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The 10 Most Expensive Auction Works in 2025

The article reports on the ten most expensive auction lots of 2025, led by Gustav Klimt's 'Bildnis Elisabeth Lederer (Portrait of Elisabeth Lederer)' (1914), which sold for $236.36 million at Sotheby's, making it the second-most-expensive artwork ever sold at auction. The top end of the market rebounded after a quieter 2024, with the 100 most expensive lots totaling $2.13 billion, up from $1.8 billion the previous year. Nine of the top ten lots were sold during the marquee New York sales in November, where Sotheby's, Christie's, and Phillips together generated over $2 billion and set 16 artist auction records. The list includes multiple Klimt works from the collection of American philanthropist Leonard A. Lauder, as well as a Vincent van Gogh still life that sold for $62.71 million.

Inside the Joseph Cornell studio: Wes Anderson recreates an artist’s private world in Paris

Gagosian Paris has opened "The House on Utopia Parkway," an immersive exhibition reconstructing Joseph Cornell's basement studio in Queens, New York. Running from December 16, 2025, to March 14, 2026, the show is a collaboration between filmmaker Wes Anderson and curator Jasper Sharp, transforming the gallery into a life-size tableau filled with over 300 objects from Cornell's personal collection—maps, toys, feathers, shells, and paper fragments. It also features key works such as "Pharmacy" (1943), "Untitled (Pinturicchio Boy)" from the Medici series, "A Dressing Room for Gille" (1939), and "Blériot II" (c. 1956), marking Cornell's first solo presentation in Paris in over forty years.

Five forces that reshaped the art market in 2025

In 2025, the art market faced significant challenges, including gallery closures and unfavorable auction results in the first three quarters, driven by geopolitical pressures such as US President Donald Trump's tariffs. However, a rebound occurred in autumn, with buoyant fairs like Frieze London and Art Basel Paris, and strong November auctions in New York totaling over USD 2 billion, carrying momentum to Art Basel Miami Beach. Key events included Gustav Klimt's *Portrait of Elisabeth Lederer* selling for USD 236.4 million at Sotheby's, a record for a Modern work, and a Frida Kahlo self-portrait setting a new record for a work by a woman. Meanwhile, several galleries closed, including Blum, Venus Over Manhattan, Clearing, Kasmin Gallery, Tilton Gallery, and Perrotin and Pace's Hong Kong outposts, while others expanded, such as Thaddaeus Ropac in Milan and Hauser & Wirth in Sicily.

Collection of 61 Matisse works—mostly portraying his daughter Marguerite—donated to Paris museum

Barbara Dauphin Duthuit, the wife of Henri Matisse’s late grandson Claude Duthuit, has donated 61 works by Matisse to the Musée d'Art Moderne de Paris. The donation includes seven paintings, one sculpture, 28 drawings, and eight etchings, most of which depict Matisse’s eldest daughter Marguerite. Many of the works were featured earlier this year in the museum’s exhibition *Matisse and Marguerite: Through Her Father’s Eyes*. The pieces span the first half of the 20th century, from early childhood portraits to moving works created in 1945 after Marguerite survived deportation for her role in the French Resistance.

The art world pays tribute to Martin Parr, an ‘extraordinary photographer of people and life in the UK’

Martin Parr, the renowned British photographer known for his vivid, satirical documentation of British life and class, has died at age 73 at his home in Bristol, as announced by the Martin Parr Foundation on 7 November. Tributes have poured in from across the art and photography worlds, including from the Victoria and Albert Museum, the National Portrait Gallery, and fellow artists such as Grayson Perry and Joel Meyerowitz. Parr's major projects include *The Last Resort* (1983-85) and *The Cost of Living* (1987-89), and an exhibition of his work, *Global Warning*, is scheduled to open at Jeu de Paume in Paris in January 2026.

