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paint drippings art industry news mar 10 2616868

This week's art industry roundup covers NADA New York's 11th edition with 111 galleries at a new venue, the Starrett-Lehigh Building, and Photo London's 10th edition at Somerset House with 99 exhibitors. In auctions, Sotheby's London saw a Yoshitomo Nara work sell for £9.03 million, while Christie's achieved £10 million for René Magritte's 'La reconnaissance infinie' and over £3.3 million for a Nazi-looted Egon Schiele drawing, plus $728,784 in its first all-A.I. auction. Galleries saw moves including Charles Moffett's new Tribeca space, Lisson Gallery representing Tishan Hsu, and Mika Yoshitake joining Blum as senior curatorial director. Museums and institutions feature the opening of Khao Yai Art Forest in Thailand with works by Louise Bourgeois, and the J. Paul Getty Trust appointing Kelly S. Moody as vice president.

alex rotter christies private auctions market rebound interview 1234766803

Christie’s Global President Alex Rotter discusses the auction house’s strong November sales, which brought in $690 million across two evening sales in New York, with sell-through rates exceeding 96%. In an interview with ARTnews, Rotter attributes the rebound to restored confidence rather than a sudden influx of money, noting that he sensed a turning point as early as September through subtle improvements in mid-season sell-through rates. He also addresses Christie’s growing use of private auctions, which he describes as "basically a private sale, just with competition."

Sotheby’s Sued by Cushman and Wakefield Over Unpaid $10.2 Million Commission

Real estate brokerage Cushman and Wakefield has filed a lawsuit against Sotheby’s, alleging the auction house failed to pay a $10.2 million commission following the $510 million sale of its former York Avenue headquarters to Weill Cornell Medicine. The broker claims that under a 2023 agreement, they were entitled to a 2-percent fee if the medical school transitioned from a tenant to a buyer, a deal that was finalized in 2025. Sotheby’s has dismissed the lawsuit as "baseless," asserting they will be vindicated in court.

MODERN AND CONTEMPORARY MIDDLE EASTERN ART - Christie's

Christie's London will host a live evening sale of Modern and Contemporary Middle Eastern Art on November 9, 2023. The auction features 58 works from artists across the Middle East and North Africa, including contemporary figures like Ahmed Mater and Sultan bin Fahad, and modern masters such as Etel Adnan and Mahmoud Sabri. Key lots include Mater's 'From the Real to the Symbolic City' and Adnan's 'Untitled'.