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Comment | 'Artnet-Artsy merger: a Bloomberg for art?'

Artnet and Artsy have officially merged under private equity firm Beowolff Capital, founded by former Goldman Sachs trader Andrew Wolff. The deal, which took Artnet private, has already led to layoffs at both companies—including at least seven staff members from Artnet News—and the closure of Artnet's Berlin office. Jeffrey Yin, CEO of Artsy, will lead the combined entity. The merger aims to combine Artnet's vast database of 18 million auction results with Artsy's primary market gallery network to create a seamless user experience for discovering, researching, and buying art.

Investor Says Artnet Layoffs Were Necessary for ‘Financial Strength’

Investor and owner Andrew E. Wolff has publicly explained the recent layoffs at Artnet and Artsy as a necessary step for the companies' financial restructuring and future growth. He framed the cuts as part of a broader consolidation strategy, merging the US businesses and organizational structures of the two digital art platforms while keeping their brands separate.

Arts Groups Speak Out Against US Trade Representative’s Potential New Tariffs

The U.S. Trade Representative, Jamieson Greer, has launched a Section 301 investigation into 60 countries to determine if forced labor practices create unfair trade advantages. This move follows President Trump’s continued push for sweeping tariffs after previous attempts were struck down by the Supreme Court. Major art organizations, including the Association of Art Museum Directors (AAMD) and Heritage Auctions, are formally petitioning for works of art and antiquities to be exempt from any resulting duties.

154-Million-Year-Old Dinosaur Fossil Debuts in the U.K.—But Its Species Remains a Mystery

A remarkably complete 154-million-year-old theropod fossil, nicknamed Juliasaurus, has made its public debut at the Hollytrees Museum in Colchester, U.K. Discovered in Wyoming’s Morrison Formation in 2020 and sold by the David Aaron gallery to a private collector, the 20-foot-long specimen is currently part of the “Discover: Museum Wonders” exhibition. While initially thought to be an Allosaurus or Marshosaurus, unique anatomical features in its skull and pelvis suggest it may represent an entirely new species.

what would happen to auction houses if luxury art sales

Major auction houses including Christie's, Sotheby's, and Phillips are experiencing a significant shift as luxury goods—such as cars, watches, handbags, and jewelry—see explosive growth while fine art sales decline. In 2025, fine art sales at the 'Big Three' fell by 35% to $7.04 billion, whereas luxury auction sales rose 18% to $1.84 billion. This trend is most visible at Sotheby’s, where luxury now accounts for a third of total revenue, driven by massive private sales and strategic expansions into sectors like collector cars.

nanjing museum artifacts sale corruption investigation report

A major investigation into China's Nanjing Museum has uncovered decades of systemic corruption and mismanagement that led to the secret sale of national treasures into the private art market. The scandal erupted after five paintings from a 1959 donation by the Pang family were found missing, with one, a Ming dynasty painting by Qiu Ying titled 'Spring in Jiangnan,' appearing at auction in 2025 valued at $12.7 million. The probe found that former vice-director Xu Huping authorized illegal transfers of donated works to a state-run cultural relics store for sale, where they were drastically undervalued and sold to private collectors.

the art marketplace private sales

A new digital platform called the Art Marketplace, founded in mid-2025 by Elliot Safra and a group of partners, aims to streamline private art sales by addressing common frustrations in the secondary market. Unlike traditional auction houses or gallery sales, the platform lists artworks without images, revealing only key details like artist name, description, price, and last update. Requests for images or condition reports are vetted to ensure qualified interest, prioritizing confidentiality and avoiding public exposure that could harm a work's market value. Sellers can list works in minutes, bypassing intermediaries like advisors or dealers, while buyers gain access to previously obscure off-market inventory.

chinese vase sale cancelled french court

A French court ordered Galerie Kraemer in Paris to return €2.8 million ($3.25 million) to collector Sheikh Hamad bin Abdullah Al Thani over a Chinese vase, citing serious doubts about the 18th-century dating of its gilded bronze mounts. The vase, which sold for €815 in Brazil 20 years ago, passed through a Paris flea market and three antique dealers before Laurent Kraemer purchased it for €180,000. Sheikh Hamad bought the vase in 2012 but later had it examined after Galerie Kraemer faced multiple fake furniture cases. Expert Sébastien Evain deemed the dating highly improbable, while gallery-commissioned experts Gilles Perrault and Guy Kalfon, who only saw photographs, defended the 18th-century attribution. The court annulled the sale, and the gallery plans to appeal.

