Art News. Vasari Codex

french art world opposes proposal new taxes 1234761820

Two French parliamentarians, Jean-Paul Matteï and Philippe Juvin, have proposed a new tax regime on art as part of France's 2026 budget, which would make France the only major art market to impose a wealth tax on the mere possession of artworks. The French art world has strongly opposed the proposal, with 27 signatories including Art Basel, auctioneer Drouot, visual artists' rights organization ADAGP, the Association for the International Diffusion of French Art (ADIAF), and the Comité Professionel des Galeries d’Art (CPGA). Critics argue the tax is technically unenforceable, would drive collectors away, and harm the broader art ecosystem.

trending_up market schedule Apr 18, 2025 visibility 18 link 10 artists, 2 galleries

Christie’s Paris Sells $64 Million Worth of 20th- and 21st-Century Art at Auction

Christie’s Paris held a series of auctions focused on 20th- and 21st-century art, achieving over $64 million in total sales with a 92% sell-through rate. The sales included works from the Lise and Roland Funck-Brentano Collection and the Henri Canonne Collection, and featured Impressionist, Modern, and Contemporary art. Three world records and one national record were set, including a wooden relief by Sophie Taeuber-Arp that sold for $3.4 million and Jane Avril au Divan Japonais by Henri de Toulouse-Lautrec, which fetched over $6 million and set a national auction record for the artist. The evening sale alone brought in over $34 million, and the Contemporary Art sale exceeded its high estimate at over $9.4 million.

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