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Artnet News staff reflects on the most impactful stories of 2025, covering a wide range of topics from institutional shifts and devastating wildfires to market sensations and conceptual art. Key pieces include Ben Davis's analysis of the art world's 'post-woke' turn, Sarah Cascone's report on Los Angeles artists losing homes in the Eaton Fire, Katya Kazakina's tale of a David Hockney painting yielding a 7,000 percent return at Christie's, Andrew Russeth's coverage of Richard Prince's seven-hour deposition video, Kate Brown's profile of Friedrich Kunath, and Annie Armstrong's introduction of the 'red-chip' art market driven by hype and crypto.

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Frieze has announced over 280 exhibitors for its October fairs in London, with around 160 galleries at Frieze London and 120 at Frieze Masters, running concurrently in Regent's Park from October 15 to 19. In auction news, the original Hermès Birkin bag prototype will be sold at Sotheby's Paris on July 10, and Bonhams has appointed Celine Assimon as chief commercial officer. Galleries saw significant moves: Christian Deydier in Paris is closing due to new EU regulations on imported cultural objects, while Carroll Dunham joined Matthew Brown, Cristina Iglesias signed with Hauser and Wirth, and several other artists changed representation. Meanwhile, Tate Liverpool received £12 million in UK government funding plus philanthropic support for its redevelopment, the Royal Academy of Arts named Simon Wallis as its new secretary and chief executive, and the Whitney Museum suspended its Independent Study Program for a year after controversy over censorship of a pro-Palestine performance. The Robert Rauschenberg Foundation made three new appointments, and the Académie de la Grande Chaumière in Paris faces eviction.

Marian Goodman’s Prized $65 Million Collection Lands at Christie’s

Christie’s has announced the sale of the private collection of the late legendary art dealer Marian Goodman, who passed away in January at age 97. Estimated to bring in approximately $65 million, the collection is headlined by a group of significant works by Gerhard Richter, an artist Goodman championed for four decades. The centerpiece of the auction is Richter’s 1982 painting "Kerze (Candle)," which carries a high estimate of $50 million and will lead a series of dedicated sales in New York this May.

Bruno Bischofberger, Swiss Art Dealer and Early Backer of Basquiat, Dies at 86

Bruno Bischofberger, the influential Swiss art dealer, collector, and historian, died on Saturday at age 86. He opened his first galleries in Zurich and St. Moritz in 1963, championed American Pop artists like Andy Warhol and Roy Lichtenstein, and became an early backer of Jean-Michel Basquiat, representing him from 1982. Bischofberger also helped found Interview magazine with Peter Brant and was a longtime exhibitor at Art Basel.

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Artnet News published a roundup of the top five episodes of its podcast 'Art Market Minute' from 2025, hosted by Margaret Carrigan. The episodes cover key industry topics: whether artists still need galleries, how to build professional relationships in the art world, the rising market value of Jack Whitten's work, the impact of AI on the art market, and the wave of high-profile gallery closures reshaping the trade. Guests include Sonia Manalili, Brooke Lampley, Naomi Rea, Eileen Kinsella, Jo Lawson-Tancred, and Katya Kazakina.

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Art Basel's Unlimited sector opened on Monday at the Messeplatz in Basel, featuring 70 large-scale projects selected from 93 galleries. Curated by Giovanni Carmine, the showcase includes works such as Agnes Denes' wheat field installation, Mario Ceroli's peace-themed flags, Christo's wrapped Volkswagen Beetle (priced at $4 million), and pieces by Lutz Bacher, Alex Da Corte, and Anna Uddenberg. VIP collectors and museum directors, including Paul Ettlinger and Chris Dercon, were among the first attendees, with galleries using early social media posts to signal status and generate buzz.

