records fall during 706 million night at sothebys turbocharged by blue chip lauder trove 2714943

Sotheby's achieved a record-breaking $706 million auction night at its new global headquarters in the Breuer Building, New York, the highest total in the auction house's 281-year history. The sale was propelled by the collection of late art patron Leonard A. Lauder, whose 24 pieces sold for $527.5 million, led by Gustav Klimt's *Portrait of Elisabeth Lederer* (1914–16) which fetched $236.4 million, becoming the second-priciest artwork ever sold at auction. A subsequent contemporary and ultra-contemporary art sale added $178.5 million.

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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.

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The New York Botanical Garden (NYBG) has announced that artist KAWS (Brian Donnelly) will take over its 250-acre landscape in 2027 with a large-scale, unnamed exhibition featuring his iconic sculptures such as Companion, BFF, and Chum. The show follows the model of NYBG's 2021 "Cosmic Infinity" exhibition by Yayoi Kusama, which drew around 845,000 visitors. The announcement also coincides with NYBG's current "Van Gogh's Flowers" display and a planned 2026 orchid show by Mr. Flower Fantastic.

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The Van Gogh Museum has acquired Henri Matisse's 1905 painting *Olive Grove in Collioure* to illustrate Vincent van Gogh's influence on modern art. The work, painted 15 years after Van Gogh's death, shows Matisse's adoption of van Gogh's expressive, anti-naturalistic color and brushwork. The museum pairs it with van Gogh's *Trees in the Garden of the Asylum* (1889) to highlight how Matisse transformed van Gogh's reed-pen drawing techniques into his own Fauvist style. Matisse first encountered van Gogh's work in 1897 through Australian painter John Russell, who gave him a van Gogh drawing that Matisse hung in his Paris apartment alongside works by Cézanne and Gauguin.

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Carroll Dunham, a leading painter known for his psychologically charged works, has joined the fast-rising Matthew Brown gallery, which has locations in Los Angeles and New York. Dunham, 75, left Gladstone Gallery after nearly 20 years, citing a desire for change. His first solo show with Brown is scheduled for September 2026 in Tribeca. Dunham will continue to be represented by several established dealers including Galerie Max Hetzler, Blum, Eva Presenhuber, and Gerhardsen Gerner.

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Sotheby's London modern and contemporary evening sale brought in $85.7 million, down from $105 million last year, with highlights including a $10 million Tamara de Lempicka and a record $9.6 million auction result for Jenny Saville's drawing 'Mirror'. In other market news, a crowdfunding campaign raised over £100,000 to help Bristol Museum acquire a rediscovered J.M.W. Turner painting, and a Tiffany Studio window sold for $4.2 million at Christie's. Galleries announced new representation deals: James Cohan now represents Ranti Bam, Maruani Mercier represents Kate Gottgens, and Yancey Richardson represents Karen Gunderson; Ronchini gallery is moving to a new Mayfair location. Tate launched a £150 million endowment fund, the Louvre announced an international architectural competition to address overcrowding, the Uffizi imposed selfie restrictions after a tourist damaged a painting, the Cleveland Museum of Art acquired a rare Giambologna marble, and Italy's culture minister pledged support for the return of the Parthenon Marbles to Greece.

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Artnet News's Wet Paint column announces Brian Belott's upcoming exhibition "Upside Down Zebra" at the Watermill Center in Water Mill, Hamptons, opening next week. The show features over 400 artworks made by children under age 6, including offspring of Willem de Kooning and Henry Miller, alongside 40 response pieces by contemporary artists like Robert Nava, Chris Martin, Darren Bader, Katherine Bernhardt, Carroll Dunham, and Christopher Wool. Belott draws from the archive of educator and psychologist Rhoda Kellogg, who collected over two million children's drawings, organizing works by her 20 types of scribbles.

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Leonard A. Lauder, the billionaire art collector, philanthropist, and cosmetics magnate, has died at age 92. Lauder helped grow his mother Estée Lauder's namesake business into a global cosmetics empire, serving as president, CEO, and chairman. He was also one of the most significant art philanthropists of his era, donating a Cubist art collection valued at over $1 billion—including 78 works by Picasso, Braque, Léger, and Gris—to the Metropolitan Museum of Art in 2014, later expanded with additional works and funding for the Leonard A. Lauder Research Center for Modern Art. He also made the largest gift in Whitney Museum history in 2008, worth $131 million, and amassed a collection of 130,000 historic postcards promised to the Museum of Fine Arts, Boston.

