Sotheby's is auctioning ten works of art donated by Royal Academicians and honorary RAs, with an estimated total value of up to £2.6 million, to provide financial support for the Royal Academy in London. The lots, including pieces by El Anatsui and Sean Scully, will be featured in the auction house's flagship March contemporary sales.
A new report from UBS and Art Basel, authored by Dr. Clare McAndrew, reveals that the global art market reached an estimated $67.8 billion in 2023, marking a 4% increase from the previous year. The growth was primarily driven by the high-end segment, with sales over $10 million rising by 11%, while the lower and middle markets experienced a decline.
The Los Angeles County Museum of Art (LACMA) will open its new Peter Zumthor-designed David Geffen Galleries on April 19, 2026. The 274-meter-long concrete structure, elevated on piers over Wilshire Boulevard, will become the museum's primary home for its permanent collection, offering over 10,000 square meters of exhibition space. The project, which includes the Elaine Wynn Wing, culminates a two-decade campus transformation.
The Los Angeles County Museum of Art (LACMA) announced that its David Geffen Galleries, designed by architect Peter Zumthor, will open on April 19, 2026, with a ribbon-cutting ceremony. The opening will be followed by two weeks of priority member access and a free day for NexGenLA youth members on May 3. The 900-foot-long building spans Wilshire Boulevard and will house LACMA's permanent collection, featuring approximately 2,500 to 3,000 objects across 110,000 square feet of gallery space. The inaugural installation is organized around the Pacific, Indian, and Atlantic Oceans and the Mediterranean Sea, emphasizing cultural exchange and migration, and includes works by Georges de La Tour, Henri Matisse, Francis Bacon, Vincent van Gogh, and new commissions by artists such as Todd Gray and Lauren Halsey.
Sotheby’s will hold a Modern and Contemporary Art auction on 25 January during Singapore Art Week (SAW) 2026 at The Edition Singapore. The sale features rare works by early Southeast Asian masters, including Walter Spies’ "Die Schlittschuhläufer (The Ice Skaters)" (1922) and Raden Saleh’s "The Eruption of Mount Merapi, by Day" (1865), alongside Vietnamese silk paintings by Le Pho and Mai Trung Thu, and a David Hockney piece. The auction highlights a 60% rise in new bidders from Southeast Asia since 2022.
Sotheby’s is holding its Modern and Contemporary Art auction during Singapore Art Week, featuring rare works that have not been publicly available for decades. Highlights include Walter Spies’s *Die Schlittschuhlaufer (The Ice Skaters)*, estimated at $980,000–$1.8 million, and Raden Saleh’s *The Eruption of Mount Merapi, by day*, appearing at auction for the first time after being held in a private European collection for over a century. Other notable lots include works by Pacita Abad, Marc Chagall, Zao Wou-ki, Mai Trung Thu, and David Hockney. Public exhibition runs January 22–25 at The Singapore Edition, with the live auction on January 25.
Sotheby's is holding a major auction in Singapore on January 25, featuring works by Indonesian Romantic painter Raden Saleh, German painter Walter Spies, and British artist David Hockney, among others. The auction includes Raden Saleh's 'The Eruption Of Mount Merapi, By Day' (1865), expected to fetch between $700,000 and $1.3 million, and Walter Spies' 'Die Schlittschuhlaufer (The Ice Skaters)' (1922), estimated at $980,000 to $1.8 million. Concurrently, the Singapore Art Museum (SAM) is presenting 'Nafasan Bumi – An Endless Harvest' from January 16 to May 31, featuring Indonesian artists Elia Nurvista and Bagus Pandega, whose works use nickel and palm materials to explore the environmental and social impacts of Indonesia's palm oil and nickel industries.
The Oregonian/OregonLive's winter arts guide highlights 10 museum exhibits and events across Oregon designed to bring light and joy during the dark season. Featured exhibitions include "Psychedelicatessen: A Powerful Dose of Art by Steve Marcus" at the Oregon Jewish Museum and Center for Holocaust Education, "Minidoka on Our Minds" at the Japanese American Museum of Oregon, "David Hockney: Works from the Collections of Jordan D. Schnitzer and His Family Foundation" at the Portland Art Museum, and "From Highway 101: Images of Oregon's Most Iconic Highway" at the Oregon Historical Society, among others.