Gunmen stole works by Matisse and Portinari from Brazilian library in brazen daytime heist

On Sunday, December 7, two armed gunmen entered the Biblioteca Mário de Andrade (BMA) in São Paulo during public visiting hours and stole 13 artworks: eight engravings by Henri Matisse and five works by Candido Portinari. The theft occurred on the final day of the exhibition "Do livro ao museu" (From the Book to the Museum), organized in collaboration with the Museu de Arte Moderna de São Paulo (MAM-SP). The thieves subdued a security guard and an elderly couple, broke a glass display case, and escaped with the works in a canvas bag. Police have identified one suspect and seized the getaway vehicle; Interpol and other agencies have been alerted to prevent the works from being sold on the commercial market.

Lima’s historic city centre to be restored after years of earthquake damage and abandonment

The Metropolitan Municipality of Lima has launched an ambitious revitalization project called Lima 2035 to restore the city's historic center, a UNESCO World Heritage Site since 1991. Decades of neglect, earthquakes, and urban flight have left many buildings abandoned and damaged, particularly those made of adobe and quincha. The project, led by architect Luis Martín Bogdanovich Mendoza, involves over 500 professionals working since 2019 to rehabilitate the area, with completion timed for Lima's 500th birthday in 2035.

NADA Miami and Untitled Art Test the Temperature of the Mid-Tier and Emerging Markets

NADA Miami and Untitled Art opened on December 2, 2024, in Miami Beach, both targeting the mid-tier and emerging art markets. The fairs saw strong early sales and a predominantly American and local audience, with fewer European and Asian collectors than in previous years. Dealers reported a rebound in market confidence, with sales activity signaling a recovery in the mid-career and emerging segments, though not reaching the frenzy of earlier boom periods. The fairs also showcased a shift away from bright figuration and identity politics toward deeper reflections on reality, mediatization, and materiality.

Art Basel Miami Beach aims to ‘end the year on a high note’

Art Basel Miami Beach (ABMB) opens amid a still-sluggish global art market, with sales at live events yet to recover to pre-pandemic levels. Director Bridget Finn expresses optimism following strong sales at Art Basel Paris in October, noting that gallerists and collectors were energized. The fair introduces structural changes, including relocating the Nova and Positions sections to the east entrance to spotlight emerging galleries, and launching Zero 10, a platform for digital art. Seven local Miami galleries are participating, with Nina Johnson making her ABMB debut. Despite a few longtime exhibitors withdrawing, Finn attributes this to galleries being more selective across Art Basel's five global fairs, including a new Qatar edition in 2026.

France's Bonnat-Helleu museum reopens after 14-year renovation with new discoveries and 2,500 loans from the Louvre

The Musée Bonnat-Helleu in Bayonne, France, reopens on November 26 after a 14-year renovation and expansion. The project, led by French architecture firm BLP, doubled the display area to 3,000 square meters, restored the original building's glass roof and a mosaic by Giandomenico Facchina, and converted an adjacent school into a wing with a café, shop, research center, and study room. The museum now houses 7,000 works, including 2,500 long-term loans from the Louvre, and features discoveries such as autographs in El Greco paintings and pentimenti in Simon Vouet's work.

Frida Kahlo self-portrait sells for $54.7m at Sotheby's, breaking her auction record

Sotheby's held three back-to-back evening sales in New York on November 20, achieving a combined total of $252.9 million ($304.5 million with fees). The highlight was Frida Kahlo's self-portrait *El sueño (La cama)* (1940), which sold for $54.6 million with fees, setting a new auction record for the artist, for a Latin American artist, and for a female artist. The sales included 13 lots from the estate of Cindy and Jay Pritzker, a group of Surrealist works from an unnamed collection, and a multiple-owner Modern art sale featuring collections from the Bucksbaum family and Geri Brawerman.

Metropolitan Museum's new Condé M. Nast Galleries will put fashion at the forefront

The Metropolitan Museum of Art will open the Condé M. Nast Galleries, a nearly 12,000-square-foot space adjacent to the Grand Hall, next spring. The new galleries will become the permanent home for the annual Costume Institute exhibition, replacing the museum's largest retail space. The inaugural show, "Costume Art" (10 May 2026–10 January 2027), will pair paintings, sculptures, and other art objects with historical and contemporary garments, emphasizing the dressed body as a central theme across the museum's collections. The move follows the record-breaking success of 2018's "Heavenly Bodies: Fashion and the Catholic Imagination," which drew over 1.6 million visitors.

