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kenny schachter new york fair auction recap 2648049

Kenny Schachter's article for Artnet News draws a parallel between President Jimmy Carter's 1977 energy-crisis plea to lower thermostats and the current art-market response to Trump-era tariff turmoil. He reports that the spring 2025 auction cycle generated $1.25 billion, continuing a decade-long decline from the 2014 peak, with bidders spending less and big-ticket sellers stuck. Schachter also promotes his own no-reserve auction, "Hoarder #6," scheduled for July 8–17 at Phillips, and critiques Trump's economic policies and crypto ventures, name-dropping Justin Sun as a major holder of $Trump tokens.

basquiat ruscha sothebys now contemporary art sale may 2025 1234742440

Sotheby's three-part evening sale in New York on Thursday generated $186.1 million across 68 lots, landing near the high end of its $141 million to $204.9 million estimate. The sale included a focused 12-lot offering from the collection of late gallerist Barbara Gladstone, which sold all works without guarantees and totaled $18.5 million, and a 15-work guaranteed sale from dealer Daniella Luxembourg featuring postwar Italian artists, where Lucio Fontana's 'Concetto spaziale, La fine di Dio' (1963) achieved $14.5 million and Michelangelo Pistoletto's 'Maria Nuda' (1969) sold for $2.7 million after a five-minute bidding war.

rashid johnson nosedive auction 2644742

Rashid Johnson's mixed media work *Untitled Escape Collage* sold for $292,100 at Phillips's Modern and contemporary art day sale in New York on May 14, falling short of its low estimate and representing a 72 percent loss in value for the consignor, who had purchased it for $816,500 at the same auction house in 2022. The disappointing result coincides with Johnson's solo exhibition at the Guggenheim Museum in New York.

Sotheby’s Closes Marquee Week With $186.1M in Contemporary Sales

Sotheby’s closed its May marquee auction week with $186.1 million in combined contemporary sales across three sessions on May 16. The evening began with a white-glove sale of 12 works from Barbara Gladstone’s personal collection, fetching $18.8 million, followed by a $40.4 million sale from Daniella Luxembourg’s collection, which signaled revived appetite for Italian postwar art. The main Contemporary Evening Auction saw strong bidding for emerging artists like Danielle Mckinney and Mohammed Sami, though some high-profile lots like Richard Prince’s Man Crazy Nurse fell short of estimates.

Obama Presidential Center Announces Final Cohort of Commissions Ahead of June Opening, Including María Magdalena Campos-Pons, Jeffrey Gibson, Lorna Simpson

The Obama Presidential Center in Chicago has unveiled its final cohort of artist commissions ahead of its scheduled opening in June. This group includes high-profile contemporary artists such as Njideka Akunyili Crosby, Jeffrey Gibson, and Lorna Simpson, who will contribute site-specific works ranging from a multi-layered portrait of the Obamas to a 34-foot stainless steel sculpture by Martin Puryear honoring the late John Lewis. These eight artists join a previously announced roster, bringing the total number of new commissions for the 19.3-acre South Side campus to 30.

Put Community First and Other Lessons On Institutional Sustainability From MCA Chicago

MCA Chicago director Madeleine Grynsztejn outlines the museum's guiding principles of championing revelatory art, fostering social belonging, and aligning internal practices with community ethics. The museum's collection is treated as a living resource rather than a static treasure, with exhibitions like "Descending the Staircase" and "City in a Garden: Queer Art Activism in Chicago" reflecting evolving narratives. The MCA Art Auction, held every five years, is highlighted as a values-driven fundraiser; the 2025 edition honors Ed Ruscha with a new commission and features works by artists including Rashid Johnson, Sanford Biggers, and Sarah Sze.

Obama Presidential Center announces new work by Jeffrey Gibson, Rashid Johnson, Lorna Simpson.

The Obama Foundation has unveiled the final group of artists commissioned to create site-specific works for the Obama Presidential Center in Chicago. This prestigious roster includes Jeffrey Gibson, Rashid Johnson, Lorna Simpson, and Njideka Akunyili Crosby, whose works will be integrated into the 19.3-acre campus. The announcement completes the artistic vision for the center, which aims to blend public space with high-caliber contemporary art when it opens on June 19th.