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A series of significant developments occurred across the global art industry this week. Expo Chicago announced a scaled-back edition under new director Kate Sierzputowski, while the Outsider Art Fair revealed its exhibitor list. A long-lost Renaissance portrait by Sofonisba Anguissola resurfaced at the Winter Show. Christie's will sell the collection of the late MoMA trustee Barbara Jakobson, featuring works by Jeff Koons and others. Bonhams made a key hire, and Sotheby's priced a major art-backed securitization. In gallery news, Alissa Friedman returned to Salon 94, Mary Cork joined Lehmann Maupin London, and several artists gained new representation, while New York's Francis Irv gallery announced its closure.

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Artnet News, in collaboration with Morgan Stanley, analyzed auction data from the Artnet Price Database to assess the state of the European Old Master market since 2018. The investigation explores how efforts to contemporize Old Masters—through juxtapositions at art fairs like TEFAF and Masterpiece London, and gallery shows such as David Zwirner's 'Endless Enigma'—have correlated with market trends for Contemporary and Ultra-Contemporary artists whose work is visibly influenced by classical European art. The report also examines the impact of living artists inspired by Old Masters, suggesting that restricting analysis to historical works alone may underestimate their ongoing influence on the art market.

Michaelina Wautier Market Appraisal

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The 17th-century Flemish Baroque painter Michaelina Wautier is experiencing a significant rediscovery following centuries of obscurity and misattribution. Long overshadowed by her male contemporaries and her brother Charles, Wautier's diverse oeuvre—ranging from still lifes to monumental allegorical scenes—is being re-evaluated through major exhibitions at the Kunsthistorisches Museum in Vienna and the Royal Academy of Arts in London. This scholarly revival is correcting the historical record, as works previously attributed to artists like Artemisia Gentileschi are being rightfully returned to her catalog.

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A rediscovered 16th-century portrait by Sofonisba Anguissola, titled *Portrait of a Canon Regular* (1552), is being shown at the Winter Show at the Park Avenue Armory in New York. The painting was found in a private collection in Durham, North Carolina, after being known only through an old black-and-white photo at the Frick Art Reference Library. Old Master dealer Robert Simon is acting as the owners' agent, and the work is priced at $450,000.

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Sotheby's underperformed with the highly anticipated Saunders Collection of Old Masters, which was estimated at $80–120 million but sold for only $65.4 million, falling $14.6 million short of its low estimate. The sell-through rate was a dismal 58%, with 16 of 43 lots failing to sell in the standalone auction. Christie's also saw disappointing results, with a smaller sale totaling $6.89 million, 17% below its low target. The collection, amassed by the late banker Thomas A. Saunders III and his wife Jordan, was billed as the most valuable Old Masters collection ever to come to auction.

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Dealer Gordon VeneKlasen has announced plans to relaunch his gallery under his own name, VeneKlasen Gallery, after splitting from Michael Werner Gallery. He will take over the New York and London locations, while Werner's Los Angeles outpost will close. Justine Birbil and Kadee Robbins have been promoted to partners. The gallery will debut at Art Basel Qatar with a solo presentation by Issy Wood and will host inaugural exhibitions of works by Sigmar Polke. Separately, a rare 16th-century portrait by Sofonisba Anguissola, "Portrait of a Canon Regular" (1552), has been rediscovered and is on view at the Winter Show at Manhattan's Park Avenue Armory, at the booth of dealer Robert Simon. The work was found in a private collection in Durham, North Carolina, after being thought lost.

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.

Artists and Organizations Rally Against Censorship in Open Letter

Hundreds of arts organizations and professionals have signed an open letter denouncing censorship, titled 'Cultural Freedom Demands Collective Courage: A Nation-Wide Statement of Values and Principles for the Field of Arts and Culture.' The statement, issued by the National Coalition Against Censorship (NCAC) and New York’s Vera List Center for Art and Politics, responds to the National Endowment for the Arts terminating over $27 million in grants. This follows President Donald Trump's second term, which has banned diversity, equity, and inclusion initiatives in federal government, forcing DEI offices at the National Gallery of Art in Washington, D.C., and the Smithsonian Institution to close. The White House also published a list of artworks at the Smithsonian it deems to feature 'improper ideology.' The letter aims to rally cultural institutions against increasing pressure on programming decisions.

Rediscovered portrait by the Renaissance’s leading woman artist goes on display at the Winter Show

A rediscovered portrait by Sofonisba Anguissola, a pioneering female artist of the Italian Renaissance, has gone on public display for the first time in over a century at the Winter Show in New York. The painting, *Portrait of a Canon Regular* (1552), is Anguissola's earliest signed and dated work and was long considered lost until it was found in a private collection in North Carolina after being referenced in a 2019 monograph. It is being presented by Robert Simon Fine Art.

Lacma acquires self-portrait by long-overlooked female Old Master

The Los Angeles County Museum of Art (Lacma) has acquired 112 objects through six new acquisitions made during its 39th Collectors Committee Weekend, which raised over $2.5 million from 62 members. Highlights include a rediscovered self-portrait by Virginia Vezzi (1600-38), a long-overlooked female Old Master; works by Japanese American artists Chiura Obata, Tokio Ueyama, and Mine Okubo created during the Exclusion Era; colonial-era paintings from Mexico by Manuel de Arellano; a photographic triptych by Hiroshi Sugimoto; and the Mary Hunt Kahlenberg Collection of 101 Indonesian textiles dating to the early 15th century.

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Newly released emails between Jeffrey Epstein and journalist Michael Wolff reveal Epstein speculating about the $450 million sale of Leonardo da Vinci's *Salvator Mundi* and its possible connection to Donald Trump. In a May 2019 exchange, Epstein suggested that the painting's sale by Russian oligarch Dmitry Rybolovlev to Saudi Crown Prince Mohammed bin Salman might have been a covert bribe to secure Trump's support on Middle Eastern policy, specifically his veto of a congressional resolution against U.S. involvement in the Yemen war. Epstein also noted that his "art guy" thought the painting wasn't very good.

Who Were the Best-Selling Old Masters at Auction in 2025?

The article reports on the best-selling Old Master paintings at auction in 2025, highlighting Canaletto's *Venice, the Return of the Bucintoro on Ascension Day*, which sold for $43.8 million at Christie's—three times the next-highest Old Master price. Other notable sales include a $7.55 million triptych of Jesus performing miracles by an unknown 15th-century artist, noted for its exceptional condition and quality.