How much should art cost? The pitfalls and paradoxes of pricing works

The article examines the current state of the art market, which is in its third consecutive year of contraction. It traces how low interest rates fueled speculative price inflation, leading to a boom in ultra-contemporary art that has now burst, with collectors shifting toward Old Masters. Dealers like Larry Gagosian are now advocating for lowering primary market prices, while private sales stall due to sellers' 'anchoring' to peak valuations. The piece highlights the disconnect between high prices and long-term value, using examples such as auction records being manipulated (e.g., Patrick Drahi's anonymous bidding on a Francis Bacon triptych) and the reality that most artworks in even celebrated collections depreciate.

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.

How Banksy’s Stenciled Satire Took the Aughts by Storm

Four screenprints by Banksy from the 2000s are featured in Artnet Auctions’s Contemporary Editions sale, running through August 28, 2025. The lots include 'Bomb Love (Bomb Hugger)' (est. $25,000–$35,000), 'Welcome to Hell (Pink)' (est. $30,000–$50,000), and 'Morons (Sepia)' (est. $25,000–$35,000), tracing the artist’s rise from Bristol street graffiti to international fame. The article highlights key milestones: his 2002 Los Angeles show 'Existencilism,' his counterfeit £10 notes featuring Princess Diana, and the Oscar-nominated documentary 'Exit Through the Gift Shop.'

Climate protestors install Anish Kapoor work on North Sea gas platform

Climate activists from Greenpeace installed a new artwork by Anish Kapoor on a Shell gas platform in the North Sea. Titled "BUTCHERED," the 12m by 8m canvas was attached to the platform and drenched with a blood-red liquid made from seawater, beetroot powder, and non-toxic pond dye to symbolize the environmental destruction caused by fossil fuel companies. The protest coincided with record-breaking heatwaves in Europe. Kapoor described the work as a tribute to activists and a "visual scream" against the climate crisis, while Shell condemned the action as dangerous and illegal trespassing.

A View From the Easel

A View From the Easel

Artist Lusmerlin, who works between studios in Maryland and Philadelphia, describes a creative process that begins with physical and mental alignment through activities like stretching and singing before painting. Their flexible studio spaces, which open onto a garden, directly influence ambitious projects, including a 28-foot painting titled "The Big Rip" that investigates the theoretical collapse of the universe.

Barbara Chase-Riboud Speaks Out on Declining US Biennale Pavilion

Sculptor and author Barbara Chase-Riboud has publicly declined an invitation to represent the United States at the 2026 Venice Biennale, stating it was "not the moment" for her to do so. She was among the artists initially considered by the newly formed American Arts Conservancy (AAC), which is organizing the US pavilion after both she and photographer William Eggleston turned down the opportunity.

‘Reality Decay’ Is at the Root of All the Bad News

The article connects a 2009 artwork by Paul Chan, 'Sade for Sade’s Sake,' to the recent release of the Jeffrey Epstein emails. The artwork, a shadow puppet projection based on the Marquis de Sade's violent text, was referenced in a 2010 email from an art adviser to Epstein, suggesting artists who could realize his desires for his private island. This link places a contemporary artwork directly into the evidence of a high-profile criminal conspiracy.

As Iraq's economy shows signs of recovery, a thirst for new art is emerging

Iraq's improving economy and security situation, despite regional conflict, is fueling a revival in its art scene. Artists who fled violence are returning, and curators from the Arab region are touring the country. Key initiatives include Tarkib, a Baghdad art platform co-founded by Hella Mewis that offers workshops and exhibitions, and Babil Performance Art, set up by Zurich-based artist Wathiq Al Ameri to focus on performance work. These efforts reflect a generational shift spurred by the 2019 Tishreen protests, particularly among young women.

