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another management shake up at sothebys asia and a rundown of the latest in asias art world 2668709

Sotheby's Asia faces another leadership shake-up as Elaine Holt departs her role as chairman of modern and contemporary art in Asia after just one year. Jasmine Prasetio, Sotheby's managing director for Southeast Asia, will relocate to Hong Kong to serve as interim chair. Meanwhile, European galleries Meyer Riegger and Galerie Jocelyn Wolff are partnering to open a new space in Seoul called Meyer Riegger Wolff, led by Gala Musi, with an inaugural show during Frieze Seoul. Design Miami will make its Asian debut in Seoul, and London-based artist Firenze Lai has joined White Cube's roster. In Taiwan, the Taichung Green Museumbrary, designed by SANAA, is set to open in December, and the Gwangju Biennale Foundation has appointed Youn Bummo as its new president.

paint drippings art industry news jul 7 2664592

This week's art industry news covers major auction results, gallery changes, and restitution developments. At Christie's Old Masters evening sale in London, Canaletto's "The Return of the Bucintoro on Ascension Day" set a new auction record for the artist at £31.9 million ($43.9 million), leading the sale to a total of £60.8 million. Sotheby's Old Masters evening sale brought in £14.5 million, with three new records including Diana de Rosa's "Salome with the Head of Saint John the Baptist" selling for £317,500. A rare early watercolor by Man Ray, "Nude Playing Musical Instrument" (1913), resurfaced after decades and will be auctioned at Dreweatts. In gallery news, Blum gallery laid off most of its staff and plans to cease brick-and-mortar operations, while Waddington Custot announced a new Paris space, and Company Gallery hired Subhas Kim Kandasamy as executive director. White Cube now represents Firenze Lai, and JD Malat Gallery launched a new initiative for UAE artists. In restitution, the Netherlands returned 119 Benin Bronzes to Nigeria, and the Museum of Fine Arts, Boston, transferred two Benin works to the Oba of Benin.

Frieze New York Is an Assembly-Line Salad

At Frieze New York, curator Lucien Zayan searches for artworks exploring the relationship between food and art, finding a piece by Aki Goto at Europa gallery that reflects on sugar, colonization, and cavities. The fair features works like David Lamelas's "To Pour Milk into a Glass" (1972) from Dia Art Foundation and Mungo Thomson's "Snowman" (2023) at Karma, while a performance by Kite (Oglála Lakȟóta) at the Counterpublic triennial booth offers a reprieve from the monotonous fair experience.

Hong Kong’s latest art auctions see turnover lingering at 8-year low

Hong Kong's major auction houses—Christie's, Phillips, and Sotheby's—held their seasonal modern and contemporary art evening sales over the past weekend, with total turnover lingering at an eight-year low. Despite the overall downturn, a handful of records and last-minute withdrawals improved the success ratio, and several lots drew vigorous bidding, such as Salvo's "Mattino di primavera (Spring Morning)" which sold for HK$4 million (five times its low estimate) and Firenze Lai's "Basic Knot" which fetched HK$477,300 (nearly four times its low estimate).

Drawing attention

Collector Patricia Poon and artist Angel Hui are among the figures highlighted in a series examining how Hong Kong women artists are gaining market share and recognition. The article reports that major auction houses Christie's, Sotheby's, and Phillips have moved their Asia headquarters to Hong Kong and now employ young women in key auctioneering roles. It notes a sharp increase in women artists featured in Chinese auctions, from 79 in 2019 to 231 in 2024, with 201 of those in Hong Kong. Works by artists like Firenze Lai, Elaine Chiu, and Kristy M Chan have performed strongly at auction, and Phillips has made promoting Hong Kong women artists a key priority.