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The article examines the narrative that figurative painting died and made a comeback, arguing instead that it never truly disappeared. It traces the art market's pendulum swing from zombie formalism around 2014 to a surge in figurative painting by 2015, fueled by collectors seeking new, affordable works to flip quickly. The piece highlights emerging painters like Gina Beavers, Mira Dancy, Jamian Juliano-Villani, and Greg Parma Smith, and notes that the boom created auction stars whose prices later crashed, as reported in a 2024 New York Times article.

Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

The contemporary art market has declined for the fourth consecutive year, with auction sales for postwar and contemporary works falling to $4.5 billion in 2025 from a peak of $8.5 billion in 2021. Simultaneously, the market has seen a significant rebound in more established categories, with auction sales of Impressionist and Post-Impressionist works rising 47% and Old Masters climbing 30% last year.

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The article reports on a generational shift in the art world, with younger gallerists (millennials and Gen Z) redefining success away from the traditional empire-building model. It highlights the recent closures of Venus Over Manhattan and Tim Blum's gallery, but notes that emerging dealers like Bridget Donahue and Matthew Brown are prioritizing collaboration, transparency, and a sustainable pace—attending fewer art fairs and building tight-knit communities rather than large client bases. Separately, the article covers Hauser & Wirth's announcement of a new gallery in Palo Alto, California, set to open in spring 2026, marking the mega-gallery's first Bay Area location and its third in California.

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Olivia Barrett, co-founder of the Los Angeles gallery Château Shatto, is pivoting her business strategy to navigate a cooling art market and a post-boom landscape in Southern California. After moving to the Melrose Hill art corridor, Barrett is shifting away from the high-velocity art fair model to focus on a more curated, historical program. This includes integrating 20th-century estates and secondary-market works from artists like Alice Rahon and Emily Kam Kngwarray alongside contemporary voices like Aria Dean.

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The Nahmad family sold a Francis Bacon painting titled *Pope* (1958) for $15 million at the VIP opening of Art Basel. The work, which had been purchased by Helly Nahmad gallery for $6.6 million at a Sotheby’s auction in 2019, was the second-highest known price at the fair, trailing only a $40 million Louise Bourgeois *Spider* sold by Hauser & Wirth.

What’s the True State of Bangkok’s Art Ecosystem?

The article examines the current state of Bangkok's art scene, which is experiencing a surge of private investment and international attention. New institutions like UNITED Unlimited and Misiem's/bangkok are opening, and events like the Bangkok Art Biennale are gaining prominence, leading some international media to compare the city's potential to art hubs like Miami.

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This week's art industry moves include South Arts appointing Doug Shipman as its next president and CEO, departing his role as Atlanta City Council president to lead the regional nonprofit across nine Southern states. London gallery Alison Jacques now represents Cape Town–born painter Gina Kuschke, with a debut solo exhibition opening January 15. Gallery Wendi Norris in San Francisco will represent the Marie Wilson estate, while Berlin's Galerie Judin adds Jorinde Voigt to its roster in partnership with David Nolan, Dirimart, and Sicardi | Ayers | Bacino. Thaddaeus Ropac appoints John Utterson as director in London, and Aperture secures $2 million in gifts toward its new permanent home. A record $31.4 million was paid for François-Xavier Lalanne's 'Hippopotame Bar' at Sotheby's New York, tripling its high estimate. The article also notes a growing trend of consultancies—mostly US- and European-based—being hired to help the UAE, Qatar, and Saudi Arabia build their cultural sectors.

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Sara Nadal-Melsió, the former associate director of the Whitney Museum's Independent Study Program (ISP), has spoken out about her termination in June 2025, which occurred shortly after the museum's director Scott Rothkopf announced a suspension of the 50-year-old program. In an essay published in Hyperallergic, Nadal-Melsió describes her dismissal as retaliation for her public protest against the Whitney's cancellation of a pro-Palestinian performance titled "No Aesthetic Outside My Freedom: Mourning, Militancy, and Performance." She characterizes the museum's actions as part of a broader pattern of institutional obfuscation, corporate culture, and disregard for workers' rights.