Inside the 19th-century Parisian club that became a safe haven for female artists

Art historian Jennifer Dasal's new book "The Club" tells the story of the American Girls' Club, a Parisian safe haven founded in 1893 by Elisabeth Mills Reid at 4 Rue de Chevreuse in Montparnasse. The club provided affordable housing and meals for aspiring female American artists who faced obstacles their male counterparts did not, including societal pressure toward marriage, financial constraints, and safety concerns. Notable residents and participants included painters Anne Goldthwaite, Florence Lundborg, and sculptors Meta Vaux Warrick Fuller and Alice Morgan Wright, whose works and lives are chronicled in Dasal's account.

K11 founder Adrian Cheng on Hong Kong’s art scene, the future of collecting and the creative potential of AI

Adrian Cheng, founder of the K11 property business and a prominent figure in Hong Kong's art scene, discusses his two-decade role in shaping the city's cultural landscape. He founded K11 in 2008 to integrate museum-quality art with retail, developed the Victoria Dockside district and K11 MUSEA, and established the K11 Art Foundation and K11 Craft & Guild Foundation. Cheng has launched new ventures including K11 by AC and the ALMAD Group, and his foundations have partnered with major institutions like the Palais de Tokyo, the Metropolitan Museum of Art, and the Serpentine Galleries. He also initiated a regular salon series focused on art and technology, held during events like Frieze Seoul and Asia Now.

Dublin’s Monumental Picasso Exhibition Showcases 60 of the Artist’s Masterpieces

The National Gallery of Ireland, in partnership with the Musée national Picasso-Paris, has opened a major exhibition titled "Picasso: From the Studio," featuring 60 works by Pablo Picasso. The show spans five decades of the artist's career, including Cubist portraits, sculptures, still lifes, and rarely seen pieces, with immersive photographic and audio-visual elements that evoke his creative environments in Avignon and the Côte d'Azur. The exhibition runs until February 22, 2026.

World Economic Forum and J. Paul Getty Trust bring art world leaders together to find ‘Connection in Times of Division’

The World Economic Forum and the J. Paul Getty Trust co-hosted a "cultural table" dinner for art world leaders on 23 October at the Hotel Le Meurice in Paris, themed "Bridging Worlds: Culture as a Force for Connection in Times of Division." The event, held in the Pompadour Room—where Pablo Picasso celebrated his 1918 wedding—was co-hosted by Getty president Katherine Fleming and WEF arts head Joseph Fowler, and marked the first collaboration between the two organizations. Fowler described the initiative as a global movement to place culture at the heart of systemic change, while Fleming emphasized art's unifying power and its measurable health benefits.

Star drawing from world’s largest private Rembrandt collection could bring $15m at auction

Billionaire entrepreneur Thomas S. Kaplan and his wife Daphne Recanati Kaplan are selling Rembrandt's drawing *Young Lion Resting* (circa 1638-42) from their Leiden Collection, one of the world's largest private holdings of 17th-century Dutch art. Sotheby's announced on November 3 that the work will be auctioned during its Old Masters sales in New York on February 4, 2026, with a pre-sale estimate of $15 million to $20 million. Proceeds from the sale will benefit Panthera, a wild-cat conservation organization co-founded by Kaplan and philanthropist Jonathan Ayers, marking the 20th anniversary of the organization's founding.

German artist Anselm Kiefer featured in new Saint Louis Art Museum exhibit

The Saint Louis Art Museum (SLAM) unveiled German artist Anselm Kiefer's exhibition "Becoming the Sea" on October 18, 2025, after 2.5 years of development. Spanning nearly 30,000 square feet, the show features enormous paintings shipped from Kiefer's Paris suburb studio, some cut into sections to fit shipping constraints. The exhibition includes works influenced by Kiefer's wife's hospitalization, his studies as a constitutional lawyer, and themes of anti-nationalism and philosophy. Kiefer requested no stanchions in front of artworks and that window shades remain up to encourage visitor immersion and connection with the outdoors.

