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will the recent art market momentum continue into 2026

Artnet News columnist reflects on the fragile state of the art market as 2025 ends, noting that global instability and troubling news have dampened buyer psychology. Despite this, major auction houses reported strong annual sales—Sotheby's at $7 billion (up 17%) and Christie's at $6.2 billion (up 6%)—and a series of high-profile sales, including the Pauline Karpidas collection auction and Leonard Lauder's Gustav Klimt portrait fetching $236.4 million, have sparked renewed momentum. The article quotes advisors and dealers who sense a market bottom has passed, with buyers returning to auctions and fairs like Art Basel Miami Beach.

monas eyes book cover vermeer painting controversy

Thomas Schlesser's novel *Mona's Eyes* has been named Barnes & Noble's book of the year for 2025, but its cover has sparked controversy online. The cover features Johannes Vermeer's *The Girl with the Pearl Earring*, even though the story is about a girl named Mona who visits Paris museums with her grandfather, and the painting is not held in Paris—it resides at the Mauritshuis in The Hague. A viral Reddit thread on an art history subreddit accused the publisher of "ragebait," noting the mismatch between the cover image and the book's content. Schlesser, an art historian who teaches at the École Polytechnique and runs the Hartung Bergman Foundation, defended the choice, saying he wanted an iconic work symbolizing light and darkness rather than highlighting any of the 52 artworks featured in the story.

art bites mona lisa louvre heist

On October 19, 2025, thieves disguised as construction workers stole $102 million in French crown jewels from the Louvre, but the article contrasts this with the far more infamous 1911 heist of Leonardo da Vinci's *Mona Lisa*. The 1911 theft was carried out by Vincenzo Peruggia, an Italian handyman and museum employee who hid in a supply closet, removed the painting's glass casing (which he had installed), and fled with two accomplices via subway. The theft went unnoticed for 28 hours, and the French press sensationalized the story, even accusing figures like J.P. Morgan and Pablo Picasso.

warhol portrait muhammad ali art basel miami

A 1977 Andy Warhol portrait of Muhammad Ali, priced at $18 million, will be the centerpiece of Lévy Gorvy Dayan's booth at Art Basel Miami Beach. The 40-inch acrylic and silkscreen canvas, featuring a royal purple background, was previously purchased for $18.1 million at Christie's in 2021. The work is part of a series of 10 Warhol portraits of sports stars commissioned by collector Richard L. Weisman, and is autographed on the back by Ali.

moma carlo rambaldi centennial screening series

The Museum of Modern Art (MoMA) in New York will host a two-week screening series starting December 10, featuring 15 films that showcase the special effects work of the late mechatronics maestro Carlo Rambaldi. Co-curated with Rome's Cinecittà studios, the series spans Rambaldi's career from Italian arthouse and exploitation films to Hollywood blockbusters like *Alien* (1979), *E.T. the Extra-Terrestrial*, *King Kong* (1976), and *Dune* (1984). The screenings include films directed by Federico Fellini, Pier Paolo Pasolini, Dario Argento, and David Lynch, among others. Rambaldi, who would have turned 100 this autumn, was also honored earlier this year with an exhibition at Long Island City Culture Lab and a star on the Hollywood Walk of Fame.

performa 2025 aria dean diane severin nguyen sylvie fleury

The article recounts the author's experience at the 2025 Performa biennial in New York, beginning on November 4 with the death of Dick Cheney and the election of Zohran Mamdani as mayor. The author attended Diane Severin Nguyen's performance "War Songs," which restaged historical protest concerts from the Vietnam War era, blending anti-war anthems with pop music. The piece also highlights missing performances by Lina Lapelytė and Ayoung Kim, and expresses anticipation for Aria Dean's play "The Color Scheme."

new york auctions recap

New York's marquee auction week delivered strong results, with Sotheby's and Christie's posting combined sales of nearly $2 billion. Sotheby's achieved a record $706 million evening at its new Breuer Building headquarters, driven by the Leonard Lauder estate sale, while Christie's $690 million 20th-century sale was up 41.9% from last November. Gustav Klimt's *Portrait of Elisabeth Lederer* sold for $236.4 million, setting a new auction record for the artist and becoming the most expensive Modern artwork ever sold at auction. Frida Kahlo's *El Sueño (La Cama)* fetched $54.7 million, a record for a work by a woman artist at auction.

