Cash-Strapped Hong Kong Arts Hub Saved—Plus a Rundown of the Latest in Asia’s Art World
Hong Kong's financially struggling West Kowloon Cultural District, a major arts hub, has been rescued from its cash crisis. This development was part of a broader Asia art world update that also included leadership changes at Japan's Art Collaboration Kyoto and the announcement of a new art fair in Shenzhen.
Art critic Ben Davis reflects on the cultural landscape of early 2026, identifying a chaotic aesthetic defined by AI-generated imagery, esoteric Nazi dog whistles, internet trolling, and gaudy luxury, which he calls the "Chaotic Style." He also discusses the muted response to the 2025 Fall of Freedom initiative, the ongoing credibility crisis of liberal institutions over Gaza, and the need for serious AI criticism that moves beyond dismissing it as "slop."
The article analyzes the chaotic and contradictory state of the global art market in 2025, a year marked by extreme volatility following President Donald Trump's return to office. Key events include strong sales at Frieze Los Angeles in February, a record $13.8 million sale of a painting by M.F. Husain at Christie's, and a sharp downturn after Trump imposed sweeping tariffs on major trading partners. Major auctions in May fell far short of expectations, with only $837.5 million hammered against estimates of up to $1.6 billion. Meanwhile, Art Basel expanded with a new Qatar fair, but sales at Art Basel Switzerland dropped over 35% from 2024. The year also saw a wave of gallery closures, including the sunsetting of Blum & Poe.
Artnet News's 'The Asia Pivot' reflects on its 2025 coverage, highlighting the expansion of Asia's art scene beyond traditional East Asian markets into emerging regions such as the Gulf, South Asia, and Central Asia. Key developments include the debut of the Bukhara Biennial in Uzbekistan, the opening of the Almaty Museum of Arts in Kazakhstan, and the flourishing art scene in Thailand with new private museums like Dib Bangkok. The report also covers major markets like China, Japan, and South Korea, noting the impact of geopolitical dynamics and market shifts.
New York's November 2025 auction season is set to feature at least $1.67 billion in art across Sotheby's, Christie's, and Phillips, a 54% increase in estimates from the same period last year. The season is dominated by major estates, including Leonard Lauder's $400 million trove at Sotheby's with Klimt paintings and Matisse bronzes, Cindy Pritzker's collection featuring a Van Gogh, and anonymous Surrealist works. Christie's offers $736 million in low estimates from collections like Robert and Patricia Weis, Elaine Wynn, and Stefan Edlis. Phillips remains risk-averse, focusing on established names. The market shows a flight to quality, with emerging art reduced and delegated to day sales, while ultra-contemporary segments contract.
At the VIP opening of Frieze New York on Wednesday, dealers reported strong sales despite economic uncertainty from Trump administration policies and trade war threats. The fair, recently sold to Hollywood powerhouse Ari Emanuel, returned to the Shed in Hudson Yards with 67 exhibitors. Gagosian Gallery generated the most buzz, selling one of three Jeff Koons Incredible Hulk sculptures—polychromed steel works priced around $3 million each—and placing a hold on another. Other notable sales included works by Tuan Andrew Nguyen, Tomie Ohtake, Sheila Hicks, Liza Lou, and Gertrude Abercrombie, with galleries like James Cohan, Galeria Nara Roesler, Thaddaeus Ropac, Karma, and Hauser & Wirth reporting brisk business.
Sotheby's evening auction in New York on May 13, 2025, realized $407.5 million ($433.1m with fees), led by Mark Rothko's "Brown and Blacks in Reds" (1957) from the collection of the late dealer Robert Mnuchin, which sold for $74m ($85.7m with fees). The sale opened with all eleven lots from Mnuchin's collection achieving a 'white glove' result, totaling $140.7m ($166.3m with fees), and continued with a mixed-vendor contemporary section that added $223m ($266.8m with fees), setting four new artist records.
The San Francisco Museum of Modern Art (SFMOMA) is currently hosting a major survey of KAWS, marking the final stop of a three-city tour that highlights the artist's unique blend of commercial savvy and institutional ambition. The exhibition features a range of works from diamond-encrusted sculptures for Kid Cudi to a 'genius' membership drive that sold 1,000 KAWS-branded museum memberships at $300 each. Despite a significant cooling in his auction results—dropping from a 2019 peak of $112.9 million to just $7.72 million last year—the artist continues to draw massive crowds, particularly among younger demographics.