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Pilar Corrias is expanding her London gallery with a new 5,000-square-foot flagship space at 49-51 Conduit Street in Mayfair, featuring 16-foot ceilings and street-level access. The gallery, now 15 years old, has grown from representing 4 to 35 artists, including top-selling names like Christina Quarles. Corrias decided to open the new space after a four-year search, citing its rare size and industrial character as a contrast to her existing Savile Row location, which she will retain. The first exhibition in the new gallery will showcase new paintings by Christina Quarles.

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Bridget Finn, who became director of Art Basel Miami Beach in July 2023, has organized the 22nd edition of the fair from start to finish for the first time. In an interview days before the VIP opening at the Miami Beach Convention Center, she discussed welcoming 286 galleries, the importance of hospitality, and the fair's role in Miami's art scene. She highlighted 34 new galleries joining this year, notable works by Augusto Machado and Roberto Huarcaya, and the fair's efforts to engage diverse audiences including VIPs, institutions, and the general public.

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This week's art industry roundup covers major developments across art fairs, auction houses, and galleries. Ahead of Art Basel in Basel, Artnet's Editor-in-Chief Naomi Rea investigates how the trade lost control of the pricing narrative amid a market breakdown. The Armory Show announces its 2025 edition with over 230 galleries and new curated sections, while Frieze will open a gallery space in Seoul. Sotheby's London will auction Pauline Karpidas's collection estimated at over $81 million, and a rare Rodin marble sold for $1.2 million. Caroline Lang steps down as chair of Sotheby's in Switzerland after four decades. Gallerist Kamel Mennour donates 180 works to Paris's Musée d'Art Moderne, and Marian Goodman Gallery now represents the estate of Ana Mendieta.

Which Artists Are Insiders Searching For? After 10 Years, Not Much Has Changed

Artnet's Price Database analysis reveals that the most-searched artists by its users have remained remarkably consistent over the past decade. Pablo Picasso, Andy Warhol, and Marc Chagall continue to hold the top three positions, with David Hockney and Yayoi Kusama joining the list, while Salvador Dalí and Lucio Fontana have dropped off.

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Spring 2025 auction results at Christie’s and Sotheby’s in New York showed a mixed market. Major lots like Alberto Giacometti’s *Grande tête mince* failed to sell, and Andy Warhol’s *Electric Chair* was withdrawn. However, top sales included Piet Mondrian’s *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* for $47.56 million, Claude Monet’s *Peupliers au bord de l’Epte, crépuscule* for $42.96 million, and Mark Rothko’s *No. 4 (Two Dominants)* for $37.78 million. Works by Basquiat, Magritte, Picasso, and Richter also sold well.

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Art Basel 2025 opened in Basel, Switzerland, with nearly 300 leading galleries showcasing high-value artworks despite a turbulent art market. Major works include a Gerhard Richter abstraction (1987) at David Zwirner, priced around $30 million, a Ruth Asawa hanging sculpture sold for $9.5 million, and Picassos at Pace and Helly Nahmad Gallery, with the latter's *Femme nue couchée jouant avec un chat* (1964) listed at $28 million after fetching $21.2 million at auction two years ago. The fair runs through Sunday, offering rare opportunities to view and purchase blue-chip pieces.

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A broken flowerpot discovered in a London garden turned out to be a rare Hans Coper ceramic, commissioned by the owner's late mother after she admired his work at an exhibition. The four-foot-tall stoneware vessel, produced in early 1964 and bearing Coper's seal, was offered by Chiswick Auctions with a presale estimate of £6,000–£10,000. Despite significant damage, it sparked a bidding war lasting nearly 10 minutes, ultimately selling to a U.S. bidder for £36,500 ($48,300) hammer price, or £47,800 ($63,250) including fees.

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Pope Francis became the first pontiff in history to visit the Venice Biennale, touring the Vatican's Holy See pavilion at the 60th edition on April 28, 2024. The exhibition, titled "With My Eyes," was installed inside a women's prison on Giudecca Island and featured works by artists including Maurizio Cattelan, Simone Fattal, and Corita Kent. The pope met with about 80 female inmates, delivered a speech on art's power to address societal ills, and praised the contributions of women artists such as Frida Kahlo and Louise Bourgeois. He also held an open-air mass in St. Mark's Square and spoke with young people at Santa María della Salute.