semadar miami

Santina Semadar Panetta, a progenitor of Neo-Pointillism, recently exhibited her vibrant, brushstroke-driven works at Art Miami. In an interview with Artnet News, she discussed her debut at the fair, showing two key pieces—'Souls Connection' (2022) and 'Ciel et Terre' (2023)—chosen to reflect Miami's dual nature of boldness and introspection. She also described her practice as 'emotional architecture,' evolving to engage more deeply with classical art philosophy and contemporary themes like identity and the fluidity of time.

cartier into the wild miami

Cartier has opened a theatrical pop-up exhibition titled "Into the Wild" in Miami during Art Week, showcasing its archive of animal-themed jewelry and objets. The exhibition guides visitors through five staged "worlds" featuring the iconic Panthère motif alongside other fauna and flora, with vintage pieces from the 1970s, 1980s, and 1990s, and a finale by Berlin-based artist Clare Celeste. The experience concludes with golf carts transporting guests to Cartier's newly renovated Miami flagship boutique.

adaa cancels 2025 edition the art show

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.

jeffrey epstein emails show art buying plans studio visits

Newly released documents from the House Oversight Committee reveal Jeffrey Epstein's involvement in the art world, including emails from February 2017 in which Epstein and associates Etienne Binant and Darren Indyke discussed buying art directly from emerging artists, bypassing galleries and fairs. Binant proposed a strategy to "have an impact on the ecosystem" by supporting artists early, and Indyke confirmed $1 million was available for purchases. Separate emails show Epstein commenting on the disputed painting *Salvator Mundi*, claiming it was worth only $1.5 million and linking its sale to Saudi Crown Prince Mohammed bin Salman via Dmitry Rybolovlev.

andrew wolff artnet artsy future

Andrew Wolff, CEO of Beowolff Capital, has acquired Artnet and a controlling stake in Artsy, positioning himself as a key consolidator in the digital art market. In an interview tied to his inclusion in the Observer's “Art Power Index,” Wolff outlined plans to integrate data across platforms, develop AI-native tools, and create a seamless ecosystem for discovery, valuation, and transaction, aiming to empower younger collectors who favor networked, permissionless access over traditional gatekeepers.

art basel ubs report women and gen z

The Art Basel & UBS Survey of Global Collecting 2025, authored by Clare McAndrew, surveyed 3,100 high-net-worth collectors across ten markets. It reveals that nearly three-quarters of respondents are Gen Z or Millennials, with Gen Z collectors allocating an average of 26% of their wealth to art—the highest of any age group. Female collectors outspent men by 46% in 2024 and the first half of 2025, and 51% of collectors purchased digital artworks. Direct purchases from artists surged to 63%, up from 27% two years earlier, with 35% buying via Instagram links.

milton esterow artnews editor dead

Milton Esterow, the award-winning journalist who owned and edited ARTnews for 42 years, died on Friday at age 97. His death was confirmed by his daughter Judith Esterow, a former associate publisher of the magazine. Esterow purchased ARTnews in 1972 from Newsweek and transformed it into a news-focused powerhouse, winning a National Magazine Award and two George Polk Awards. He introduced the influential ARTnews Top 200 Collectors list in 1990 and was known for his relentless investigative journalism, particularly on Holocaust art restitution. He continued writing into his 90s, using his 1950 Royal typewriter.

art basel paris avant premiere initiative

Art Basel Paris has announced a new ultra-VIP preview program called "Avant Première" for its upcoming edition at the Grand Palais. Scheduled for Tuesday, October 21, from 3 p.m. to 7 p.m., the initiative allows all 203 participating galleries to invite select clients for an exclusive early viewing, ahead of the fair's official VIP days on October 22–23. The fair declined to disclose how many invitations each gallery can extend. The program was first reported by the Baer Faxt, and Art Basel CEO Noah Horowitz described it as "for the market, by the market."