sothebys modern sales by the numbers

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.

art market minute nov 24

Last week's New York marquee auctions saw record-breaking sales and billions of dollars in transactions, providing a much-needed boost of confidence after nearly three years of market contraction. The article reviews top sales and notable flops from the week, analyzing how these results are shaping the current market outlook.

peter hujar day biopic ira sachs

Filmmaker Ira Sachs has released a new film titled *Peter Hujar's Day*, based on a 1974 audio recording and subsequent book by writer Linda Rosenkrantz. The film captures a single day in the life of photographer Peter Hujar, who died of AIDS-related complications in 1987, as he recounts mundane details and artistic anxieties to Rosenkrantz. Starring Ben Whishaw as Hujar and Rebecca Hall as Rosenkrantz, the movie adapts a transcript Rosenkrantz rediscovered and published in 2021. Sachs describes the project as an exploration of portraiture, light, and emotion, contrasting with his earlier, more turbulent film *Passages*.

erwin olaf freedom retrospective stedelijk

The Stedelijk Museum in Amsterdam has opened "Erwin Olaf—Freedom," a major retrospective of the late Dutch photographer Erwin Olaf, who died in 2023 at age 64. The exhibition spans over a dozen rooms, showcasing his diverse output from subcultural documentation and commercial work to staged tableaux, self-portraits, and club ephemera, alongside video and sculpture. It juxtaposes formally refined portraits, such as Queen Máxima, with provocative early works like "Joy" (1985), refusing to impose a single narrative on his career.

chris levine rob munday queen portrait lawsuit

British artist Rob Munday has filed a lawsuit against Chris Levine in the High Court, claiming he is the co-creator of two iconic holographic portraits of Queen Elizabeth II—Equanimity and Lightness of Being (2004). Munday alleges that Levine and his company Sphere 9 violated his moral rights by failing to credit him as a co-author, despite a 2005 agreement recognizing joint authorship. The works, commissioned by the Jersey Heritage Trust and held in London’s National Portrait Gallery, were created using holography technology. Levine denies the claims, calling Munday a "technical subcontractor," and says he will fiercely defend his sole authorship. The case follows a separate 2023 dispute between Levine and the trust over unauthorized copies, which was settled with a statement naming Levine as the sole artist commissioned.

pace japan director tokyo interview

Kyoko Hattori, vice president of Pace Japan, expressed her desire for Tokyo to become the center of art in Asia in a recent interview with the Japan Times. This comes one month after the third edition of Tokyo Gendai art fair closed with solid but unspectacular sales. Pace, the only mega-gallery with a location in Tokyo, opened a space in the Azabudai Hills development, which has been seen as a signal of the city's arrival on the global art stage. The article notes cautiously optimistic data, with Japan seeing 2 percent growth in the art market last year while the wider market contracted by 12 percent, and competitors China and Korea saw significant drops.

hauser amp wirths uk profits drop

Hauser & Wirth's UK subsidiary reported an 87% decline in pretax profit for 2024, falling to $1.6 million from $12.5 million the previous year, as revenue dropped by more than half to $91.4 million. The gallery attributed the downturn to a sharp fall in secondary-market sales, which can fluctuate significantly based on a few high-value transactions. The UK entity represents only a small portion of the gallery's global business, which the founders said remained aligned with the prior year's successful performance. Separately, the gallery's hospitality arm, Artfarm Group, posted a wider pretax loss of $24 million despite a 16% rise in turnover.

aspen art museum redefining future

The Aspen Art Museum is undergoing a strategic shift under director Nicola Lees, moving away from its reputation as a collector's clubhouse toward becoming a global institution. The museum's annual ArtCrush gala and fundraiser week, once centered on wealth-displaying collector home visits and glitzy parties, now emphasizes intellectual programming like the inaugural AIR festival, a $20 million artist-led interdisciplinary initiative featuring talks by Werner Herzog and Hans Ulrich Obrist. This change comes amid soaring local real estate prices, including a $108 million home co-purchased by Steve Wynn and Thomas Peterffy, and contrasts the area's deep pockets with the museum's free admission since 2008.