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The article profiles billionaire Greek Cypriot collector Dakis Joannou, focusing on his superyacht *Guilty*, painted by Jeff Koons in dazzle camouflage, and his Deste Foundation's project space on Hydra. It describes the 2023 group show "Dream Machines," co-curated by Daniel Birnbaum and Massimiliano Gioni, featuring works by Koons, Andro Wekua, Mire Lee, and others, and includes an interview with Joannou about the yacht's design and his art collection.

Unseen George Condo Works Arrive at Auction From Anna Condo’s Collection

Anna Condo, the former wife of American painter George Condo, is bringing 27 previously unseen works from her private collection to auction at Christie’s. The collection, which includes paintings, drawings, and sculptures acquired during their 28-year marriage, will be featured in the Post-War and Contemporary Art day sale on May 21. These works have never been exhibited or sold publicly, offering a rare glimpse into the artist's private creative output between 1988 and 2017.

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Artist Trevor Paglen and AI researcher Kate Crawford have launched ImageNetRoulette, a viral digital art project that uses artificial intelligence to label user-uploaded photos. The project, which is part of their "Training Humans" exhibition at Fondazione Prada, gained massive social media traction by generating often offensive or bizarre classifications for users. By exposing the problematic labels—ranging from "mediatrix" to racial slurs and criminal accusations—the creators aim to reveal the deep-seated systemic biases embedded in the ImageNet database, one of the world's most influential AI training sets.

Marina Abramović Is the Unlikely Star of the New Balloon Museum

Marina Abramović Is the Unlikely Star of the New Balloon Museum

Performance artist Marina Abramović has created a large-scale inflatable installation for the new permanent New York outpost of the Balloon Museum. Titled *Snowy/Windy/Spring On The Planet Z*, the immersive work transforms the Tin Building into an imagined extraterrestrial meadow filled with balloon sculptures, light, and air currents, opening in July 2026.

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Art Basel, the flagship art fair, returns to Basel, Switzerland from June 17 to 22 amid a period of market contraction and geopolitical instability. The article explores key questions surrounding the fair, including whether the proliferation of new Art Basel editions in Paris and Doha is diluting interest in the original Swiss event. Gallerists and collectors weigh in, noting that while Paris is rising in importance, Basel retains unmatched prestige and draws a genuinely engaged international audience. The piece also highlights the fair's new "Premiere" section, which spotlights mid-career and established artists, featuring London gallery Edel Assanti's debut presentation of American artist Lonnie Holley.

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The Smart Museum at the University of Chicago has announced plans for a major mid-career survey of artist Theaster Gates, titled “Unto Thee,” opening September 23 and running through February of next year. This marks Gates’s first solo museum exhibition in his hometown of Chicago, despite his international acclaim and numerous institutional shows elsewhere. The exhibition will feature objects Gates has collected and repurposed from the university, including glass lantern slides, vitrines, concrete, and wooden pews, alongside a large-scale installation of African masks accompanied by music from the late DJ Frankie Knuckles.

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Several galleries withdrew from Art Basel Miami Beach 2024 amid rising costs and a contracting art market, leaving some like San Francisco's Altman Siegel facing cancellation fees despite closing. Claudia Altman-Siegel, who shut her gallery, owed $22,000 after missing the free-cancellation deadline. Other dealers, including Miguel Abreu, Tilton Gallery, and Sperone Westwater, navigated the fair's strict payment terms for different reasons—some pulling out early to avoid penalties, others proceeding despite business challenges. The fair proceeded with 283 exhibitors and reported strong sales, including an $18.5 million Joan Mitchell painting, signaling a potential market upturn.

