Marlene Dumas’s $13.6m semi-nude breaks auction record for a living female artist

Christie's 21st century evening sale on Wednesday achieved $79 million ($96.5 million with fees), falling within revised estimates but below original projections and prior sale totals. The standout lot was Marlene Dumas's 1997 painting *Miss January*, which sold for $13.6 million with fees, setting a new auction record for any living female artist. The sale saw three of four records set for women artists, including Simone Leigh, Emma McIntyre, and Louis Fratino, though bidding was subdued overall with heavy reliance on third-party guarantees.

Lithuanian, Latvian, and Estonian Pavilions Stage Pro-Ukraine Procession During Venice Biennale

On May 6, 2026, the Lithuanian, Latvian, and Estonian pavilions at the Venice Biennale organized a procession in solidarity with Ukraine, walking approximately one and a half miles from the Lithuanian Pavilion in the Fucina del Futuro to the Estonian pavilion. The action honored Ukrainian cultural workers creating under war conditions and those who have died. It is one of several political protests at the contentious 2026 Biennale, including demonstrations by Pussy Riot and FEMEN at the Russian pavilion, a "Solidarity Drone Chorus" opposing Israel's inclusion, and a planned 24-hour strike by the Art Not Genocide Alliance.

Sotheby’s Tries Again to Sell $40 M. Picasso Painting That Didn’t Make It to Auction in 2008

Sotheby’s has announced the sale of Pablo Picasso’s 1909 Cubist masterpiece, Arlequin (Buste), which is expected to fetch approximately $40 million during the New York marquee auctions this May. The painting is the crown jewel of a collection belonging to the late Surrealist artist Enrico Donati and his wife Adele. This marks the second time Sotheby’s has attempted to sell the work; it was famously withdrawn from a 2008 auction just a week before the sale due to undisclosed private reasons.

Veteran Advisor Patti Wong on How the Auction Market Is Recalibrating

Veteran art advisor Patti Wong, who left Sotheby's after three decades to start her own firm, analyzes a significant recalibration in the auction market. She notes a new discipline among auction houses and buyers following the frothy post-pandemic years, with houses becoming more selective, relying heavily on third-party guarantees, and facing greater buyer scrutiny on provenance and estimates. She also highlights the industry's expansion into new geographies like Saudi Arabia and new categories like luxury goods.

Bank of America ArtTactic Art Market Report 2026 Trends

b of a arttactic art market report 2026 trends 1234776748

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.

auctions houses middle market competition art 1234777686

The auction industry's "middle market"—typically defined as lots under $1 million—is facing a period of intense competition and shrinking profit margins. While these lower-priced works account for the vast majority of transaction volume and a significant portion of earnings, the overhead costs of selling them remain high. Furthermore, aggressive financial maneuvers like guarantees and "enhanced hammers," once reserved for blue-chip masterpieces, are now being demanded by sellers and advisors at much lower price points.

phillips modern contemporary sale london 2751222

Phillips’s Modern and contemporary evening sale in London concluded with a total of £13 million ($17.3 million), marking a 16 percent decline compared to the previous year's equivalent auction. The sale was led by Andy Warhol’s "Mao" and Vilhelm Hammershøi’s "Interior of Woman Placing Branches in Vase on Table," both of which fetched £1.6 million including fees. Despite the overall contraction in total sales, the auction saw a significant breakout for Danish painter Anna Ancher, whose work "Young Girl Reading a Letter" sold for £154,800, tripling its high estimate and setting a new auction record for the artist.

by the numbers sothebys london march 2026 2751039

Sotheby’s London Modern and Contemporary evening sale in March 2026 achieved a robust £130.6 million ($175 million), marking a significant 108.6 percent increase over the previous year's equivalent auction. The event was a "white glove" sale, with all 53 offered lots finding buyers, led by a Francis Bacon self-portrait that fetched £16 million. A notable highlight was a record-breaking £5.2 million sale for Leon Kossoff’s "Children’s Swimming Pool," which sparked a competitive ten-buyer bidding war.

top auction moments of 2025 2712941

Artnet News rounds up the standout auction moments of 2025, highlighting both triumphs and disappointments. M.F. Husain's *Untitled (Gram Yatra)* (1954) smashed expectations at Christie's, selling for $13.8 million—more than double the artist's previous record and the first South Asian Modern work to exceed $10 million. In contrast, Piet Mondrian's *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* (1922) fell short of its $50 million estimate at Christie's, missing the artist's auction record, while Alberto Giacometti's *Grande tête mince* (1955) failed to sell at Sotheby's despite a $70 million asking price, underscoring market volatility.

