziem and the Magasins Généraux in Pantin, offering diverse contemporary art experiences without admission fees.

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Chicago's annual art week unfolded with gallerist Daisy Sanchez documenting the scene for Artnet News's 'Wet Paint in the Wild' column. Sanchez, who recently co-opened Hans Goodrich gallery with Peter Anastos, attended the Renaissance Society's annual benefit, EXPO Chicago, and after-parties. The week featured artists including Joanne Greenbaum, Leah Ke Yi Zhang, B. Ingrid Olsen, and Isabelle Frances McGuire, with appearances by curators Myriam Ben Salah, Karsten Lund, and Giampaolo Bianconi, among others.

Latin American galleries dominate at Frieze New York

Frieze New York 2025 features a surge of 14 Latin American galleries from Mexico, Argentina, and Brazil, reversing a trend of withdrawal seen during the first 100 days of Donald Trump’s second presidency. Non-profit support from organizations like Latitude, which helped all eight Brazilian exhibitors, and a concerted effort by Frieze’s Americas team have enabled this increased presence, despite ongoing challenges such as high shipping costs, tariffs, and visa denials—exemplified by Mexican artist Dr Lakra being unable to attend his own show at Kurimanzutto.

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Artist and activist Michele Pred has opened a solo exhibition at Nancy Hoffman Gallery in New York, showcasing a body of work that addresses the erosion of civil and reproductive rights. The exhibition features her signature electroluminescent wire-stitched vintage handbags, sculptures made from found objects like wooden gavels and disarmed bullets, and large-scale inflatable abortion pill sculptures. Pred’s practice, rooted in her upbringing between California and Sweden, utilizes approachable domestic objects to deliver urgent political messages regarding bodily autonomy and social justice.

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Galleries across Tehran have begun closing their doors indefinitely following Israel's Friday air strike on the Iranian capital's nuclear and military facilities. Iran retaliated with dozens of missiles toward Israeli territory, calling the strikes a 'declaration of war.' Shirin Gallery postponed two exhibitions, including 'Uncollective Memories' by Leila Yaghoubi and 'Endless Joy' by Mazyar Tahouri. Laleh Gallery postponed its group show 'New Saghakhaneh,' while Moshen Gallery, Hoor Gallery, and Bavan Gallery announced closures until further notice. Ab-Anbar, a Tehran-rooted gallery now based in London, instead opened its doors for a community lunch. The Israel Museum in Jerusalem and the Tel Aviv Museum of Art also closed indefinitely citing national security guidelines.

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London's Piano Nobile gallery has opened "Barbara Hepworth: Strings," the first exhibition dedicated to the British sculptor's use of string in her work. The show explores how Hepworth (1903–1975) incorporated string into sculptures, paintings, and drawings from 1939 onward, including pieces never before exhibited in the U.K. Highlights include the rediscovered "Theme on Electronics (Orpheus)," 1956, commissioned by Mullard and long thought lost, and "Pierced Hemisphere (Telstar)," 1963, making its U.K. debut. Curated by Michael Regan, the exhibition draws on Hepworth's letters and archival material to illuminate her innovative approach to tension, space, and light.

Mexico’s art community calls for greater transparency in management of treasured collection

Over 350 Mexican cultural professionals have signed an open letter demanding greater transparency from the Instituto Nacional de Bellas Artes y Literatura (INBAL) regarding the management and export of the Gelman Collection. The collection, recently acquired by the Zambrano family and rebranded as the Gelman Santander Collection, includes 18 works by Frida Kahlo and other major 20th-century Mexican artists, with 30 pieces designated as national artistic monuments requiring state oversight.

With new Costume Institute exhibition and galleries, the Met makes powerful statement about fashion's place in museums

The Metropolitan Museum of Art has opened a major new Costume Institute exhibition titled "Costume Art," which runs until January 10, 2027, in the newly designed Condé M. Nast Galleries by Peterson Rich Office. Curated by Andrew Bolton with Stephanie Kramer, Ayaka Iida, and Emily Mushaben, the show features nearly 400 objects from all 19 of the museum's collecting departments, organized around body typologies such as the "Classical Body" and "Aging Body." The exhibition marks a significant institutional commitment to fashion as a central curatorial concern, with the 12,000-square-foot space adjacent to the Great Hall.

