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.
Artnet News asked four curators and four art advisors from around the world to each select one artist they believe is poised to break out in 2026. The article profiles the first two of eight artists: Indonesian artist Bagus Pandega, known for kinetic plant-based installations, who has had solo shows at Kunsthalle Basel and Swiss Institute New York; and Max Hooper Schneider, a Los Angeles-based artist creating aquarium-like works blending organic and artificial materials, recently exhibited at 125 Newbury gallery in New York.
Artnet News published its quarterly list of the most exhibited living artists in U.S. museums for December 2025, compiled by tracking temporary exhibitions across hundreds of institutions. The list ranks artists based on the number and type of shows they appear in, prioritizing career retrospectives, dedicated exhibitions, and biennial appearances. Among the top artists featured are Marie Watt, whose touring print exhibition "Storywork" and numerous group show appearances earned her a high ranking, and Jeffrey Gibson, known for his installation at MASS MoCA. The article notes that Watt also won the $250,000 Heinz Award in September 2025.
The Armory Show's VIP preview day on Thursday saw long queues and a cautiously upbeat mood at the Javits Center, despite a shaky art market marked by gallery closures and fair cancellations. Dealers reported serious interest and solid sales, including a $1 million work at Galleria Lorcan O’Neill, a Kehinde Wiley painting for $265,000 at Sean Kelly, and a Kennedy Yanko sculpture for $150,000 at James Cohan. The highest-priced work, Alex Katz's 1962 painting *October 2*, was listed at $1.2 million but remained unsold. The fair attracted major collectors like Don and Mera Rubell and institutional figures such as Thelma Golden and Scott Rothkopf, with the Presents section for emerging galleries also seeing brisk sales.
Mitch and Emily Rales, the billionaire founders of the Glenstone Foundation and its private museum in Potomac, Maryland, are divorcing. The foundation, established in 2006, holds net assets of $4.6 billion and an endowment rivaling that of the Metropolitan Museum of Art. The article revisits longstanding criticisms of private art museums, including Glenstone, arguing they function as tax shelters, social climbing tools, and competitors to public institutions. It notes Glenstone's restrictive policies—appointment-only access, a ban on visitors under 12, and a prohibition on gum chewing—and references past unionization efforts by its workers.
The Los Angeles County Museum of Art (LACMA) has unveiled the David Geffen Galleries, a $724 million architectural feat designed by Peter Zumthor. This massive, horizontal structure spans over Wilshire Boulevard, replacing several older buildings with a single, elevated concrete form. The new space abandons traditional chronological and geographical silos in favor of rotating, thematic displays that integrate the museum’s diverse encyclopedic collections.
ARTnews published an updated list of the 16 most expensive artworks ever sold at auction, highlighting recent record-breaking sales such as Gustav Klimt's *Portrait of Elisabeth Lederer* (1914–16), which fetched over $236.4 million at Sotheby's, and Jackson Pollock's *Number 7A, 1948*, which sold for well above its $100 million estimate at Christie's in May 2026 from the S. I. Newhouse collection. The article traces the history of top auction prices, including Vincent van Gogh's *Orchard with Cypresses* (1888), which sold for $117 million during the Paul Allen sale at Christie's in November 2022, part of a record $1.5 billion single-evening auction.
Sotheby's kicked off the May auction season with a $433 million sale, including an 11-lot group from the estate of late dealer Bob Mnuchin, led by an $86 million Mark Rothko painting. The three major auction houses are offering $1.8 billion worth of art by low estimate, a 50% increase from last year, driven by consignments from estates of key figures like Mnuchin, philanthropist Agnes Gund, and dealer Marian Goodman. Christie's will stage a sale from publisher S.I. Newhouse's collection expected to bring $450 million, potentially setting records for Jackson Pollock and Constantin Brancusi. The article reveals that many top sellers are anonymous, but unmasked names include the Dennison family and French collector John Sayegh-Belchatowski.
The 61st Venice Biennale is underway, with art world figures flocking to Venice for the opening. While the Biennale is officially a non-selling curatorial platform, commercial interests are increasingly visible: galleries are funding artists' projects to recoup investments, auction houses like Christie's are hosting private selling exhibitions (including a 'Ghost Pavilion' at the Ca' Dario Palazzo), and fashion houses such as Bottega Veneta and Chanel are sponsoring events. Sotheby's has pulled support for the U.S. Pavilion, which is now crowdfunding, while Frieze is bankrolling the British Pavilion for a second time.