Performa brings digital doubles, kids reciting animal noises and more to New York

Performa, New York's performance art biennial, returns for its 20th anniversary edition with a main slate of eight commissions, seven by women artists and one by a male-female duo. Projects include Ayoung Kim's live motion capture choreography exploring body doubles and digital avatars at Canyon, Diane Severin Nguyen's remix of Vietnam War-era protest songs with an 11-person supergroup at Bric, and Tau Lewis's staging of the Sumerian epic 'The Descent of Inanna' using textile sculptures and experimental opera at Harlem Parish. The biennial also features a Lithuanian Pavilion with Augustas Serapinas's mobile wooden shack and Lina Lapelytė's piece 'The Speech,' in which 270 children perform animal vocalizations at Federal Hall.

Show at the Barnes Foundation charts Henri Rousseau's rise from mockery to acclaim

The Barnes Foundation in Philadelphia is opening "Henri Rousseau: A Painter's Secrets" (October 19–February 22), reuniting for the first time in over a century the two largest collections of Rousseau's work—18 paintings from the Barnes Foundation and 11 from the Musée de l'Orangerie in Paris. The exhibition, co-curated by Nancy Ireson and Christopher Green, uses new conservation research to challenge the long-held myth of Rousseau as a naive, unworldly amateur, revealing instead a strategic artist who revised compositions, reused canvases, and actively sought an audience through Paris's open salons.

Comment | Frieze galleries have committed to climate donations—now it's time for the art world to pack in its private jets

A new initiative called 10% Of launches at Frieze London and Frieze Masters, inviting galleries to donate 10% of the sale price of designated works to the Gallery Climate Coalition (GCC), an international art world environmental charity. Nearly thirty galleries have signed up, including Gagosian, White Cube, David Zwirner, and Lisson, with works priced from £3,000 to £150,000. The scheme aims to reframe a standard art market gesture into collective climate action, with participating galleries displaying their GCC membership status on booth signs.

Oberlin art museum kicks off fall with a fine Monet show and a new director

The Allen Memorial Art Museum at Oberlin College has opened "Picturing Paris: Monet and the Modern City," a focused exhibition reuniting three Claude Monet paintings from spring 1867, including the museum's own "The Garden of the Princess" alongside two loans from European museums. The show features over 30 additional works from the Allen's collection by artists such as Renoir, Degas, and Cézanne, and coincides with the arrival of new director Jon Seydl, who returned to Northeast Ohio in July after leadership roles at the Cleveland Museum of Art, Worcester Art Museum, and Krannert Art Museum.

$45 million Basquiat painting heads to auction for the first time.

Sotheby's will auction Jean-Michel Basquiat's painting *Crowns (Peso Neto)* (1981) in its contemporary evening sale in New York this November, with an estimate of $35–$45 million—the highest ever for a Basquiat work from 1981. The painting, making its auction debut, was featured in Basquiat's breakthrough solo show at Annina Nosei Gallery in 1982 and later exhibited at documenta 7 in 1983 and the artist's retrospective at Fondation Louis Vuitton in 2018. It will tour London and Paris before being presented at Sotheby's new New York headquarters in the historic Breuer building.

The rooms where the magic happened: National Gallery of Ireland exhibition explores Picasso’s studios

The National Gallery of Ireland is opening an exhibition titled "Picasso: From the Studio" that shifts focus from the artist's famous subjects—such as weeping women and bullfighting—to the physical spaces where he created his work. Curated by Janet McLean and Joanne Snrech, the show draws heavily from the Musée Picasso in Paris and includes over 100 works, ranging from early pieces made from scraps to late paintings like *Musician* (1972). The exhibition recreates the atmosphere of key studios through paintings, film, and photographs, including iconic images by Dora Maar of Picasso painting *Guernica* (1937). The gallery owns only one Picasso painting, *Still Life with a Mandolin* (1924), which is included.