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Nicolas Party's exhibition "Dead Fish" at Karma gallery in Chelsea, New York, features approximately 40 postcard-sized oil-on-copper works and a mural of three dead fish, a departure from his usual large-scale pastel paintings. Only 10 of the works were for sale, priced between $165,000 and $205,000, and all sold quickly. The show includes replicas of his earlier compositions, described as a "retrospective in miniature," with many pieces drawn from his archive and not available for purchase.

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This week's art industry roundup covers major auction results, gallery representation changes, museum leadership shifts, and a high-profile art theft. François-Xavier Lalanne's *Hippopotame Bar* sold for $31.4 million at Sotheby's Breuer headquarters, setting a record for both the artist and design works. A Tiffany Magnolia floor lamp also set a new auction record at Sotheby's, fetching $4.4 million. Meanwhile, a New Jersey auction house quietly sold over $100,000 of Jeffrey Epstein's belongings, including artworks, without disclosing his ownership. In the gallery world, several artists changed representation, and former Clearing director John Utterson joined Thaddaeus Ropac. Museum news includes the Smithsonian's National Museum of Asian Art repatriating three Khmer-era sculptures to Cambodia, Maria Balshaw stepping down as Tate director, MoMA PS1 offering free admission starting January 1, and the Rijksmuseum planning a new branch in Eindhoven. Additionally, eight rare Matisse prints and five works by Candido Portinari were stolen from São Paulo's Mário de Andrade Library.

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SuperRare, the digital art trading platform, is opening a permanent New York gallery called Offline in the East Village at 243 Bowery, the former home of Salon 94. The inaugural exhibition, “Mythologies for a Spiritually Void Time,” curated by X.S. Hou and Jack Wedge, opens July 8 and features 15 artists working across animation, painting, sculpture, and networked media. The launch includes a week-long festival with dance performances, panels on art and A.I., and a choreographed NFT auction ritual.

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The Philadelphia Museum of Art has opened "Boom: Art and Design in the 1940s," a major survey featuring over 250 works including painting, photography, jewelry, ceramics, fashion, and furniture. The exhibition draws entirely from the museum's own collection, with around 40 percent of the works never exhibited before. It includes early pieces by celebrated figures like Jackson Pollock and Lee Krasner, as well as works by queer artists such as Paul Cadmus, Beauford Delaney, and Romaine Brooks, alongside self-taught artist Horace Pippin. Chief curator Jessica Smith emphasizes that the show aims to present a more complex, multivalent narrative of the decade beyond the dominant story of Abstract Expressionism.

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Sotheby's held its inaugural Abu Dhabi Collectors' Week at the St. Regis Island Resort on Saadiyat Island, transforming the venue into a luxury showcase with handbags, diamonds, watches, a non-selling art display worth $500 million, and rare cars. The week culminated in open-air auctions under a full moon, netting $133 million—far exceeding the $17 million from Sotheby's first Middle East luxury sale in Saudi Arabia earlier this year. Highlights included a 1994 McLaren Formula 1 car sold for $25.3 million, a Jane Birkin Hermès handbag that fetched $2.9 million, and a 31.68-karat pink diamond called The Desert Rose that went for $8.8 million. A jewelry and timepieces sale achieved white-glove status, taking $25.4 million.

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Iran's domestic art market is proving resilient despite severe sanctions and economic hardship. In October 2025, Tehran Auction held a million-dollar sale at the Azadi Hotel in Tehran, totaling 134 trillion toman (roughly $1.5 million), featuring 120 works by leading modern and contemporary Iranian artists. The event, reported by The Art Newspaper, contrasts sharply with weak results for Iranian art at Sotheby’s and Christie’s in London, where Western demand has declined. Tehran Auction founder Ali Reza Sami-Azar notes that real domestic art spending continues to rise as more Iranians invest in art amid soaring inflation and currency collapse.

auction houses tapping into jewelry boom brooklyn public library launches art lending program paris photo returns morning links for november 14 2025 1234761805

Christie's incoming global head of jewellery, Max Fawcett, predicts a strong London Jewels sale, citing a 'purple patch' for the division after achieving $87.7 million in New York and a sold-out Magnificent Jewels sale in Geneva. Heritage Auctions, Phillips, and Sotheby's also report record jewellery and watch sales, with demand outstripping supply. Separately, the Brooklyn Public Library has launched an experimental art-lending program alongside its exhibition 'Letters for the Future,' featuring works by 35 artists that patrons can borrow. The article also notes the return of Paris Photo to the Grand Palais, archaeological discoveries in Italy, and updates on trans-inclusivity guidance for UK museums.