Artnet News critic Ben Davis analyzed 130 recurring global art events—including biennials and triennials—that opened between the 2022 and 2026 Venice Biennales, tallying over 15,000 participating artists. He identified the most frequently featured artists, with Nolan Oswald Dennis topping the list at 14 biennial appearances. Dennis, a South Africa-based artist born in Lusaka, is known for works like "Black Liberation Zodiac" (2017-ongoing) and was included in the 2026 Venice Biennale curated by the late Koyo Kouoh.
The Obama Presidential Center is set to open on Chicago’s South Side on June 19, 2026. The $850m institution, designed by Tod Williams Billie Tsien Architects, features more than 25 site-specific contemporary art commissions integrated into its architecture and 19.3-acre campus. Ahead of the opening, the museum has partnered with Expo Chicago to preview these works, which include monumental contributions from artists such as Julie Mehretu, Mark Bradford, and Nick Cave.
A previously obscure double-sided drawing by Vincent van Gogh, created in the final weeks of his life, will be auctioned by Christie's in Paris. The sheet features a study of female pea pickers on one side and a landscape on the other, complete with color notations indicating Van Gogh's intention to develop them into paintings. The work has been authenticated by the Van Gogh Museum and carries an estimate of €100,000-€150,000.
Conceptual artist Anicka Yi has joined Pace Gallery, where she will be represented in partnership with Gladstone Gallery, 47 Canal, and Esther Schipper. Known for her research-heavy practice that utilizes scents, bacteria, and robotics, Yi cited Pace CEO Marc Glimcher’s background in biology and the gallery's history with light and space pioneers as primary reasons for the move. Her work will be featured in the New Museum’s upcoming expansion inaugural exhibition, "New Humans: Memories of the Future."
ART SG concluded its 2026 edition at Singapore’s Marina Bay Sands with steady sales and a reported attendance of 43,000 visitors. While the fair lacked the million-dollar trophy sales seen in previous years, blue-chip galleries like Thaddaeus Ropac and White Cube reported significant transactions, including a £475,000 Raqib Shaw painting and a sell-out presentation of Lee Bae works by Johyun Gallery totaling $2.76 million. The event also featured a strategic partnership with S.E.A. Focus, integrating the boutique fair into the main hall to highlight regional talent.
Museums across the United States are presenting a series of major exhibitions featuring Black artists in conjunction with Black History Month. Highlights include the final stop of Noah Davis's first museum show at the Philadelphia Museum of Art, a major retrospective of self-taught artist Minnie Evans at Atlanta's High Museum, a thematic group show of Black women artists at the Banneker-Douglass-Tubman Museum, a long-overdue South Carolina retrospective for 92-year-old artist Leo Twiggs at the Gibbes Museum, and a survey of Tavares Strachan's work at the Los Angeles County Museum of Art.
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.
Artnet News is searching for a permanent writer for its Wet Paint gossip column, with guest writers like Janelle Zara filling in temporarily. The column focuses on speculating about the identity of the anonymous Instagram account @artnotnet, which posts humorous, all-caps commentary on art world headlines, and notes the rise of art sales on platforms like Facebook Marketplace.
The article reports on a growing trend in the art world called a 'strategic pause,' where galleries and art fairs are temporarily suspending operations to reassess their futures. Vienna's Spark Art Fair announced a hiatus, Berlin dealer Mehdi Choukri is pausing exhibitions at his 30-year-old gallery, and the Art Dealers Association of America's Art Show skipped a year to 'reimagine' its direction. Additionally, the Metropolitan Opera in New York is considering selling its iconic Marc Chagall murals, and a fresh-to-market Magritte painting is heading to Christie's London.
Sperone Westwater, a pioneering New York gallery that launched artists like Bruce Nauman, Richard Long, and Francesco Clemente, will close on December 31 after 50 years. Co-founders Angela Westwater and Gian Enzo Sperone are pursuing separate endeavors. The gallery’s final show is a current exhibition for Long, and it will still participate in Art Basel Miami Beach next month. Founded in 1975 in SoHo, the gallery was known for championing Neo-Expressionism and transavanguardia, and later diversified its roster with artists like Joana Choumali and Gamaliel Rodriguez. Its eight-story Bowery building, designed by Norman Foster, faces an uncertain future.
