Art News. Vasari Codex

trending_up market schedule May 8, 2025 visibility 29 link 25 artists, 4 galleries

3 million jeff koons hulk sells on buoyant first day at frieze new york

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.

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Big Galleries Are Racing to Sign Emerging Artists. It’s Changing Everything

Major blue-chip galleries like Gagosian, Hauser & Wirth, Pace, and White Cube are increasingly signing emerging artists earlier in their careers, bypassing the traditional trajectory where young artists would first develop with smaller galleries over many years. Examples include George Rouy joining Hauser & Wirth at age 30, Pam Evelyn joining Pace at 27, and Sasha Gordon joining David Zwirner in 2024. This shift comes amid a contracting art market where aggregate dealer sales fell 6% between 2023 and 2024, while smaller galleries with turnover under $250,000 saw sales grow 17%. Ultra-contemporary auction sales dropped 37.9% in the same period, signaling a cooling of speculative buying.