The article reviews the art world in 2025, highlighting a mixed year of declining sales values and cautious buyers, yet punctuated by record-breaking auctions and dramatic events. Fine art auction sales in the first half of 2025 totaled $4.7 billion, an 8.8% drop from 2024, with the average lot price falling to a decade-low of $24,224, indicating a shift toward lower-value works and younger collectors. Major sales included Gustav Klimt's Portrait of Elisabeth Lederer, which sold for $236 million at Sotheby's, becoming the second most expensive artwork ever auctioned, and Frida Kahlo's El sueño, which set a new auction record for a female artist at $55 million. The market was also unsettled by U.S. trade tariffs and economic uncertainty, while a daring heist and debates around AI art captured public attention.
The article, published by TheValue.com in partnership with AIG, provides expert analysis and insights from New York’s November auction week. It covers key sales, market trends, and notable results from major auction houses including Christie's, Sotheby's, and Phillips, with commentary from specialists and market observers.
Frida Kahlo's self-portrait *El sueño (La cama)* (1940) sold for $54.7 million at a Sotheby’s auction in New York, setting a new record for the artist and the highest price ever paid for a work by a female painter. The sale, which exceeded pre-auction estimates of $40–50 million, briefly appeared to signal progress in the art market's gender dynamics.
At Art Basel Miami Beach, one year into Donald Trump’s second presidential administration, most galleries are avoiding overt political themes, though a few notable exceptions stand out. The most talked-about piece is Maurizio Cattelan’s marble sculpture *Bones (2025)*, a crashing eagle metaphor for the nation’s state, shown on Gagosian’s stand. Other politically charged works include Nicholas Galanin’s burned totem pole and drone-inspired rug, David Hammons’ *African American Flag (1990)*, and Tim Youd’s typewriter performance of Hunter S. Thompson’s book. Most exhibitors, however, focus on apolitical American iconography or market-driven choices.
Gustav Klimt's portrait "Portrait of Elisabeth Lederer" (1914–1916) sold for $236.4 million (about R4 billion) at a Sotheby's auction in New York, becoming the most expensive modern artwork ever sold at auction and the second most expensive painting in history, behind only Leonardo da Vinci's "Salvator Mundi." The sale, which featured works from the estate of billionaire collector Leonard Lauder, unfolded in a tense 20-minute bidding war among six collectors. The painting had been hidden from public view since the 1980s. The same auction also saw Maurizio Cattelan's 18-karat gold toilet "America" sell for over $12 million.
Sotheby’s New York held its Now & Contemporary Evening Auction on November 18 at the newly opened Breuer building, featuring works by Black artists. Noah Davis’s “The Casting Call” (2008) sold for $2 million, setting a new auction record for the late artist, while Antonio Obá’s “Alvorada – Música Incidental Black Bird” (2020) achieved $1.016 million, nearly ten times its low estimate. However, major paintings by Barkley L. Hendricks and Kerry James Marshall went unsold, highlighting a mixed market for exceptional figurative works. The auction followed a blockbuster sale of Leonard A. Lauder’s collection, where Gustav Klimt’s portrait sold for $234 million.
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Gustav Klimt's "Portrait of Elisabeth Lederer" sold at Sotheby's for $236.4 million on November 20, 2025, becoming the most expensive modern artwork ever auctioned and the second most expensive painting overall. The life-size oil painting, created between 1914 and 1916, depicts the 20-year-old daughter of prominent Jewish art collectors. After a 20-minute bidding war starting at $130 million, an anonymous telephone bidder won the work, which had been owned by cosmetics heir Leonard Lauder until his death in June 2025.