Collecting in Madrid: 50 Ways to Build the Contemporary

COLECCIONAR EN MADRID: 50 FORMAS DE CONSTRUIR LO CONTEMPORÁNEO

The exhibition 'Madrid Colecciona. 50 colecciones de arte contemporáneo' opened at CentroCentro, showcasing a hundred works from fifty private collections in Madrid. It shifts focus from the artwork and artist to the often-opaque figure of the collector, allowing each collector to present two pieces: one of personal significance and one recent acquisition, accompanied by their own explanatory texts.

art maggi hambling sarah lucas show interview

British artists Maggi Hambling and Sarah Lucas, who met at the Colony Room Club in London on their shared birthday 25 years ago, are the subjects of a dual exhibition titled "OOO LA LA" opening Nov. 19 across two London galleries: Sadie Coles HQ and Frankie Rossi Art Projects. The show celebrates their personal and professional bond, coinciding with a Rizzoli monograph on Hambling and a major museum survey of Lucas at the Museum of Contemporary Art Kiasma in Helsinki. In an interview, the duo discusses their friendship, mutual portraits, and creative processes, emphasizing spontaneity, experimentation, and the interplay of darkness and vitality in their work.

How Much Change Can Society Endure?

Wie viel Veränderung hält die Gesellschaft aus?

Artist Julius von Bismarck and SPD politician Rita Schwarzelühr-Sutter engaged in a deep dialogue about the societal transition from a fossil-fuel-based to a post-fossil society. During a live podcast hosted by Monopol editor-in-chief Elke Buhr at the BMW Foundation in Berlin, von Bismarck challenged traditional notions of environmental protection, arguing that the very concept of "nature" should be abolished to foster a new relationship with the world. The discussion bridged the gap between artistic radicalism and political pragmatism, touching on existential threats, global inequality, and the role of technology like AI.

Protests in Mexico Against the Transfer of a Rare Collection to Spain

Protestations au Mexique contre le transfert en Espagne d’une rare collection

A coalition of nearly 400 art professionals in Mexico is protesting the planned transfer of the prestigious Gelman Collection to Spain. The collection, which includes iconic works by Frida Kahlo and Diego Rivera, is slated to move to the Faro Santander museum in northern Spain under a five-year management agreement with Banco Santander. Critics describe the move as a "public disaster," citing the opaque 2023 sale of the collection to the Zambrano family and the potential violation of Natasha Gelman’s original will, which stipulated the works remain in Mexico.

christies koch western art american art market 1234770916

Christie’s two-part auction of William I. Koch’s Western art collection realized $84.1 million with fees, more than tripling the previous record for a single-owner Western art collection and setting five new artist records. The sale, reported by the Observer and covered by ARTnews, stands out in a category that has struggled since the 2008 financial crisis, as collectors have shifted focus to postwar, contemporary, and ultra-contemporary work. Specialists attribute the success to structural changes in how American art is presented, growing cultural interest in the American West fueled by popular culture like Yellowstone, and the rare concentration of masterworks in the Koch collection.

venice biennale russia pavilion eu funding 2752812

The European Union has threatened to withdraw a €2 million grant from the Venice Biennale following Russia's decision to return to the international exhibition for its 61st edition. The EU Commission warned that providing a platform for a Russian national pavilion risks legitimizing figures connected to the Kremlin and violating sanctions, while Biennale organizers have defended the move as a commitment to artistic freedom and a rejection of censorship.

These artists want your help distracting fossil fuel executives

The Brooklyn non-profit space Pioneer Works is hosting an exhibition titled "How to Get to Zero" by artists Tega Brain and Sam Lavigne, featuring climate-focused interactive installations. The centerpiece, "Cold Call" (2023), invites visitors to don headsets and call fossil fuel executives, following a script designed to keep them on the line as long as possible to disrupt their productivity. Another work, "Offset" (2023-25), parodies carbon offset markets by allowing visitors to purchase credits for dissident acts like deflating SUV tires, with proceeds going to activists. The exhibition also includes "Perfect Sleep" (2021), an anti-productivity phone app that encourages rest to reduce carbon footprints, and "Synthetic Messenger" (2021), where cell phones click on climate news ads to boost journalism engagement.

