hong kong adrian cheng web3 blockchain immersive experiences

Adrian Cheng, the mega-collector and regular on ARTnews' Top 200 Collectors list, has announced his new venture ALMAD Group after resigning as CEO of his family's Hong Kong property firm New World Development Co. (NWD) last year. The company will focus on digital assets, blockchain technologies, and immersive digital experiences across entertainment, sports, and media in mainland China, Southeast Asia, and the Middle East. ALMAD has absorbed Cheng's art-meets-commerce platform K11 by AC, which includes the K11 Craft and Guild Foundation, the K11 Art Foundation, and the K11 Art Malls that pair luxury retail with exhibitions by artists like Damien Hirst and Takashi Murakami.

christies kawamura memorial dic museum art monet renoir

Christie’s has been consigned to sell works from the collection of the Kawamura Memorial DIC Museum of Art, including pieces by Claude Monet, Pierre-Auguste Renoir, Marc Chagall, Henri Matisse, and Henry Moore, as part of its fall marquee auctions. A top highlight is Monet’s oil painting *Nymphéas* (1907) with a low estimate of $40 million. The museum, located in Sakura, Japan, and owned by the DIC Corporation, decided last December to downsize and relocate, selling 75 percent of its 384 artworks valued at $77.5 million. The sale includes eight works in Christie’s 20th Century Evening Sale in November, with additional pieces in day sales for Impressionist and Modern Art as well as Post-War and Contemporary Art.

banksy piranhas london museum

A Banksy mural featuring a fish tank full of piranhas, installed overnight on a police sentry box in London's financial district in August 2024, has been acquired by the London Museum. The work was one of nine animal-themed pieces the artist created across the capital over nine consecutive days. After being removed by the City of London Corporation, the booth was displayed at Guildhall Yard and then placed in storage; it will go on permanent view in 2026 at the London Museum's new Smithfield location, part of a $280 million relocation project.

justin sun maurizio cattelan comedian bloomberg news lawsuit

Justin Sun, the billionaire founder of TRON and buyer of Maurizio Cattelan's "Comedian," filed a lawsuit against Bloomberg LP and Bloomberg Inc. on August 11 in the U.S. District Court in Delaware. He seeks a temporary restraining order and injunctions to prevent Bloomberg from publishing his highly confidential financial information, including specific cryptocurrency holdings, which he claims would cause irreparable harm, risk of theft, hacking, and physical danger to him and his family. Bloomberg's attorney argued the application is moot because the article had already been published hours before Sun's lawyers gave notice. The Bloomberg profile estimated Sun's net worth at $12.4 billion, detailing his ownership of over 60 billion Tronix, 17,000 Bitcoin, 224,000 Ether, and 700,000 Tether.

philip falcone blce art loans picasso hirst ruling

The New York Supreme Court ruled against former hedge fund manager Philip Falcone in a case brought against pawnbroker BLCE over loans secured by artworks and a diamond ring. Judge Lyle E. Frank sided with BLCE's counter-claims of fraud and breach of contract, finding that Falcone made misrepresentations when securing loans with the same artworks—including pieces by Pablo Picasso, Damien Hirst, and Richard Prince—from multiple lenders. Falcone had claimed the ring was "wrongfully foreclosed," but the court determined he failed to raise genuine issues of material fact.

rare m c escher works auction

A cache of M.C. Escher drawings and prints, created during his time in Italy and later, fetched a stunning total of $7.8 million at Christie’s on July 22, quadrupling its low presale estimate. The auction, titled 'The Art of Infinity,' featured 65 lots, with nearly every work on paper surpassing the previous record for an Escher work in the medium. The top lot, *Reptiles* (ca. 1943), sold for $529,200—five times its low estimate—while *Relativity* (ca. 1953) achieved $504,000, ten times its low estimate. The sale largely came from the collection of Robert Owen Lehman Jr., a documentary filmmaker and member of the Lehman banking family.