Christie’s 21st-century evening sale at Rockefeller Centre in New York on 19 November achieved $99.5 million before fees ($123.5 million with fees), surpassing last November’s equivalent sale of $106.5 million with fees. The sale featured 45 lots, with only one unsold (a Cecily Brown abstract), resulting in a 2% buy-in rate. Three artist records were set for Firelei Báez, Joan Brown, and Olga de Amaral. A major highlight was the collection of Chicago collectors Gale Neeson and the late Stefan Edlis, comprising 19 lots that realized $40.3 million ($49.2 million with fees), including works by Andy Warhol, Richard Prince, and Diego Giacometti. Other notable sales included Cindy Sherman’s *Untitled Film Still #13* (1978) at $2.2 million with fees, Ed Ruscha’s *How Do You Do?* at $6.7 million with fees, and a Warhol *The Last Supper* (1986) sold to Paris dealer Frederic Larroque for $8.1 million with fees.
Sotheby's New York held a landmark auction evening on November 18, 2025, featuring two headline-grabbing lots: Gustav Klimt's 'Portrait of Elisabeth Lederer' (1914-16), which sold for $236.4 million, becoming the most expensive modern artwork ever sold at auction, and Maurizio Cattelan's solid-gold toilet 'America', which sold for a disappointing $12.1 million after a single bid. The Klimt came from the collection of the late cosmetics heir Leonard Lauder, whose two-night auction total reached $527.5 million. The toilet, previously owned by investor Steve Cohen, had been commissioned when gold prices were far lower, ensuring the seller a profit regardless of the modest bidding.
Gustav Klimt's portrait of Elisabeth Lederer sold for $236 million (£180 million) at Sotheby's in New York, setting a new record for the most expensive work of modern art ever sold at auction. The painting, completed between 1914 and 1916, depicts the daughter of Klimt's most important patrons and was part of the collection of the late cosmetics billionaire Leonard Lauder, who had purchased it in 1985. The sale took place during Sotheby's first evening sale at its new Manhattan headquarters, with bidding starting at $130 million and narrowing to two contenders before the hammer fell at $236 million.
Gustav Klimt's "Portrait of Elisabeth Lederer" sold for $236.4 million at Sotheby's New York on Tuesday night, becoming the second most expensive artwork ever sold at auction and the most expensive modern artwork ever auctioned. The six-foot-tall painting, created between 1914 and 1916, depicts the young heiress and daughter of Klimt's patrons. Six bidders competed for 20 minutes before the work was sold, though Sotheby's declined to name the buyer. The painting had been looted by the Nazis during World War II, returned to the Lederer family in 1948, and later acquired by Estée Lauder heir Leonard A. Lauder in 1985. Lauder died in June at age 92, and the sale was part of his collection auction that fetched $575.5 million total.
Sotheby's first evening auctions in its new Manhattan headquarters, the former Whitney Museum building designed by Marcel Breuer, achieved a record total of $605.1 million ($706 million with fees) on November 18. The night was headlined by the sale of 24 works from the collection of the late billionaire Leonard Lauder, which alone brought in $456.2 million. The standout lot was Gustav Klimt's 'Bildnis Elisabeth Lederer (Portrait of Elisabeth Lederer, 1914-16)', which sold for $205 million ($236.3 million with fees) after a nearly 20-minute bidding war, becoming the second-most-expensive painting ever sold at auction. A subsequent contemporary art auction added $148.8 million ($178.5 million with fees) across 44 lots.
Gustav Klimt's rare portrait 'Elisabeth Lederer' sold for $236.4 million at Sotheby's, setting a new record as the most expensive work of modern art ever sold at auction. The painting, created in the final years of Klimt's life, narrowly survived World War II after being separated from other works destroyed in a fire at Immendorf Castle. It came from the collection of Estée Lauder heir Leonard A. Lauder, who died earlier this year. The sale also featured Maurizio Cattelan's 18-karat gold toilet 'America', which drew only a single bid and sold for $12.1 million.
The article reports on major auction results from Christie's, Bonhams, and other houses, including a $700 million evening sale at Christie's and a Norman Rockwell painting sold for $7.25 million linked to former President Donald Trump. It also highlights notable consignments and bidding activity from high-profile collectors and estates.
A portrait by Gustav Klimt, *Portrait of Elisabeth Lederer* (1914–1916), sold for $236 million at Sotheby's in New York, setting a record for the auction house. The painting, depicting the daughter of Klimt's patron, was part of the collection of late billionaire Leonard A. Lauder. In the same sale, Maurizio Cattelan's solid gold toilet *America* (2016) fetched $12.1 million, with the piece satirizing superwealth. The toilet had previously been exhibited at the Guggenheim Museum and was stolen from Blenheim Palace in 2019; its current whereabouts remain unknown.
