Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

The contemporary art market has declined for the fourth consecutive year, with auction sales for postwar and contemporary works falling to $4.5 billion in 2025 from a peak of $8.5 billion in 2021. Simultaneously, the market has seen a significant rebound in more established categories, with auction sales of Impressionist and Post-Impressionist works rising 47% and Old Masters climbing 30% last year.

What We Miss When We Talk About Giacometti

This article explores a critical reevaluation of Alberto Giacometti’s career, specifically focusing on the decade between 1935 and 1945. While Giacometti is globally recognized for his spindly, post-war 'Existentialist' figures, art historian Joanna Fiduccia’s new book, *Figures of Crisis*, argues that his mid-career departure from Surrealism to study human likeness was not a mere transition but a profound response to the political crises and nationalism of interwar France.

San Francisco’s Contemporary Jewish Museum Plans to Sell Building

The Contemporary Jewish Museum in San Francisco has announced plans to sell its iconic Daniel Libeskind-designed building in the Yerba Buena Gardens neighborhood. The institution has been closed to the public since December 2024, drastically reduced its staff and budget, and aims to use the sale to stabilize its finances, reduce debt, and ensure its long-term survival.

Hampshire College, Whose Alumni List Includes Many Well-Known Artists, to Close After 51 Years

Hampshire College in Amherst, Massachusetts, has announced it will officially close following the fall 2026 semester, ending 51 years of operation. The decision follows a period of significant financial instability, including a reported $20 million debt and a failure to meet enrollment targets. The college has established agreements with regional institutions, such as Smith College and Bennington College, to allow current students to complete their degrees elsewhere.

Is Dubai’s loss Palma's gain? Newly revived Mallorca fair offers ’sun, sand and safety’ for wealthy Germans

The Art Cologne Palma Mallorca fair has been successfully revived at the Palau de Congressos, attracting 88 exhibitors with a heavy concentration of Spanish and German galleries. The event capitalizes on Mallorca's status as a premier second-home destination for wealthy Europeans, particularly Germans, and benefits from significant local government backing of €500,000. Early sales reports indicate strong performance in the lower and mid-market price brackets, with artists like Neo Rauch and Brian Eno finding quick buyers, though seven-figure works by Anselm Kiefer and Georg Baselitz moved more slowly.

Guillaume Cerutti Departs Pinault Collection, Rediscovered Napoleon Hat on View, and More: Morning Links for March 27, 2026

Guillaume Cerutti has been dismissed from his role as president of the Pinault Collection, the vast private art collection of French billionaire François Pinault, after only 13 months in the position. The departure is sudden and unexplained, with the 89-year-old Pinault reportedly set to assume the duties himself. Separately, a long-forgotten bicorn hat belonging to Napoleon Bonaparte has been rediscovered in storage and will be displayed at the Musée Condé in France.

New York Academy of Art Donates $66,000 Linked to Jeffrey Epstein

The New York Academy of Art has donated $66,000 in funds originally received from convicted sex offender Jeffrey Epstein to Girls Educational and Mentoring Services (GEMS), a nonprofit supporting sexually exploited girls. The move redirects all donations the school accepted from Epstein after his 2008 conviction. The academy's board chair, Eileen Guggenheim, who solicited the funds, will retire from her role a month early on April 1, following renewed scrutiny of the institution's Epstein ties.

Works from Marian Goodman’s Collection to Anchor Christie’s May Sales

Christie’s has announced that it will auction works from the personal collection of the late legendary dealer Marian Goodman during its May marquee sales in New York. The collection is headlined by seven paintings by Gerhard Richter, including the iconic 1982 work *Kerze (Candle)*, which carries an estimate of $35 million to $50 million. The total group of works from Goodman’s Manhattan home is expected to realize approximately $65 million.

Nine Lessons on My Path From Engagement to Leadership

The article is an excerpt from the forthcoming field resource 'Curating Engagement,' featuring a first-person reflection by an arts professional. The author outlines nine lessons learned over two decades of practice, moving from engagement-focused roles to institutional leadership. Key lessons emphasize curiosity as a foundational practice, engagement as a form of service to communities rather than extraction, and the importance of site and history as collaborators in curatorial work.

