art market minute jul 21

Emily Kam Kngwarray, the prolific Aboriginal artist who began painting in her 70s, is receiving belated international recognition nearly two decades after her death. A landmark survey of her work is currently on view at Tate Modern in London, while major galleries and auction houses are selling her pieces for record prices. The article, part of Artnet News's 'Art Market Minute' series, examines which of Kngwarray's works fetch the highest prices and where market growth potential remains.

collectors reveal key advice

Collectors share advice for aspiring art patrons in a two-part series, recounting their early mistakes and lessons learned. Diana Bowes, board chair of the Aldrich Contemporary Art Museum, recalls buying her first pieces at Art Basel in 2006 and warns against purchasing art online without seeing it in person, as well as protecting works from water, children, and house painters. Mana Jalalian, an interior designer based in Dubai with over 400 works by Iranian artists, emphasizes following instincts, continuous learning, and the value of working with an art advisor.

new art fair london women led galleries echo soho

A new boutique art fair called Echo Soho, dedicated to women-led galleries, will debut in London from October 16 to 19, 2025, running alongside Frieze London. Founded by gallery owner India Rose James, the fair will take place at Artist’s House on Manette Street, featuring 12 exhibitors across two floors of a Georgian townhouse. With stand prices starting at £850 and booth sizes from 20 to 30 square feet, Echo Soho aims to lower barriers for mid-sized and emerging galleries, offering support with installations, art handlers, and booth photography. Confirmed participants include Pipeline, Gillian Jason Gallery, and Awita, with support from Soho Estates, Soho House, and Cass Art.

jordan wolfson little room

Jordan Wolfson's latest virtual reality artwork, *Little Room* (2025), debuted at the Fondation Beyeler in Basel during Art Basel. The piece requires participants to undergo a full-body scan using 96 cameras, creating a detailed 3D model that is uploaded into a VR environment. Once inside, pairs of participants find they have swapped bodies, experiencing a disorienting and intimate encounter where they watch their own body being controlled by another person. The work involves a lengthy, ritualistic queue and a twelve-minute VR session that explores themes of identity, voyeurism, and technological mediation.

art basel party june social diary

ARTnews sent correspondents Daniel Cassady and George Nelson to cover the social scene at Art Basel, documenting their experiences across three nights of parties, dinners, and cocktail hours. Cassady's journey was marred by travel delays, but he eventually attended a dinner hosted by Thaddaeus Ropac at Safran Zunft, a garden party by Sean Kelly Gallery, and a late-night gathering organized by multiple galleries. Nelson arrived smoothly and joined Cassady for drinks, noting the challenges of street noise and cabbage smells near their Airbnb.

asian collectors and dealers art basel

Asian collectors and dealers are increasingly choosing to skip Art Basel's flagship Swiss edition in favor of Art Basel Paris, citing the French capital's more appealing experience. Amid a market contraction, figures like Monique Leong are skipping Basel for the second year, while others such as Kankuro Ueshima, Rosy Wu, and Kazunari Shirai still attend. Notable appearances include K-pop star RM of BTS, who made his first public appearance after military service as Samsung Art TV's global ambassador. The fair saw Asian languages spoken widely, and young first-time collectors brought private guides to maximize their visit.

meret oppenheim basel

A new exhibition at Hauser & Wirth's Basel location, timed to Art Basel, reexamines the legacy of Swiss artist Meret Oppenheim, 40 years after her death. The show aims to move beyond her famous 1936 work *Object (Breakfast in Fur)*, presenting the full breadth of her practice across sculpture, painting, readymades, and wearable art. Curated by Josef Helfenstein, the exhibition positions Oppenheim as a multifaceted artist who resisted the labels of Surrealist muse and pop star, highlighting her irreverent, medium-defying approach.

katharina grosse messeplatz art basel interview

German artist Katharina Grosse, known for her immersive spray-painted installations, will create a monumental painting titled "CHOIR" across the entire Messeplatz in Basel during Art Basel. The project, curated by Natalia Graboska, involves spray-painting the 53,800-square-foot pedestrian precinct in shades of magenta, marking the first time a painter has been commissioned to take over the entire square. In an interview with ARTnews, Grosse discusses her evolution from early experiments with spray guns in Marseille to key works like "Untitled" (1998) at Kunsthalle Bern and "The Bedroom" (2004), and her upcoming 2026 show at the Munch Museum in Oslo.