sean combs diddy may lose kerry james marshall painting

Sean Combs, also known as Diddy, may lose a prized Kerry James Marshall painting, *Past Times* (1997), among other assets if found guilty of sex trafficking charges, which he has denied. The painting was purchased at Sotheby's in 2018 for $21.1 million, setting an auction record for Marshall. Reports indicate Combs had been actively collecting art since 2014 with adviser Maria Brito, but with multiple civil suits pending, speculation has grown that he might be forced to sell.

kenneth griffin lends us constitution to the national constitution center

Billionaire Citadel CEO and art collector Ken Griffin has announced he will lend his rare copy of the U.S. Constitution to the National Constitution Center (NCC) in Philadelphia for public display through 2026. The loan is accompanied by a $15 million gift—the largest single donation in the NCC’s history—which will fund two new galleries focused on America’s founding principles and the separation of powers, both slated to open in 2026. Griffin will also loan a first printing of the 17 proposed constitutional amendments from 1789, ten of which became the Bill of Rights. In recognition, the NCC will rename its central hall the Kenneth C. Griffin Great Hall.

christies riggio modern art new york evening auctions 2025

Christie’s spring marquee auctions in New York brought in a combined $489 million with fees across two evening sales: the Leonard & Louise Riggio: Collected Works sale and the 20th Century sale. The Riggio collection, featuring 39 works heavy on Surrealism, modernism, and Minimalism, achieved $272 million with buyer’s premium, led by Piet Mondrian’s Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue (1922) at $47.56 million and René Magritte’s L’empire des lumières (1949) at $34.9 million. The 20th Century sale included major canvases by Monet, Rothko, and Warhol, but the hammer total of $409 million fell below the $446 million pre-sale low estimate, indicating the auction house did not meet expectations.

justin sun responds david geffen counter response giacometti

Hong Kong crypto entrepreneur and art collector Justin Sun has filed a new 100-page legal response in his ongoing lawsuit against megacollector David Geffen over Alberto Giacometti's sculpture *Le Nez* (1949/1965). Sun claims his employee Xiong Zihan Sydney stole the $78.4 million artwork—which he bought at Sotheby's New York in 2021—and sold it to Geffen without his knowledge. Geffen counters that Sun is experiencing "seller's remorse" and that the lawsuit is a sham. Sun's latest filing alleges that Geffen paid $2 million "under the table" to dealers David and Cole Tunkl to secure the piece, and reveals that Xiong has been detained in China since February at the Dezhou Detention Center.

amid fraud case collector justin sun reportedly spent 75 m on trump backed crypto firm

Justin Sun, the crypto billionaire known for buying and eating Maurizio Cattelan's banana sculpture, is under scrutiny after reportedly spending $75 million on World Liberty Financial (WL), a cryptocurrency firm promoted by President Donald Trump. The investment, revealed by a New York Times investigation on April 28, comes while Sun faces a U.S. Securities and Exchange Commission fraud lawsuit and a separate legal battle with collector David Geffen over an Alberto Giacometti sculpture allegedly stolen from Sun's collection.

frieze sells to hollywood kingpin ari emanuel in 200 million deal

Frieze, the art fair and media company, has been sold to Ari Emanuel, the former CEO of Endeavor, in a deal valued at around $200 million. The acquisition, reported by the Financial Times, covers Frieze's seven global fairs, its magazine, and its London exhibition space, No. 9 Cork Street. Emanuel, who stepped down as Endeavor CEO in March following the $25 billion acquisition of the conglomerate by Silver Lake, will own Frieze through a new company backed by a consortium of investors. Simon Fox will remain CEO, and the deal is expected to close in the third quarter of 2025.

