The article examines the art market's struggle to attract new wealthy buyers despite a surge in global wealth. Marc Spiegler, former global director of Art Basel, argues that galleries have failed to recruit the newly wealthy, noting that inflation-adjusted art sales have declined over the past 15 years. He suggests the industry needs to reposition art as 'magical' and transformative to appeal to potential patrons.
The National Portrait Gallery in London has acquired the only surviving photographs of 19th-century mathematician Ada Lovelace, a group of three daguerreotypes that were originally offered at Bonhams in June 2025 with an estimate of £80,000 to £120,000. The lot was withdrawn from auction and the museum secured it via a private treaty sale, a confidential negotiation process that allows institutions to purchase significant artworks directly from private owners. Two of the daguerreotypes were taken by French photographer Antoine Claudet around 1843, the year Lovelace published her foundational paper on Charles Babbage's Analytical Engine, while the third, by an unknown photographer, reproduces an 1852 portrait by Henry Wyndham Phillips showing Lovelace near the end of her life.
2025 has been a landmark year for dinosaur fossils in the art world, marked by high-profile sales, seizures, and ethical controversies. In November, a pair of Allosaurus fossils and a Stegosaurus skeleton worth £12 million ($15.6 million) were seized by the UK's National Crime Agency from Binghai Su, a Chinese national linked to a major money-laundering case in Singapore. The fossils had been purchased at Christie's Jurassic Icons auction in 2024. Meanwhile, Sotheby's sold a juvenile Ceratosaurus fossil for $30.5 million in July, far exceeding its $6 million estimate, and Phillips entered the dinosaur market for the first time, selling a juvenile Triceratops skeleton for $5.4 million in November. The most expensive dinosaur fossil ever, a Stegosaurus named Apex bought by hedge fund titan Kenneth Griffin for $44.6 million in 2024, was loaned to the American Museum of Natural History.
Christie’s is launching its largest-ever Americana Week in January, featuring a George Washington portrait by Gilbert Stuart that inspired the dollar bill. The painting, commissioned by James Madison, is expected to fetch between $500,000 and $1 million. The auction includes 700 lots across nine sales, with highlights such as a signed Emancipation Proclamation and the contract that created Apple. The portrait, a Vaughn-type from 1795, was consigned by Clarkson University and has a provenance tracing back to Madison, confirmed by a 19th-century catalog and a note from Madison’s secretary.
Christie’s will auction an 1804 oil portrait of George Washington by Gilbert Stuart, estimated at $500,000 to $1 million, during its “We the People: America at 250” sale in early 2025. The painting was commissioned by President James Madison and served as a model for the engraving on the one-dollar bill. It was recently deaccessioned by Clarkson University, a technical school in upstate New York, which decided to sell the work to coincide with the 250th anniversary of the United States, with proceeds supporting the university’s educational mission.
This episode of the podcast series "How to Get Ahead in the Art World" features Loïc Gouzer, the former Christie's executive known for orchestrating the record-breaking $450 million sale of Salvator Mundi. Gouzer discusses his career risks, including pioneering the curated sale format and launching Fair Warning, a private auction app that has achieved new price records. He emphasizes trusting instinct over data in the art market and offers advice on spotting opportunities, mastering skills before breaking rules, and building an authentic personal brand.
Pieter Brueghel the Younger's painting *The Census at Bethlehem* sold for £5.2 million ($6.9 million) at Sotheby’s Old Master and 19th Century Paintings evening auction in London on December 3, exceeding its £3 million low estimate. The unsigned, undated oil-on-panel work, kept in the same collection for nearly 40 years, was the third-highest seller of the night. The auction overall achieved £30.7 million ($40.5 million), led by Rembrandt's *Saint John on Patmos* at £6.8 million, and Sotheby’s reported a nearly 50% increase in its Old Masters division sales this year.
First Presbyterian Church in Topeka, Kansas, is selling one of its ten Tiffany stained-glass windows at Sotheby's Design sale on December 10. The Jonathan Thomas Memorial Window, a rare medallion window designed by Louis Comfort Tiffany himself in 1910, carries an estimate of $1.5 million to $2 million. The church cites the high cost of maintaining its historic building and the Tiffany windows—sending just one window for repair cost over $50,000—as the reason for the sale. The auction also features a magnolia floor lamp designed by Agnes Northrup, estimated at $2 million to $3 million.