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Art Basel returns to its Swiss namesake city from June 19 to 22, with VIP previews on June 17 and 18. The article recommends stepping outside the fair to explore top-tier exhibitions across Basel, including Ernst Ludwig Kirchner's rediscovered painting 'Tanz im Varieté' (1911) at Kunstmuseum Basel, a major survey of Medardo Rosso at the same museum, and a solo show by Thomas Ott at Cartoonmuseum Basel. It also highlights Clearing gallery's off-site project 'Maison Clearing' in a private house with works by over 40 artists.

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The private collection of legendary collector and patron Pauline Karpidas, featuring masterworks by Salvador Dalí, René Magritte, and Les Lalannes, will be auctioned at Sotheby’s London this September. Spanning 250 lots from her eccentric London home, the collection is expected to fetch over £60 million ($81 million), the highest estimate ever placed on a single collection at Sotheby’s Europe. Karpidas, who has collected for 50 years and supported artists like Damien Hirst and Tracy Emin, sees herself as a temporary custodian and is passing the works to a new generation.

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Kat O’Neill and Andrea McCafferty, founders of the White Room Gallery, moved their business from Bridgehampton to East Hampton in late 2023. The gallery, known for showcasing contemporary art from Pop icons like Andy Warhol to street artists like Banksy, has a busy exhibition calendar year-round, with summer being especially active. Ahead of peak season, O’Neill and McCafferty discussed upcoming shows including “La Femme,” “Every Picture Tells A Story,” and solo exhibits by Nelson De La Nuez and Russell Young, as well as the gallery’s integration into the East Hampton community.

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Frieze has announced over 280 exhibitors for its October fairs in London, with around 160 galleries at Frieze London and 120 at Frieze Masters, running concurrently in Regent's Park from October 15 to 19. In auction news, the original Hermès Birkin bag prototype will be sold at Sotheby's Paris on July 10, and Bonhams has appointed Celine Assimon as chief commercial officer. Galleries saw significant moves: Christian Deydier in Paris is closing due to new EU regulations on imported cultural objects, while Carroll Dunham joined Matthew Brown, Cristina Iglesias signed with Hauser and Wirth, and several other artists changed representation. Meanwhile, Tate Liverpool received £12 million in UK government funding plus philanthropic support for its redevelopment, the Royal Academy of Arts named Simon Wallis as its new secretary and chief executive, and the Whitney Museum suspended its Independent Study Program for a year after controversy over censorship of a pro-Palestine performance. The Robert Rauschenberg Foundation made three new appointments, and the Académie de la Grande Chaumière in Paris faces eviction.

forget blue chip art its a red chip art world now 2607301

The article introduces and defines the concept of "red-chip art," a new category of art collecting that rejects traditional art-historical reverence in favor of aesthetics rooted in street art, graffiti, super-flat cartoons, multi-colored chrome, and crypto culture. It describes red-chip collectors as mysteriously affluent millennials, techies, hip-hop visionaries, and crypto aspirants who gravitate toward artworks that resemble toys, limited-edition dolls, NFTs, and memecoins, often consumed at venues like the Eden Fine Art gallery at the Wynn in Las Vegas or parties during Art Basel Miami Beach. Key artists associated with this movement include KAWS, George Condo, Virgil Abloh, Tom Sachs, Alex Israel, Damien Hirst, Harmony Korine, Yoshitomo Nara, and Banksy, with Jeff Koons and Takashi Murakami seen as transitional "purple chip" figures.

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Frieze Seoul returns for its fourth edition at Coex from September 3 to 6 with 120 galleries, maintaining last year's scale. Asian galleries now represent 64 percent of exhibitors, up from 48 percent, signaling a stronger regional identity. Notable non-returning galleries include Blum, Karma, and Neugerriemschneider. Meanwhile, Kiaf Seoul will run concurrently with 176 exhibitors, and Art021 Group suspended its 2025 Hong Kong show after a single edition. Gallery Weekend Beijing concluded its ninth edition with a new invitation-only model, and several Asian-rooted artists are featured in London Gallery Weekend. New institutions opened, including the Photography Seoul Museum of Art and the Naoshima New Museum of Art, while the inaugural Bukhara Biennial program was announced.