Ulysses Jenkins (1946–2026), A Black Radical Imagination

The article is a personal tribute by curator Erin Christovale to the late artist Ulysses Jenkins (1946–2026), chronicling their decade-long friendship and collaboration. Christovale recounts how she first encountered Jenkins's video work at the William Grant Still Arts Center in Los Angeles, and how a conversation with Otolith Group's Kodwo Eshun led to her curating Jenkins's work. She describes key moments including Jenkins's video "Planet X" (2006) about Hurricane Katrina, his 1979 work "Two-Zone Transfer" featuring Kerry James Marshall in blackface masks, and the 2021 retrospective "Ulysses Jenkins: Without Your Interpretation" co-curated with Meg Onli at the Institute of Contemporary Art Philadelphia, which later traveled to the Hammer Museum and Julia Stoschek Foundation.

Fairfield University Art Museum Exhibition to Commemorate 250th Anniversary of the U.S., Opens Jan. 23

Fairfield University Art Museum will open a major loan exhibition titled "For Which It Stands…" on January 23, 2026, running through July 25, 2026, as part of the university's commemoration of the 250th anniversary of the United States. The exhibition features over 70 works by diverse artists from the early 20th century to the present day, all centered on depictions of the American flag, including pieces by Jasper Johns, Faith Ringgold, Robert Rauschenberg, Shepard Fairey, Julie Mehretu, Childe Hassam, and a new textile sculpture by Maria de Los Angeles commissioned for the show. Works are lent by private collectors, artists, galleries, and institutions such as the Delaware Art Museum, Yale University Art Gallery, and the Gordon Parks Foundation.

The Surreal Economics of the Contemporary-Art Market

A conceptual artwork titled "Comedian" by Maurizio Cattelan, consisting of a banana duct-taped to a wall, sold at auction for over $6 million to billionaire Justin Sun. This sale occurred amid widespread speculation that the contemporary-art market has peaked, with global art sales dropping 12% in 2024. However, a painting by Marlene Dumas defied the trend, fetching $13.6 million and setting a record for a living female artist. The article explores the bewildering economics of the art market, featuring insights from economist Canice Prendergast and journalist Bianca Bosker, who describe a market where prices seem divorced from traditional logic.

Venice Unveils Stunning New Art Spaces

During the Architecture Biennale preview in Venice, two major new art spaces opened: the Nicoletta Fiorucci Foundation's new home in a historic palazzo on the San Barnaba canal, and SMAC (San Marco Art Centre), a contemporary art center on Saint Mark's Square designed by David Chipperfield. Additionally, Belgian artist Luc Tuymans accepted a last-minute commission from the Abbot of San Giorgio Maggiore to replace two Tintoretto paintings with his own large-scale works. The Fiorucci Foundation's palazzo, acquired in December 2024, opened May 10 with an exhibition by Georgian artist Tolia Astakhishvili, featuring works made from found materials and drawings on walls, alongside pieces by Thea Djordjadze and Maka Sanadze. SMAC, restored by Chipperfield, currently hosts two exhibitions: one on Australian modernist architect Harry Seidler and another on Korean landscape architect Jung Youngsun.

End of investment art? Why the bottom of the market is flourishing

The art market in 2024 saw an aggregate 12% decline in sales to an estimated $57.5bn, driven by a slowdown at the ultra-premium end, according to the Art Basel and UBS Art Market Report and Artprice. However, the lower end of the market is flourishing: auction sales of works under $5,000 grew 7%, dealers with turnover under $250,000 reported a 17% increase, and sales of works under $20,000 reached record levels. Online platforms like Avant Arte, which sold $23m in print and sculpture editions (up 53% year-on-year), are key drivers, attracting younger and first-time collectors with affordable, editioned works.

Meet the ‘Bop Artist’ Who Was Inspired by Dreams and Hosted Some Surreal Salons in Her Chicago Brownstone

Gertrude Abercrombie, a self-taught Chicago painter dubbed the "bop artist" by jazz legend Dizzy Gillespie for translating the spirit of bebop into visual art, is receiving her largest-ever traveling retrospective. The exhibition, "Gertrude Abercrombie: The Whole World Is a Mystery," organized by the Milwaukee Art Museum, highlights her dream-inspired, surrealist paintings and celebrates her role as a bohemian salon hostess who brought together iconic jazz musicians and writers in her home.

