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stop making sense 2025 art market analysis

The article analyzes the chaotic and contradictory state of the global art market in 2025, a year marked by extreme volatility following President Donald Trump's return to office. Key events include strong sales at Frieze Los Angeles in February, a record $13.8 million sale of a painting by M.F. Husain at Christie's, and a sharp downturn after Trump imposed sweeping tariffs on major trading partners. Major auctions in May fell far short of expectations, with only $837.5 million hammered against estimates of up to $1.6 billion. Meanwhile, Art Basel expanded with a new Qatar fair, but sales at Art Basel Switzerland dropped over 35% from 2024. The year also saw a wave of gallery closures, including the sunsetting of Blum & Poe.

paint drippings art industry news jun 9

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.

paint drippings art industry news jul 14

This week's art industry news includes Art Basel appointing Egyptian artist Wael Shawky as artistic director of its first Middle East fair, Art Basel Qatar, running February 5–7, 2026. A new fair called Loading… debuts in Hudson, N.Y., during Upstate Art Weekend, while Vienna Contemporary names Abaseh Mirvali as artistic director. Bonhams offers material from Roy Lichtenstein's Hamptons home, and a legendary Le Birkin handbag sells for €8.5 million at Sotheby's Paris. Galleries see Hollis Taggart adding two artists, Adam Lindemann closing Venus Over Manhattan, and Berlin's Meyer Riegger and Paris's Galerie Jocelyn Wolff opening a joint Seoul gallery. Museums include the Zayed National Museum opening in Abu Dhabi, Shamim M. Momin named director of the Bronx Museum, and the Baltimore Museum of Art acquiring 150 new works. The Art Bridges Foundation and Crystal Bridges acquire 90 Indigenous artworks, and the Schirn Kunsthalle Frankfurt opens a temporary location. In legal news, DHS officials visited the National Museum of Puerto Rican Arts and Culture in Chicago.

david adjaye museums open without starchitect

René Magritte's surrealist masterpiece *La Magie Noire*, unseen on the market for nearly a century, will be auctioned at Sotheby's Paris later this month with an estimate over $8 million. The painting was originally purchased by the family of WWII resistance heroine Suzanne Spaak, who supported Magritte during a financially difficult period. Separately, three major museums designed by star architect David Adjaye—the Princeton University Art Museum, the Museum of West African Art in Benin City, and the Studio Museum in Harlem—are set to open this fall, but institutions are downplaying Adjaye's involvement following sexual misconduct allegations he denied in 2023. Other news includes Pace Gallery closing its Hong Kong space, Colnaghi opening in Riyadh, and the death of ARTnews owner Milton Esterow.

record 12 million at sothebys paris for recently discovered gentileschi

A recently rediscovered painting by Baroque artist Artemisia Gentileschi sold for €865,000 ($1.19 million) at a Sotheby's Paris auction, shattering the artist's previous auction record set in 1998. The work, which had been hidden for over 80 years in southern France, fetched nearly three times its presale estimate after being identified by Sotheby's Old Master department.

sothebys offers lost artemisia gentileschi masterpiece

A long-lost painting by the 17th-century Italian Baroque artist Artemisia Gentileschi, titled *Mary Magdalene in Ecstasy*, has been rediscovered and will be auctioned at Sotheby's in Paris on June 26. The work, previously known only from a single black-and-white photograph, was found in a private collection in the south of France and has not been publicly seen for 80 years.

pauline karpidas collection sothebys

The private collection of legendary collector and patron Pauline Karpidas, featuring masterworks by Salvador Dalí, René Magritte, and Les Lalannes, will be auctioned at Sotheby’s London this September. Spanning 250 lots from her eccentric London home, the collection is expected to fetch over £60 million ($81 million), the highest estimate ever placed on a single collection at Sotheby’s Europe. Karpidas, who has collected for 50 years and supported artists like Damien Hirst and Tracy Emin, sees herself as a temporary custodian and is passing the works to a new generation.