Gustave Caillebotte: Painting His World

The Art Institute of Chicago presents 'Gustave Caillebotte: Painting His World,' a major exhibition running from June 29 to October 5, 2025, featuring over 120 works including paintings, works on paper, photographs, and ephemera. The show explores the personal interests and relationships that shaped the Impressionist artist, highlighting his focus on family, friends, sportsmen, and workers, as well as his unique depictions of nude men. It includes iconic pieces like 'Paris Street; Rainy Day' and 'Floor Scrapers,' alongside lesser-known works such as the Musée d'Orsay's recent acquisition 'Boating Party' and the Louvre Abu Dhabi's 'The Bezique Game,' many from private collections rarely seen by American audiences.

The OG of Art Revolutions Comes to Santa Barbara Museum of Art

The Santa Barbara Museum of Art (SBMA) will host "The Impressionist Revolution: Monet to Matisse from the Dallas Museum of Art" from October 5, 2025, to January 25, 2026. The exhibition, which marks the 150th anniversary of the first Impressionist exhibition in 1874, features masterworks by Claude Monet, Vincent van Gogh, Henri Matisse, Paul Gauguin, Piet Mondrian, Berthe Morisot, and Edvard Munch, drawn from the Dallas Museum of Art's renowned French Impressionist collection. It traveled to Mexico City before arriving in Santa Barbara, the only West Coast U.S. venue for the show, and will later travel to Nashville, Québec, and Richmond.

Georges de La Tour, once a victim of the academy’s collective amnesia, can be seen in a new light in Paris

The Musée Jacquemart-André in Paris opens a new exhibition, "Georges de La Tour: From Shadow to Light," running from 11 September 2025 to 25 January 2026. This is the first Paris show dedicated to the 17th-century French painter in nearly 30 years, featuring about 20 original works and a dozen studio pieces. The exhibition explores La Tour's working practice and his influence from Caravaggio, highlighting how his oeuvre—now counted at only 48 known works—was rediscovered after centuries of misattribution, thanks largely to German art historian Hermann Voss in 1915.

Daegu Photo Biennale tackles the Anthropocene

The Daegu Photo Biennale in South Korea, now in its 10th edition, tackles the Anthropocene through the lens of symbiosis, featuring three main exhibitions: 'The Pulse of Life', 'The Origin of the World', and a solo show by Rinko Kawauchi titled 'M/E On this Sphere Endlessly Interlinking'. Artistic director Emmanuelle de l’Ecotais, a former curator at Centre Pompidou and Musée d’Art Moderne de Paris, leads the biennale, which includes 80 artists in the main exhibition and 75 in the special exhibition, alongside emerging artist showcases, a symposium, a photobook exhibition, and a portfolio review, all spread across 4,000 square meters at the Daegu Culture and Arts Center.

Fra Angelico masterworks reunited for two-venue Florence exhibition

Florence is opening a comprehensive double-venue exhibition of over 140 works by Fra Angelico, the early Renaissance master. The show, titled simply "Fra Angelico," runs at the Museo di San Marco and the Palazzo Strozzi, reuniting dispersed altarpieces and panels for the first time in over two centuries. It traces his evolution from late Gothic to early Renaissance, featuring reconstructed altarpieces with panels gathered from major European and American museums, alongside works by his influences like Masaccio, Lorenzo Ghiberti, and Lorenzo Monaco.

Picasso painting not seen in 80 years heads to auction in France

A Picasso painting unseen for over 80 years, *Buste de femme au chapeau à fleurs (Dora Maar)* (1943), will be auctioned at the Drouot salesroom in Paris on 24 October by Lucien Paris auction house. The work, depicting the artist's lover and muse Dora Maar, has been held in a private French collection since 1944 and carries an estimate of €8 million. The auction catalogue includes an authentication certificate from the Comité Picasso and notes the painting was documented in *Cahiers d’art* and photographed by Brassaï.