fed reserve interest rate cuts art market loans

The Federal Reserve cut its benchmark interest rate by 0.25 percentage points, the first reduction since December, bringing rates to their lowest level since late 2022. Art finance experts Anita Heriot of the Fine Art Group and Joshua Greenberg of Bank of America Private Bank told ARTnews that while the cut is unlikely to create new art buyers, it could stimulate art lending and borrowing against collections, as lower rates reduce the cost of carrying debt. The move signals a potential trend of further rate declines, which may encourage collectors to reengage with the market, especially amid softening art prices.

art collection featuring snoop doggs smoked blunts fetches 148k at auction

Snoop Dogg's art collection, titled 'Ashes to Art,' sold for $148,100 at auction. The top lot, 'Snoop Doggy Dogg Genesis Burn,' featuring the rapper's signed and burned 1993 LAPD mugshot with a partially smoked blunt, fetched $70,000. Other works included 'DoggyStyle Decoded' with an original CD and joint tip, which sold for $16,500. The seven original pieces were created in collaboration with artist Erica Kovitz and coated in epoxy and marijuana resin.

senator john fetterman proposes bill to apply anti money laundering protections to us art market

On July 23, U.S. Senator John Fetterman introduced the Art Market Integrity Act, a bill that would apply anti-money laundering (AML) and counter-terrorism financing regulations to art dealers, auction houses, galleries, advisers, consultants, custodians, museums, collectors, and other intermediaries in the art market. The legislation amends the Bank Secrecy Act, requiring these entities to conduct client due diligence, maintain records, and report suspicious transactions. It exempts artists selling their own work, nonprofits, and businesses with under $50,000 in annual art transactions. The bill is co-sponsored by Senators Chuck Grassley, Sheldon Whitehouse, Bill Cassidy, Andy Kim, and David McCormick.

galileo 1 5 million sale auction record

A rare first edition of Galileo Galilei's 1605 publication *Dialogo de Cecco di Ronchitti da Bruzene in perpuosito de la stella Nuova* sold for £1.1 million ($1.5 million) at Christie's London's Valuable Books and Manuscripts sale on July 9, roughly double its presale estimate. The work, Galileo's first publication, has not appeared on the market in over a century, and only seven other complete copies are known, all held by institutions such as the Berlin State Library and All Souls College at Oxford University.

nathan myhrvold modernist cuisine

Nathan Myhrvold, the former Microsoft CTO, chef, author, and photographer, has released his first series of safari photographs taken in Africa. The collection, titled 'Resting Leopard' (2025) and 'The Young King' (2025), marks a shift from his meticulously staged food and beverage photography to wildlife portraiture. In an interview, Myhrvold discusses how the project reconnects with humanity's place in the natural world, contrasting the controlled environment of studio work with the unpredictability of photographing wild animals.

formula 1 memorabilia auction sothebys rm

RM Sotheby's is hosting an online auction titled "The Champions – Schumacher and F1 Legends" from July 24 to 30, featuring 280 lots of Formula 1 memorabilia. Highlights include a Cartier Automatic watch gifted by Enzo Ferrari to Fiat executive Gianni Agnelli in 1988, estimated at €10,000–€20,000, and over 150 lots related to Michael Schumacher, such as racing suits, helmets, and boots from his career. Other notable items include watches presented to Jean Todt and Michael Schumacher, as well as memorabilia from drivers like Lewis Hamilton, Ayrton Senna, and Fernando Alonso. A selection of 35 lots will be displayed at the Concours of Elegance in Tegernsee, Germany.

phillip hoffman ed dolman patti wong consultancy new perspectives

A group of high-profile art market veterans—Ed Dolman, Alex Dolman, Brett Gorvy, Philip Hoffman, and Patti Wong—have launched a new collaborative consultancy called New Perspectives Art Partners (NPAP). Unlike traditional advisory firms, NPAP operates on a flexible, project-based model where partners retain their existing roles and assemble only for high-level, specialized challenges. The consultancy aims to advise collectors, fiduciaries, and family offices on managing, growing, or dispersing significant collections, leveraging the partners' deep experience across auction houses, galleries, institutions, and advisory, with a global footprint spanning Hong Kong to Doha.

