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In a ‘K-shaped’ economy, the art market's recovery could rely on the super-rich

Sotheby's and Christie's held a series of high-profile auctions in New York in late 2025, generating a combined $2.2 billion from major collections including the Leonard A. Lauder collection, the Cindy and Jay Pritzker collection, and the Robert F. and Patricia G. Ross Weis collection. Star lots included Gustav Klimt's portrait of Elisabeth Lederer ($236.4m), a Vincent van Gogh still life ($62.7m), a Frida Kahlo self-portrait ($54.7m), and a Mark Rothko abstract ($62.2m). Despite these strong results, the total was still 30% below the equivalent sales in 2022, and the article notes a growing number of contemporary gallery closures in 2025.

Art market 2025 review: all eyes on the Gulf as Trump destabilises global order

The global art market continued to contract in 2025, with prominent galleries such as Blum, Clearing, Sperone Westwater, Tilton, Kasmin, TJ Boulting, Project Native Informant, Nir Altman, and Altman Siegel closing due to challenging macroeconomic conditions. However, a rebound emerged at the top end by autumn, driven by Sotheby's white-glove sale of the Pauline Karpidas collection, strong VVIP sales at Art Basel Paris, and New York's November auctions, where Klimt's *Portrait of Elisabeth Lederer* (1914-16) sold for $236.3 million and Frida Kahlo's *El Sueño (la cama)* (1940) for $54.7 million. Christie's and Sotheby's reported increased sales from 2024, with second-half auctions up 26% year-on-year, though recovery remains uneven and concentrated in classic secondary-market tastes.

Did Qatar’s Courbet acquisition short-circuit French export licence process?

Qatar Museums has acquired Gustave Courbet's early self-portrait *Le Désespéré* (1843-45) from a French collector for €50 million, bypassing the standard French export licence process. The Musée d'Orsay revealed the purchase at a private event in October, announcing the painting will be lent to the museum for five years before moving to Qatar's future Art Mill Museum (opening by 2030). The sale was conducted without an export certificate, with the justification that the work will remain in France for most of the time, using temporary export licences for exhibitions in Doha. Critics, including heritage campaigner Julien Lacaze, argue this exemption is being misused, as it was intended for one-off exhibitions, not recurring rotations.

Art Basel Miami Beach aims to ‘end the year on a high note’

Art Basel Miami Beach (ABMB) opens amid a still-sluggish global art market, with sales at live events yet to recover to pre-pandemic levels. Director Bridget Finn expresses optimism following strong sales at Art Basel Paris in October, noting that gallerists and collectors were energized. The fair introduces structural changes, including relocating the Nova and Positions sections to the east entrance to spotlight emerging galleries, and launching Zero 10, a platform for digital art. Seven local Miami galleries are participating, with Nina Johnson making her ABMB debut. Despite a few longtime exhibitors withdrawing, Finn attributes this to galleries being more selective across Art Basel's five global fairs, including a new Qatar edition in 2026.

The Red-Hot Market for South Asian Modernism Has a New Star

A 1989 painting by Bangladeshi modernist S.M. Sultan, titled *Untitled (Cultivation)*, sold for $50,800 at Christie’s New York on Wednesday, more than doubling its high estimate of $25,000 and setting a new auction record for the artist. The work was acquired by a South Asian institution. Sultan, who died in 1994, is known for his depictions of muscular peasants and has only 14 recorded auction results, with his previous record of $19,500 set just two months earlier at Sotheby’s.

Christie’s celebrates the late Syrian artist Marwan with non-selling London show

Christie’s is presenting a non-selling exhibition titled "Marwan: A Soul in Exile" at its London headquarters this summer, featuring over 150 works by the late Syrian artist Marwan (1934-2016). The show draws from major private and institutional collections including the Barjeel Art Foundation, the Ramzi and Saeda Dalloul Art Foundation, the Pinault Collection, and the Berlinische Galerie. This marks Christie’s third such non-selling exhibition of Arab art in London over the past three summers, following shows focused on Arab artists from the Barjeel collection and Saudi artist Ahmed Mater. The exhibition coincides with Christie’s 25th anniversary in the UAE and a broader surge in the Middle Eastern art market, including a recent white-glove sale for its online Modern and contemporary Middle Eastern art auction in Dubai.

Ahead of new fair in 2026, Qatar takes centre stage at Art Basel

Qatar is making a major push at Art Basel this week, highlighted by the announcement of Art Basel Qatar, a new fair launching in February 2026. Models of upcoming cultural venues, including the Herzog & de Meuron-designed Lusail Museum, are on display in the Collectors Lounge, while Qatar Airways has announced a global partnership with Art Basel. Sheikha Al-Mayassa bint Hamad bin Khalifa Al Thani made a rare public appearance, speaking on a panel about the country's cultural ambitions and the role of art in addressing post-colonial identity and conflict.