This week's art industry roundup covers major developments across auctions, galleries, and art fairs. Highlights include $1.6 billion in art heading to auction at Christie's, Sotheby's, and Phillips in New York; the sale of the 'Mellon Blue' diamond for $25 million at Christie's Geneva; and the Vanderbilt jewels achieving $4.2 million at Phillips Geneva. In galleries, Sperone Westwater faces possible closure or transformation after 50 years, while Upsilon Gallery opens a new space in Milan. The IFPDA Print Fair expands to include drawings and rebrands, and Abu Dhabi Art will relaunch as Frieze Abu Dhabi next year. The Gallery Climate Coalition reports significant emissions reductions among its members.
Photographer Sally Mann has spoken out about government censorship after her photographs were seized from the Modern Art Museum of Fort Worth in Texas earlier this year. The controversy stemmed from her 1990s images of her children, which included nude depictions that some critics characterized as "child porn," leading to their removal from an exhibition following an open letter from the conservative Christian advocacy group Danbury Institute. Though the photos were returned and charges dropped, Mann expressed deep concern about the future of American museums, warning of a "new era of culture wars" and describing the situation as "Orwellian." She noted that social media has given censors more tools, and that the Trump administration is actively rolling out policies targeting museum programs, including a review of the Smithsonian.
Jeff Magid, a New York, Los Angeles, and Mexico City–based art collector, plans to open Cuernavaca Tres, a public art foundation in Mexico City, in 2026. In an opinion piece for ARTnews, he argues that the current downturn in the art market—marked by declining sales and gallery closures—is not due to economic cycles or financialization, but rather a simple mismatch: there are more galleries, auctions, fairs, and artists than ever, while the number of buyers has not kept pace. Magid criticizes the luxury retail model adopted by many galleries, which prioritizes exclusivity and status signaling, and contends that this approach fails to attract enough new collectors to sustain the market.
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.
The largest-ever exhibition of Diane Arbus's work, titled "Constellation," opens today at the Park Avenue Armory in New York City. Featuring over 450 prints—many previously unpublished—the immersive show debuted at LUMA Arles in 2023 and arrives in the U.S. with its original labyrinthine format. Curated by Matthieu Humery, the exhibition presents Arbus's iconic photographs of marginalized figures, celebrities, and everyday people without chronological or narrative order, emphasizing her equalizing gaze. The prints come from the collection of Maja Hoffmann, who acquired the complete set of printer's proofs from Neil Selkirk, the only person authorized by the Diane Arbus Estate to print from her negatives.
Frieze New York 2025 is approaching, and Artnet News has published a guide to must-see museum and gallery shows across the city. Highlights include dual exhibitions by Kennedy Yanko at Salon 94 and James Cohan, a solo show by Salman Toor at Luhring Augustine, two concurrent Picasso exhibitions at Gagosian and Almine Rech, and a major survey of Rashid Johnson at the Solomon R. Guggenheim Museum. The guide covers emerging and established artists, with shows running from April through July 2025.
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.
This spring in New York, major museum surveys at MoMA, the Whitney, the Guggenheim, and the Metropolitan Museum of Art feature artists all represented by the mega-gallery Hauser & Wirth: Jack Whitten, Amy Sherald, Rashid Johnson, and Lorna Simpson. The article notes that this concentration has been dubbed "Hauser spring" by some observers, and questions the increasingly blurred line between commercial galleries and museums, especially as Hauser & Wirth has provided financial support for at least three of the four shows.
ARTnews interviews Mohammed Hafiz, co-founder of Athr Gallery in Jeddah, Saudi Arabia, as part of its Newsmakers series. Hafiz discusses the evolution of the Saudi art scene since Athr's founding in 2009, the gallery's expansion into multiple locations and a foundation offering grants and residencies, and the role of grassroots patrons and collectors before the Ministry of Culture's involvement in 2018. The interview, conducted at the Athr Foundation in Riyadh during the first annual Art Week Riyadh, also touches on Hafiz's personal history with art, including buying his first artwork in high school in the 1990s, and challenges misconceptions that the Saudi art scene began only recently.
New York Art Week 2026 brings a major convergence of art events across the city, including several prominent art fairs such as Frieze New York, Independent New York, TEFAF New York, and NADA New York. The week also features gallery openings spanning from Tribeca to the Upper East Side, as well as auction previews ahead of key sales at Sotheby’s, Christie’s, and Phillips.
The article examines how young art dealers in New York are adapting to the city's high costs and competitive market during the May art season. It highlights galleries like Europa, Esther, and Gordon Robichaux participating in multiple fairs simultaneously, such as Frieze New York and Independent New York, to maximize sales and visibility. Dealers like Pali Kashi and Silke Lindner emphasize strategic resourcefulness, with some sales already covering fair costs, while referencing artist Josh Kline's essay on how real estate pressures stifle artistic risk-taking.