joe coleman jeffrey deitch tribeca film festival

Artist Joe Coleman is the subject of a new documentary film, "How Dark My Love," directed by Scott Gracheff, which premiered at the Tribeca Film Festival in New York. Concurrently, Coleman has curated a group exhibition titled "Carnival" at Jeffrey Deitch gallery, featuring his own hyperrealistic paintings alongside works by artists such as Derrick Adams, George Condo, and Anne Imhof, as well as his personal collection of oddities and ephemera. The film centers on the creation of Coleman's magnum opus, a life-size portrait of his wife, Whitney Ward, titled "Doorway to Whitney," which took nearly four years to complete.

francis bacon pope

The Nahmad family sold a Francis Bacon painting titled *Pope* (1958) for $15 million at the VIP opening of Art Basel. The work, which had been purchased by Helly Nahmad gallery for $6.6 million at a Sotheby’s auction in 2019, was the second-highest known price at the fair, trailing only a $40 million Louise Bourgeois *Spider* sold by Hauser & Wirth.

wet paints summer guide 2025

Artnet News' Wet Paint gossip column presents a selective summer guide for the art world, highlighting key exhibitions and social hotspots. In Manhattan, the Upper East Side offers the Park Avenue Armory's Diane Arbus photo exhibition, the Met's John Singer Sargent show, and the newly opened Frick with its Westmoreland café. Downtown, Bar Oliver in Two Bridges has become an art world haunt, co-created by Olmo and Cy Schnabel. The column also previews themed group shows: "Hope is a dangerous thing" at P.P.O.W. and "CAKE" at Olympia Gallery, featuring edible artworks. Exclusive news reveals the engagement of Lucas Zwirner to Charlotte Lindemann, merging two powerful art-dealing families. Additionally, Sky High Farm in Germantown, New York, is launching a new biennial with works by Anne Imhof, Rudolf Stingel, and Felix Gonzalez-Torres.

see all artworks unlimited 2024 art basel switzerland

Art Basel's Unlimited sector opened on Monday at the Messeplatz in Basel, featuring 70 large-scale projects selected from 93 galleries. Curated by Giovanni Carmine, the showcase includes works such as Agnes Denes' wheat field installation, Mario Ceroli's peace-themed flags, Christo's wrapped Volkswagen Beetle (priced at $4 million), and pieces by Lutz Bacher, Alex Da Corte, and Anna Uddenberg. VIP collectors and museum directors, including Paul Ettlinger and Chris Dercon, were among the first attendees, with galleries using early social media posts to signal status and generate buzz.

estate of susan rothenberg who fused symbolism with abstraction joins hauser wirth

Hauser & Wirth, the mega-gallery with locations across three continents, has announced its representation of the estate of Susan Rothenberg, the influential painter who died in 2020. Rothenberg, known for her psychologically charged works featuring horses, disembodied limbs, and uncanny landscapes, was previously represented by Sperone Westwater gallery from 1987 until her death. The gallery will debut Rothenberg's work at Art Basel in June 2025, followed by her first solo exhibition with Hauser & Wirth in New York in September 2025.

photo london photography market sales

The tenth edition of Photo London opened at Somerset House, marking a decade of growth for the UK's largest photography fair. The fair, running through May 18, has become a key event for the photography market, which has shown resilience despite broader art market declines. While global auction sales for photography dropped 5.6% in 2024 to $59 million, this was far less severe than the 27% overall art market decline, and sales volumes remained near record highs. New director Sophie Parker and cofounder Michael Benson highlighted growing interest from young collectors, though challenges remain as established galleries face an aging collector base and market uncertainty.

nada new york independent art fairs sales report

Two major New York art fairs—NADA New York and Independent—opened this week alongside Frieze and TEFAF, marking a crowded spring fair season. Despite a recent market downturn, both fairs reported strong attendance and early sales. NADA's executive director Heather Hubbs noted high-quality visitors and positive feedback on the new venue, while Independent founder Elizabeth Dee cited a 20% increase in opening-day attendance and robust buying from collectors and institutions. Sales ranged from lower-priced works under $50,000 to six-figure transactions, with galleries like Vielmetter Los Angeles, Andréhn-Schiptjenko, and Fleisher/Ollman Gallery reporting significant sales.