Spring 2026 to Feature New Documentaries, Screenings, Artist Talks, and a New Episode of Art in the Twenty-First Century

Art21 has announced its spring 2026 programming lineup, which includes new documentary premieres, film screenings, artist talks, and the second episode of the 12th season of its flagship series 'Art in the Twenty-First Century.' The season features artists such as Tomás Saraceno, Njideka Akunyili Crosby, Camille Henrot, and Ragnar Kjartansson, and coincides with the series' 25th anniversary.

Screening and Conversation with Sophie Calle

Art21 hosted an advance screening of Sophie Calle's segment from the upcoming Season 12 of "Art in the Twenty-First Century" at the SAG-AFTRA Robin Williams Center in New York. Following the first public showing of the documentary, which follows Calle preparing exhibitions in Paris, Arles, and Minneapolis, the artist participated in a conversation with filmmaker Bette Gordon. They discussed the influence of 1980s New York and themes of identity and vulnerability in her work.

The Sprawling New David Geffen Galleries At LACMA Open To The Public On Sunday, May 3

The David Geffen Galleries at the Los Angeles County Museum of Art (LACMA) will open to the public on Sunday, May 3, after 20 years of development. Designed by architect Peter Zumthor, the 900-foot-long horizontal glass and concrete structure overlooks the La Brea Tar Pits and stretches over Wilshire Boulevard. The main floor, elevated 30 feet above street level, offers 110,000 square feet of gallery space for LACMA’s permanent collection. The inaugural exhibition is inspired by four major bodies of water—the Pacific, Indian, and Atlantic oceans, and the Mediterranean Sea—and features works by artists including Todd Gray, Do Ho Suh, Lauren Halsey, Tavares Strachan, Jeff Koons, and Diego Rivera. The building also includes open plazas, an outdoor public space, and an Erewhon Cafe, with a larger restaurant and wine bar planned for fall 2026.

The Guardian view on the legacy of the Festival of Britain: look to the future | Editorial

The Guardian editorial reflects on the 75th anniversary of the Festival of Britain, launched by King George VI on 3 May 1951 as a "tonic" for a war-weary nation. It highlights the festival's most enduring legacy: the construction of the South Bank, including the Royal Festival Hall, which later became the Southbank Centre—the UK's largest arts complex. This summer, commemorations include poems from London schoolchildren projected onto its walls and a mobile poetry library visiting coastal towns, recreating the journey of the repurposed naval ship Campania. The festival, a triumph for the Labour government, faced critics like Evelyn Waugh and Noël Coward, and much of its physical infrastructure was demolished by the incoming Conservative government, save for the Royal Festival Hall.

Remembering James Hayward, LA’s Adored Cowboy Painter

Abstract painter James Hayward, known for his monochromatic oil and wax impasto works, died last week at age 82. A legendary figure in the LA art scene, Hayward was equally celebrated for his magnetic personality, ribald humor, and storytelling. He rose to prominence in 1977 when included in the group show "Less is More" at Sidney Janis Gallery in New York, and was admired by art-world giants such as Dave Hickey, Chris Burden, Nancy Rubins, Ed Moses, and Mike Kelley. Hayward also taught at colleges across the country, including a guest seminar at the University of Southern California, and was a longtime supporter of the LA contemporary art magazine Artillery.

Who Do Chicago’s Art Fairs Serve?

