Sellers at the May Marquee Auctions Revealed, Bogotá’s MAMBO Museum Loses Its Director, and More: Morning Links for May 4, 2026

The spring auction season is underway, with ARTnews revealing that Jean-Michel Basquiat's 1983 painting *Museum Security (Broadway Meltdown)* is headed to Sotheby's contemporary art sale on May 14 with a $45 million estimate, consigned by Joahn Sayegh-Belchatowski. Christie's postwar and contemporary day sale includes a collection dubbed "A Matter of Seeing" from Ronald Lauder. Meanwhile, Lévy Gorvy Dayan is testing a new auction-gallery hybrid model, and British billionaire Joe Lewis plans to sell another $200 million in art at Sotheby's in June. In other news, Martha Ortiz has left the Museo de Arte Moderno de Bogotá (MAMBO) following harassment allegations, after the earlier dismissal of artistic director Eugenio Viola. The article also covers a planned Derrick Adams portrait of Koyo Kouoh in Venice, the death of cartoonist Nicole Hollander, a free-entry stunt by Maurizio Cattelan at Fondation Beyeler, a Christo installation at Gagosian London, and a report on Italian Prime Minister Giorgia Meloni's political interference in cultural institutions, including the Venice Biennale.

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New York's spring auction season concluded with a dramatic five-day marathon across Sotheby's, Christie's, and Phillips, generating a combined $2.2 billion. Sotheby's led with $1.17 billion in total sales, fueled by Gustav Klimt's *Portrait of Elisabeth Lederer* (1914–16) from the estate of Leonard A. Lauder, which sold for $234.6 million—a single work accounting for 20% of Sotheby's total. Christie's followed with $962.6 million, and Phillips added $92.1 million. Notable highlights included Frida Kahlo's *El sueño (La cama)* (1940) achieving $54.7 million, a new record for the artist and the highest price for a female artist at auction in raw dollars, and a triceratops fossil named Cera selling for $5.4 million at Phillips.

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The second edition of Taipei Art Week has drawn a large crowd, anchored by Art Taipei—Asia's longest-running art fair—and the 14th Taipei Biennale. Galleries have raised their ambitions, with pop-up shows, talks, and collectors' parties filling the city. However, Taiwan's art market faces significant headwinds: art imports fell 15.2% in 2024, Ravenel's spring auction sales plummeted from $14.6 million in 2020 to $3.6 million in 2025, and Taipei Dangdai announced it would cease operations after its sixth edition. Geopolitical tensions with China have reduced Chinese collector participation and visitor numbers at the National Palace Museum.

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New York's marquee spring auctions in May 2025 tested the theory that strong supply drives demand, but results were mixed. Alberto Giacometti's *Grande tête mince* (1955), estimated at $70 million, failed to sell at Sotheby's, while Christie's withdrew a $30 million Andy Warhol electric-chair painting. The top lot of the week was Piet Mondrian's *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* (1922), which fetched $47.6 million from the collection of late Barnes & Noble founder Len Riggio. However, Christie's pre-sold 93% of that collection's value to third-party backers, and the house fell $26 million short of its guaranteed amount. Sotheby's avoided financial risk on the Giacometti by not guaranteeing it, still earning $34.4 million in buyer's premiums. A new record for a living woman artist was set when Marlene Dumas's *Miss January* (1997) sold for $13.6 million at Christie's, though adjusted for inflation it fell short of Jenny Saville's 2018 record.

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Toronto-based Heffel Fine Art Auction House will host its Spring Auction on May 22, 2025, featuring a two-part sale: the Postwar and Contemporary Art sale at 5 p.m. EST, followed by the Canadian, Impressionist, and Modern Art sale at 7 p.m. EST. The auction highlights Canadian art from the past century, including works by Group of Seven members like Lawren Harris and Tom Thomson, as well as Refus Global artist Jean-Paul Riopelle. Notable lots include Harris's *Northern Lake* (1926) estimated at $2–3 million CAD, Riopelle's *Sans titre* (1952) with estimate upon request, and Thomson's *Autumn, Algonquin Park* (1914) estimated at $1–1.2 million CAD.

A major Jean-Michel Basquiat painting is expected to sell for more than $5 million in May.

A major Jean-Michel Basquiat painting is expected to sell for more than $5 million in May.

A major painting by Jean-Michel Basquiat, titled *Portrait of the Artist as a Young Derelict*, will be auctioned at Christie’s in New York this May. The 1982 work is a prime example of the artist's raw, graffiti-infused style and is expected to fetch over $5 million. This sale is part of Christie’s marquee spring auctions, highlighting continued strong market demand for blue-chip contemporary art.