‘Christmas came early’: Art Basel Miami Beach opens with avalanche of blue-chip sales

Art Basel Miami Beach opened its 23rd edition with a surge of blue-chip sales, signaling renewed market confidence. Major galleries reported strong early results: David Zwirner sold a Gerhard Richter painting for $5.5m and an Alice Neel for $3.3m; Hauser & Wirth saw sales 40% higher than last year, including a George Condo for nearly $4m and a Louise Bourgeois for $3.2m. Other notable sales included works by Alex Katz, Pablo Picasso, Sam Gilliam, and Robert Rauschenberg, with 283 galleries participating at the Miami Beach Convention Center.

Our Guide to New York Art Week 2025

New York Art Week 2025 is condensed into a single mega-week starting May 5, featuring major art fairs including Frieze New York, Independent, and TEFAF New York, alongside gallery openings, auction previews, and museum shows. The guide provides a day-by-day itinerary, fair overviews, and practical tips for navigating the week, emphasizing that many events are ticketed or free and do not require VIP passes.

Art Workers Plan Venice Biennale Strike

Cultural workers, labor unions, and grassroots groups are planning a strike at the Venice Biennale on Friday, May 8, organized by the Art Not Genocide Alliance and others. The action, described as the first organized strike within the Biennale, aims to protest Israel's inclusion in the event, with participants withholding their labor and calling to "shut down the genocide pavilion." The article also covers other art news, including exhibitions in Los Angeles, a profile of nonagenarian artist Mohammad Omer Khalil, and memes about the Met Gala.

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Millea Bros. auction house in New Jersey has sold artworks and furnishings from the estate of convicted sex offender Jeffrey Epstein, generating approximately $100,000 in sales so far. The items, which include a sculpture by Arnaud Kasper and a plaster work by Tom Otterness, were photographed in Epstein's Upper East Side mansion by federal authorities. Sales began in June 2024, with a second round starting last week, though auction descriptions omit any mention of Epstein's identity, meaning buyers may unknowingly acquire pieces linked to the notorious figure. Proceeds go toward administering the estate, which must pay $121 million to the Epstein Victims' Compensation Program and has already disbursed over $50 million in direct settlements.

11 Must-See Museum Shows This Fall

Maxwell Rabb's article for Google News highlights 11 must-see museum exhibitions opening worldwide in fall 2025. Among the featured shows are Ayoung Kim's "Delivery Dancer" video trilogy at MoMA PS1 in New York, the largest UK survey of Kerry James Marshall's work titled "The Histories" at the Royal Academy of Arts in London, and "Strange Realities: The Symbolist Imagination" at the Art Institute of Chicago, which explores the Symbolist movement across Europe. The article also mentions other major retrospectives and thematic exhibitions spanning Symbolism to Nigerian modernism.

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Cultured magazine profiles Houston collectors Leigh and Reggie Smith as the city's Untitled Art Fair opens. The couple, who have collected contemporary art for over 30 years, discuss their diverse collection spanning international and local artists, including works by Yinka Shonibare, Francis Picabia, and overlooked mid-century women artists. They highlight Houston's collaborative art ecosystem, public art funding, and the distinct character of its scattered venues.

cultured young dealers list art gallerists

Cultured magazine has published its first Young Dealers List, highlighting 23 galleries under five years old that are revitalizing the art world. The list was compiled from over 100 recommendations gathered from more than 40 collectors, advisors, and curators. The article profiles one of the selected gallerists, Adora Mba, founder of ADA Contemporary Art Gallery in Accra, Ghana, who opened her space in 2020 after working as a cultural news producer. Mba emphasizes supporting emerging African artists and has dedicated her 2025 program to women artists and curators.

More than 70 Venice Biennale artists withdraw from awards

More than 70 artists participating in the 2025 Venice Biennale have withdrawn from consideration for the Golden Lion awards, which this year will be decided by public vote. The artists, including Walid Raad, Laurie Anderson, and Yto Barrada, signed a statement published on e-flux on May 9, withdrawing in solidarity with the entire prize jury that resigned last month over a dispute regarding the participation of Israel and Russia. The Biennale management replaced the traditional jury-selected awards with a new "Visitor Lion" system where ticket holders can vote, but the Biennale has acknowledged that if any of the withdrawing artists win, they will not collect the award.

