A Tale of Two Cities: Spring Auctions in Hong Kong and Shanghai

Christie's and Sotheby's held their spring marquee auctions in Hong Kong and Shanghai, timed to coincide with Art Basel Hong Kong for the first time. Christie's evening sale of 20th and 21st century art in Hong Kong achieved HKD 560 million (USD 72 million) with a 95% sell-through rate, led by Jean-Michel Basquiat's *Sabado por la Noche (Saturday Night)* (1984) at HKD 112.6 million. Other highlights included a new artist record for Zhang Enli's *Intimacy* (2002) at HKD 23.4 million, and strong sales for works by Yayoi Kusama, Zao Wou-Ki, and Adrian Ghenie, though most lots sold near their low estimates.

Auction record

A new auction record has been set, with a significant artwork selling for a high price at a major auction house. The sale took place recently, drawing attention from collectors and the art market.

El Greco Painting Found Hidden Beneath a Forgery in the Vatican

El Greco Painting Found Hidden Beneath a Forgery in the Vatican

A painting by El Greco, titled 'The Redeemer' (c. 1590–95), was discovered in the Vatican after restorers removed a later forgery that had been painted over it. Scientific analysis confirmed the authenticity of the original work, which had been donated in 1967 and hung in the Apostolic Palace without prior study. The restored painting is now part of a two-work exhibition at the Papal Palace of Castel Gandolfo.

Hamnet-era mourning jewel from celebrated painting rediscovered after 400 years

A rare 17th-century mourning jewel, depicted in the celebrated 1635 painting 'Sir Thomas Aston at the Deathbed of His Wife' by John Souch, has been rediscovered after 400 years. The heart-shaped pendant, which contains a tassel of hair from Aston’s deceased son Robert, was identified by its current owners during a chance visit to an exhibition featuring the portrait. Valued at £650,000, the gold and enamel memento mori features intricate Latin inscriptions that were previously illegible in the painting.

met gala reveals 2026 dress code fashion is art

The Metropolitan Museum of Art has announced "Fashion is Art" as the official dress code for the 2026 Met Gala, complementing the Costume Institute’s upcoming exhibition, "Costume Art." Curated by Andrew Bolton, the show will feature approximately 400 objects that juxtapose couture fashion with traditional artworks and artifacts. The exhibition will be the first to inhabit the museum's new Condé M. Nast Galleries and is structured around a "typology of bodies," exploring how fashion interacts with various human forms ranging from classical nudes to aging bodies.

Jeremy Frey: The Generational Impact of a New Artistic Path

Indigenous weaver Jeremy Frey, a 2025 MacArthur Fellowship recipient, will participate in an upcoming public conversation with Hyperallergic Editor-at-Large Hrag Vartanian. The discussion will explore Frey’s unique practice of Passamaquoddy basketry, which involves harvesting natural materials like black ash and sweetgrass to create intricate vessels and innovative relief prints that bridge the gap between traditional craft and contemporary sculpture.

The Biggest Week of the Spring?

Hyperallergic's newsletter provides a comprehensive overview of a packed week in New York's art scene. Key events include the reopening of the New Museum after its OMA-designed expansion, the concurrent runs of the Affordable Art Fair and Outsider Art Fair, and the city-wide Asia Art Week. The publication also offers a critical assessment of the 2026 Whitney Biennial and a guide to upcoming spring art fairs.

defaults on art loans soar impact of australias social media ban on museums writer takes aim at singapore biennial morning link for january 6 2025

The Financial Times reports that half of non-bank lenders offering loans against artworks experienced defaults in 2024, up from 17% two years earlier, according to the Art and Finance Report 2025 by Deloitte Private and ArtTactic. The art market has shrunk 12% to $57.5 billion since 2022, dragging down collateral values and triggering margin calls. Meanwhile, Australia's social media ban for under-16s raises questions for museums, with the Art Gallery of New South Wales noting minimal impact but the Museum of Contemporary Art Australia more reliant on youth engagement. Other news includes Vanessa Horabuena's speed-painted Jesus sold for $2.75 million at Mar-a-Lago, the cancellation of NFT Paris and RWA Paris 2026, and a critical column calling for the end of the Singapore Biennial.

