Rare ‘Ocean Dream’ Diamond Sells for Record $17.3 Million at Christie’s

A rare 5.5-carat blue-green diamond known as the 'Ocean Dream' sold for $17.3 million at Christie’s Geneva jewelry sale, setting a record for a fancy vivid blue-green diamond at auction. The sale far exceeded its presale estimate of $9 million to $13 million after a 20-minute bidding battle. In other auction news, Sotheby’s New York sold over $433 million worth of art in its contemporary art sales, including 11 pieces from the Robert Mnuchin collection. Meanwhile, London’s Wellcome Collection agreed to return around 2,000 sacred Jain manuscripts to the Jain religious community under a new restitution framework, acknowledging they were acquired unethically. Several art fairs were announced, including Zero 10 curated by Trevor Paglen at Art Basel in Switzerland, CAN Art Fair Ibiza’s fifth edition, and Art-o-rama’s 20th edition in Marseille. Notable gallery news includes the bankruptcy and closure of French gallery Air de Paris after 36 years, and Carine Karam becoming director of Opera Gallery’s New York outpost. Hong Kong’s M+ and Paris’s Centre Pompidou announced a multi-year strategic alliance, and New York’s Frick Collection entered a three-year partnership with Louis Vuitton.

Paint Drippings: Art Industry News February 23

paint drippings art industry news feb 23

This week’s art industry roundup highlights major shifts across the global market, including Art Basel’s announcement of 290 galleries for its flagship Swiss fair and Sotheby’s adjustment of its buyer’s premium rates. Significant personnel moves include Devyani Saltzman’s abrupt departure from the Barbican, which sparked an open letter from over 170 cultural figures, and Anne-Claire Legendre becoming the first woman to lead Paris’s Arab World Institute.

What does winning an arts prize really mean?

The article examines the history and impact of major art prizes, including the Turner Prize (established 1984), the John Moores Painting Prize (nearly 70 years old), and the Loewe Foundation Craft Prize (annual award). It traces the origins of art prizes back to 19th-century Paris salons and highlights how these awards provide cash, recognition, and career acceleration for artists. Specific examples include Rose Wylie, who won the John Moores Prize at age 80 and later joined David Zwirner and secured a Royal Academy solo show, and Samuel Ross, who used his Hublot Design Prize winnings to start his own company.

Prado Restoration Lab Coats by Loewe

prado restoration lab coats loewe

Spanish luxury fashion house Loewe has designed custom, high-performance lab coats for the restoration department at the Museo Nacional del Prado in Madrid. Developed in collaboration with the museum's conservators, the garments are crafted from non-reflective materials to prevent glare on masterpieces and feature leather-reinforced pockets specifically sized for restoration tools.

japanese sculptor kunimasa aoki wins 2025 loewe craft prize

Japanese sculptor Kunimasa Aoki won the 2025 Loewe Craft Prize on Thursday evening in Madrid, receiving a €50,000 cash prize. His anamorphic terracotta sculpture “Realm of Living Things 19” was selected by a 12-member jury from 30 shortlisted works on display at the Thyssen-Bornemisza National Museum. The jury praised the work's honest expression of the ancestral coil process and the raw, unfinished form of the material. Two special mentions were awarded: Nigerian artist Nifemi Marcus-Bello for “TM Bench with Bowl” and Studio Sumakshi Singh from India for “Monument.”

Southeast Asia’s biggest impressionist art show is coming to Singapore

The National Gallery Singapore will host Southeast Asia’s largest exhibition of French Impressionist art, titled “Into the Modern: Impressionism from the Museum of Fine Arts, Boston,” from November 14, 2025, to March 1, 2026. The show features over 100 paintings on loan from the Museum of Fine Arts, Boston, including works by Claude Monet, Pierre-Auguste Renoir, Edgar Degas, Paul Cézanne, Berthe Morisot, and Camille Pissarro, with 17 Monet paintings such as ‘Poppy Field in a Hollow near Giverny’ and ‘Cap Martin near Menton.’ None of the artworks have been displayed in Southeast Asia before.

8 Mind-Bending Digital and Art Exhibitions To Visit

LUXUO highlights eight immersive exhibitions that integrate digital technologies, AI, and sensory engagement to redefine contemporary art experiences. Featured venues include DATALAND in Los Angeles, the world's first museum dedicated to AI-generated art, opening in June 2026 with its inaugural show "Machine Dreams: Rainforest"; the Museum of the Future in Dubai, which uses narrative simulations to explore speculative futures; and Moco Museum Amsterdam's "Digital & Immersive Art" by Studio Irma, focusing on interactive light-based installations. Other exhibitions blend projection mapping, 3D environments, and data-driven installations to transform how audiences perceive and interact with art.

Human Touch Wins Big With the 2026 Loewe Craft Prize

Jongjin Park won the 2026 Loewe Foundation Craft Prize and €50,000 for his work "Strata of Illusion, 2025," which combines glassblowing and bookbinding techniques using porcelain-coated paper layers. The ceremony took place at the National Gallery Singapore, with a jury led by Loewe's new creative directors Jack McCollough and Lazaro Hernandez, alongside architects Minsuk Cho, Frida Escobedo, Wang Shu, and Patricia Urquiola. Special mentions went to Graziano Visintin for his necklace "Collier" and a collaborative piece by Baba Tree Master Weavers and Álvaro Catalán de Ocón. The exhibition of 30 finalists, selected from over 5,100 applicants across 133 countries, runs at the National Gallery Singapore through June 14.

South Korean ceramic artist Jongjin Park wins 2026 Loewe Foundation Craft Prize.

South Korean ceramic artist Jongjin Park has won the 2026 Loewe Foundation Craft Prize for his piece "Strata of Illusion" (2025), a partially-collapsed seat-like form made from paper and coated in porcelain slip. The award comes with a €50,000 ($58,700) prize, and Park's work will be exhibited alongside other shortlisted entries at the National Gallery Singapore, opening tomorrow and running through June 14.

Things To Do In Singapore For The Culturally Curious

Singapore's art scene is hosting several diverse exhibitions this April, ranging from a cat-themed group show at Tokonoma to Chok Si Xuan’s solo exploration of technological materials at Starch. Other highlights include a collaborative exhibition at Fluxus House Gallery featuring emerging artists Tay Ying, Zhixin Sheng, and Winnie Chua, which examines the nuances of early adulthood through personal correspondence and imagery.

Loewe Foundation Craft Prize 2025 winner announced as exhibition opens

Japanese ceramicist Kunimasa Aoki has won the €50,000 Loewe Foundation Craft Prize 2025 for his terracotta work *Realm of Living Things 19*, which the jury praised for its risk-taking firing process. The piece, made from thin coils of clay stacked and compressed, was fired in an electric kiln until it began to smoke, then finished with soil, glue, and pencil marks. Two special mentions were awarded: one to Nifemi Marcus-Bello for a recycled aluminum bench with bowl, and another to an unnamed artist. The prize is part of an exhibition of 30 shortlisted works at the Thyssen-Bornemisza National Museum in Madrid, running until June 30.