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Jaiveer Johal, an Indian art collector and logistics heir based in Chennai, discusses the current boom in the Indian art market in an interview for Artnet Pro's newsletter "The Asia Pivot." Johal, who founded the Avtar Foundation for the Arts in 2024 to promote Modern and contemporary South Asian art, notes that auction records for Indian Modern masters have reached new highs while contemporary galleries like Experimenter, Nature Morte, and Jhaveri Contemporary are expanding internationally. He observes that rising prices are pricing out many collectors, including himself, as institutions and wealthy buyers drive demand.

‘The challenge will be to sustain it’: was the autumn art market boom more than just a blip?

The autumn art market saw a significant upturn, with strong sales at Frieze London, Art Basel Paris, and New York auctions, including a $236.4 million Klimt and a $2.2 billion auction week in New York—up 77% year-on-year. Emerging London galleries like Ginny on Frederick, Rose Easton, and A. Squire have reinvigorated Frieze London, while Paris benefits from luxury-house funding, with the Fondation Cartier and Fondation Louis Vuitton hosting major shows. However, concerns persist about sustainability, as geopolitical volatility and post-Brexit challenges continue to affect the market.

ArtReview Asia Spring 2026 Issue Out Now

The Spring 2026 issue of ArtReview Asia has been published, featuring a cover profile of artist Li Yi-Fan. The issue includes an in-depth look at Li's work, which explores the relationship between humans and machines through video installations and performance lectures, ahead of his representation of Taiwan at the Venice Biennale. Other articles examine the contemporary art scene in Bangkok, urban redevelopment in Colombo, a colonial-era plant hunting exhibition in London, and Taiwan's museum boom.

The Centre Pompidou will inaugurate its South Korean branch in a former Seoul aquarium in early June

Le Centre Pompidou inaugurera début juin son antenne sud-coréenne dans un ancien aquarium de Séoul

The Centre Pompidou has announced the official opening date for its new South Korean satellite, the Centre Pompidou Hanwha, scheduled for June 4, 2026. Located in a former aquarium within Seoul’s financial district, the 11,000-square-meter space was redesigned by architect Jean-Michel Wilmotte and will launch with a major cubism exhibition featuring 90 works by masters such as Picasso and Braque. The inauguration was recently marked by a site visit from French President Emmanuel Macron and key cultural officials.

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Digital artist Mike Winkelmann, known as Beeple, joined Ben Davis on the Artnet News podcast "The Art Angle" to discuss his work and the evolving perception of digital art. Beeple first gained global attention in 2021 when his NFT artwork "Everydays, The First 5,000 Days" sold for $69 million at Christie's, making him a symbol of the NFT boom. Since then, he has continued to experiment with new media, including interactive video sculptures shown at LACMA and robot dogs with human heads displayed at Art Basel Miami Beach 2025.

TOP 10 exhibitions of 2025

Designboom has curated a list of the top 10 art exhibitions of 2025, highlighting standout shows from around the world. Key exhibitions include Yayoi Kusama's new infinity room at the National Gallery of Victoria in Melbourne, Do Ho Suh's solo show 'Walk the House' at Tate Modern, Andy Goldsworthy's 'Fifty Years' land art retrospective at the Royal Scottish Academy in Edinburgh, and Steve McQueen's immersive light and sound installation 'Bass' at Schaulager Basel. The list also features A.A. Murakami's mist-filled installation at Museo della Permanente during Milan Design Week 2025.

Frieze London 2025

Frieze London 2025 has opened with a wide-ranging program spanning contemporary art, photography, antiquities, and performance. Key highlights include the inaugural Echo Soho fair celebrating women-run galleries, the London edition of Dallas Invitational set to open at the former US embassy in 2026, and strong sales at Frieze Masters including a Triceratops skull. Christie's and Sotheby's auctions during the week showed a mixed market: Peter Doig's 'Ski Jacket' sold for £106.9m, but overall estimates and price corrections indicated caution. The fair also features Sophia Al-Maria performing stand-up as winner of the Frieze London Artist Award, a new pricing structure for greater gallery diversity, and a pop-up by The Art Newspaper and L'OFFICIEL.

