Is an auction house's loss a gallery's gain? Pilar Ordovas collaborates with former Sotheby's specialists for African and Oceanic art show

Pilar Ordovas opens an exhibition at her Mayfair gallery titled *Dialogues: European, American, African and Oceanic Art from the 20th and 21st Centuries*, running from 9 October to 12 December. The show is a collaboration with Jean Fritts, former international chairman of African & Oceanic Art at Sotheby’s, and Pierre Mollfulleda, formerly head of Sotheby’s African & Oceanic Art department in Paris. It pairs Modern and contemporary Western works with African and Oceanic objects that inspired them, including pieces from the landmark 1984 MoMA exhibition "Primitivism" in 20th Century Art.

New Jersey Father and Daughter Plead Guilty to $2 M. Counterfeit Art Scheme

Two New Jersey residents, Erwin Bankowski and his daughter Karolina Bankowska, pleaded guilty to running a counterfeit art scheme that funneled over 200 fake works into the legitimate market between 2020 and 2025. The pair consigned forgeries attributed to artists including Andy Warhol, Pablo Picasso, Banksy, and Luiseño artist Fritz Scholder to galleries and auction houses across the United States, defrauding buyers of at least $2 million. They fabricated ownership histories, forged gallery stamps and certificates of authenticity using antique books and aged paper, and now face up to 20 years in prison plus restitution.

Heirs to the Bic Empire Say They’ve Been Robbed of a Renaissance Masterwork

The heirs to the Bic pen fortune, Gonzalve, Charles, and Guillaume Bich, have filed a lawsuit alleging a 15th-century masterpiece by Fra Angelico was stolen from their family. They claim the painting, 'Saint Sixtus,' was taken by their father's chauffeur in 2006 and sold to art dealer Richard Feigen, who later sold it to Chilean collector Alvaro Saieh in 2018. The heirs are now suing Saieh to reclaim the artwork and seeking the return of sale proceeds from Feigen's estate.

british museum treasure hunter stolen antiquities recovery

The British Museum is hiring a dedicated treasure hunter to recover hundreds of stolen antiquities, including gold jewelry and semi-precious stones allegedly taken by former curator Peter Higgs. Since the theft of some 1,500 objects was revealed in 2023, over a third have been recovered, but the museum is racing to find the remaining pieces before they are destroyed or melted down. The new role will focus on liaising with an international network of dealers, auction houses, and collectors, while also using open-source investigation and AI tools to track down items scattered globally.

india unveils piprahwa relics buddha narendra modi

The Indian government has unveiled the Piprahwa relics, a collection of Buddha-linked artifacts repatriated after being slated for sale at Sotheby’s in 2024. The objects, some dating to the 6th century BCE, were excavated in 1898 and 1971–1975 and are now on view at the Rai Pithora Cultural Complex in Delhi in an exhibition titled “Light and the Lotus: Relics of the Awakened One.” India’s government successfully blocked the Sotheby’s auction by arguing that the consignor, Chris Peppé, had no legal right to sell the stones and that the sale constituted “continued colonial exploitation.” Prime Minister Narendra Modi inaugurated the show, calling it a moment of great importance.

british museum specialist find missing gold

The British Museum is hiring a specialist to track down hundreds of stolen artifacts, primarily from its Greek and Roman collections, after thousands of items went missing in 2023. Tom Harrison, recently promoted to lead the department, is spearheading the recovery of treasures including gold jewelry, semiprecious stones, and glass dating back to the 15th century BCE. The museum has so far recovered 654 of an estimated 1,500 missing items, with efforts focused on private sales, catalogs, and historical archives, aided by open-source investigations and AI-assisted image matching. The scandal erupted when former curator Peter Higgs was sacked amid allegations of stealing, selling, and melting down artifacts over more than a decade; he denies the charges in an ongoing civil case.

sothebys abu dhabi luxury auctions collectors week

Sotheby's will launch its first luxury marquee auction series in Abu Dhabi this December, called Abu Dhabi Collectors' Week. Running from December 3 to 5 at the St. Regis Saadiyat Island Resort, the sales will feature cars, watches, jewelry, and real estate, alongside a museum-quality art exhibition spanning Old Masters to contemporary works. The auctions are organized in partnership with the Abu Dhabi Investment Office (ADIO) and coincide with major regional events like the Abu Dhabi Grand Prix and Abu Dhabi Finance Week. Headline lots include The Desert Rose diamond (estimated $5–7 million), a rare Rolex Daytona watch ($500,000–$1 million), and a 2017 Pagani Zonda 760 Riviera ($9.5–10.5 million).