The Museum of Modern Art (MoMA) has launched a major solo exhibition dedicated to Marcel Duchamp, marking the artist's first comprehensive survey in New York City in over 50 years. The exhibition explores Duchamp’s revolutionary impact on modern art, featuring iconic works and archival materials that trace his history from the 1913 Armory Show to his later years in New York. The opening is complemented by a broader "Duchamp spring" in the city, including a forthcoming exhibition of his readymades at Gagosian.
10 power players paris
The inaugural edition of Paris+ by Art Basel has opened in Paris, marking a significant shift in the city's art fair landscape. The article profiles ten key figures instrumental in shaping the French art market, including fair director Clément Delépine, dealer and committee president Marion Papillon, and institutional leaders like Suzanne Pagé of the Fondation Louis Vuitton and Rebecca Lamarche-Vadel of Lafayette Anticipations.
At the opening of San Francisco's FOG Design and Art fair, prominent collector Komal Shah navigated the crowded aisles, stopping to chat with a who's who of the Bay Area art scene, including FOG founder Stanlee Gatti, ICA San Francisco director Ali Gass, and SFMOMA director Christopher Bedford. Shah, known for her collection focused on women artists, was scouting works with a handwritten list, considering pieces by Ruth Asawa and Joan Brown, though she passed on a $425,000 Asawa sculpture. The fair's gala serves as a fundraiser for SFMOMA, and Shah's collection is currently on view at the Berkeley Art Museum and Pacific Film Archive in the exhibition "Making Their Mark: Works from the Shah Garg Collection."
Abu Dhabi Art (ADA) opens its largest edition to VIPs on November 18 at Manarat Al Saadiyat, featuring 142 exhibitors—up from just over 100 last year. This is the final edition under the ADA name before it relaunches as Frieze Abu Dhabi in 2025, marking a major transition for the Gulf's art market. Key international dealers like Pace are returning after a long absence, and the fair includes works by Robert Indiana, Arlene Shechet, and a teamLab installation. The event comes as Art Basel also plans its 2026 debut in Qatar, signaling a broader regional shift.
The article reports on the inaugural Bukhara Biennial in Uzbekistan, titled "Recipes for Broken Hearts," which opened in the historic 16th-century Khoja Gavkushon complex. Curated by Diana Campbell, the biennial features over 70 projects spanning 500 meters of public space, including works by artists Subodh Gupta, Laila Gohar, and Carsten Höller. The exhibition embraces the local environment—sun, wind, and dust—as collaborators, rejecting the sterile white cube model. Food is a central theme, with communal plov parties, performative cooking sessions, and installations like Gohar's edible rock sugar pavilion. The biennial runs through November 20.
Artnet News' Wet Paint gossip column presents a selective summer guide for the art world, highlighting key exhibitions and social hotspots. In Manhattan, the Upper East Side offers the Park Avenue Armory's Diane Arbus photo exhibition, the Met's John Singer Sargent show, and the newly opened Frick with its Westmoreland café. Downtown, Bar Oliver in Two Bridges has become an art world haunt, co-created by Olmo and Cy Schnabel. The column also previews themed group shows: "Hope is a dangerous thing" at P.P.O.W. and "CAKE" at Olympia Gallery, featuring edible artworks. Exclusive news reveals the engagement of Lucas Zwirner to Charlotte Lindemann, merging two powerful art-dealing families. Additionally, Sky High Farm in Germantown, New York, is launching a new biennial with works by Anne Imhof, Rudolf Stingel, and Felix Gonzalez-Torres.
Spring 2025 in New York City brings a dense calendar of art fairs, headlined by Frieze New York at The Shed (May 7–11) with over 65 galleries from 25 countries, and Independent at Spring Studios (May 8–11) which this year surpasses Frieze in size with 85 exhibitors. Other notable fairs include the 1-54 Contemporary African Art Fair celebrating its 10th year with a focus on the Caribbean diaspora, the experimental SPRING/BREAK Art Show, and NADA New York featuring 120 galleries and a spotlight on Texas and Mexico. The guide also mentions newer showcases like Esther II and Conductor, offering a comprehensive overview for collectors and art enthusiasts navigating the city's art week.