egon schiele artworks recently restituted head to christies

Seven works on paper by Egon Schiele have been restituted to the heirs of Fritz Grünbaum, a Jewish cabaret performer killed at Dachau concentration camp in 1941 after being forced to surrender his art collection to the Nazis. Six of these pieces will be auctioned at Christie’s New York in November 2024, with three watercolor portraits—including *Stehende Frau (Dirne)* (1912), *Selbstbildnis* (1910), and *Ich liebe Gegensätze* (1912)—headlining the 20th Century Evening Sale on November 9, and three more offered in the Impressionist and Modern Works on Paper Sale on November 11. Estimates range from $150,000 to $2.5 million per work, and proceeds will be split among Grünbaum’s heirs, who plan to fund a scholarship program for young musicians.

morgan stanley intelligence report triumph contemporary

Morgan Stanley and Artnet have released an Intelligence Report analyzing the explosive growth of the ultra-contemporary art market—defined as work by artists born after 1974. Auction sales in this category surged 305% from 2019 to 2021, reaching $742.2 million last year, driven by strong demand in the U.S. and China. The report breaks down sales by region, price band, and leading artists, highlighting how galleries, fairs, museums, and collectors are capitalizing on this trend.

a tale of four cities

Artnet News and Morgan Stanley have released a report analyzing the global art auction market across four major cities—London, Paris, Hong Kong, and New York—over the period from 2013 to 2023. Total auction sales for the first half of 2024 fell to $5.05 billion, down from $7.17 billion in the same period of 2023. The report highlights a dramatic 49 percent decline in London's auction sales following the 2016 Brexit vote, while New York has maintained its dominant position, driven by blockbuster collections like those of Peggy and David Rockefeller and Paul G. Allen. Hong Kong saw growth until the Chinese property crisis in 2022, and Paris has gained ground post-Brexit, with sales up 30 percent over 2013.

California’s High Desert Is Rich With Natural and Artistic Beauty—All Amplified by a Budding Art Fair

The fifth annual High Desert Art Fair (HDAF) took place at the Pioneertown Motel in California's High Desert, featuring 20 galleries, nonprofits, studios, and publishers. Founded by Nicholas Fahey of Fahey/Klein Gallery and artist manager Candice Lawler, the fair leverages the area's existing artistic community and natural beauty to attract visitors from Los Angeles and beyond.

Is Hong Kong Back? The GRAND PRIX de Basel 2026

Hong Kong’s art scene experienced a massive surge of activity in March 2026, anchored by Art Basel Hong Kong and Art Central. The city hosted 240 galleries at the main fair, drawing over 91,000 visitors, alongside numerous boutique fairs, auction previews, and major institutional exhibitions. Highlights included a reassembled 1964 Yayoi Kusama installation at Art Intelligence Global, a lecture by Zhang Xiaogang at Asia Art Archive, and a poignant solo show by artist duo Chow and Lin at SC Gallery.

Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

The contemporary art market has declined for the fourth consecutive year, with auction sales for postwar and contemporary works falling to $4.5 billion in 2025 from a peak of $8.5 billion in 2021. Simultaneously, the market has seen a significant rebound in more established categories, with auction sales of Impressionist and Post-Impressionist works rising 47% and Old Masters climbing 30% last year.

Ten years on, Tefaf New York still stands out from the crowd

Tefaf New York returns to the Park Avenue Armory from 15 to 19 May, bringing together 88 exhibitors from 14 countries. The fair, which launched in 2016 as a two-part event and consolidated into a single annual edition in 2022, spans Greco-Roman antiquities, jewellery, 20th-century design, and contemporary art. This year’s edition includes nine new exhibitors such as David Lévy, Larkin Erdmann, Piano Nobile, Macklowe Gallery, and ML Fine Art, and sees the return of John Berggruen after a three-year absence. Fair leadership, including director Leanne Jagtiani and head of fairs Will Korner, emphasize the fair’s distinctive focus on Modern art, which they say differentiates it from other spring fairs in New York that are more heavily weighted toward contemporary work.

The Defining Themes of Today’s Biennial Art

The article analyzes the defining themes and styles of the past four years in the international biennial circuit, based on a survey of 130 biennials. It identifies a core group of artists who appeared most frequently, including Ali Eyal, Apichatpong Weerasethakul, Carolina Caycedo, Kapwani Kiwanga, and Tuan Andrew Nguyen, among others. Many of these artists are also featured in the upcoming 61st Venice Biennale curated by the late Koyo Kouoh. The piece categorizes their work under two broad themes: "Post-Colonial Post-Conceptualism," which involves poetic engagement with colonial history and artifacts, and "Families and Networks," where artists explore personal and political family histories.