abu dhabi collectors week sothebys luxury market not art

Sotheby's will hold its first luxury marquee sales in Abu Dhabi from December 3 to 5 as part of Abu Dhabi Collectors' Week, featuring Formula 1 cars, an Aston Martin, diamonds, and rare Rolexes. The sales coincide with the Abu Dhabi Grand Prix and other major events, backed by a $1 billion investment from majority shareholder Patrick Drahi and Abu Dhabi's sovereign wealth fund ADQ, along with support from the Abu Dhabi Investment Office. The auction house is focusing on luxury goods rather than fine art, with only a non-selling exhibition of Old Masters to contemporary works.

dear auction execs column

An art world insider publishes an open letter to auction executives, accusing them of encroaching on the primary gallery market by accepting consignments of works by emerging artists and scheduling auctions to coincide with major art fairs. The author argues that auction houses prioritize financial gain over artists' long-term career stability, destabilizing prices and encouraging speculation. They call for auction houses to respect the traditional boundaries between primary and secondary markets, stop glorifying auction prices, and avoid accepting works from recent primary sales.

adelaide labille guiard self portrait versailles

A previously unaccounted-for self-portrait by 18th-century French artist Adélaïde Labille-Guiard sold at Tajan auction house in Paris for €843,800 ($988,785), far exceeding its estimate of €300,000–€500,000. After the hammer fell, a representative of the Palace of Versailles invoked France's droit de préemption law to claim the 1782 pastel work for the national collection, preventing its private sale.

felzmann holocaust auction canceled

Felzmann auction house in Neuss, Germany, canceled its planned 'System of Terror Vol II' auction of Holocaust artifacts following international pressure from groups including the International Auschwitz Committee and the European Jewish Association. The sale, which included documents, letters, and Stars of David from Nazi victims between 1933 and 1945, was condemned as exploitative by critics such as executive vice president Christoph Heubner, who called it 'a cynical and shameless undertaking.' Polish Foreign Minister Radoslaw Sikorski and Culture Minister Marta Cienkowska also called for restitution of the items to Poland.

sothebys sells york avenue hq weill cornell breuer move

Sotheby's has sold its longtime New York headquarters at 1334 York Avenue to Weill Cornell Medicine, marking the final step in a major real estate transformation. The auction house will lease back floors 7–10 under a long-term lease while relocating its global headquarters to the Breuer Building at 945 Madison Avenue, which opens November 8 with a blockbuster exhibition. Sotheby's also acquired Gantry Point, a 240,000-square-foot complex in Long Island City, in 2023. CEO Charles Stewart stated the sale proceeds will reduce debt and invest in core business.

christies sothebys auction houses luxury fashion art

Auction houses Christie's, Sotheby's, and Phillips are increasingly relying on luxury goods—such as handbags, jewelry, wine, and whiskey—to offset a sharp decline in fine art sales. Fine art sales at these houses fell 44% in the first half of 2025 compared to 2022, creating a roughly $3 billion gap. Luxury sales have surged to a 20.2% market share by value in 2025, with Christie's reporting a 30% rise in luxury sales to $468 million in the first half of 2025, and Sotheby's luxury sales topping $2 billion for three consecutive years. Notable sales include a record $10 million Hermès Birkin bag and a $72 million jewelry auction in Geneva.

king tutankhamen egyptian artifact auction grasshopper

An intricately carved ivory and wood grasshopper from the Age of Tutankhamun, known as the 'Guennol Grasshopper,' is set to be auctioned by Apollo Art Auctions in July with an estimate of £300,000–£500,000. Egyptian art historians, including German Egyptologist Christian Loeben, have raised concerns that the cosmetic vessel may have been stolen by British archaeologist Howard Carter, who discovered King Tutankhamen’s tomb and allegedly kept some items for his own collection. The auction house states there is no documented evidence linking the object to the tomb, and it has been cleared against the Art Loss Register, but experts like former Met director Thomas Hoving have long connected it to the pharaoh’s burial.