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This week's art industry roundup covers major personnel shifts, fair announcements, and institutional news. Phillips named Robert Manley chairman for Modern and contemporary art and Miety Heiden chairman for private sales after the departures of Cheyenne Westphal and Jean-Paul Engelen. Art Basel Paris announced 203 galleries for its October fair at the Grand Palais, while Kiaf Seoul will host 176 exhibitors in September. Tony Karman is stepping down as director of Expo Chicago after 14 years. Pace Gallery added Friedrich Kunath, Galerie Nordenhake signed Naufus Ramírez-Figueroa, and Sylvia Kouvali now represents Luigi Zuccheri. Ariel Pittman is launching a new Los Angeles gallery, Official Welcome. The Louvre will return 258 works from Adèle de Rothschild's bequest to the Fondation des Artistes. President Trump dismissed Smithsonian National Portrait Gallery director Kim Sajet over DEI support, though his authority is questioned. The Centre Pompidou announced a new $240 million outpost in Brazil. The Art Institute of Chicago confirmed director James Rondeau will return after a flight incident. The Pérez Art Museum Miami appointed Karen H. Bechtel as board president. Frieze and Deutsche Bank detailed their 2025 Emerging Curators Fellowship. A rare Gustav Klimt portrait of an African prince was offered for €15 million.

hot lots and top flops 6 artworks that had shocking results at the marquee may auctions 2646787

Artnet News analyzed six standout lots from the marquee May auctions at Christie's and Phillips, highlighting both surprising successes and failures. Among the 'hot lots,' Mark Tansey's study for "The Enunciation" (1992–93) sold for $3.2 million at Christie's—over ten times its low estimate—while Henri Matisse's tiny portrait "Henriette, robe jaune" (1923) fetched $1.4 million, nearly quadrupling expectations. Firelei Báez's "Untitled" (2017) also soared, selling for $381,000 at Phillips, more than triple its high estimate. The article contrasts these with 'top flops,' though the provided text focuses on the successes.

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The article reports on the Museum of Modern Art's retrospective "Jack Whitten: The Messenger," which runs through August 2 and features 175 works including paintings, sculpture, and archival materials. Curator Michelle Kuo describes Whitten's "endless innovation," noting that art handlers were astonished by his pioneering techniques. Whitten, who died in 2018 at age 78, moved from Alabama to New York in 1960, attended Cooper Union, and was influenced by jazz and figures like Willem de Kooning and Romare Bearden. The article also examines Whitten's art market, highlighting his auction record of $2.66 million for "Special Checking" (1974) at Sotheby's in 2019, and noting that while prices are rising, his work remains undervalued compared to peers like Gerhard Richter.

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This edition of State of Play, part of Artnet Pro's Asia Pivot newsletter, reports on recent developments across Asia's art world. Taipei Dangdai Art and Ideas and Art Busan both concluded with slower sales and reduced attendance, citing economic and geopolitical uncertainty. Meanwhile, Art Basel announced a new fair in Doha for February 2026, and more Asian galleries are opening spaces in New York. In institutional news, philanthropist Yan Du is launching Yan Du Projects in London, the Simose Art Museum in Japan is hosting its first contemporary exhibition, and the Smithsonian's National Museum of Asian Art has repatriated looted Zidanku Silk Manuscripts to China.

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Kenny Schachter's article for Artnet News draws a parallel between President Jimmy Carter's 1977 energy-crisis plea to lower thermostats and the current art-market response to Trump-era tariff turmoil. He reports that the spring 2025 auction cycle generated $1.25 billion, continuing a decade-long decline from the 2014 peak, with bidders spending less and big-ticket sellers stuck. Schachter also promotes his own no-reserve auction, "Hoarder #6," scheduled for July 8–17 at Phillips, and critiques Trump's economic policies and crypto ventures, name-dropping Justin Sun as a major holder of $Trump tokens.

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The 2025 Met Gala, officially the Costume Institute Benefit, was held at the Metropolitan Museum of Art, launching the exhibition “Superfine: Tailoring Black Style.” The event drew a star-studded guest list, with celebrities channeling the theme of Black dandyism through tailored silhouettes, bold patterns, and luxurious fabrics. Several attendees, including Cardi B, Alicia Keys and Swizz Beatz, Colman Domingo, and Janelle Monáe, wore outfits that directly referenced specific artworks, such as Dante Gabriel Rossetti’s *Veronica Veronese*, Frank Stella’s *Rectangular Orange Painting with Diagonal Pattern*, and Hyacinthe Rigaud’s portrait of Louis XIV.