collector sues sothebys modigliani authenticity 2719506

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.

sothebys modern sales by the numbers 2717820

Sotheby's three-part modern art evening auction in New York on Thursday night achieved a total of $304.6 million, a dramatic increase from the $93.1 million equivalent sale last year. The sale featured 69 lots, with three withdrawn and none bought in, resulting in a 95% sell-through rate. Top lots included Vincent van Gogh's still life "Piles de romans parisiens et roses dans une verre" (1887), which sold for $62.7 million with premium to private advisor Patti Wong, and a work by Frida Kahlo. Third-party guarantees covered 55% of the presale low estimate, but bidding remained competitive throughout.

phillips evening sale 2025 stats 2716960

Phillips held its Modern and contemporary art evening sale in New York on Wednesday night, achieving $67.3 million in total sales—a 24.4 percent increase from the same auction last November. The sale featured 33 lots with a 94 percent sell-through rate, including a triceratops fossil that sold for $5.4 million through a partnership with natural history dealer Christian Link. Top lots included Francis Bacon's *Study for Head of Isabel Rawsthorne and George Dyer* (1967) at $16 million with premium, Jean-Michel Basquiat's *Exercise* (1984) at $3.8 million, and two works by Ruth Asawa. Only one artwork, a Jadé Fadojutimi, failed to sell, and there were no withdrawals.

christies 20th century art november new york by the numbers 2715393

Christie’s fall auction season in New York opened with a robust evening sale of 20th-century art on Monday night at Rockefeller Center, achieving a total of $690 million after fees. The sale featured an 18-lot offering from the private collection of Robert and Patricia Weis, followed by the main 20th-century auction. The top lot was Mark Rothko’s *No. 31 (Yellow Stripe)* (1958), which sold for $62 million, while Claude Monet’s *Nymphéas* (1907) brought $45.5 million. The sale had a 95 percent sell-through rate, with 55 of 80 lots guaranteed, and strong in-person bidding provided a boost of market confidence after months of art fair cancellations and gallery closures.

picasso panama papers ganz collection 469646

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.

phillips london evening sale frieze results 1234757669

Phillips’s Frieze Week evening sale in London totaled £10.33 million ($13.88 million) across 22 lots, a 32% decline from last year’s £15.1 million on 31 lots. The sale was 82% sold by lot and 84% by value. Highlights included a new world auction record for Emma McIntyre, whose painting *Seven Types of Ambiguity* (2021) sold for £167,700, and strong results for Martha Jungwirth and Flora Yukhnovich. However, major lots by Banksy, Andy Warhol, and Jean-Michel Basquiat underperformed or failed to sell, and four lots went unsold, including works by Andreas Gursky and Sigmar Polke.

sasan ghandehari lawsuit christies picasso auction guarantee 1234749641

Collector Sasan Ghandehari has filed a lawsuit against Christie’s in the High Court of England & Wales, alleging the auction house failed to disclose that a Picasso painting he guaranteed was owned by a man convicted of drug-related charges. The work, Picasso’s *Femme dans un rocking-chair* (1956), was offered in a February 2023 London evening sale with a third-party guarantee from Ghandehari’s company, Brewer Management Corporation (BMC). Ghandehari claims Christie’s told him the owner was José Mestre Jr., but the painting actually belonged to his father, José Mestre Sr., who was sentenced to nine years in prison after 202 kilos of cocaine were found on a cargo ship in 2010. The lawsuit seeks to cancel the guarantee contract and recover a £4.8 million partial payment.

global auction sales h1 2025 arttactic analysis 1234747389

Global auction sales at Christie’s, Sotheby’s, and Phillips fell 6.2% in the first half of 2025 compared to the same period last year, while the number of lots sold rose 1.3%. ArtTactic’s analysis reveals significant category shifts: post-war and contemporary art dropped 19.3% to $1.22 billion, impressionist and modern art fell 7.7% to $989.5 million, and luxury sales were nearly flat. In contrast, Old Masters surged 35.6% to $171.2 million, and design, decorative arts, and furniture rose 20.4% to $172 million. The decline in high-value trophy lots, including the withdrawal of Andy Warhol’s *Big Electric Chair* and Alberto Giacometti’s *Grande tête mince*, contributed to the slump in contemporary sales.