Artist Jack Butcher (b. 1988) debuted his first-ever booth at Art Basel Miami Beach, titled *Self Checkout*, where he sells art—literally receipts—on a pay-what-you-wish model. Each receipt includes a seed phrase creating a custodial Ethereum wallet holding a digital copy, but the NFT cannot be sold; it merely proves ownership of the physical receipt. The project features a real-time tracker showing his progress toward recouping the $74,211 total cost of the booth, with purchases made at self-checkout kiosks or online in Ethereum. By the fair's second day, the amount needed had dropped to $33,103.56, and Butcher was optimistic about breaking even. If the countdown hits zero, he will auction the flip board and receipt case as a one-of-one sculpture.
The article reports strong sales across Miami art fairs, particularly at Art Basel Miami Beach, where Beeple's "Regular Animals"—robotic dogs with hyper-realistic heads of billionaires—were a major attraction in the new digital art section Zero10. It also notes that three art-world heavyweights are launching a new gallery focused on secondary market sales, and that the Art Dealers Association of America is launching a new art fair after canceling its long-running Art Show.
The Art Dealers Association of America (ADAA) has announced a new art fair, the ADAA Fair, set to take place at the Park Avenue Armory from November 12–16, 2026. This follows the cancellation of the 2025 edition of its long-running Art Show, prompted by the end of a partnership with the charity Henry Street Settlement, which had hosted the fair's VIP opening as a fundraiser. The ADAA plans to refocus on supporting visual arts and museums, with the ADAA Foundation continuing to provide grants to U.S. institutions.
A five-inch-tall red chalk drawing of a foot, attributed to Michelangelo (1475–1564), is set to be auctioned at Christie’s New York in February with an estimate of $1.5–2 million. The work was discovered when Giada Damen, a specialist in Old Master drawings at Christie’s, flagged it from a public online submission; after extensive provenance research, technical analysis, and comparison with known sketches, Christie’s has declared it a preparatory study for the Sistine Chapel ceiling (1508–1512). If authenticated, it would be one of only two such Michelangelo drawings remaining in private hands.
Sotheby's Hong Kong sold 125 works from Japan's Okada Museum of Art in a white-glove auction on Saturday, netting $88 million (plus fees). The sale set auction records for Japanese artists Kitagawa Utamaro and Hokusai, with Utamaro's *Fukagawa in Snow* fetching $7.1 million and Hokusai's *The Great Wave Off the Coast of Kanagawa* selling for $2.8 million. The collection was sold by museum founder Kazuo Okada, an 83-year-old billionaire, to settle a $50 million legal bill stemming from a long-running feud with casino magnate Steve Wynn. Okada's law firm, Bartlit Beck, successfully pursued the fee in binding arbitration after Okada contested the amount.
Gustav Klimt's *Portrait of Elisabeth Lederer* (1914-16) sold for $236.4 million at Sotheby's on November 18, becoming the second-most expensive painting ever sold at auction and the most expensive work ever sold by the house. The sale was part of New York's marquee November auctions, which generated over $2 billion in a single week—more than 50 percent above last year's total—driven by high-profile estates including that of cosmetics heir Leonard A. Lauder. Other notable sales included Mark Rothko's *No. 31 (Yellow Stripe)* for $62.2 million at Christie's, Marc Chagall's *Le songe du Roi David* for $26.5 million, and Frida Kahlo's *El sueño (La cama)* for $55 million, setting a new record for the artist and the highest sum for a work by a female artist at auction. Phillips also sold a juvenile Triceratops skeleton named CERA for $5.4 million.
The autumn edition of Asia Week New York is underway, with auction houses reporting strong interest in Asian art despite broader economic challenges. Bonhams kicked off the week with sales totaling $7.3 million, including Chinese ceramics and snuff bottles, though it offered 47% fewer lots than last year. Top results included a blue-and-white jar selling for $1.75 million and a pair of famille rose dishes for $1.5 million. Christie’s sold a Vasudeo S. Gaitonde painting for $2.35 million and a Tyeb Mehta work for nearly $2 million. New US tariffs under the Trump administration have added uncertainty, particularly for cross-border consignments and purchases.