'It’s like the natural world. Nothing lasts forever': Tadashi Kawamata on creating his temporary sculptures

Japanese artist Tadashi Kawamata created a temporary wooden vortex sculpture titled "Tornado" inside the Palais de Tokyo in Paris, made from 5,000 individual pieces of wood and installed on the grand staircase for just two weeks in February. The work was commissioned by Ruinart as part of its "Conversations with Nature" series, which presents a piece in Paris before permanently installing it at the champagne house's headquarters in Reims. Kawamata, who has lived in Paris for 18 years, is known for using found materials and creating site-specific, temporary interventions on or inside architecture, emphasizing spontaneity and impermanence.

Art Basel Curbs Pre-Fair Sales—and More Art Industry News

Art Basel has launched a "Basel Exclusive" initiative to curb pre-fair PDF sales, encouraging galleries to withhold works from previews to drive in-person discovery at its flagship Swiss event (June 16–21). Around 170 of 232 exhibitors have opted in. Meanwhile, Volta returns to Basel with a new "5,000 Edit" section for works under CHF 5,000 to attract younger collectors, and the alternative fair Esther will hold its third edition in New York during Frieze Week. In other news, Sotheby's set a U.S. record for design auctions with the Jean and Terry de Gunzburg collection totaling $96 million, and billionaire collector Mitchell P. Rales pledged $116 million to the National Gallery of Art to fund loans to smaller museums. The Smithsonian American Art Museum named Lynda Roscoe Hartigan as its new director, and Gladstone Gallery plans a new Seoul space for 2026.

A Smaller Art Brussels Represents a Shift in the Fair Ecosystem Toward a ‘Quality-First’ Approach

Art Brussels, now in its 42nd edition (April 23–26), has downsized from 164 to 138 participating galleries, a 15% reduction that allows the fair to fit entirely within one hall of Brussels Expo. Director Nele Verhaeren openly acknowledged the shift, framing it as a deliberate move toward a 'quality-first' approach that prioritizes visitor experience over sheer scale. The fair introduces a new section called Horizons, curated by Devrim Bayar of the upcoming Kanal-Pompidou museum, featuring seven large-scale works in the freed-up space. Dealers like Xavier Hufkens and Nadja Vilenne support the strategy, noting that galleries must now carefully choose which fairs to attend amid rising costs and geopolitical tensions.

Cathalijn Wouters’s Lyrical Practice Blurs Painting and Drawing

Amsterdam-based artist Cathalijn Wouters has joined the roster of SmithDavidson Gallery. Her practice, which blends painting and drawing through fields of color and linework, is informed by her graphic design training and a pivotal encounter with modern art at the Stedelijk Museum. She describes her process as beginning with drawings and sketches on linen treated like paper, and cites influences ranging from Marcel Proust to Egon Schiele and postwar painting.

The Met is Finally Treating Lee Krasner as Pollock’s Equal—Will the Market Follow?

The Metropolitan Museum of Art has announced a major upcoming exhibition titled "Krasner and Pollock: Past Continuous," which aims to present Lee Krasner and Jackson Pollock as artistic equals. While the museum's narrative seeks to reframe Krasner as a formidable figure of the New York School on her own terms, the art market continues to reflect a significant valuation gap. Pollock’s auction record stands at over $61 million, while Krasner’s peak public sale remains just under $12 million, highlighting the persistent commercial struggle for female Abstract Expressionists.

Miami Beach’s Bass Museum picks architect for new pavilion

The Bass Museum of Art in Miami Beach has appointed the Los Angeles-based architecture firm Johnston Marklee to design a new 22,000-square-foot pavilion. The expansion, funded in part by a $20.1 million municipal bond, will occupy a site currently used for parking and will feature an elevated gallery designed to withstand South Florida’s environmental challenges, alongside an outdoor patio and performance stage.

SP-Arte underscores Latin America’s resilient rise amid global market recalibration

The 22nd edition of SP-Arte has opened at São Paulo’s Oscar Niemeyer-designed pavilion, featuring over 180 galleries and design studios. While global art markets face a period of recalibration, the Latin American sector—and Brazil in particular—is reporting significant growth, including a 21% year-on-year increase in sales for Brazilian dealers according to the latest Art Basel and UBS report.