Christie's kicked off New York's November auction season with a double-header 20th-century evening sale on November 17, generating $574.7 million before fees and $690 million with fees. The sale featured 80 lots, including 18 from the collection of supermarket magnate Robert Weis and his wife Patricia Ross Weis, with highlights such as Pablo Picasso's *La Lecture (Marie-Thérèse)* selling for $45.4 million and Mark Rothko's *No. 31 (Yellow Stripe)* achieving $62.1 million. Two artist records were set, including for Leonor Fini, and the sale achieved a 94% sell-through rate, with 59 lots backed by third-party or house guarantees.
Christie's New York will auction Kim Whan-Ki's 1971 painting *19-VI-71 #206* (estimate $7.5–10 million) on 17 November 2025 as part of its prestigious 20th Century Evening Sale. This marks the first time a Korean artwork has been included in this marquee sale, placing the piece alongside works by Pablo Picasso, Marc Chagall, Joan Mitchell, and David Hockney. The painting, from the artist's New York period, is one of only 30 large-scale 'dot paintings' exceeding 200 cm and was created in the same year as his record-setting *05-IV-71 #200 (Universe)*, which sold at Christie's Hong Kong in 2019 for over HK$100 million.
New York's leading auction houses, including Sotheby's and Christie's, expect to generate between $1.7bn and $2.3bn during their November sales, driven by major consignments such as 55 works from the estate of Leonard Lauder and 37 works from the collection of Jay and Cindy Pritzker. Sotheby's, which has moved its headquarters into the former Whitney Museum's Breuer Building, leads the season with estimated sales of $863m to $1.175bn, featuring Gustav Klimt's Portrait of Elisabeth Lederer (estimated at $150m) and Frida Kahlo's El Sueño (La Cama) (estimated at $40m-$60m).
Sotheby's will auction Maurizio Cattelan's solid gold toilet sculpture, *America* (2016), during its evening sale of contemporary art in New York on 18 November. Bidding starts at approximately $10 million, based on the current market value of the 18-karat gold used in the work. The piece, a fully functioning toilet modeled after a standard Kohler design, will be on view at Sotheby's Breuer Building from 8 to 17 November, though visitors will not be allowed to use it. This is the only surviving edition; another was famously stolen from Blenheim Palace in 2019 and believed melted down.
Tom Sachs has signed with The Lede Company, a US public relations firm, for agency representation, while Thaddaeus Ropac continues to represent him for gallery and fine art inquiries. This arrangement highlights Sachs's expanding activities beyond the traditional art market, including collaborations with Nike and Levi's, such as a Nike app promoting the Mars Yard 3.0 trainers. The announcement came in August, amidst other art-world movements like Jeff Koons's return to Gagosian from Pace Gallery.
Sotheby's has announced that an edition of Maurizio Cattelan's gold toilet sculpture "America" (2016) will be auctioned in its The Now & Contemporary Evening Auction on November 18, 2025, with a starting bid of approximately $10 million based on its 101.2-kilogram weight in gold. The work first gained fame at the Solomon R. Guggenheim Museum in New York in 2009, where over 100,000 visitors used it, and later made headlines when it was stolen from Blenheim Palace in a raid that caused structural damage and flooding. The stolen piece was never recovered and is presumed melted down, making this edition the only one in existence.
Maurizio Cattelan's iconic 2016 gold toilet sculpture, 'America,' will be auctioned at Sotheby's on November 18, 2025, during The Now and Contemporary evening auction. The starting bid will be tied to the fluctuating gold market price, currently around $10 million based on its 101.2 kg weight, and Sotheby's will accept cryptocurrency as payment. The work, a fully functional toilet made of 18-karat gold, was famously installed at the Solomon R. Guggenheim Museum in New York in 2016, where over 100,000 visitors used it, and was later stolen from Blenheim Palace in 2019. This is the only surviving version of the two originally made.