Sotheby’s Opens the London Spring Marquee Sales With a £131M White-Glove Night

Sotheby’s London kicked off the spring auction season with a "white-glove" Modern & Contemporary Evening Sale, totaling £131 million ($176 million). Despite significant geopolitical instability and market anxiety following recent escalations in the Middle East, the auction achieved a 100 percent sell-through rate across 54 lots. Key highlights included works by Andy Warhol, a Claude Monet landscape once owned by John Singer Sargent, and a Jean-Michel Basquiat painting that sold for £3.7 million after a mid-sale renegotiation.

School of London Masterworks Drive Sotheby’s £131M Modern & Contemporary Sale

Sotheby’s kicked off the spring auction season in London with a Modern and Contemporary Evening Sale that generated £131 million ($177.4 million) including fees. The auction saw a high 98 percent sell-through rate, bolstered by the sale of four significant works from the collection of financier Joe Lewis. The top lot was Francis Bacon’s 1972 "Self-Portrait," which fetched £16.03 million, while a new auction record was established for Leon Kossoff.

A young Richter’s painting of an even younger Polke and a once-grimy Brazilian landscape by Frans Post: our pick of the May auctions

The article previews five major lots coming to auction in New York in May 2025, spanning Phillips, Sotheby's, Christie's, and Bonhams. Highlights include Gerhard Richter's 'Mann mit zwei Kindern' (1966), a portrait of Sigmar Polke estimated at $4–6 million; Frans Post's 'View of Olinda with Ruins of the Jesuit Church' (1666), estimated at $6–8 million and expected to break the artist's record; Andy Warhol's 'Big Electric Chair' (1967–68), estimated around $30 million; and Fernando Botero's 'The Bed' (1982), estimated at $700,000–$1 million. Each work is making its auction debut or is a rare market appearance.

Poly Auction Hong Kong Spring Auctions 2026: High Jewels and Watches, Modern and Contemporary Art Auctions to Be Held on 6 April

Poly Auction Hong Kong has announced its Spring 2026 auction series, scheduled to take place from April 6 to April 8 at the Shun Tak Centre. The sales feature a diverse array of categories including Modern and Contemporary Art, Chinese Ceramics, Chinese Paintings, and High Jewelry and Watches. Highlighting the contemporary selection is Liu Wei’s 1995 masterpiece "You Like Pork?", a rare work previously exhibited at the Venice Biennale, alongside a significant 1960s "White period" abstract canvas by Zao Wou-Ki.

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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.

Lawren Harris leads the way in Heffel’s all-Canadian marquee spring auctions in Toronto

Heffel Fine Art Auction House held its spring sales in Toronto on May 22, featuring an all-Canadian lineup of 85 lots with an estimated value of C$18m to C$22m. Despite rain and economic concerns, the two-session sale achieved C$22m total, led by Lawren Harris's *Northern Lake* (1926) at C$3.1m. Other highlights included record-breaking prices for Franklin Carmichael, Arthur Lismer, and A.Y. Jackson, plus strong results for Emily Carr and Tom Thomson works.

Five Big Lots to Watch as New York’s Spring Auctions Spring Into Action

New York's May auction season has begun, with Christie's, Sotheby's, and Phillips presenting major works by artists including Jean-Michel Basquiat, Robert Rauschenberg, Ed Ruscha, Cecily Brown, and Marlene Dumas. Highlights include Basquiat's 'Baby Boom' (estimate $20–$30 million) at Christie's, a Basquiat 'Untitled' (1981) at Sotheby's, and Marlene Dumas' 'Miss January' (1997), which could break the auction record for a living woman artist. Sotheby's will also feature works from the late dealer Barbara Gladstone's collection, while the San Francisco Museum of Modern Art is deaccessioning Frank Stella's 'Adelante' and other works to fund new acquisitions.

Art March Hong Kong | 8 Kusama pumpkins head to auction during Basel week – here’s every one of them

Eight signature pumpkin works by Yayoi Kusama are set to headline the spring auction season in Hong Kong, coinciding with Art Basel week. Major auction houses including Sotheby’s, Christie’s, and Bonhams are offering a diverse range of these iconic motifs, featuring everything from a massive two-meter-tall fiberglass sculpture to rare red and yellow canvases. Notable highlights include a unique 2015 sculpture at Sotheby’s with a high estimate of HK$60 million and a rare red pumpkin painting at Bonhams.

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Christie’s, Sotheby’s, and Phillips collectively fell short of their spring auction expectations, bringing in just over $1 billion in evening sales against estimates of $1.2 billion to $1.6 billion. The hammer total of $837.5 million was down from $1.4 billion in the same week last year and $1.8 billion in 2022, with a notable drop in high-priced works and fading interest in emerging artists. The top ten lots generated $278.6 million, a 63 percent decline from 2022, and only a handful of artists under 45 appeared in evening sales, compared to previous years.

Art Market Minute: March 2

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Frieze Los Angeles has concluded with reports of strong sales, with some dealers noting higher transaction volumes than at Art Basel Miami Beach. This surge in activity was accompanied by a record number of satellite events, signaling a growing interest in alternative fair models and a localized boost for the Southern California art scene.