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Art Market Auctions Recovered Late 2025, But Not A "Comeback" – Citi Wealth

Citi Wealth's report, "State of the Art Market 2026: Don’t Call It A Comeback," finds that the global art market entered 2026 with renewed optimism, but confidence is highly selective and concentrated at the high and accessible ends. The November 2025 Modern and Contemporary Art auctions in New York surged 77% year-on-year to $2.2 billion, driven by the record-breaking $236.4 million sale of Gustav Klimt's *Portrait of Elisabeth Lederer* from the Leonard Lauder collection. However, numerous galleries closed in 2025, including BLUM gallery and Venus Over Manhattan, and traditional hubs like London and New York face slow growth while emerging regions gain influence.

Full extent of Stephen Friedman Gallery's £7.8m debt revealed in filings

Administrators' filings for Stephen Friedman Gallery reveal a total debt of £7.8 million following its closure in February. Three prominent artists—Alexandre Diop, Deborah Roberts, and Kehinde Wiley—are among the unsecured creditors owed a combined £795,000, expected to recover only eight to nine pence per pound. The largest secured creditor is Coutts & Company, owed £3.1 million, followed by Pentland Group with £1.4 million outstanding. The gallery also owes £505,113 to the Pollen Estate for its Cork Street lease, £550,000 to HMRC, and significant sums to shipping and storage firms, including Crozier (£256,470) and Gander & White (£86,772). Art fairs Frieze and Art Basel Qatar are owed £71,227 and £18,763 respectively.

Aiza Ahmed: ‘I’m finding ways to explore humanity’

Interdisciplinary artist Aiza Ahmed is presenting a solo exhibition of new paintings and woodcut sculptures with New York gallery Sargent's Daughters at the inaugural Art Basel Qatar. The 28-year-old, who splits her time between residencies in Doha and New York, uses the theatrical Wagah-Attari border ceremony between India and Pakistan as a central subject to explore identity, nationalism, and power dynamics.

Are we seeing the demise of statement stands at art fairs?

The era of the 'statement stand' at international art fairs is rapidly declining as galleries shift away from immersive, high-risk installations in favor of more conservative group presentations. Rising participation costs, the sheer volume of the global fair calendar, and the financial pressure to recoup expenses have made experimental booths like those once championed by Jeffrey Deitch or Gavin Brown an endangered species.

Photomontage of Israel bombing Gaza will go on show at Art Basel Qatar

Pakistani artist Rashid Rana's photomontage 'Black Square (2025)' will be presented at the inaugural Art Basel Qatar fair. The work, composed of hundreds of stills from a Gaza CCTV camera, depicts a night of Israeli bombardment and is priced at $30,000, with all proceeds directed to Gaza relief funds. It is being shown by Mumbai gallery Chemould Prescott Road.

9 Up-And-Coming Gallerists Chart the Path To—and Beyond—Showing at Art Basel Miami Beach

Nine emerging galleries from around the world are showing in the Positions sector of Art Basel Miami Beach 2025, a dedicated platform for up-and-coming exhibitors. The article profiles several of these gallerists, including Allann Seabra and Ian Duarte of Verve in São Paulo, and Mauricio Aguirre of N.A.S.A.L. in Mexico City and Guayaquil. They discuss their gallery's growth, key milestones such as artists participating in the 36th Bienal de São Paulo, and their hopes for gaining international exposure and deepening understanding of their local art scenes.

Stephen Friedman to close New York gallery, two years after opening the Tribeca space

Stephen Friedman, the Canadian-born, London-based dealer, will close his New York gallery in Tribeca at the end of February 2026, less than three years after opening the space in October 2023. The decision is described as a strategic evolution to consolidate operations in London, where several new directors have been hired. The gallery's artist roster will remain unchanged, and Friedman plans to stay active in the US art scene through major fairs. The closure follows a challenging period marked by a £1.7m loss in 2023 due to renovation costs and a downturn in the art market, with cash flow currently tight after slow exhibition sales.

culture discount young adult tickets nyc

New York City offers a wide range of discounted tickets and memberships for young adults at major cultural institutions, including museums, performing arts venues, and theaters. Programs like the Whitney Museum's Free 25 and Under Anytime Pass, the Shed's $25 under-30 tickets, and the Metropolitan Opera's under-40 Friday deals aim to make high-quality cultural experiences more affordable for younger audiences.