Christie’s will auction a Pascaline, the first calculating machine in history, developed by Blaise Pascal in 1642, at a sale in Paris on November 19. The estimate for the box decorated with ebony sticks is €2 million to €3 million. This particular model, dedicated to survey calculations, is the only one in private hands among nine surviving originals, and it remains fully functional. The auction also includes 15 volumes of Pascal’s writings, including a first copy of *Pensées* (estimate €200,000–€300,000), and works by Descartes, Newton, and others.
Carl Kahler's 1891 painting *My Wife's Lovers*, a monumental portrait of 42 cats commissioned by San Francisco millionaire Kate Birdsall Johnson, has resurfaced in popularity thanks to social media and a record-breaking sale at Sotheby's in 2016, where it fetched $826,000—more than double its high estimate. The article details Kahler's background as a horse-racing painter from Austria, his three-year stay at Johnson's Buena Vista Castle sketching her feline menagerie, and the painting's debut at the 1893 Chicago World's Fair. Johnson, an eccentric art collector and philanthropist, owned hundreds of cats and named the work after her late husband's nickname for them.
A rediscovered Baroque painting by 17th-century Neapolitan artist Diana de Rosa, titled *Salome with the Head of Saint John the Baptist*, sold for £317,500 ($436,086) at Sotheby’s Old Masters and 19th Century Paintings sale in London on July 2, more than quadrupling its high estimate. The work, previously unknown to scholars, set a new auction record for the artist and was described by Sotheby’s specialist Elisabeth Lobkowicz as a powerful image comparable to Caravaggio’s treatment of the same subject.
The Cleveland Museum of Art has acquired Giambologna's marble sculpture *Fata Morgana* (ca. 1572), believed to be the last marble work by the Flanders-born Italian Mannerist in private hands. The piece, which depicts a nude woman emerging from a grotto, was originally commissioned by banker Bernardo Vecchietti and remained with his family for 200 years before being sold in 1775. It was misattributed for centuries until London dealer Patricia Wengraf correctly identified it at a 1989 Christie's auction, purchasing it for £715,000. The museum acquired the sculpture for an undisclosed price, making it only the second Giambologna marble in the U.S. and one of just three outside Italy.
Artnet News's "Work of the Week" highlights Emily Kam Kngwarray's painting *Desert Storm* (1992), currently on view at Pace London as part of the exhibition "My Country." Painted midway through her career, the work marks a stylistic shift from intricate dotting to broader strokes and expansive color fields. The piece is priced between $1 million and $1.5 million, aligning with the artist's auction record of $1.3 million (AUD $2.1 million) for *Earth's Creation I* (1994), sold at Cooee Art Gallery in 2017. The exhibition is organized with D'Lan Contemporary, which has branches in New York, Melbourne, and Sydney, and 10 percent of proceeds will support the Utopia community, in addition to the Artist Resale Right returned to Kngwarray's estate.
The FBI has recovered two paintings stolen 40 years ago from the University of New Mexico's Harwood Museum of Art in Taos. Victor Higgins's oil painting *Aspens* (c. 1932) and Joseph Henry Sharp's portrait *Oklahoma Cheyenne aka Indian Boy in Full Dress* (c. 1915) were taken in March 1985, when the building housed a public library with a museum on the second floor. The recovery was triggered by a late 2023 tip from investigative reporter Lou Schachter to museum executive director Juniper Leherissey, who then led an Art Recovery Task Force. The paintings had been sold in 2018 by the Scottsdale Auction House under altered titles, and were located, recovered, and returned to the museum on May 12, 2025, with a public unveiling on June 6.