Spurs owner Joe Lewis to sell US$25m of School of London works at Sotheby’s

Billionaire Joe Lewis, the former owner of Tottenham Hotspur, is set to auction four significant works from the School of London at Sotheby’s London on March 4. The selection is headlined by a 1972 Francis Bacon self-portrait estimated at £8 million, alongside major paintings by Lucian Freud and Leon Kossoff. This marks the first time Lewis has publicly sold works from his renowned collection, which is estimated to be worth approximately $1 billion and is famously housed in part on his superyacht.

thomas kaplan rembrandt lion fractionalize collection

Sotheby's hosted a lunch in Paris for billionaire collector Thomas S. Kaplan, who is selling a Rembrandt drawing titled *Young Lion Resting* (ca. 1638–42) from his Leiden Collection. The drawing, with a high estimate of $20 million, will be auctioned in New York in February, with all proceeds donated to Panthera, the wild cat conservation charity Kaplan founded. Kaplan acquired the work in 2005 from the Herring gallery and has kept much of his collection anonymous, but is now stepping forward to support conservation and public access.

manny davidson collection sale results sothebys paris

Sotheby’s Paris raised €18.6 million ($21.5 million) from two live sales of the Manny Davidson collection this week, with a third online sale still ongoing. The collection, spanning nearly 500 lots, included rediscovered Old Masters, 18th-century gold enamel, and an automaton clock by James Cox. Highlights included Michael Sweerts’s *A young man wearing a turban holding an upturned roemer: the fingernail test* (1648–52), which sold for €1.6 million, and Joshua Reynolds’s *Self-Portrait, in doctoral robes* (ca. 1770), which fetched €838,200. The evening sale achieved 83% sell-through by lot, with most buyers from Europe and a third from the US.

manny davidson collection sale sothebys paris

Sotheby's Paris is selling "The Manny Davidson Collection: A Life in Treasures and Benevolence," a multi-owner sale of nearly 500 lots spanning Old Masters, 19th-century British paintings, 18th-century gold enamel, and decorative objects. Highlights include a rediscovered Michael Sweerts portrait estimated at €800,000–€1.2 million, a Thomas de Keyser portrait of a silversmith, and a Joshua Reynolds self-portrait study. The sale, which includes an evening auction on November 5 and an online component, was previewed by Sotheby's global head of private sales, Old Masters, Chloe Stead.

sothebys london to sell greatest collection of surrealism to emerge in recent history in september

Sotheby's London will auction the collection of British socialite, collector, and arts patron Pauline Karpidas on September 17 and 18. Described as the 'greatest collection of Surrealism to emerge in recent history,' it includes masterpieces by René Magritte, Salvador Dalí, Leonora Carrington, and Max Ernst, along with works by Andy Warhol, Pablo Picasso, and others. The sale is expected to fetch £60 million ($81 million), the highest estimate ever placed on a single collection at Sotheby's in Europe. Karpidas, who began collecting 50 years ago after meeting gallerist Alexander Iolas, views herself as a 'temporary custodian' for the artworks.

napoleon sale sothebys paris france famous antiques dealer

On Wednesday in Paris, Sotheby's auctioned a collection of Napoleonic artifacts from the private collection of prominent French antiques dealer Pierre-Jean Chalençon, generating €8.7 million ($9.6 million) against a €6 million estimate. The 112-lot sale included imperial furniture, Old Master paintings, and personal relics such as Napoleon's worn stockings and a copy of his marriage certificate. Highlights included a portrait by Jean-Baptiste Mauzaisse that sold for €863,600 (20 times its estimate) and the only surviving remnant of Napoleon's first will, which fetched €482,600. However, Napoleon's bicorne hat underperformed, selling for €355,600 against a €600,000 low estimate, amid provenance questions raised by French newspaper Le Figaro.

lalanne ostrich bar sothebys paris

François-Xavier Lalanne's functional sculpture "Ostrich Bar" (1965) sold for €11.1 million ($12.5 million) at Sotheby's Paris on May 20, far exceeding its €3–4 million estimate after an 11-minute bidding war. The piece, one of only six ever produced, features two porcelain ostriches gripping a metal shelf with a central egg for ice cubes; it was the artist's personal favorite, kept in his bedroom for over four decades. The sale took place within Sotheby's Important Design sale curated by model Betty Catroux.

Sotheby’s Paris Notches a $41 M. Modern and Contemporary Sale, Led by a $12 M. Monet Unseen for a Century

Sotheby’s Paris achieved a landmark result for its modern and contemporary art sale, totaling €35 million ($41 million) and surpassing its high estimate. The auction was headlined by two Claude Monet paintings that had been hidden from public view for roughly a century, including 'Vétheuil, effet du matin' (1901), which sold for €10.2 million ($12.1 million), setting a record for the artist at auction in France.