Qatar Pavilion Announces Artists for 2026 Venice Biennale

The Qatar Pavilion has unveiled its artist lineup and conceptual framework for the 61st Venice Biennale in 2026. Titled "untitled 2026 (a gathering of remarkable people)," the exhibition will feature a collaborative presentation centered around a tent-like structure designed by Rirkrit Tiravanija. The pavilion will include a film by Sophia Al-Maria, a large-scale sculpture by Alia Farid, sound performances by Tarek Atoui, and a culinary program curated by chef Fadi Kattan, all hosted within a temporary site in the Giardini designed by architect Lina Ghotmeh.

south africa venice biennale court

South Africa's culture minister Gayton McKenzie canceled artist Gabrielle Goliath's selected presentation for the country's national pavilion at the 2026 Venice Biennale, prompting Goliath and curator Ingrid Masondo to file a constitutional court challenge on January 22. The artist's work, *Elegy*, commemorates victims of injustice including women, queer people, and victims of the Herero and Nama genocide, and was to address deaths of Gazan women and children since October 2023. McKenzie described the work as "highly divisive" and canceled the exhibition on January 2, despite an independent committee's binding selection. The minister now plans to replace it with a project by the collective Beyond the Frames titled "Shameless Rebellions: a South African Chorus."

gabrielle goliath legal action south africa venice pavilion

Artist Gabrielle Goliath and curator Ingrid Masondo are filing a court case against South African culture minister Gayton McKenzie after he canceled their planned pavilion for the Venice Biennale. McKenzie objected to a performance from Goliath's "Elegy" series that would address Israel’s war in Gaza, calling it "polarizing," a move Goliath described as censorship. McKenzie later attributed the cancellation to alleged interference by an unnamed foreign nation, with reports suggesting Qatar was involved, though the Qatar Museums ultimately did not purchase the work. The application, to be filed in the South African high court in Pretoria, seeks to have McKenzie's actions declared unconstitutional.

south africa venice biennale investigation

South Africa withdrew its national pavilion from the Venice Biennale after Culture Minister Gayton McKenzie claimed a foreign power attempted to purchase artist Gabriele Goliath's work *Elegy*, which addresses femicide, anti-queer violence, the war in Gaza, and Germany's colonial genocide in Namibia. McKenzie deemed the financial interest a use of "proxy power." New reporting from Daily Maverick reveals that the alleged foreign party was Qatar Museums, a state-owned network, which had expressed interest in acquiring the work but never committed to a purchase. The minister's decision has sparked political backlash, with South Africa's public protector processing a formal complaint against McKenzie, and Goliath's team accusing him of censorship and deflection.

qatar museums gabrielle goliath venice biennale pavilion

Gabrielle Goliath's planned South African pavilion at the Venice Biennale was abruptly canceled by South African culture minister Gayton McKenzie. McKenzie claimed the cancellation was not due to the pavilion's focus on Israel's war in Gaza, but because a foreign nation attempted to purchase the work after the show. The Daily Maverick reported that the foreign entity was actually Qatar Museums, which had expressed interest in acquiring a video recording of Goliath's performance piece 'Elegy,' which addressed violence against women and queer people in South Africa and a genocide in Namibia. McKenzie's statement contradicted earlier reports that he had privately called the pavilion 'polarizing.'

south africa pavilion venice biennale cancelation qatar

South Africa has canceled its pavilion at the Venice Biennale, which was to feature a performance by artist Gabrielle Goliath addressing the killings of women and queer people in South Africa, a German-led genocide in Namibia, and Israel’s war in Gaza. The performance would have included readings of poetry by Palestinian poet Hiba Abu Nada, who was killed in an Israeli airstrike in 2023. South African Culture Minister Gayton McKenzie blamed an unidentified foreign nation for seeking to use the pavilion for "proxy power," and Israeli publication Ynetnews reported that nation is Qatar. McKenzie denied censorship, claiming a rift with the nonprofit Art Periodic South Africa over a foreign nation's offer to purchase artworks after the Biennale.

photojournalist wins world press photo award for image of gazan boy mutilatated by israeli airstrike

Palestinian photojournalist Samar Abu Elouf has won the 2025 World Press Photo award for her image of Mahmoud Ajjour, a 9-year-old Gazan boy whose arms were mutilated by an Israeli airstrike. The photo, taken for the New York Times, was honored at a ceremony in Amsterdam. Abu Elouf, herself from Gaza and now living in Qatar, captured the boy in a shaft of sunlight that gives the image the quality of a classical bust. The award, now in its 70th year, drew nearly 60,000 entries from 4,000 photographers across 141 countries.

israeli airstrike doha qatar risk of planning art basel fair

On Tuesday, Israel carried out a missile strike in Doha, Qatar, targeting senior Hamas leaders, with explosions reported in the Leqtaifiya neighborhood and smoke visible over the Katara cultural district. The strike comes as a shock to Qatar, which has built a reputation for stability and is home to major art institutions operated by Qatar Museums, including Mathaf: Arab Museum of Modern Art, the National Museum of Qatar, and the Museum of Islamic Art. Art Basel, which announced in May a partnership with Qatar Sports Investments and QC+ to launch Art Basel Doha in February 2026, said it is closely monitoring developments and remains committed to the fair's inaugural edition.