Filthy fossil fuels, a dizzying debut and the ominous side of the moon – the week in art

The Guardian’s weekly art roundup highlights the opening of 'Extraction' at Jupiter Artland, an exhibition featuring artists like Marguerite Humeau and John Gerrard that explores the environmental impact of fossil fuels. Other notable UK openings include Michaela Yearwood-Dan’s museum debut at The Whitworth, a survey of Paula Rego’s drawings at Victoria Miro, and a showcase of Thérèse Oulton’s textured landscapes at Vardaxoglou.

Megamurals, Guerrilla Girls and something rotten in the Oval Office – the week in art

The Guardian's weekly art roundup highlights several exhibitions, including Wilhelm Sasnal's politically charged paintings at Sadie Coles HQ in London, a Joan Eardley retrospective in Edinburgh, and a Guerrilla Girls show in East Sussex. It also reports on Art UK's digitization of over 6,700 UK murals, the theft of Impressionist paintings from an Italian museum, and the discovery of a stolen ancient gold helmet.

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Christie’s postwar and contemporary art day sale in London on Thursday totaled £12.2 million ($16.4 million), with over 80% of lots sold and 90% of those achieving prices within or above their presale estimates. Standout results included a 2020 painting by Somaya Critchlow selling for £57,150 (est. £15,000–£20,000), a small Etel Adnan painting going for £107,950 (est. £30,000–£50,000), and a Michelangelo Pistoletto mirror piece fetching £234,950—seven times its estimate. However, a Toyin Ojih Odutola painting and a Gerhard Richter gray painting failed to sell, reflecting a selective market.

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.

Dealers at TEFAF Maastricht Report Robust Sales, Offering Works Ranging from Two Inches to Room-Size

Dealers at TEFAF Maastricht Report Robust Sales, Offering Works Ranging from Two Inches to Room-Size

Dealers at the TEFAF Maastricht art fair reported strong sales, defying concerns over global unrest and geopolitical tensions that limited some collectors' travel. The fair, featuring 277 dealers from 24 countries, saw a high caliber of international collectors engaging with works ranging from monumental 18th-century sculptures to minuscule, intricately detailed pieces. First-time exhibitors and veterans alike expressed satisfaction, with one rare books dealer calling it his best year in three decades of participation.

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Art Basel has appointed artist Wael Shawky as the artistic director of its upcoming fair in Doha, Qatar, scheduled to open in February. This marks a departure from the company's usual practice of selecting directors from the commercial art world. Shawky, who represented Egypt at the Venice Biennale and has had solo exhibitions at Tate Modern and MoMA PS1, will curate around 50 single-artist presentations across two venues, M7 and the Doha Design District, with equal pricing for exhibitors initially. A selection committee including dealers from international and regional galleries will assist in choosing participants.

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This week's art industry news covers significant developments across fairs, auctions, galleries, and museums. Frieze New York announces its 15th edition with a strong Latin American gallery presence, while the India Art Fair reports robust sales, including works by Atul Dodiya and N.S. Harsha fetching up to $600,000. Sotheby's will offer a major Francis Bacon self-portrait from the collection of Joe Lewis, and Christie's is set to sell three masterpieces from Agnes Gund's collection, estimated at over $123 million. Gallery news includes Federica Beretta's return to Opera Gallery and David Zwirner's new representation of painter Louis Fratino.

Agosto Machado, Artist and Activist Whose Shrine Sculptures Kept Queer History Alive, Has Died

Agosto Machado, an artist and activist central to New York's Downtown scene and a participant in the 1969 Stonewall uprising, has died following a brief illness. His gallery, Gordon Robichaux, announced his passing but, respecting his wishes, did not disclose his age. Machado was known for creating intricate shrine sculptures from collected ephemera to honor figures from his community, and one of these altars is currently featured in the 2024 Whitney Biennial.

Melvin Edwards, pioneer of Black abstraction, 1937–2026

Melvin Edwards, a pioneering sculptor known for his steel assemblages that explored Black history and experience, has died. He was the first African-American artist to have a solo exhibition at the Whitney Museum of American Art in New York in 1970. His signature series, Lynch Fragments, began in the 1960s as a response to the civil rights movement and evolved over his lifetime to incorporate references to the Vietnam War and African cultural practices.

Van Gogh Museum Acquires Only Third Painting by a Female Artist at TEFAF

Van Gogh Museum Acquires Only Third Painting by a Female Artist at TEFAF

The Van Gogh Museum in Amsterdam has acquired Virginie Demont-Breton's 1887-88 painting *L'homme est en mer* at the TEFAF Maastricht fair. The work, depicting a woman and child awaiting a sailor's return, becomes only the third painting by a female artist in the museum's collection and was purchased for a sum between $543,000 and $1.1 million.