buddha gems sothebys controversy

Sotheby's has postponed the auction of the Piprahwa Gems of the Historical Buddha, a collection of over 300 ancient gemstones and metal sheets linked to the Buddha, after criticism from academics, Buddhist leaders, and India's Ministry of Culture. The gems, discovered in 1898 by colonial engineer William Claxton Peppé in Uttar Pradesh, India, were set to be sold by his descendants in Hong Kong on May 7, with bidding starting at HK$10 million ($1.3 million). The auction house stated it is now in discussions with the Indian government to find a resolution.

food marcel sothebys restaurant roman williams

Marcel, a new restaurant, opened on April 17 in the lower level of Sotheby’s new home at the Marcel Breuer building on the Upper East Side. Designed by Roman and Williams in partnership with the auction house, the space features walnut-paneled walls, an open kitchen, and a pâtisserie. Chef Marie-Aude Rose, who also oversees La Mercerie downtown, created a “continental” menu rooted in French technique but influenced by Breuer’s Hungarian heritage, with dishes like chicken paprikash and lobster bisque with turmeric and ginger. The wine list comes from Sotheby’s own collection, allowing guests to purchase bottles they enjoy during their meal.

parties art fashion warhol museum gala piaget

The Andy Warhol Museum held its annual fundraising dinner at La Tête d’Or, chef Daniel Boulud’s steakhouse in New York’s One Madison, on Monday. The event gathered the city’s cultural vanguard, including artists Mickalene Thomas and Isabelle Brourman, museum director Mario Rossero, philanthropist Jeanine Heriveaux, and collectors Nathalie and Stan Doobin. Highlights included a live auction conducted by Sotheby’s Christy Coombs, featuring works by Mickalene Thomas and a limited-edition Dom Pérignon set with Basquiat artwork, and a try-on session of Piaget’s Warhol-inspired watches designed by creative director Stéphanie Sivrière.

Your guide to Christie's 20/21 auction week in New York

Christie's is holding its 20/21 auction week in New York from May 9–22, 2026, featuring seven live auctions and two online sales at its Rockefeller Center galleries. Highlights include the dedicated sale "MASTERPIECES: The Private Collection of S.I. Newhouse" (led by Constantin Brancusi's *Danaïde* and Jackson Pollock's *Number 7A, 1948*), the Impressionist and Modern Art Day Sale, and "Defined Space: The Collection of Henry S. McNeil, Jr.," which focuses on Minimalist works by Donald Judd and Dan Flavin. Other consignors include prominent collectors Agnes Gund, Marian Goodman, and Joanna Carson. The public can view works for free from May 9–21.

Drawing attention

Collector Patricia Poon and artist Angel Hui are among the figures highlighted in a series examining how Hong Kong women artists are gaining market share and recognition. The article reports that major auction houses Christie's, Sotheby's, and Phillips have moved their Asia headquarters to Hong Kong and now employ young women in key auctioneering roles. It notes a sharp increase in women artists featured in Chinese auctions, from 79 in 2019 to 231 in 2024, with 201 of those in Hong Kong. Works by artists like Firenze Lai, Elaine Chiu, and Kristy M Chan have performed strongly at auction, and Phillips has made promoting Hong Kong women artists a key priority.

Top Phillips rainmakers Cheyenne Westphal and Jean-Paul Engelen to leave auction house

Two top executives at Phillips auction house, global chairwoman Cheyenne Westphal and president of the Americas Jean-Paul Engelen, are stepping down. Westphal, who joined Phillips from Sotheby's in 2016 and has been called the most powerful woman in contemporary art, plans to start her own business working directly with private collectors and artists. Engelen is moving to Acquavella Galleries in New York. Their departures follow the resignation of executive chairman Ed Dolman in December and deputy CEO Amanda Lo Iacono at the end of last year, marking a significant leadership exodus.

A historic section of the Eiffel Tower's original staircase is set to go up for auction

Un tronçon historique de l’escalier d’origine de la tour Eiffel s’apprête à s’envoler aux enchères

The auction house Artcurial is set to auction a 2.75-meter-tall section of the original spiral staircase from the Eiffel Tower on May 21. This specific segment, consisting of fourteen riveted steel steps, was part of the structure connecting the second and third floors until it was dismantled in 1983 to make way for modern elevators. Estimated between €120,000 and €150,000, the piece holds significant historical value as it is the inaugural 'Lot No. 1' from the original 1983 dispersal sale.