international art finance adam chinn nahmads

Adam Chinn, former chief operating officer at Sotheby's, has been quietly building International Art Finance (IAF), a boutique art lending firm backed by the billionaire Nahmad family. In a recent interview with ARTnews, Chinn revealed that IAF has disbursed nearly $400 million in loans and is on track to reach $500 million by the end of 2025. The firm offers short-term, non-recourse loans with an average size of $8 million, claiming an edge in speed and scale, with loans disbursed in as little as 10 days. The Nahmad family, prolific collectors and dealers, provides funding and conducts internal artwork valuations, a practice that has drawn scrutiny over potential conflicts of interest.

eu import regulations

The European Union's Regulation 2019/880, aimed at combating illicit trafficking and terrorism, will take effect on June 28, imposing stricter import controls on antiquities and artworks over 200 years old and valued above €18,000 ($19,500). The regulation requires importers to provide evidence that an object was lawfully exported from its country of origin, even for items exported decades ago when such documentation was not required. This reverses the presumption of innocence, placing the burden of proof on importers. Dealers and experts express concern that the rules are not based on market realities, as importers must be registered within the E.U., forcing non-E.U. dealers to rely on third-party agents or shippers. The regulation also poses challenges for ancient objects, where borders and export controls may be historically ambiguous.

the view from jonathan crockett

Jonathan Crockett, deputy chairman of Phillips in Asia, reflects on the auction house's 10-year journey in the region, from a small Hong Kong office to a major presence in the West Kowloon Cultural District. He recounts his career path from Christie's and Sotheby's to founding his own advisory firm, then joining Phillips to launch its Asian operations, overcoming brand confusion and building a robust client network.

napoleon sword could fetch 1 million auction

A ceremonial saber commissioned by Napoleon Bonaparte in 1802 sold for €4.6 million ($5.2 million) at Giquello auction house in Paris on May 22, far exceeding its estimate of €700,000–€1 million. The sword, made by master armorer Nicolas-Noël Boutet, was given to Marshal Emmanuel de Grouchy on the eve of the Battle of Waterloo in 1815 and remained in his family ever since. It features a curved Damascus blade, gold-plated silver mounts, and a stingray-skin sheath, with classical imagery including Medusa, Hercules, and Mars. The sale was part of a 20-lot auction at Hôtel Drouot that also included a 15th-century sword, a Gabonese mask, and a 17th-century tapestry.

asian art market

The Chinese art market experienced a 31% year-on-year decline in sales to $8.4 billion in 2024, its lowest level since 2009, according to the latest Art Basel and UBS Art Market Report. The downturn is attributed to slower economic growth, a property market slump, and broader economic uncertainties. However, other Asia Pacific markets showed resilience: Japan saw a 2% increase in sales, Australia's dealer market grew 11%, and China remains the second-largest auction market for postwar and contemporary art. Dealer sentiment is improving, with half expecting stronger sales in 2025.

gallery les bois claire julia hill

London-based Gallery Les Bois, founded in late 2024 by Claire-Julia Hill, is establishing itself as a pioneering force in sustainable contemporary art. The gallery features a diverse roster of artists who work with eco-conscious materials and techniques, such as transforming natural resources from impacted waterways into pigments and repurposing textile waste. In an interview, Hill discusses her background studying art history at Cambridge University, her inspiration to integrate sustainability into the art world, and the gallery's mission to champion artists who combine ecological responsibility with aesthetic excellence and conceptual rigor.

kaleidoscope a digital exhibition

Teravarna Art Gallery has launched a digital group exhibition titled "Kaleidoscope," featuring works by seven artists: Caitlin Accurso, Stephanie Bing, Diane Burchette-Gomez, Carina Imbrogno, Daniel Juric, Valeri Larko, and Debra Shapiro. The show, on view through May 16, 2025, spans figurative and abstract painting, collage, and mixed media, with highlights including Valeri Larko's photorealist "Secor Avenue Train Bridge" (2022) and Debra Shapiro's mixed-media piece "Las Tres Gracias" (2024). The exhibition is hosted entirely online, allowing global access.