clearing gallery closes

Clearing, a New York-based gallery known for launching the careers of artists like Korakrit Arunanondchai, Harold Ancart, and Marguerite Humeau, has permanently closed its spaces in New York and Los Angeles after 14 years. Founder Olivier Babin cited an unsustainable path forward, stating the gallery could no longer operate at its standards. The closure follows a wave of New York gallery shutdowns, including Blum, Venus Over Manhattan, and Kasmin, which is transitioning into a new entity called Olney Gleason. Clearing’s final exhibitions were solo shows by Coco Young in New York and Henry Curchod in Los Angeles.

top art collector david geffen sued by estranged husband for breach of contract

Entertainment mogul and top art collector David Geffen was sued on Tuesday by his estranged husband, model Donovan Michaels, for alleged breach of contract. The lawsuit, filed in Los Angeles Superior Court, claims Geffen promised Michaels lifelong financial support but cut him off after initiating divorce proceedings. The 33-page complaint describes their relationship as exploitative, comparing it to the plot of "Trading Places." Separately, Geffen is also entangled in a legal dispute with crypto billionaire Justin Sun over an Alberto Giacometti sculpture allegedly stolen and traded as part of a fraud scheme.

ulay wins case regarding against former collaborator marina abramovic

A Dutch court has ordered performance artist Marina Abramović to pay her former collaborator Ulay (Ulay Laysiepen) over €250,000 ($280,500) for violating a 1999 contract regarding joint works created between 1976 and 1988. The court ruled that Ulay is entitled to 20 percent net royalties on sales of those works, plus €23,000 in legal costs. Ulay had accused Abramović of failing to provide accurate sales statements and making only four payments over 16 years. The case stems from their decade-long artistic and romantic partnership, which ended in 1988 with their famous walk on the Great Wall of China.

art basel 2025 blue chip galleries sales trend

ARTnews analyzed publicly reported sales from five blue-chip galleries—Hauser & Wirth, Pace, Thaddaeus Ropac, White Cube, and David Zwirner—at Art Basel 2025, finding a combined total over 35% lower than in 2024, around 8% below 2023, and just over 20% down from 2022. The high-water mark was $204 million in 2024, boosted by eight-figure works from Hauser & Wirth. Meanwhile, the number of artists sold by these galleries rose steadily from 109 in 2022 to 157 in 2025, indicating a shift toward broader, less concentrated inventory. Dealers reported mixed sentiments, though seven-figure deals still occurred, and some noted that market uncertainty has led to more scattershot presentations with wider price ranges.

aby rosen pays 55 million for gilded age building artist jay maisel bought for 102000 around 1966

Art collector and real estate financier Aby Rosen paid $55 million for the Gilded Age landmark building at 190 Bowery in New York, which had been owned for decades by photographer Jay Maisel. Maisel bought the property—the former Germania Bank building—around 1966 for a reported $102,000, making the sale a dramatic example of New York real estate appreciation. The building, located near the New Museum, was listed on Rosen's company RFR Holdings before he entered a contract to purchase it in August, and was subsequently re-listed for sale through Cushman & Wakefield.

big questions art basel

Art Basel, the flagship art fair, returns to Basel, Switzerland from June 17 to 22 amid a period of market contraction and geopolitical instability. The article explores key questions surrounding the fair, including whether the proliferation of new Art Basel editions in Paris and Doha is diluting interest in the original Swiss event. Gallerists and collectors weigh in, noting that while Paris is rising in importance, Basel retains unmatched prestige and draws a genuinely engaged international audience. The piece also highlights the fair's new "Premiere" section, which spotlights mid-career and established artists, featuring London gallery Edel Assanti's debut presentation of American artist Lonnie Holley.

met museum rockefeller wing renovation review

The Metropolitan Museum of Art's Michael C. Rockefeller Wing, closed since 2021, reopens after a $70 million renovation. The redesign by architect Kulapat Yantrasast transforms the previously dark and cramped galleries into airy, energizing spaces, with a major rehang that reconfigures the Oceania galleries. Notable changes include the repositioning of a Kwoma ceremonial house ceiling in collaboration with descendants of the original painters, the relocation of Asmat funerary poles to a dedicated gallery, and the addition of newly acquired works by Ömie artist Ilma Savari. The renovation also features revised wall texts that better contextualize the objects.