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Cowley Abbott's spring live auction, 'Select Masterworks of Canadian and International Art,' will take place on May 28, 2025, featuring over 90 lots. Highlights include works by Marcelle Ferron (Sans titre, 1964, est. $300,000–$400,000), Andy Warhol (Ladies and Gentlemen (Ivette and Lurdes), 1975, est. $70,000–$90,000), Emily Carr (Fir Trees, ca. 1935, est. $275,000–$375,000), Henri Le Sidaner (L’Escalier, Beauvais, ca. 1900, est. $100,000–$150,000), and Fernand Léger (Composition, 1950, est. $30,000–$50,000). The sale spans Pop art, Canadian Modernism, Post-Impressionism, and abstraction.

RELEASE: Christie's Spring Auction Series in New York Achieves a Combined Total of $1.79 billion - Christie's

Christie’s concluded its Spring auction series in New York with a historic total of $1.79 billion, bolstered by the landmark sale of the Peggy and David Rockefeller Collection. The two-week marathon featured high-profile evening and day sales that attracted over 85,000 visitors and bidders from 52 countries. Significant results included record-breaking prices for artists such as Kazimir Malevich, Constantin Brancusi, and Joan Mitchell, alongside major works by Francis Bacon and Vincent van Gogh.

Records for English painting and Fontana's cuts push the auction

Sotheby’s London kicked off the spring auction season with a robust modern and contemporary art evening sale, totaling £131.7 million and achieving a rare 100% sell-through rate. Despite global political uncertainty, the auction saw aggressive bidding for British post-war masterpieces and Italian avant-garde works. The event also marked the debut of Sotheby’s new commission structure, which lowers fees for high-value lots to incentivize larger transactions.

11 New Artist Auction Records Set in May 2025

During New York's spring auction week starting May 12, 2025, major houses Sotheby's, Christie's, Phillips, and Bonhams collectively brought in $1.27 billion, slightly above the estimated $1.25 billion but down 17% from the previous year. The top lot was Piet Mondrian's *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* (1922) at $47.56 million, but the mood was tense as trophy works like Andy Warhol's *Big Electric Chair* (1967–68) were withdrawn and several top lots, including Alberto Giacometti's *Grande tête mince* (1955), failed to sell. Amid this volatility, 11 new artist auction records were set, five of which were for women artists, notably Marlene Dumas's *Miss January* (1999) selling for $13.65 million—the most expensive work by a living woman artist at auction.

Marquee May auctions in New York come at a volatile moment

New York's marquee spring auctions, beginning May 12, are facing significant headwinds from President Donald Trump's second-term policies, particularly the 'Liberation Day' tariffs and resulting stock-market volatility. Phillips deputy chairman Robert Manley confirms at least one eight-figure work was pulled from sale due to tariffs. The combined Modern and contemporary auctions at Christie's, Sotheby's, and Phillips carry an estimated $1.1bn to $1.5bn in art—the lowest total estimate for spring sales since 2010, roughly $250m lower than May 2024. No nine-figure-estimate lots have been consigned, and the number of catalogued lots is the lowest since 2007 (excluding pandemic and recession years). Single-owner collections dominate, with Christie's securing the $200m Leonard and Louise Riggio collection, including a Piet Mondrian estimated at $50m, and works from Anne and Sid Bass. Sotheby's offers collections from dealers Daniella Luxembourg and others.

Poly Auction Hong Kong Spring Auctions 2026 concluded on a high note

Poly Auction Hong Kong's Spring 2026 season concluded with a total of HKD 255 million in sales, representing a 23% increase over the previous autumn cycle. The auction was headlined by Liu Wei’s 1995 painting "You Like Pork?", which fetched HKD 27.6 million, followed by a Ming Dynasty 'Grapes' foliate-rim dish that sold for HKD 24.6 million. The event saw participation from collectors across 17 countries, with significant growth in the Modern and Contemporary Art and Jewels and Watches sectors.

67 galleries will once again take over the Shed for Frieze New York

The Frieze New York art fair will return to the Shed in Manhattan for its sixth edition this May, featuring 67 galleries. This marks the first edition since the fair's parent company was acquired by Ari Emanuel's Mari. The event will coincide with several other New York art fairs and major spring auctions, creating a competitive landscape for collectors' attention as it follows closely on the heels of the 2026 Venice Biennale opening.

India Modern Art Boom Spreads Through Spring Auctions

The Indian modern art market has reached a significant milestone as a 19th-century oil painting by Raja Ravi Varma sold for nearly $18 million at auction. The sale of 'Yashoda and Krishna' reportedly involved high-profile Indian tycoons from the pharmaceutical and consumer industries acting as both buyers and sellers, signaling a robust domestic appetite for blue-chip Indian masterpieces.