The Isamu Noguchi Foundation and Garden Museum has announced the 2025 award honorees: architect-designer Mira Nakashima and sculptor Kan Yasuda, who will receive the 12th annual award at the museum's 40th anniversary benefit on November 17. In other industry moves, the Whitney Museum acquired digital artworks by Gretchen Andrew and Michael Mandiberg; Hesse Flatow added San Francisco-based artist Emily Harter to its roster; Alexander Gray Associates now represents Kamrooz Aram; Fong Chung-Ray joined Alisan Fine Arts; and Hakim Bishara was named editor-in-chief of Hyperallergic. Additionally, Ari Emanuel raised $2 billion in equity to fund Mari, a holding company that owns Frieze, tennis tournaments, and a majority stake in Barrett-Jackson auction house.
New York-based dealer Harper Levine is planning to open a new location of his gallery, Harper's, in Bangkok, Thailand, in spring 2026. The 2,500-square-foot space will be in the Siam Patumwan House, headquarters of Siam Motors Group, near the Jim Thompson House and Bangkok Art and Culture Centre. The expansion follows a pop-up show in Bangkok last year and will include an exhibition space, an advisory for Southeast Asian clients, a hospitality program, and an artist residency starting in 2026. StudioMDA, which has worked with Harper's and Marian Goodman Gallery, is handling the design.
A new exhibition of early 20th-century Estonian painter Konrad Mägi at Dulwich Picture Gallery has received a scathing critical review. The reviewer finds Mägi's colorful, modernist-influenced landscapes and portraits to be bland, derivative, and devoid of the emotional depth or urgency found in the great modernists or the gallery's own Old Master collection.
Bahar Behbahani's project "Damask Rose: A Gathering" transformed three fountains on Governors Island into a Persian garden using handwoven carpets and crocheted canopies. The event, part of Governors Island Arts's annual Interventions series, brought together over two dozen community practitioners and cultural groups for a four-hour gathering focused on storytelling, music, and art-making. The article also covers Mana Contemporary's Spring Open Studios in Jersey City, a new Gaza monument in Paterson, Sarah Lucas's public sculpture at the New Museum, and other New York-area art news.
Iranian artist Kamrooz Aram is currently experiencing a significant institutional and commercial moment, with his work appearing in three major exhibitions across two continents simultaneously. Critic Aruna D’Souza highlights Aram’s ability to synthesize Islamic visual idioms with Western abstraction, creating a painterly language that transcends cultural hierarchies and treats historical narratives with a unique lightness.
Dib Bangkok, Thailand's first international-standard contemporary art museum, opened on December 20 with a festive and dramatic inauguration in Bangkok. Founded by the late industrialist and art collector Petch Osathanugrah and completed by his son Purat "Chang" Osathanugrah, the museum debuted with the exhibition "(In)Visible Presence," curated by Ariana Chaivaranon and Dr. Miwako Tezuka, featuring 81 works by 40 artists from the museum's collection. The opening included a visceral performance by Marco Fusinato, where Chang struck a wall with a baseball bat to complete the artwork, symbolizing a "big bang" for Thailand's cultural landscape.
Thailand is emerging as a major contemporary art destination, with a wave of new institutions, fairs, and tax incentives drawing international attention. The government-initiated Thailand Biennale opens in Phuket, while the third and final edition of the Ghost biennial just concluded in Bangkok. Collector Marisa Chearavanont recently opened Bangkok Kunsthalle and Kai Yao Art Forest, and Purat “Chang” Osathanugrah is launching Dib Bangkok, billed as the country’s first international contemporary art museum, on December 21. New York dealer Harper Levine plans to open a Bangkok outpost of his Harper’s gallery in spring, and Seoul-based Artue is planning a scaled-up art fair called Art Bangkok International for next year. In August, the Thai government approved tax deductions for purchasing artworks by national artists and higher tax breaks for artists.