Venice, Sydney, Gwangju: the most interesting biennials to visit in 2026

The article previews several major biennials scheduled for 2026, including the 61st Venice Biennale, the 25th Sydney Biennale, and the 16th Gwangju Biennale. The Venice Biennale will proceed posthumously under the vision of curator Koyo Kouoh, who died in May 2025; she was the first African woman appointed to curate the event. The Sydney Biennale, themed "Rememory" and inspired by Toni Morrison, will be directed by Hoor Al Qasimi, while the Gwangju Biennale will be led by Singaporean artist Ho Tzu Nyen, focusing on collective artistic responses to global crises.

Lina Ghotmeh: ‘Museums should go beyond conservation to foster exchange, reflection and critical thinking’

In February 2025, Beirut-born, Paris-based architect Lina Ghotmeh won the competition to oversee the remodelling of the Western Range of the British Museum, a series of galleries comprising one-third of the historic London institution. Her project team includes conservation specialists Purcell and engineers Arup. Ghotmeh, known for her human-centred, sustainable approach and her 'archaeology of the future' methodology, has previously designed the Stone Garden tower in Beirut and the 2023 Serpentine Pavilion in London. She also holds commissions for a contemporary art museum in AlUla, Saudi Arabia, a Venice Biennale pavilion for Qatar, and the Bahrain Pavilion for Expo 2025 Osaka.

Frieze to launch Abu Dhabi edition in November 2026

Frieze has announced it will launch an Abu Dhabi edition in November 2026, marking its first fair in the Middle East and its eighth global event. The fair will take over the existing Abu Dhabi Art fair through a partnership with the Abu Dhabi Department of Culture and Tourism (DCT), and will be held at Manarat Al Saadiyat in the Saadiyat Cultural District. Dyala Nusseibeh will remain as director. The announcement comes as Frieze's rival Art Basel prepares to launch its own Middle East fair in Doha, Qatar, in February 2025, and follows the recent acquisition of Frieze by Hollywood tycoon Ari Emanuel via his holding company Mari, which has financial ties to Abu Dhabi-based investors.

The legacy of the Baghdad Modern Art Group is explored in first major US show

The Hessel Museum of Art at Bard College in New York State has opened "All Manner of Experiments: Legacies of the Baghdad Modern Art Group," the first major US survey of the influential Iraqi collective. Organized by curators Nada Shabout, Tiffany Floyd, and Lauren Cornell, the exhibition brings together 64 works by 30 artists—including Dia al-Azzawi, Jewad Selim, and Mohammed Ghani Hikmat—spanning from 1951 to 2023. Many pieces have not been publicly displayed in decades, and the show draws from private collections and major Arab institutions such as the Barjeel Art Foundation, the Dalloul Art Foundation, the Ibrahimi Collection, and Qatar Museums. The exhibition also addresses the devastating loss of modern Iraqi art during the Iraq War, with an estimated 85% of 8,000 works from the Saddam Arts Centre looted or damaged.

Hong Kong’s first major Islamic art exhibition set to open at Palace Museum

Hong Kong’s Palace Museum will open its first major Islamic art exhibition on Wednesday, featuring 90 works from the Museum of Islamic Art in Doha, including carpets, ceramics, and manuscripts dating from the 10th to the 19th centuries. The show, titled “Wonders of Imperial Carpets: Masterpieces from the Museum of Islamic Art, Doha,” marks the Qatari institution’s debut in the city and includes treasures such as the 17th-century “Kevorkian Hyderabad carpet.”

A Gerhard Richter pavilion and a new creative visa—Qatar’s Sheikha al-Mayassa reveals future plans

Sheikha al-Mayassa, chair of Qatar Museums and a leading collector, revealed significant cultural initiatives during a talk at the inaugural Art Basel Qatar fair. She announced a new "creative visa" to attract artists, with Egyptian artist Wael Shawky as the first recipient, and confirmed a Gerhard Richter pavilion will open in November as part of the Rubaiya Qatar quadrennial. She also highlighted upcoming institutions like the Art Mill museum and the Lusail Museum.