museums in crisis takeaways

Artnet News published its 'Museums in Crisis' series, a global investigation into pressures facing cultural institutions. Key takeaways include: Western museums face a funding and political crisis, with U.S. institutions losing hundreds of millions in federal support (including $428 million from the National Endowment for the Humanities) and European museums like those in Berlin facing cuts of €130 million. Corporate sponsorship is increasingly risky due to ethical scrutiny, with the U.K.'s Museums Association urging institutions to avoid ties to fossil fuels or human rights abuses. China's private museums are at risk of downsizing or disappearing due to economic slowdown and lack of public funding.

dealer oghenochuko ojiri pleads guilty hezbollah financier

London art dealer Oghenochuko Ojiri has pleaded guilty to eight charges of failing to disclose potential terrorist financing after selling artworks to Nazem Ahmad, a collector sanctioned by the US since 2019 for funding Hezbollah. The charges, brought by the Metropolitan Police’s National Terrorist Financial Investigation Unit, cover transactions from October 2020 to December 2021, with artwork valued at approximately £140,000 ($186,000). Ojiri, who owned a namesake gallery in East London and appeared as an art expert on BBC’s Bargain Hunt, allegedly filled out paperwork in other individuals' names to disguise Ahmad’s ownership of the works.

parties cult100 cultured magazine guggenheim

CULTURED magazine hosted its second annual CULT100 party at the Guggenheim Museum in New York, in exclusive partnership with Valentino and Valentino Beauty. The event celebrated the magazine's spring issue, a 400-page edition honoring 100 luminaries and rising talents across food, film, art, fashion, and more. Guests including Keke Palmer, Lena Dunham, Naomi Watts, Adam Scott, and Anne Imhof gathered in the Frank Lloyd Wright-designed rotunda for cocktails, a Valentino Beauty lounge, and a program that coincided with artist Carol Bove's ongoing museum survey exhibition at the Guggenheim.

Here’s what’s on the gallery walls in Boulder County

Boulder County’s art scene is currently hosting a wide array of exhibitions across its museums, galleries, and community centers. Highlights include the Boulder Museum of Contemporary Art’s eclectic group show "Yes &…," a historical examination of segregation at the Lafayette Swimming Pool in the 1930s at the Collective Community Arts Center, and a showcase of Indigenous ecological knowledge at the Dairy Arts Center. The region is also emphasizing local talent through the Boulder Valley School District student showcase and various member exhibitions at the Louisville Art Association and Liminal Light Gallery.

New Museum extension opens, NextGen collectors, a Wardian Case in Oxford – podcast

The New Museum in New York has opened a major new extension designed by architects Shohei Shigematsu and Rem Koolhaas of OMA. The expansion is inaugurated with a new exhibition titled "New Humans: Memories of the Future," curated by the museum's artistic director Massimiliano Gioni.

New Chilean president reverses predecessor’s policies, cutting culture budget

Chile's new president, José Antonio Kast, has implemented a 3% budget cut across all government ministries, including the Ministry of Cultures, Arts and Heritage. This reverses the trend of his predecessor, Gabriel Boric, who significantly increased cultural funding. The new Minister of Cultures, Francisco Undurraga, has stated there is "excessive spending on culture," and the government is seeking an additional $1bn in cuts, requiring ministries to identify alleged abuses in public fund usage.

Required Reading

Required Reading

Thousands marched in Buenos Aires on March 9 for a 24-hour women's strike, with one group staging a symbolic artwork by wrapping a continuous blindfold across their faces to protest patriarchal control. This followed a UN report urging Argentina's government to address gender-based violence. Separately, a *Guardian* investigation revealed UK museums hold over 260,000 human remains, many taken from former colonies, which MPs have condemned as a barbaric legacy of imperialism.

bayeux tapestry british museum loan

The Bayeux Tapestry, a 230-foot-long medieval textile depicting the Norman Conquest of 1066, will be loaned to the British Museum in London for the first time in 950 years. The historic deal between Britain and France is set to be finalized on July 9, with the tapestry expected to appear in a blockbuster exhibition about the Norman Conquest opening in September 2026. In exchange, treasures from across the U.K.—including artifacts from Sutton Hoo and the Lewis chessmen—will travel to France. The agreement will be announced by British Prime Minister Keir Starmer and French President Emmanuel Macron, and signed by British Museum director Nicholas Cullinan.