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MCH Group, parent company of Art Basel, announced a new Doha edition of the Swiss art fair, set to launch in February 2026. Art Basel Qatar will start with 50 galleries and expand to around 200, partnering with Qatar Sports Investments and QC+, a commercial arm of Qatar Museums. The fair aims to bolster markets across the Middle East, North Africa, and South Asia.

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The top lot of Sotheby's May auction season in New York, Alberto Giacometti's bronze sculpture *Grande tête mince (Grande tête de Diego)* (1955), estimated at $70 million, failed to sell on Tuesday night. The work was consigned by the Soloviev Foundation, set up by Stefan Soloviev, son of late mega-collector Sheldon Solow, and was offered without a financial guarantee, a risky strategy that backfired when no bidders emerged. Auctioneer Oliver Barker made several chandelier bids before declaring the lot unsold at $64.2 million, shocking the packed salesroom.

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.

These Artists Dominated Auction Sales in 2025

The article presents a data-driven analysis of the top-performing artists at auction in 2025, highlighting specific works and their record-breaking sales. J.M.W. Turner re-entered the top ranks with a $11.9 million sale, while Jean-Michel Basquiat dominated the contemporary category with a $48.3 million result for his painting 'Crowns (Peso Neto)'. Other notable sales included works by René Magritte, David Hockney, and the ultra-contemporary artist Matthew Wong.

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Artnet News senior reporter and columnist Katya Kazakina has won the Newswomen’s Club of New York’s 2025 Front Page Award for specialized reporting in arts and entertainment for the second consecutive year. The award recognizes her July story “Keeping Up With the Clients: The Art World Lifestyle Can Be Dangerously Alluring,” which investigated how dealers and advisors overextend themselves financially and legally to maintain social ties with wealthy patrons. The piece grew out of her earlier scoop on dueling lawsuits between ultra-high-end art advisors Barbara Guggenheim and Abigail Asher.

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Global fine-art auction sales reached $11.7 billion in 2025, marking a 13.3 percent increase over the previous year and the first market growth since 2021. While the first half of the year was hampered by inflation and geopolitical tensions, a surge in the second half—particularly during New York’s November marquee sales—pushed the market upward. This recovery was led by a renewed appetite for "trophy works," highlighted by the record-breaking $236.4 million sale of Gustav Klimt’s Portrait of Elisabeth Lederer at Sotheby’s.

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The U.K. Crown Prosecution Service has charged Hauser & Wirth and an art shipping firm with violating criminal sanctions by making George Condo's 2021 work on paper, *Escape from Humanity*, available to a person connected to Russia in 2022. Separately, Frida Kahlo's 1940 painting *El sueño (La cama)*, estimated at $40–60 million, will be auctioned at Sotheby's on November 20, potentially yielding a 78,400 percent return for its consignor. Qatar is also planning the first duty-free art storage unit in the Gulf.

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Art adviser and Baer Faxt founder Josh Baer has proposed specific price limits for works by "ultra-emerging" artists—those fresh out of school, such as an MFA graduate from Yale. In his No Reserve newsletter, Baer advises collectors to pay no more than $15,000 for a large work and $5,000 for a small piece at a first solo show in a reputable gallery. The advice comes amid ongoing debate about inflated prices for young artists, following a column by Artnet News editor-in-chief Naomi Rea that questioned the market's pricing logic. LA gallerist Charlie James endorsed Baer's thresholds, though some collectors argue that pricing cannot be so neatly codified.

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Artnet News editor-in-chief Naomi Rea joins Kate Brown on The Art Angle podcast to discuss the unraveling of traditional art pricing logic. The art market has cooled beyond a typical downturn, entering what Rea calls a "danger zone" where dealers and advisors are quietly recalibrating as speculation dries up and confidence wanes. The episode examines how pricing mechanisms that once held the market together have broken down, affecting everyone from mega-galleries to emerging dealers.