phillips pollock painting lawsuit david mimran 1234747383

Phillips auction house has filed a lawsuit against David Mimran, a film producer and son of billionaire Jean Claude Mimran, alleging he failed to pay $14.5 million for a Jackson Pollock drip painting (ca. 1948) that sold at a New York auction in November 2024. Mimran had agreed to a third-party guarantee for the work, which sold for $15.3 million with fees, but according to Phillips, he sought an extension and then claimed he could not pay. The auction house is seeking nearly $15 million including interest.

may marquee auctions recap analysis christies sothebys 1234742284

Christie's marquee auctions in New York generated $489 million across two sales, led by the $272 million 'Leonard & Louise Riggio: Collected Works' sale and a $217 million 20th century art evening auction. The house guaranteed all 39 lots in the Riggio sale and used third-party guarantees on many others to mitigate risk in a soft market. Top lots included Piet Mondrian's *Composition with Large Red Plane, Bluish Gray, Yellow, Black, and Blue* (1922) at $47.6 million, Claude Monet's *Peupliers au bord de l'Epte, crépuscule* (1891) at $49.2 million, and Mark Rothko's *No. 4 (Two Dominants) [Orange, Plum, Black]* (1950–51) at nearly $39 million. Two Warhols were pulled before the sale, highlighting ongoing challenges in selling high-value works at auction.

at christies 13 6 million marlene dumas painting sets new record for living female artist at auction 2644908

Christie's 21st-century evening sale in New York on Wednesday night totaled $96.5 million, surpassing last year's $80.3 million, though the auction was characterized by caution, few fireworks, and a reduced number of lots. The headline event was Marlene Dumas's painting *Miss January* (1997) selling for $13.6 million with premium, setting a new auction record for a living female artist. The work, estimated at $12–18 million, was guaranteed and sold to a client bidding through Christie's deputy chairman Sara Friedlander; Miami collectors Don and Mera Rubell were the consignors. Other notable results included new records for Simone Leigh, Emma McIntyre, and Louis Fratino, while the top lot was Jean-Michel Basquiat's *Baby Boom* (1982) at $23.4 million. Four of 43 lots were withdrawn, and several works failed to sell, including an Ellsworth Kelly canvas with a $2 million low estimate.

by the numbers a marathon night at sothebys moves 186 1 million worth of contemporary art 2646123

Sotheby's held a marathon night of three sales in New York, totaling $186.1 million in contemporary and ultra-contemporary art. The evening began with single-owner sales from the collections of the late dealer Barbara Gladstone and veteran dealer Daniella Luxembourg, both achieving 'white glove' results with no buy-ins. The main sale featured 42 lots, led by Jean-Michel Basquiat's *Untitled* (1981), which sold for $16.4 million. Overall, 66 of 69 lots sold, with a 94% sell-through rate, though the total fell short of the $234.6 million achieved in the equivalent sale last year.

by the numbers despite 70 million giacometti failure sothebys made money at modern evening sale 2644393

Sotheby's Modern art evening sale in New York generated $186.4 million in total sales after fees, but the headline was the failure of Alberto Giacometti's 1955 sculpture *Grande tête mince (Grande tête de Diego)*, estimated at $70 million, which failed to receive a single bid. Despite the high-profile flop, Sotheby's walked away with $34.4 million in buyer's premium net of fees paid to third-party backers, and because it did not guarantee the Giacometti, it faced no financial risk from the unsold lot. The top seller was Pablo Picasso's *Homme assis* (1969), which sold for $15.1 million with fees. The sale's sell-through rate was 76.9 percent, and the hammer total of $152 million fell $88.3 million below the presale low estimate.

sothebys modern art may 2025 sale report giacometti 1234742181

Sotheby's modern art evening sale in New York on Tuesday night achieved $186.4 million with buyer's premium across 60 lots, with a sell-through rate of 83.3%. Top lots included Pablo Picasso's *Homme assis* ($15.1 million), Georgia O'Keeffe's *Leaves of a Plant* ($13 million), and a new auction record for Paul Signac's *Saint-Georges. Couchant (Venise)* ($8.1 million). However, the sale was overshadowed by the failure of Alberto Giacometti's *Grande tête mince*, a 1955 bronze bust estimated north of $70 million, which went unsold after bidding stalled at $64 million.