Sotheby’s London will auction what is believed to be the only known self-portrait by Clara Peeters, a pioneering Flemish still life painter from the early 17th century. The painting, a vanitas still life featuring a presumed self-portrait and a still life of flowers in a glass vase, carries a presale estimate of £1.2 million to £1.8 million ($1.6 million–$2.4 million) and will be offered in the “Old Master and 19th Century Paintings Evening Auction” on July 2. The work was previously downgraded to the artist’s circle but is now accepted as an autograph Peeters, with a provenance dating back to 1767.
A new analysis by The Asia Pivot reveals that total global auction sales for Asian artists born between 1990 and 1999 dropped to $9.7 million in 2024, the lowest level in three years. The market for these young artists shows clear signs of cooling, with 696 lots sold out of 1,128 offered, a 62% sell-through rate, and an average price per lot falling 26.5% year-over-year to $13,905. Top-ranked artists like Raghav Babbar and Anna Park saw steep price declines, while a few consistent performers like Yukimasa Ida, Sun Yitian, and Chris Huen Sin-Kan maintained strong market recognition.
Fair Warning, the members-only online sales platform founded by former Christie's rainmaker Loïc Gouzer, is staging a rare live auction on May 20 at Tiffany & Co.'s flagship store in New York. The centerpiece is Banksy's *Girl and Balloon on Found Landscape* (2012), a work from the artist's 'Crude Oils' series that has never been publicly exhibited. Consigned by a private collector, the painting carries an ambitious estimate of $13 million–$18 million, one of the highest ever for a Banksy. Gouzer argues that Banksy is among the most consequential artists of our time, comparing his trajectory to Jean-Michel Basquiat, and sees this sale as a landmark moment for the artist's market.
A new feature-length documentary titled "The Hammer" will premiere at this spring's Cannes Film Market, chronicling the five-decade career of Swiss auctioneer and art advisor Simon de Pury. Produced by Simon Wallon, who previously made a documentary on casting director Bonnie Timmermann, the film features cameos from artists Marina Abramović, Jeff Koons, Ai Weiwei, and Chloe Wise, and includes executive producer Catherine Quantschnigg. Filming took place in New York, Tokyo, London, Cannes, Miami, and Monaco between July 2023 and February 2025.
Sotheby’s Paris achieved a landmark result for its modern and contemporary art sale, totaling €35 million ($41 million) and surpassing its high estimate. The auction was headlined by two Claude Monet paintings that had been hidden from public view for roughly a century, including 'Vétheuil, effet du matin' (1901), which sold for €10.2 million ($12.1 million), setting a record for the artist at auction in France.
The United States solidified its position as the world's leading art market in 2025, with fine-art auction sales rising 25.3 percent to reach $5.4 billion. Despite early volatility caused by trade tariffs, a surging stock market and cooling inflation fueled a massive November auction season in New York, where nine of the year's ten most expensive artworks were sold. In contrast, China's market contracted by nearly 11 percent due to a persistent property crisis, while the United Kingdom and France saw significant growth, with Paris benefiting from the momentum of Art Basel Paris.
The prints and multiples market is experiencing a significant transformation, driven by an influx of new collectors and a shift in taste toward historically significant works. Artnet Auctions data shows that 50% of prints and multiples lots sold between 2020 and 2025 went to first-time buyers on their platform. This surge in demand is coinciding with major events like the IFPDA Print Fair and Artnet's own Premier Prints and Multiples sale, which features works from modern masters like Frank Stella and Jeff Koons.
The article presents a data-driven analysis of the top-performing artists at auction in 2025, highlighting specific works and their record-breaking sales. J.M.W. Turner re-entered the top ranks with a $11.9 million sale, while Jean-Michel Basquiat dominated the contemporary category with a $48.3 million result for his painting 'Crowns (Peso Neto)'. Other notable sales included works by René Magritte, David Hockney, and the ultra-contemporary artist Matthew Wong.
Christie’s New York is set to headline its May marquee sales with a prestigious consignment from the collection of the late media magnate S.I. Newhouse. The offering features approximately 40 masterworks valued at an estimated $450 million, including Jackson Pollock’s drip painting "Number 7" (1948) and Constantin Brancusi’s bronze sculpture "Danaïde" (1913). Both works carry estimates of approximately $100 million, figures that would shatter the existing auction records for both artists if realized.