The Rijksmuseum in Amsterdam has announced an $11.5 million permanent sculpture garden, funded by a €60 million donation from the Don Quixote Foundation. Designed by Foster + Partners and landscape architect Piet Blanckaert, the garden will transform three areas of the museum grounds into a permanent display of Modern and contemporary sculpture, featuring works by Alberto Giacometti, Louise Bourgeois, Alexander Calder, Henry Moore, and Roni Horn. Three existing pavilions will be converted into exhibition spaces, and the garden is slated to open later this year, pending local council approval.
Amsterdam’s Rijksmuseum will open a new sculpture garden in fall 2026, funded by a nearly $70 million donation from the Don Quixote Foundation, which is financed by Dutch billionaire Rolly van Rappard. The garden will be located in Carel Willinkplantsoen park, across the Boerenwetering canal from the museum, and will incorporate three adjacent Amsterdam School-style pavilions renovated by Foster + Partners. Belgian landscape architect Piet Blanckaert will design the gardens, and the museum plans to display works by Alberto Giacometti, Louise Bourgeois, Alexander Calder, Jean Arp, Roni Horn, and Henry Moore, along with temporary exhibitions in the pavilions.
Belgium plans to revoke the museum status of Antwerp's Museum of Contemporary Art (M HKA) and transfer its 8,000-work collection to Ghent's Municipal Museum of Contemporary Art (Smak), canceling a promised $93 million new building. The proposal by Flemish culture minister Caroline Gennez has sparked resignations, legal challenges, and backlash from artists including Luc Tuymans and Anish Kapoor, who call it unlawful and a threat to cultural independence. A parliamentary hearing is expected in January 2026.
Art Basel Paris launched a new ultra-exclusive invitation-only preview called Avant Première, held one day before the official VIP preview. The four-hour event on Tuesday afternoon saw strong sales, with Thaddaeus Ropac selling works including a 1953 Alberto Burri for €4.2 million and two George Baselitz pieces, while Hauser & Wirth sold Gerhard Richter's 1987 *Abstraktes Bild* for $23 million, the highest reported sale. The fair limited each gallery to six invites with plus-ones, resulting in an estimated 3,000 attendees compared to 6,000 for the regular First Choice preview, creating a more manageable and urgent atmosphere.
V. Joy Simmons, a Los Angeles-based physician and longtime art collector, opened her Baldwin Hills home to ARTnews for a tour of her extensive collection. The house features over 150 objects, including stained-glass windows by Varnette Honeywood and Joyce Dudnick, a site-specific column installation by Lauren Halsey, and works by Elizabeth Catlett, Romare Bearden, Kerry James Marshall, Mark Bradford, Kehinde Wiley, and Carrie Mae Weems, among many others. Simmons began collecting in the 1970s with a $50 lithograph by Catlett and has since built a collection that spans generations of Black artists, often juxtaposing older and younger artists in her displays.
Frieze New York kicked off at the Shed in Hudson Yards with a notable sale: Jeff Koons's Incredible Hulk sculpture (Tubas) purchased for around $3 million, signaling a reunion between the artist and Gagosian after his departure to Pace in 2021. Despite a cautious market amid President Trump's tariff uncertainties, dealers reported better-than-expected sales on VIP day, with a focus on affordable works in the $50,000-to-$200,000 range. However, challenges emerged including U.S. Customs delays affecting international shipments and tariff confusion that led some fashion designers to withdraw from the Esther II fair.
The traditional quest to identify a single dominant Asian art hub is being challenged by the organic growth of decentralized scenes in cities like Bangkok and Hanoi. While Hong Kong and Seoul remain established centers, private initiatives and artist-led projects in Thailand and Vietnam are building resilient, hybrid ecosystems that prioritize long-term structural depth over immediate auction results. From the opening of Dib Bangkok to experimental exhibitions in Hanoi, these cities are transitioning from peripheral status to significant cultural players through a mix of private museums, biennials, and non-profit platforms.
The Trump administration has selected Mexico-based sculptor Alma Allen to represent the United States at the 61st Venice Biennale, with the pavilion organized by curator Jeffrey Uslip and sponsored by the newly formed American Arts Conservancy (AAC). The AAC, founded in July 2024 and based in Tampa, is run by executive director Jenni Parido, a pet foods entrepreneur with no prior art-world experience, and its board includes figures from construction, conservative media, and high-end event planning, raising questions about its qualifications for this high-profile role.