The Price Points Powering the Art Market

The article, part of the Artnet Intelligence Report: Year Ahead 2026, analyzes art market performance by price bracket in 2025. The $1 million-to-$10 million range was the strongest segment, with sales totaling $3.5 billion—a 20.8% increase from 2024. Sales above $10 million rose 36.1% to $2.3 billion, boosted by high-priced masterpieces at New York's November auctions. The $100,000-to-$1 million bracket saw $3.2 billion in sales, up 6%. Meanwhile, works under $10,000 and in the $10,000-to-$100,000 range grew less than 1%, indicating cautious buyer behavior.

Duo Who Sold Fake Warhol, Banksy Plead Guilty in $2M Fraud

A father and daughter from New Jersey, Erwin Bankowski and Karoline Bankowska, pleaded guilty in federal court on April 28 to running a counterfeit art scheme that sold fake works attributed to Andy Warhol, Banksy, Pablo Picasso, Richard Mayhew, and others. Between 2020 and 2025, they placed over 200 counterfeit pieces, many made by an artist in Poland, into galleries and auction houses across the U.S., defrauding buyers of at least $2 million. They fabricated provenance, forged gallery stamps and certificates of authenticity, and misrepresented Native American heritage works, violating the Indian Arts and Crafts Act. They face up to 20 years in prison, restitution of at least $1.9 million, and deportation after serving their sentences.

Online Auctions Continue to Draw in First-Time Art Buyers as Sales Grow

Online-only sales of fine art at Christie’s, Sotheby’s, Phillips, Bonhams, and Artnet Auctions reached $423.9 million in 2025, an 8 percent increase from 2024. The number of lots sold remained steady at 29,623, but the average price per work rose 8.6 percent to $14,309. Sales were 270 percent higher than in 2019, before the pandemic accelerated the shift to digital auctions. Christie’s reported that 63 percent of new buyers in 2025 made their first purchase online.

Lost Bob Dylan Lyric Sheet Resurfaces After 60 Years—and Other Rare Finds Heating Up the Market

A rare, typewritten lyric sheet for Bob Dylan’s song “I’m Not There” has resurfaced after being hidden for nearly 60 years inside a first-edition book of poetry by Allen Ginsberg. The document, which was discovered by a book dealer handling the estate of Sally Grossman, is set to be auctioned by Omega Auctions with an estimate of £20,000–£40,000. Other high-profile collectibles hitting the block include Stephen Curry’s game-worn sneakers at Sotheby’s and a signed Albert Einstein etching.

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.

Veteran Advisor Patti Wong on How the Auction Market Is Recalibrating

Veteran art advisor Patti Wong, who left Sotheby's after three decades to start her own firm, analyzes a significant recalibration in the auction market. She notes a new discipline among auction houses and buyers following the frothy post-pandemic years, with houses becoming more selective, relying heavily on third-party guarantees, and facing greater buyer scrutiny on provenance and estimates. She also highlights the industry's expansion into new geographies like Saudi Arabia and new categories like luxury goods.

auctions houses middle market competition art

The auction industry's "middle market"—typically defined as lots under $1 million—is facing a period of intense competition and shrinking profit margins. While these lower-priced works account for the vast majority of transaction volume and a significant portion of earnings, the overhead costs of selling them remain high. Furthermore, aggressive financial maneuvers like guarantees and "enhanced hammers," once reserved for blue-chip masterpieces, are now being demanded by sellers and advisors at much lower price points.

christies unveils new rostrum designed jony ive apple former chief design office

Christie’s has unveiled a new auctioneer’s rostrum designed by Jony Ive and his design collective, LoveFrom. The sleek, oak-wood platform replaces the traditional design originally created by Thomas Chippendale in the 18th century, which had been the standard for the auction house for over 260 years. Crafted from French oak, the new rostrum features a contemporary rounded aesthetic and was engineered specifically to enhance the acoustic resonance of the auctioneer's gavel.

basquiat the hole kenny schachter

Kenny Schachter explores the existential threat posed by the rapid advancement of Artificial Intelligence and its projected impact on the global economy by 2028. Citing the Citrini Report, he highlights a future of mass unemployment among white-collar professionals—the primary demographic for art consumption—who account for over 50% of discretionary spending in the U.S. As tech leaders like Jack Dorsey begin significant workforce reductions attributed to AI, the financial foundation of the art market appears increasingly precarious.