Two Monet Paintings, Unseen for a Century, Resurface at Auction

Two significant paintings by Claude Monet, unseen by the public for over a century, are being offered at auction by Sotheby's Paris. The works, *Les Îles de Port-Villez* (1883) and *Vétheuil, Effet du Matin* (1901), have been held in private collections for 115 and over 100 years respectively, with the former last exhibited in the early 20th century at Paul Durand-Ruel's New York gallery. Their combined estimates make them the most valuable Monet paintings to appear at auction in France since 2001.

Inside Pauline Karpidas’s Legendary Surrealist Collection Bound for Auction

The legendary Surrealist collection of the late Pauline Karpidas, a renowned art patron and collector, will be auctioned at Sotheby's London in September 2025. The sale spans approximately 250 lots from her eccentric London home, featuring masterworks by René Magritte, Leonora Carrington, Salvador Dalí, Max Ernst, and Les Lalannes. The collection is expected to fetch over £60 million ($81 million), the highest estimate ever placed on a single collection at Sotheby's Europe. Highlights include Magritte's 'La Statue volante' (1940–41), estimated at £9–12 million, and works acquired directly from the estates of Surrealist figures like André Breton and Paul Éluard.

christies sothebys auction houses luxury fashion art

Auction houses Christie's, Sotheby's, and Phillips are increasingly relying on luxury goods—such as handbags, jewelry, wine, and whiskey—to offset a sharp decline in fine art sales. Fine art sales at these houses fell 44% in the first half of 2025 compared to 2022, creating a roughly $3 billion gap. Luxury sales have surged to a 20.2% market share by value in 2025, with Christie's reporting a 30% rise in luxury sales to $468 million in the first half of 2025, and Sotheby's luxury sales topping $2 billion for three consecutive years. Notable sales include a record $10 million Hermès Birkin bag and a $72 million jewelry auction in Geneva.

Veteran Advisor Patti Wong on How the Auction Market Is Recalibrating

Veteran art advisor Patti Wong, who left Sotheby's after three decades to start her own firm, analyzes a significant recalibration in the auction market. She notes a new discipline among auction houses and buyers following the frothy post-pandemic years, with houses becoming more selective, relying heavily on third-party guarantees, and facing greater buyer scrutiny on provenance and estimates. She also highlights the industry's expansion into new geographies like Saudi Arabia and new categories like luxury goods.

sothebys records highest ever totals in france for surrealist and modern sales during art basel paris week

Sotheby's Paris achieved record-breaking totals for surrealist and modern art auctions during Art Basel Paris week, with combined sales of €89.7 million ($104 million) across its Surrealism and Its Legacy and Modernités sales—a 50 percent increase over the same event last year. The top lot was Amedeo Modigliani's *Elvire en buste* (1918-1919), which sold for €27 million ($31.3 million), the highest auction price for a painting by the Italian artist in France and the most valuable work ever sold by Sotheby's Paris. Other highlights included Modigliani's *Raymond* (1915) at €10.6 million, René Magritte's *La Magie Noire* (1934) at €10.7 million, and a complete set of Pablo Picasso's *Séries 347* etchings, which set a French auction record for any print by the artist.

francois xavier lalanne rhinoceros bar sothebys

Sotheby's design sale in New York achieved the second highest auction price ever for a work by French artist François-Xavier Lalanne, with his monumental sculpture desk *Grand Rhinocrétaire II* (1964) selling for $16.4 million—more than triple its $5 million high estimate. The piece, which opens into a fully functional writing desk, sparked a 13-minute bidding battle. Just weeks earlier, another Lalanne work, *Bar aux Autruches* (1967–68), sold for €11.1 million at Sotheby's Paris. The all-time record for Lalanne remains $19.4 million for *Rhinocrétaire I*, sold at Christie's Paris in 2023.

hermes birkin bag sale sothebys

The original Le Birkin handbag, crafted by Hermès in 1985 for actress and singer Jane Birkin, sold for €8.5 million ($10 million) at Sotheby's Paris on July 10. The bag, which shows visible wear from decades of use, sparked a 10-minute bidding war among nine buyers and was purchased by a private collector from Japan. It broke records as the most valuable handbag ever sold at auction and the highest-selling fashion item in Europe.

sothebys napoleons auction bicorne hat

Sotheby's will auction approximately 100 lots from the private collection of French antiques collector Pierre-Jean Chalençon on June 25 in Paris, including Napoleon Bonaparte's iconic bicorne hat (estimated at €800,000), a herald sword and stick from his 1804 coronation, his personal gold and ebony seal, worn stockings, and a portable camp bed. The sale, described as one of the most significant offerings of Napoleonic material ever to come to market, spans imperial furniture, Old Master paintings, and personal relics. Chalençon, who has amassed the collection over four decades, is reportedly selling the items to repay a €10 million loan from Swiss Life Banque Privée, though he has denied being deeply in debt.