Denja Harris Plays With Yarn in New Exhibit at OMA

Fiber artist Denja Harris opens her solo exhibition "The Space Between: Texture Studies" at the Oceanside Museum of Art (OMA) on June 28. The show features large-scale tufted works that Harris describes as "painting with yarn," alongside three-dimensional soft sculptures stuffed with scrap materials. Harris, who began repurposing fabrics as a middle schooler and later taught herself tufting during the pandemic, uses primarily deadstock and vintage yarn to create layered, colorful pieces that blend high-pile textures with smooth organic shapes.

Bill Koch’s collection could fetch $50m at Christie’s as interest in American Western art grows

Christie’s has announced the consignment of billionaire Bill Koch’s American Western art collection, estimated to fetch at least $50 million across two sales on January 20 and 21. The collection, described as the most valuable tranche of the genre ever to appear at auction, features works by Frederic Remington—including his painting *Coming to the Call* (estimated $6–8 million)—and Charles Marion Russell, among others. The sale aims to spotlight a niche but growing sector of the art market.

Chihuly glass art exhibition fuels SA economy with record visitor turnout

The "Chihuly in the Botanic Garden" exhibition at Adelaide Botanic Garden concluded after seven months, drawing 1.4 million visitors and generating $55.7 million in economic benefits for South Australia. The show featured Seattle-based artist Dale Chihuly's glass sculptures, including ticketed experiences like "In Full Colour: Dale Chihuly" and "Chihuly Nights," which attracted over 200,000 attendees. Key artworks, including the Glacier Ice and Lapis Chandelier and the Jet and Crimson Fiori, will remain as permanent fixtures thanks to donations from local philanthropists.

art perrotin gabriel de la mora interview

Artist Gabriel de la Mora, now 57, reflects on how his childhood dyslexia and autism shaped his artistic practice in an interview tied to his latest exhibition "Repeated Original" at Perrotin in New York, on view through April 11. The show features meticulous geometric works made from fragmented eggshells and curved reflective glass, with each piece titled after the exact number of fragments used. De la Mora sources eggshells from Mexico City restaurants and churches that serve free meals, and he recently closed a major career survey at Museo Jumex, where he led 79 guided tours over six months, including for deaf children.

youtubes first video acquired by londons va 2746518

London's Victoria and Albert Museum (V&A) has acquired a reconstructed version of YouTube's 2006 interface, including its first-ever uploaded video, 'Me at the zoo.' The interactive display, built using archived code and Adobe Flash, is now on view in the museum's 'Design 1900-Now' gallery, representing a significant effort to preserve the look and feel of early internet culture.

A Navy Veteran Finds His Niche in the Art World

Walter Price, a U.S. Navy veteran, has successfully transitioned to a career as a painter in New York, achieving his artistic dream. His journey from military service to the art world highlights a significant personal and creative transformation.

Commentary: This year's Met Gala proved one thing: The real devil who wears Prada is Jeff Bezos

Jeff Bezos and his wife Lauren Sánchez Bezos served as honorary co-chairs and sponsors of this year's Met Gala, sparking widespread protests and calls for boycotts. Guerrilla activist group Everyone Hates Elon plastered New York with anti-Bezos signage, and activists placed 300 bottles filled with fake urine inside the Metropolitan Museum of Art to highlight Amazon workers' bathroom break complaints. New York Mayor Zohran Mamdani declined his invitation, and the absence of celebrities like Meryl Streep and Zendaya fueled speculation about a boycott, though representatives denied any coordinated protest. Despite the controversy, the gala proceeded with many attendees and is expected to raise more than last year's $31 million for the Costume Institute.

At Alserkal Avenue’s Deja Vu, UAE galleries find strength in collaboration

Alserkal Avenue in Dubai has launched "Deja Vu," a multi-gallery exhibition bringing together 20 UAE-based galleries at the Concrete venue, running until May 8. Curated by Zaina Zaarour with co-curators Kevin Jones and Nada Raza, the show features works including German artist Michael Sailstorfer's installation of a car fuel tank, reflecting anxieties around fuel prices and geopolitical uncertainty. The exhibition emerged from urgent community meetings after the Iran war disrupted the spring art season, which typically includes Art Dubai and collector visits. Participating galleries include 16 from Alserkal Avenue, plus Nika Project Space, Total Arts at The Courtyard, Tabari Artspace, and Iris Projects, with many works priced under $10,000 to facilitate sales.