‘It has become a symbol of hope’: the epic journey of Ukraine’s origami deer to the Venice biennale

Ukrainian artist Zhanna Kadyrova's concrete origami deer sculpture, originally installed in Pokrovsk in 2018, has been evacuated from the war-torn Donetsk region and transported across Europe to become the centerpiece of Ukraine's national pavilion at the 2026 Venice Biennale. The sculpture, which replaced a Soviet fighter-bomber monument in a local park, was rescued in August 2024 by co-curator Leonid Marushchak amid intensifying Russian attacks, with the help of city authorities and museum staff.

Phillips Sues Wealthy Scion for Failure to Come Through on Pollock Purchase

Phillips auction house has filed a lawsuit against film producer David Mimran, alleging he failed to pay $14.5 million for a Jackson Pollock painting after serving as a third-party guarantor. The untitled ca. 1948 white-on-black drip painting, which had appeared in a 1998 retrospective at the Museum of Modern Art, received no bids at a November auction in New York, leaving Mimran legally obligated to purchase it. Mimran missed two payment deadlines and later claimed he could not meet a third, prompting Phillips to file a complaint with the Supreme Court of New York.

The Ukrainian Pavilion’s Deer Seen Around the World

Zhanna Kadyrova's concrete sculpture "The Origami Deer" (2019) is prominently displayed at the entrance to the Giardini during the 61st Venice Biennale, part of her project "Security Guarantees" in the Ukrainian Pavilion. Originally installed in Pokrovsk, eastern Ukraine, the work was removed in 2024 as Russian forces advanced, then traveled through Vienna, Warsaw, Prague, Berlin, and Paris before reaching Venice—a journey mirroring the displacement of millions of Ukrainians. The sculpture, shaped like a deer and evoking folded paper, references the 1994 Budapest Memorandum, in which Russia, the UK, and US guaranteed Ukraine's security in exchange for its nuclear disarmament—guarantees that proved worthless after Russia's invasions.

Collections of two leading dealers, Barbara Gladstone and Daniella Luxembourg, hit the auction blocks in New York

Sotheby's will auction collections from two prominent dealers, Barbara Gladstone and Daniella Luxembourg, in New York on May 15. Gladstone's estate consigned 12 lots, including an Andy Warhol painting (est. $1m-$1.5m) and a Richard Prince work (est. $4m-$6m), following a competition between Christie's and Sotheby's. Luxembourg's collection of 15 post-war works, valued at over $30m, features pieces by Lucio Fontana, Salvatore Scarpitta, and Michelangelo Pistoletto, with Fontana's 'Fine di Dio' (1963) expected to lead at $12m-$18m.

National Assembly Unanimously Votes on Law for Restitution of Looted Colonial Works, but with Restrictions

L’Assemblée vote à l’unanimité la loi sur la restitution des œuvres pillées pendant la colonisation, mais avec des restrictions

The French National Assembly has unanimously passed a landmark law establishing a permanent legal framework for the restitution of cultural property looted during the colonial era. Moving away from the previous requirement for case-by-case legislation, the new law allows the government to return artifacts via decree following consultations with scientific and parliamentary commissions. This shift fulfills a long-standing promise to simplify the return of African heritage currently held in French public collections.

ukrainian pavilion venice biennale 2026 security guarantees 1234772911

The Ukrainian Pavilion at the 2026 Venice Biennale will present a project titled "Security Guarantees," focusing on the failure of international promises to protect Ukraine, specifically referencing the 1994 Budapest Memorandum. Artist Zhanna Kadyrova will exhibit her concrete sculpture, Origami Deer, which was evacuated from eastern Ukraine as the Russian frontline advanced. The work will be suspended from a crane on a truck along the lagoon, and the pavilion will include archival material and a video installation tracing the sculpture's journey.

PinchukArtCentre opens new exhibition at the Venice Biennale

The PinchukArtCentre has opened a new exhibition titled "Still Joy — From Ukraine Into the World" as part of the official parallel program of the 61st Venice Biennale. The show, which opened on May 7 at Palazzo Contarini Polignac and runs through August 1, features works by over 20 international and Ukrainian artists exploring joy as an act of resilience and humanity. Central to the exhibition are testimonies from Hlib Stryzhko, a marine veteran who returned from Russian captivity, which are transformed into sculptural elements. Notable works include a protest performance by Yurii Hruzinov at the Russian pavilion, a video installation of Kyiv rave parties by Malashchuk and Khimei, and installations by Future Generation Art Prize laureates Ashfika Rahman and Zhanna Kadyrova.