sebastiao salgado photographer dead

Sebastião Salgado, the acclaimed Brazilian photographer known for his powerful black-and-white images documenting worker exploitation, environmental destruction, and human rights abuses, has died at age 81. His death was announced by Instituto Terra, the organization he co-founded with his wife Lélia Wanick Salgado. Salgado had been in declining health since contracting malaria in the 1990s. His work spanned decades and continents, from the Sahel desert to the Amazon rainforest, and he was widely regarded as one of the most beloved photographers of his generation.

emergency stay art institute of chicago schiele restitution case

The Art Institute of Chicago has been granted an emergency stay by an appellate judge, pausing the restitution of Egon Schiele's drawing "Russian War Prisoner" (1916) to the heirs of Fritz Grünbaum, a Jewish cabaret performer and art collector who died in a Nazi concentration camp. The museum is appealing a New York Supreme Court judge's April 23 order to surrender the artwork, which has been off view since September 2023 when it was seized by the Manhattan District Attorney's office. The museum disputes that the work was looted, citing evidence that Grünbaum's sister-in-law recovered the collection after the war and sold it to a dealer.

what is the dubai collection art

The Dubai Collection, launched in 2021 under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, is billed as the emirate's first institutional collection of modern and contemporary art. However, it has no physical location, does not acquire artworks, and exists primarily as a digital platform where top Dubai collectors list their holdings. At Art Dubai 2025, the Collection presented its third exhibition, "Common Grounds," organized by Zayed University students, featuring works from 1949 to 2024. The initiative also includes research, education, and cultural preservation programs, along with events like Dubai Collection Nights.

in london sadie coles expands amid stark drop in profits

Sadie Coles, a prominent London contemporary art gallery, announced plans to open a new 6,000-square-foot location in Mayfair this fall, despite reporting a steep 46 percent drop in revenue for 2024, from £52.3 million to £28.3 million. Pre-tax profits plunged 93 percent to £400,000, down from £5.5 million the prior year. Coles attributed the downturn to a slowdown at the high end of the art market, but noted the gallery carries no debt and has seen a 20 percent increase in total assets over five years, growing from £23.9 million to £28.8 million.

‘I shared a single bed with my mother for three years’: Sung Tieu on her monument to immigrant workers in Venice

Artist Sung Tieu has clad the German pavilion at the 2024 Venice Biennale with a mosaic replica of the Gehrenseestrasse complex, a now-abandoned housing estate in Berlin where she lived as a child. The work, titled "Human Dignity Shall Be Inviolable," uses three million mosaic stones to recreate the facade of the prefabricated blocks that housed Vertragsarbeiter—contract workers from Vietnam, Mozambique, Angola, and Cuba who bolstered East Germany's economy. Tieu, who shared a single bed with her mother in the complex for three years, conceived the pavilion alongside the late artist Henrike Naumann.

‘An open letter to the nation’: National Gallery of Art reckons with America at 250

The National Gallery of Art in Washington D.C. has launched "Dear America: Artists Explore the American Experience," a major exhibition marking the United States' 250th anniversary. Featuring over 100 works on paper by 95 artists, the show eschews traditional patriotic tropes in favor of a nuanced, self-critical look at the nation's history. Organized around the themes of land, community, and freedom, the exhibition juxtaposes iconic imagery from artists like Roy Lichtenstein and Thomas Moran with provocative contemporary perspectives from Zanele Muholi and Carrie Mae Weems.

‘The violence of racist tyranny’: African Guernica goes on display alongside Picasso masterpiece

The Reina Sofía museum in Madrid has installed Dumile Feni's 1967 drawing 'African Guernica' directly opposite Pablo Picasso's iconic 'Guernica' painting. This pairing is the centerpiece of the museum's new annual exhibition series 'History Doesn’t Repeat Itself, But It Does Rhyme,' which aims to place works from different cultural contexts in dialogue with Picasso's masterpiece.

I thought my cuckoo clock was amazing, but it’s got nothing on my statue of Bert the cheery chef | Adrian Chiles

Adrian Chiles, a writer and broadcaster, recounts his acquisition of a whimsical figurine of a cheerful chef, which he named Bert after the reclamation yard owner from whom he bought it in the Black Country. He describes the personal joy and daily lift the statue brings him, contrasting it with a cuckoo clock whose novelty eventually wore off. Chiles details the statue's charming, slightly worn appearance and its role as a conversation piece, particularly due to the West Midlands slang word "bostin'" written on its menu board.