parties moma ps1 50th anniversary

MoMA PS1 kicked off its 50th anniversary year with an intimate cocktail event at the Tribeca townhome of board member Michi Jigarjian, hosted by the museum's patron group the Greater New Yorkers. Over 100 guests—including artists, collectors, dealers, and curators—gathered for remarks from Director Connie Butler, Chief Curator Ruba Katrib, and co-chairs Leslie Fritz, Ed Tang, and Amitha Raman, followed by a performance by experimental cellist Dorothy Carlos. Attendees received a first look at the upcoming quinquennial exhibition "Greater New York 2026," which will feature over 50 New York-based artists, with a partial list including Farah Al Qasimi, Fields Harrington, Hardy Hill, Sofia Sinibaldi, and Julia Wachtel.

Billionaire Collector Fred Eychaner Sued Over Chicago Museum Expansion

Billionaire philanthropist Fred Eychaner, founder of the private exhibition space Wrightwood 659 in Chicago's Lincoln Park neighborhood, is being sued by Lisa Berron, a condo owner who claims the museum's planned expansion will block natural light and skyline views from her top-floor home. Berron filed suit in Cook County Circuit Court in March, alleging that the expansion would rise above her roofline and sit just feet from her windows. Eychaner's team has already purchased two of the three units in her building and argues the project complies with existing zoning laws, while Berron reportedly rejected settlement offers and demanded nearly $4 million for her condo, which was appraised at around $1.2 million.

Leading French Gallery Air de Paris Is Declaring Bankruptcy and Closing After 36 Years

Air de Paris, a leading French gallery, is declaring bankruptcy and closing after 36 years, as announced by cofounders Florence Bonnefous and Edouard Merino to Cultured. The gallery owes money only to its landlord and bank, not to its artists. The closure is attributed to fragile finances and health issues, including Bonnefous's Chronic Obstructive Pulmonary Disease. The gallery's farewell exhibition, “Oh What a Time,” featured artists such as Trisha Donnelly, Joseph Grigely, Pati Hill, Pierre Joseph, Allen Ruppersberg, Lily van der Stokker, Mona Varichon, and Amy Vogel. Bonnefous will continue to manage the estates of Guy de Cointet, Pati Hill, Dorothy Iannone, Bruno Pelassy, and Sarah Pucci, and work as a curator.

Dealer Scott Nichols on His Lasting Love for Iconic California Photographers

Veteran art dealer Scott Nichols reflects on his long-standing career and the evolution of his eponymous gallery, which specialized in 20th-century California photography for nearly three decades in San Francisco before relocating to Sonoma in 2019. The gallery is renowned for its deep expertise in Group f.64, maintaining one of the largest private collections of Brett Weston’s work alongside masterpieces by Ansel Adams, Dorothea Lange, and Imogen Cunningham.

$25 Million Modigliani Goes to Jewish Heir in Landmark Restitution Case

A New York Supreme Court judge has ruled that the estate of Jewish art dealer Oscar Stettiner is the rightful owner of Amedeo Modigliani’s 1918 painting "Seated Man With a Cane." The decision concludes an 11-year legal battle led by Stettiner’s grandson, Philippe Maestracci, against billionaire art dealer David Nahmad. The court found that the painting was unlawfully seized by the Nazis after Stettiner fled Paris in 1939 and that subsequent sales, including the 1996 purchase by Nahmad at Christie’s, did not extinguish the original owner's rights.

Fair Warning Expands With Saara Pritchard, Doubling Down on ‘Conviction’ in a Crowded Art Market

Loïc Gouzer’s boutique auction app, Fair Warning, is expanding its leadership by appointing Saara Pritchard, a veteran specialist from Christie’s and Sotheby’s, as a partner. Since its 2020 launch, the platform has carved out a niche by rejecting the high-volume model of traditional auction houses in favor of a highly curated, "one work at a time" approach. This strategy has proven lucrative, recently achieving a record $16.7 million for an Andy Warhol portrait and a $4.07 million record for Elizabeth Peyton.

