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Picasso Painting That Cost S. I. Newhouse a MoMA Board Position Heads to Christie’s for $55 M.

Christie’s New York will auction 16 masterpieces from the collection of late Condé Nast magnate S. I. Newhouse on May 18, with an estimated total of $450 million. The highlight is Pablo Picasso’s Cubist painting *Homme à la guitare* (1913), estimated at $35–55 million, which Newhouse acquired in 2000 for $10 million after MoMA sold it from its collection. Newhouse, then a MoMA board member, violated museum policy by buying the work and subsequently resigned from the board.

The 16 Most Expensive Artworks Ever Sold at Auction

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.

Art Basel Curbs Pre-Fair Sales—and More Art Industry News

Art Basel has launched a "Basel Exclusive" initiative to curb pre-fair PDF sales, encouraging galleries to withhold works from previews to drive in-person discovery at its flagship Swiss event (June 16–21). Around 170 of 232 exhibitors have opted in. Meanwhile, Volta returns to Basel with a new "5,000 Edit" section for works under CHF 5,000 to attract younger collectors, and the alternative fair Esther will hold its third edition in New York during Frieze Week. In other news, Sotheby's set a U.S. record for design auctions with the Jean and Terry de Gunzburg collection totaling $96 million, and billionaire collector Mitchell P. Rales pledged $116 million to the National Gallery of Art to fund loans to smaller museums. The Smithsonian American Art Museum named Lynda Roscoe Hartigan as its new director, and Gladstone Gallery plans a new Seoul space for 2026.

Secretive LA art dealer Larry Gagosian to be subject of 'juicy' unauthorized doc

An unauthorized documentary about mega-gallerist Larry Gagosian is in the works, directed by Barry Avrich, who previously helmed the Netflix hit "Made You Look: A True Story About Fake Art." Titled "Shadow Man: Inside The Secret World of Larry Gagosian," the film promises to feature former employees and artists sharing insider stories about Gagosian's empire. Avrich has a track record of documentaries on high-profile figures, including Lew Wasserman and Harvey Weinstein.

The Multibillion-Dollar Maneuvers Behind the Met’s Raphael Show

The Metropolitan Museum of Art has opened “Raphael: Sublime Poetry,” the largest survey dedicated to the Renaissance master in the U.S., featuring 33 paintings and 142 works on paper. The exhibition includes loans from 60 public institutions across 11 countries, as well as private loans from billionaire Leon Black, and the estimated aggregate value of the art on view is in the billions of dollars. Curated by Carmen Bambach, the show took eight years to organize and follows her previous triumphs on Leonardo and Michelangelo.

Dartmouth Students Turn to Moldy Beef Jerky Installation in Renewed Bid to Remove Leon Black’s Name from Arts Center

Art students at Dartmouth College installed a provocative piece titled "Something Rotten" in the Black Family Visual Arts Center, consisting of 20 moldy beef sticks arranged into a smiley face over the dedication wall honoring billionaire financier Leon Black and his family. The work, created by students Erik Siegel, Angeles Juarez-Ruiz, and Roan Wade, was removed one week after the exhibition "Storage Room" opened on April 14. The piece references Black's documented friendship and business dealings with convicted sex offender Jeffrey Epstein, with the wall label quoting an Epstein email mentioning "jerky." The installation is part of a broader student and alumni campaign to remove Black's name from the arts center, which was funded by a $48 million gift from Black and his wife Debra.