Expo Chicago and its satellite fairs serve as a complex barometer for the Midwestern arts ecosystem, highlighting both the successes of local representation and the tensions of institutional growth. While galleries like Andrew Rafacz and Corbett vs. Dempsey demonstrate viable career paths for Chicago-based artists like Melissa Leandro and Gabrielle Garland, the fair's shifting structure reveals a narrowing field for smaller nonprofits.

louvre museum closes gallery greek antiquities

The Louvre Museum in Paris has temporarily closed a gallery housing Greek antiquities and several offices after an audit revealed structural weaknesses in beams on the second level of the southern Sully wing. The affected gallery, the Campana Gallery, which displays antique Greek ceramics, was shut as a precaution, and 65 employees have been relocated while experts assess the damage. The closure comes amid a difficult period for the museum, following a $102 million theft of France's crown jewels in October and a scathing report criticizing leadership for prioritizing acquisitions over security upgrades.

design carlos soto theater costume design 2

Carlos Soto, a set and costume designer known for his emotionally charged and essentialist approach to theater, is profiled in a feature that traces his career from a childhood encounter with Robert Wilson to collaborations with Solange, Marina Abramović, and Philip Glass. Soto discusses his recent production of Robin Hood at Zurich's Schauspielhaus, where he fused Japanese Noh theater masks with animal memes to create costumes that blur the line between human and beast. The article highlights his uncompromising vision, his early apprenticeship under Frida Parmeggiani at the Met, and his decision to drop out of Pratt Institute to pursue hands-on learning.

gabrielle chanel la pausa restoration peter marino

Cultured reports on the meticulous restoration of La Pausa, the Mediterranean villa built by Gabrielle Chanel in 1928, led by architect Peter Marino. After Chanel sold the property in 1953 to American collectors who later donated it to the Dallas Museum of Art, the house of Chanel reacquired it in 2015. Over the following decade, Marino worked with Chanel’s heritage team, including Hélène Fulgence, to restore the villa to its original state using archival images, blueprints, and original furnishings sourced at auction. The villa, perched in Roquebrune-Cap-Martin, will now serve as a creative retreat for artists and writers.

heading to basel swiss collector suzanne syz has a priceless list of fair dos and donts

Swiss collector Suzanne Syz, a longtime attendee of Art Basel since its early days as a "mammoth indoor flea market," shares her insights and advice for navigating the fair. In an interview with Cultured, Syz discusses her collection, which includes works by Barbara Kruger, Julian Schnabel, Olivier Mosset, and Peter Fischli, and offers tips such as skipping long lines, focusing on the Statements section for emerging artists, and trusting gut instincts over spreadsheets. She also highlights the distinct Swiss art scene, praising institutions like Kunsthalle Zürich and MAMCO, and schools like HEAD and ECAL.

Georg Baselitz ist tot

German artist Georg Baselitz has died at the age of 88. According to Galerie Thaddeus Ropac, he passed away peacefully on Thursday. Born Hans-Georg Bruno Kern in 1938 in Deutschbaselitz, Saxony, Baselitz fled East Germany in 1957 after political repression and academic conflicts. His first solo exhibition in West Berlin in 1963 was shut down due to scandal, and works were confiscated. He became internationally known in the late 1960s for his radical upside-down painting, a signature inversion that destabilized pictorial logic. He also created an extensive sculptural body of work. Key career milestones include representing Germany at the Venice Biennale in 1980 alongside Anselm Kiefer, multiple Documenta appearances, the Praemium Imperiale in 2004, and election to the Académie des Beaux-Arts in Paris in 2019. Major late-career exhibitions included "Nackte Meister" at the Kunsthistorisches Museum in Vienna in 2023.

Uncertainty in the Art Market is Currently Extreme

"Im Moment ist die Verunsicherung auf dem Kunstmarkt extrem"

Prominent Cologne gallerist Gisela Capitain is celebrating her 40th anniversary amid a period of significant market volatility. In recent interviews, she reflects on her career—defined by long-term artist relationships like that with Martin Kippenberger—while critiquing the current state of the art world. She notes that buyers have become increasingly hesitant and deliberate, describing the current level of uncertainty in the art market as extreme and calling for reforms to institutions like Art Cologne.