Monet Paintings Hidden for 100 Years Resurface at an Auction in Paris

Two paintings by Claude Monet, hidden from public view for over a century, have resurfaced and been sold at Sotheby’s Paris. The works—*Les Îles de Port-Villez* (1883) and *Vétheuil, effet du matin* (1901)—represent distinct phases of Monet’s career, with the latter setting a record for a Monet sold at auction in France, fetching more than $12 million.

original prototype jane birkin hermes handbag sothebys

Jane Birkin's original Hermès Birkin handbag prototype has been consigned to Sotheby's Paris for sale in July. The all-black leather bag, commissioned in 1984 by then-Hermès CEO Jean-Louis Dumas in collaboration with Birkin, is a one-of-a-kind piece that has been in a private collection in France since 2000. Sotheby's has not set a public estimate, citing its unique status, and will communicate it privately to potential bidders. The bag was exhibited at Sotheby's Paris and Hong Kong, and previously at the Museum of Modern Art and the Victoria and Albert Museum.

Monet auction drives Sotheby’s Paris sale to 35 million euros

Sotheby's Paris sale on April 16, 2026, achieved a total of 35 million euros, an 84% increase over the previous year's equivalent auction. The event was dominated by two rediscovered Claude Monet paintings, with 'Vétheuil, effet du matin' setting a new auction record for the artist in France at 10.2 million euros. Strong results were also posted for works by Marc Chagall, Lucio Fontana, and Gerhard Richter, with 62.5% of lots selling above their high estimates.

Aste a Parigi: nuovo record per Claude Monet da Sotheby’s e per Ettore Spalletti da Christie’s

Sotheby's Paris achieved a new French auction record for Claude Monet on April 16, 2026, with 'Vétheuil, effet du matin' (1901) selling for €10.2 million, far above its €6-8 million estimate. The evening sale generated €35 million total, an 84% increase over the 2025 session, also featuring strong results for Marc Chagall, Lucio Fontana, and Rembrandt Bugatti. Meanwhile, Christie's Paris celebrated the 25th anniversary of its 'Thinking Italian' section with a complete sell-out of 11 lots, including a new auction record for Ettore Spalletti's 'Mobile' (1974) at €203,200. The overall Paris modern and contemporary art week reached a record €80.9 million, up 39% year-on-year.

One of Napoleon’s Sweaty Hats Was Just Rediscovered After a Century in Storage

A distinctive bicorne hat belonging to Napoleon Bonaparte, worn during his final exile on Saint Helena, has been rediscovered after more than a century in storage at the Condé Museum. Curators found the beaver pelt hat, made by his official hat-maker Poupard, while preparing for an upcoming exhibition, and its provenance has been confirmed through extensive study.

birkin bag buyer revealed shinsuke sakimoto

Shinsuke Sakimoto, CEO of luxury reseller Valuence Holdings, revealed himself as the buyer of a Hermès Birkin bag that sold at Sotheby’s Paris for €8.6 million ($10 million). The handmade black leather bag, originally commissioned in 1984 for actress Jane Birkin by then-Hermès CEO Jean-Louis Dumas, had been in a private French collection since its last auction in 2000. Sakimoto, previously anonymous, told the Khaleej Times that winning the bag was a personal milestone and a defining moment for his company.

frances most famous antiques collector hoping elon musk buys his napoleon collection at sothebys

Pierre-Jean Chalençon, described as France's most famous antiques collector, is selling around 100 lots of Napoleonic memorabilia at Sotheby's Paris on June 25. The collection includes Napoleon's bicorne hat, coronation sword, stockings, and camp bed. Chalençon has publicly expressed hope that Elon Musk will buy the entire collection to keep it together, calling Musk "the new Napoleon." The sale comes as Chalençon reportedly faces pressure to repay a €10 million loan from Swiss Life Banque Privée, which he used to finance his purchases and the acquisition of Palais Vivienne, his Parisian mansion turned Napoleon shrine.