Paint Drippings: Art Industry News February 23

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This week’s art industry roundup highlights major shifts across the global market, including Art Basel’s announcement of 290 galleries for its flagship Swiss fair and Sotheby’s adjustment of its buyer’s premium rates. Significant personnel moves include Devyani Saltzman’s abrupt departure from the Barbican, which sparked an open letter from over 170 cultural figures, and Anne-Claire Legendre becoming the first woman to lead Paris’s Arab World Institute.

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Bank of America has awarded its 2025 Art Conservation Project grants to sixteen cultural institutions worldwide, including the Rothko Chapel in Houston, the Barnes Foundation in Philadelphia, and Sainte Chapelle in Paris. The grants support the conservation of diverse works such as Rembrandt's "The Blinding of Samson," William Hogarth's "A Rake's Progress," and Niki de Saint Phalle's "Tableau Tir" at Moderna Museet in Stockholm. Since 2010, the program has awarded over 275 grants across 40 countries.

Titian's ‘Bacchus and Ariadne’ to get a refresh with bank conservation grant

Bank of America’s annual art conservation program has awarded grants to 18 projects this year, including the restoration of Titian’s *Bacchus and Ariadne* (1520-23) at the National Gallery in London. The painting will be removed from display next month for conservation work that involves placing it on a new fabric support and repairing paint loss. Other funded projects include Rembrandt’s *The Night Watch* at the Rijksmuseum, bronze palms at the Arc de Triomphe in Paris, *Gaki Zōshi* at the Tokyo National Museum, Matisse’s *La Négresse* at the National Gallery of Art in Washington, DC, and works at the Museo de Arte de Lima and the Montreal Museum of Fine Arts.

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Evan Beard, a former Navy intelligence officer and Oxford economics graduate, is launching a new secondary market gallery called Beard & Co. on New York's Upper East Side after leaving Masterworks, the $1 billion art-tech startup where he ran its secondary market gallery Level & Co. Beard's career path includes stints at Deloitte and Bank of America, where he managed art financing operations and worked with major U.S. collectors. His new gallery will employ a half-dozen staff and function as a discreet private bank for collectors, offering services such as art loans, auction guarantees, consignments, and estate planning.

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The Städel Museum in Frankfurt, Germany, is undertaking a major conservation treatment of Rembrandt van Rijn's monumental painting *The Blinding of Samson* (1636). The project, expected to last three to four years, will address signs of aging and previous restorations, remove non-original paint, and create a historically accurate frame. The conservation follows a 2021 research seminar and technical studies published in the journal *ArtMatters*, which revealed previously unknown underdrawing techniques and adjustments to the artist's color palette and composition.

Tefaf restoration award goes to 500-year-old Medici tapestry

Tefaf has awarded its Museum Restoration Fund prize to the Minneapolis Institute of Art (MIA) for the restoration of a 500-year-old Medici tapestry, "The Meeting of Dante and Virgil" (circa 1547-49). The €25,000 grant will support cleaning, consolidation, and lining of the 5.3-meter-high work, which has not been displayed in over 60 years due to severe damage including silk weft loss and open slits. The conservation will be carried out by the Midwest Art Conservation Center, and the tapestry is expected to go on public view at MIA this summer.

The Dallas Art Fair: A Balance Of Growth And Consistency

The Dallas Art Fair (DAF), founded in 2009 by developer John T. Sughrue and curator Chris Byrne, concluded its eighteenth edition this past weekend. Director Kelly Cornell, who started as an intern and became director in 2016, has strengthened partnerships with the Dallas Museum of Art, Nasher Sculpture Center, and Dallas Contemporary, while securing sponsors like Bank of America. The fair has grown from 35 to over 90 galleries, though it still lacks mega-galleries like Gagosian, Hauser & Wirth, David Zwirner, and Pace. International participation this year included about 20 galleries, with notable names such as Perrotin, Anat Egbi, and Hesse Flatow, while galleries from Germany and China were absent.

Bank of America ArtTactic Art Market Report 2026 Trends

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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.