Bank of America ArtTactic Art Market Report 2026 Trends

b of a arttactic art market report 2026 trends

The US art market experienced a 23 percent increase in auction sales in 2025, reaching approximately $3.17 billion according to a joint report by Bank of America and ArtTactic. This growth was not fueled by a rise in general demand but was instead driven by high-value estate consignments, a return to established historical artists, and a heavy reliance on financial guarantees. The data indicates a shift away from the speculative flipping of 'wet paint' contemporary works, which saw negative returns for pieces held for less than five years.

the lume controversial immersive digital art gallery indianapolis museum of art closed

The Indianapolis Museum of Art at Newfields has officially closed The Lume, its controversial immersive digital art gallery, following the conclusion of its final exhibition on Indigenous Australian art. Since its 2021 launch, the high-tech space hosted popular digital spectacles featuring the works of Van Gogh, Monet, and Dalí, but it will now be repurposed for a new contemporary art initiative that the museum claims will expand how audiences experience art.

art dealers movie villains

Artnet News examines the recurring trope of art dealers as villains in popular cinema, highlighting seven films that feature duplicitous gallerists, auction house specialists, and art advisors. Examples include Rhodora Haze in *Velvet Buzzsaw* (2019), a ruthless gallerist who profits from a dead artist's work against his dying wish, and Virgil Oldman in *The Best Offer* (2013), an auction house director entangled in forgery and deception. The article also references Victor Taft in *Legal Eagles* (1986), where a performance artist's father's suspicious death drives the plot.

con artist charged for fraudulent sale of courbet painting

American con artist Thomas Doyle, 68, has been charged with wire fraud for allegedly defrauding London gallery owner Patrick Matthiesen over a Gustave Courbet painting. Doyle claimed to manage a family trust with billions in assets and offered to broker the sale of Courbet's 1844 oil painting *Mother and Child on a Hammock* without commission. Instead, he delivered the work to his partner Shalva Sarukhanishvili, who sold it to Jill Newhouse Gallery for $115,000; the gallery then resold it to collector Jon Landau for $125,000. Matthiesen received no proceeds and filed a lawsuit against Doyle, Sarukhanishvili, Jill Newhouse Gallery, and Landau. Doyle has a prior fraud conviction involving a Corot painting and was described by a judge as a "career criminal."

nyc apartment galleries

Across New York City, a growing number of artists and curators are turning their apartments into informal exhibition spaces, including Iowa in Crown Heights, Interrobang in Sunset Park, Drama in Bushwick, and Club Rhubarb near the Bowery. These home galleries, born from necessity and a rejection of the traditional art market, host shows in living rooms, kitchens, and stairwells, prioritizing intimacy and creative freedom over commercial viability. Antonia Oliver, founder of Iowa, describes her space as an "apartment gallery" that allows her to program without market pressures, exemplified by a recent performance piece by Anna Thérèse Witenberg.

matthiesen gallery lawsuit jill newhouse jon landau courbet

The Matthiesen Gallery in London has filed a lawsuit in the Southern District of New York alleging fraud, breach of contract, and other counts over a Gustave Courbet painting, *Mother and Child on a Hammock*. The gallery claims that Thomas Austin Doyle, a convicted con man, orchestrated a scheme to defraud director Patrick Matthiesen, selling the painting—valued at $650,000—through artist and dealer Shalva Sarukhanishvili to Jill Newhouse Gallery for $115,000, which then sold it to top collector Jon Landau for $125,000. The lawsuit also names Landau, who allegedly viewed the work multiple times at TEFAF fairs knowing its retail price, yet refuses to return it. Doyle has a long criminal history, including prior convictions for art fraud and theft.

margaret keane obituary

Margaret Keane, the American painter known for her iconic "Big Eyed Waif" portraits, died on June 26 at age 94 in her Napa Valley home due to heart failure. For years, her second husband Walter Keane fraudulently claimed credit for her work, a deception that unraveled in the 1970s when she challenged him to a public paint-off and later won a courtroom showdown in 1986. Her story gained renewed attention with Tim Burton's 2014 film *Big Eyes*, starring Amy Adams.

Tourmaline at Australian Centre for Contemporary Art

A major solo exhibition of work by the celebrated artist and activist Tourmaline has opened at the Australian Centre for Contemporary Art in Melbourne. Titled "Transcendent," the show is curated by Sophie Prince and runs from December 12, 2025, through March 15, 2026. It features new and existing works, including film, photography, and archival installations that explore themes of Black trans history, joy, and liberation.