SF's art scene is back— 9 summer shows you shouldn’t miss

San Francisco's art scene is showing signs of recovery after a difficult period marked by the pandemic, federal arts grant cuts, and museum closures. June brought positive developments: the Headlands Center for the Arts raised record funds at its annual auction, the shuttered San Francisco Art Institute plans to reopen as an artist studio, and local criticism magazine SquareCylinder is returning. The article highlights nine summer exhibitions across the Bay Area, including shows by Ruby Neri, William T. Wiley, Hank Willis Thomas, Charlie Tweddle, and Shepard Fairey, ranging from public art installations to gallery retrospectives.

meryl streep makes seven figure donation to national womens history museum musee dorsay receives collection of impressionist and post impressionist fan paintings morning links for march 19 2026 1234778006

The Musée d’Orsay has acquired a significant collection of 17 Impressionist and post-Impressionist fan paintings donated by Hong Kong-based collector Ms. Kan, featuring works by Pissarro, Gauguin, and Degas. In other major news, Helen Legg has been appointed the next director of London’s Royal Academy of Arts, and the New Museum premiered a new film by Camille Henrot. Additionally, the Jim Irsay Collection achieved a "white glove" result at Christie’s, totaling $94.5 million and setting 28 world records for pop-culture memorabilia.

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Frida Kahlo's 1940 self-portrait *El sueño (La cama)* sold for $54.7 million at Sotheby's on Thursday, setting a new auction record for a woman artist. The sale surpassed the previous record held by Georgia O'Keeffe and Kahlo's own prior record. Separately, Louvre director Laurence des Cars gave a major interview addressing security failures after a recent heist, and influential collector Dorothy Vogel died at age 90.

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Hauser & Wirth's UK subsidiary reported an 87% decline in pretax profit for 2024, falling to $1.6 million from $12.5 million the previous year, as revenue dropped by more than half to $91.4 million. The gallery attributed the downturn to a sharp fall in secondary-market sales, which can fluctuate significantly based on a few high-value transactions. The UK entity represents only a small portion of the gallery's global business, which the founders said remained aligned with the prior year's successful performance. Separately, the gallery's hospitality arm, Artfarm Group, posted a wider pretax loss of $24 million despite a 16% rise in turnover.

Gulf art market feels the force of Middle East conflict

The ongoing conflict in the Middle East, involving the US, Israel, and Iran, has disrupted the Gulf region's art market. Key events like Art Dubai have been postponed, and the inaugural Frieze Abu Dhabi faces uncertainty, as the area's stability—crucial for attracting international dealers and auction houses—is now in question.

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Phillips’s Modern and Contemporary art evening sale in New York on Wednesday achieved $67.3 million, a 24.4% increase over last year’s total but far below the $154.6 million record set in 2023. The 33-lot sale landed at the top end of its pre-sale estimate, with Francis Bacon’s *Study for Head of Isabel Rawsthorne and George Dyer* (1967) selling for $16 million as the top lot. Notably, the auction included dinosaur bones for the first time—a juvenile triceratops skeleton nicknamed Cera—which proved a lucrative draw, while a painting by rising British artist Jadé Fadojutimi and a gold nugget called “The Thunderbolt” both failed to sell. Only one new artist record was set, for Firelei Báez at $645,000.

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The article examines the meteoric rise and current cooling of the market for Labubu, the Nordic fanged monster character created by artist Kasing Lung. After a decade of slow development, Labubu exploded in popularity through Chinese toy blind-box manufacturer Pop Mart, leading to record auction sales in 2025. Yongle Auction in Beijing organized the world's first themed Labubu sale, where a mint-green sculpture sold for RMB 1.242 million and a painting, 'Pure' (2021), fetched RMB 1.61 million, setting successive records. The frenzy attracted a diverse range of buyers, from streetwear collectors to traditional ceramics enthusiasts, many of whom share their purchases on social media platforms like Douyin.

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A rare juvenile Ceratosaurus fossil sold for $30.5 million at Sotheby's New York, far exceeding its $6 million presale estimate after a six-minute bidding war. The 154-159 million-year-old specimen, discovered in 1996 at Wyoming's Bone Cabin Quarry, contains 139 original bone elements and stands over 6 feet tall. Sotheby's stated the buyer plans to loan the fossil to an institution.