Photographer "Drift" Arrested at His Exhibition Opening

Photographer Isaac “Drift” Wright was arrested at his own solo exhibition opening at Robert Mann Gallery in Chelsea, New York, on Thursday night. NYPD officers charged him with third-degree trespassing, with an undercover officer reportedly present at the event. Wright, a former Army paratrooper known for climbing skyscrapers and restricted sites to capture high-altitude photographs, had previously served jail time in 2020 for evading police. His first solo show, titled "Coming Home," was intended to mark a fresh start, but the arrest occurred just two hours into the opening.

cuban cultural leaders international aid open letter 1234773638

More than 100 Cuban artists, curators, and cultural workers, including the nation's Culture Minister and prominent intellectuals, have issued an open letter titled "Cuba is Not a Threat" appealing for international intervention. They argue the US economic embargo, particularly restrictions on oil and fuel shipments, has crippled the island's infrastructure and exacerbated a severe humanitarian crisis, making stabilization efforts impossible.

adaa cancels 2025 edition the art show 1234747717

The Art Dealers Association of America (ADAA) has canceled the 2025 edition of its flagship art fair, The Art Show, which was scheduled to open with a benefit preview on October 28 at the Park Avenue Armory. In an email to members, ADAA leadership cited a “strategic pause” and said the board made the decision after careful review, with plans to reimagine the fair for long-term sustainability. Exhibitors who submitted deposits will be contacted about reimbursement options, and the fair is expected to return in 2026 with a renewed vision.

just stop oil activists dyed stonehenge not guilty 1234759935

Three Just Stop Oil activists—Luke Watson, Rajan Naidu, and Niamh Lynch—were found not guilty of criminal damage by a Salisbury Crown Court jury on October 31, after dyeing Stonehenge bright orange with a cornflour, talcum powder, and orange dye mixture in June 2024. The defendants argued their actions were protected under freedom of speech and protest rights (Articles 10 and 11 of the European Convention on Human Rights), and noted no lasting damage occurred. English Heritage CEO Nick Merriman acknowledged the distress caused but confirmed no visible damage, while the cleanup cost £620.

ancient rock art australia woodside energy burrup peninsula 1234744046

The Australian government has conditionally approved a 40-year extension for Woodside Energy's North West Shelf gas plant on the Burrup Peninsula (Murujuga), home to an estimated one million petroglyphs dating back 50,000 years. Environment Minister Murray Watt announced the decision on May 28 after a six-year review, imposing strict conditions on air emissions and cultural heritage management, though the specific conditions remain confidential. Archaeologist Benjamin Smith of the University of Western Australia has warned that pollutants from the extended operations pose a grave risk to the rock art, which includes the world's earliest depictions of human faces.

carolyn bessette kennedy fashion auctioneer wardrobe sale 2746342

Signature items from Carolyn Bessette Kennedy's personal wardrobe are being sold at auction by the Fashion Auctioneer. The sale includes four key pieces gifted to her friend Rosemarie Terenzio, such as three cherished Prada coats and a Yohji Yamamoto dress, with estimates reaching up to $30,000. The auction is supplemented by dozens of vintage items from a private collector, some of which were used as wardrobe for the new FX television series 'Love Story,' which dramatizes the couple's relationship.

huge persepolis destruction 2718329

The article recounts the Sack of Persepolis in 330 B.C.E., when Alexander the Great and his Macedonian forces pillaged and destroyed the Achaemenid capital. It describes Persepolis as a marvel of ancient architecture, including the 31-acre limestone terrace, the Apadana hall with 36 columns, and the palace of Xerxes I. Ancient sources like Diodorus of Sicily and Plutarch offer conflicting accounts of the destruction—whether it was spontaneous, premeditated, or fueled by alcohol—while modern historians view it as a political act of retribution for Xerxes' attack on Athens.