A Long-Running Case Centering on Alleged Robert Indiana Forgeries Is Resolved with a $102 M. Settlement

A New York jury has awarded $102.2 million in damages to the Morgan Art Foundation in a long-running copyright and forgery case against art publisher Michael McKenzie. The jury found that McKenzie created unauthorized and altered versions of works by Pop artist Robert Indiana, including multiple iterations of Indiana's iconic LOVE prints and sculptures, as well as works such as *The Ninth American Dream* (2001), *USA FUN* (1965), and a sculpture titled *BRAT*. The lawsuit, which began in 2018 shortly before Indiana's death at age 89, alleged that McKenzie and others sought to isolate the artist and profit from selling forged works. McKenzie's lawyer indicated he may appeal.

Museum openings: V&A East and Los Angeles County Museum of Art. Plus, William Blake in Dublin—podcast

Two major museum projects have reached completion as London’s V&A East prepares for its public debut and the Los Angeles County Museum of Art (LACMA) unveils its new $700m David Geffen Galleries. V&A East opens with a focus on community-driven programming and its inaugural exhibition, 'The Music is Black: A British Story,' while LACMA’s long-awaited Peter Zumthor-designed building begins member previews amidst ongoing debates regarding its scale and cost.

The art of technology jostles for position in venues both new and historic

Canyon, a new 40,000-square-foot institution dedicated to moving image, sound, and performance art, is set to open this autumn on Manhattan’s Lower East Side. Founded by entrepreneur Robert Rosenkranz and led by former Mass MoCA director Joe Thompson, the space aims to bypass the slow curatorial cycles of traditional museums by hosting international media-rich exhibitions with a faster 18-to-24-month turnaround. Unlike traditional collecting institutions, Canyon will focus on public accessibility and domestic-style hospitality rather than building its own permanent archive.

Spain’s Culture Minister Rejects Guernica Transfer, but Basque Leaders Refuse to Take No for an Answer

Spain’s Culture Minister, Ernest Urtasun, has officially rejected a request from the Basque regional government to temporarily transfer Pablo Picasso’s iconic painting, Guernica, to the Guggenheim Museum Bilbao. Citing conservation reports from the Museo Reina Sofía, Urtasun argued that the 1937 masterpiece is too fragile to travel and that his primary duty is to preserve the work for future generations. Basque leaders, led by Lehendakari Imanol Pradales and Senator Igotz López, have challenged this decision, calling for an independent feasibility study and appealing directly to Prime Minister Pedro Sánchez.

Inside the Fight to Keep a Trove of Frida Kahlo Works from Leaving Mexico

The Gelman Collection, featuring 11 essential masterpieces by Frida Kahlo, is at the center of a heated legal and cultural dispute following news of its transfer from Mexico to Spain. Acquired by the Zambrano family and managed by the Banco Santander Foundation, the collection is slated for a multi-year residency at the new Faro Santander cultural hub. Critics and historians argue the move potentially violates Mexico’s strict heritage laws, which designate Kahlo’s works as national monuments subject to permanent export bans.

Closure of DePaul Art Museum leaves collection in limbo

DePaul University has announced the permanent closure of the DePaul Art Museum (DPAM) effective June 30, citing a projected $27.4m budget deficit for 2026. Despite an open letter signed by over 3,000 students and faculty, the administration is moving forward with the shutdown of the $7.8m facility that has served as a cultural anchor since 2011. Director Laura-Caroline de Lara had successfully raised funds to keep the museum operational through the current season, but the university's leadership remains committed to the closure as part of a broader cost-cutting initiative.

The New Museum’s ‘New Humans’ Reckons With Human-Machine Relations in the Workplace

The New Museum has inaugurated its recently renovated space with 'New Humans: Memories of the Future,' a sprawling exhibition featuring over 700 works across four floors. The show explores the historical and evolving relationship between humanity and labor, tracing the narrative from ancient Mesopotamian myths to the industrial age and the rise of robotics. Key sections like 'Mechanical Ballets' highlight how artists have historically responded to the dehumanization of the workforce through the lens of early 20th-century avant-garde movements.

Rosalía Apologizes for Picasso Comments on TikTok

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Spanish pop star Rosalía issued a public apology on TikTok after facing backlash for comments regarding Pablo Picasso. During a podcast interview with writer Mariana Enriquez, the singer initially stated she did not care to differentiate Picasso’s art from his personal life; however, she later retracted those statements, admitting she was unaware of the artist's well-documented history of physical and emotional abuse toward women.