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Financier George Allen Weiss is seeking court approval to sell Claude Monet's painting *Nymphéas* (1914–17) for $36.5 million to an unnamed buyer, as part of his bankruptcy proceedings. Weiss filed for bankruptcy in June after a federal judge ruled he owed over $100 million in debt tied to his hedge fund, Weiss Multi-Strategy Advisers, which also filed for bankruptcy in 2024. The sale, handled through Weiss's GW Crown Holdings LLC, is intended to cover $123 million in debt to Bank of America, but Jefferies Strategic Investments has filed a limited objection demanding the buyer's identity be disclosed, citing a comparable Monet that sold for $65.5 million at Sotheby's.

Arkansas Museum of Fine Arts exhibition highlights the art of conservation

The Arkansas Museum of Fine Arts (AMFA) in Little Rock is opening an exhibition titled "The Long View: From Conservation to Sustainability: Works From the Bank of America Collection" on June 13, running through August 31. The show features paintings, photographs, prints, and sculptures from the mid-19th century to the present, highlighting artists who advocated for conservation and sustainable habitats. A free family event, "Family Fest: Into the Wild," will be held on June 14 with activities led by the Arkansas Game and Fish Commission, including artmaking, live animals, and outdoor demonstrations.

The Brooklyn Museum to Present Monet and Venice, the First Major Exhibition in over a Century Dedicated to Claude Monet’s Venetian Cityscapes

The Brooklyn Museum will present "Monet and Venice" from October 11, 2025, to February 1, 2026, the first major exhibition in over a century dedicated to Claude Monet's Venetian cityscapes. The show reunites nineteen of Monet's Venetian paintings alongside more than one hundred artworks, books, and ephemera, placing them in context with works by Canaletto, John Singer Sargent, J. M. W. Turner, and Pierre-Auguste Renoir. It is cocurated by Lisa Small of the Brooklyn Museum and Melissa Buron of the Victoria & Albert Museum, and sponsored by Bank of America.

Curator Conversation: Inside The Stars We Do Not See

The Denver Art Museum is presenting "The Stars We Do Not See: Australian Indigenous Art," an exhibition organized by the National Gallery of Victoria, Melbourne and the National Gallery of Art, Washington, in association with the Denver Art Museum, the Portland Art Museum, and the Peabody Essex Museum. The show features works from the National Gallery of Victoria's collection, including paintings by Indigenous Australian artists such as Mirdidingkingathi Juwarnda Sally Gabori, Thunduyingathi Bijarrb May Moodoonuthi, and others, with Bank of America serving as the North America Tour Sponsor.

Self-portraits, Surrealism and sanitary pads: what to expect from Tate Modern's Frida Kahlo show

Tate Modern has announced details for its upcoming blockbuster exhibition "Frida: the Making of an Icon" (25 June–3 January 2027), featuring more than 30 works by Frida Kahlo alongside photographs and personal artefacts. Co-curator Tobias Ostrander revealed that the show highlights Kahlo's impact on women artists across Mexico, the Americas, and Europe from 1970 to today, including highly personal works reflecting her suffering after a miscarriage and her complex relationship with the United States. The exhibition includes paintings such as "My Dress Hangs There" (1933-38), "Self-Portrait with Thorn Necklace and Hummingbird" (1940), and "The Frame" (1938), and examines Kahlo's links to Surrealism following her 1939 Paris exhibition. The show also features portraits of contemporary artists who have imitated Kahlo, such as Tracey Emin and Yasumasa Morimura, and a final section on "Fridamania" exploring how her image dominates popular culture on toys, dolls, and even branded sanitary pads by Saba.

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The Federal Reserve cut its benchmark interest rate by 0.25 percentage points, the first reduction since December, bringing rates to their lowest level since late 2022. Art finance experts Anita Heriot of the Fine Art Group and Joshua Greenberg of Bank of America Private Bank told ARTnews that while the cut is unlikely to create new art buyers, it could stimulate art lending and borrowing against collections, as lower rates reduce the cost of carrying debt. The move signals a potential trend of further rate declines, which may encourage collectors to reengage with the market, especially amid softening art prices.

Asheville Art Museum exhibit spotlights American Impressionism

The Asheville Art Museum in North Carolina will present "In a New Light: American Impressionism 1870–1940 | Works from the Bank of America Collection," an exhibition featuring over 120 works that trace the development of American Impressionism and its break with academic tradition. The show runs from February 7 through June 29, 2026, and is made possible through the Bank of America Art in our Communities program, which loans exhibitions at no cost to nonprofit community museums.