The Must-See Exhibitions in Milan During Art Week 2026

Le mostre da non perdere a Milano durante i giorni dell’Art Week 2026

Milan Art Week 2026 features a series of major solo exhibitions across the city's premier contemporary art institutions. Fondazione Prada is hosting site-specific installations by Mona Hatoum exploring global instability alongside Cao Fei’s multimedia investigation into the technological revolution of agriculture. Meanwhile, Pirelli HangarBicocca presents Benni Bosetto’s architectural exploration of the female body and Rirkrit Tiravanija’s interactive examination of authorship and communal space.

Dartmouth Students Renew Calls to Remove Leon Black’s Name From Arts Center

Students at Dartmouth College have intensified their campaign to remove billionaire collector Leon Black’s name from the school’s visual arts center. The renewed push follows the release of Department of Justice files detailing Black’s extensive financial ties to the late sex offender Jeffrey Epstein, including $170 million in payments for tax and estate advice. While Black has denied all allegations of misconduct and his legal team maintains he was unaware of Epstein’s criminal activities, student leaders are citing the college's recent decision to strip César Chávez’s name from a fellowship as a precedent for moral accountability.

Art Dubai announces updated gallery list for postponed 2026 edition

Art Dubai has released a revised exhibitor list for its 2026 edition, which was rescheduled to May 15–17 following regional instability caused by the US-Israel war in Iran. The fair will feature 50 galleries at Madinat Jumeirah, down from its original roster after approximately 75 participants—including major Indian and Western galleries—withdrew due to scheduling conflicts and logistics. To support those remaining, the fair has introduced a flexible fee structure where galleries pay a percentage of sales capped at the original stand cost.

Guggenheim Museum Appoints Melissa Chiu as Next Director

The Solomon R. Guggenheim Museum has appointed Melissa Chiu as its new director, effective September 1. Chiu joins the New York flagship after a 12-year tenure at the Smithsonian’s Hirshhorn Museum and Sculpture Garden, where she was credited with doubling attendance and significantly increasing fundraising. Her appointment is part of a leadership restructuring by Guggenheim Foundation Director and CEO Mariët Westermann, who will shift her focus toward the foundation's international outposts, including the upcoming Abu Dhabi location.

The Best April Fools’ Jokes in the Art World This Year

Hyperallergic compiled a list of notable April Fools' Day pranks executed by major arts and cultural institutions in 2025. The jokes included the Morgan Library and Museum pretending to give its ornate interior a cheap "Landlord Special" makeover, the New York Public Library announcing it would replace its iconic lion statues with beaver sculptures, and the Brooklyn Museum and Brooklyn Botanic Garden proposing a whimsical, amusement park-style tunnel connecting their campuses.

Monumental Bellini Altarpiece Undergoes Major Restoration in Public View

Giovanni Bellini's monumental 15th-century altarpiece, the San Giobbe altarpiece, is undergoing its most extensive restoration in over 500 years at the Gallerie dell'Accademia in Venice. Deemed too fragile to move, the two-year, €500,000 project will stabilize the cracked wood panel and analyze pigments using advanced imaging, all performed behind glass in full public view.

Dealer Yves Bouvier to stand trial in Paris over missing Picassos

Swiss dealer Yves Bouvier has been ordered to stand trial in a Paris criminal court over the alleged disappearance of dozens of works by Pablo Picasso from a storage unit. The unit was rented by Picasso's stepdaughter, Catherine Hutin, from Bouvier's company. Bouvier faces charges of concealing stolen goods and laundering, while his business partner, Olivier Thomas, is charged with breach of trust, embezzlement, and laundering. The investigation, triggered by Hutin's 2015 complaint, found that nearly 70 works went missing, with some, including two portraits and 60 drawings, later discovered to have been sold by Bouvier to Russian collector Dmitri Rybolovlev for €36 million.

A New Exhibition at the British Museum Dismantles the Popular Understanding of Samurai

The British Museum has opened a major exhibition titled 'Samurai,' which challenges the widespread, simplified portrayal of samurai as solely honor-bound, hyper-violent warriors. The show, curated by Rosina Buckland, presents them as a complex social class who were also bureaucrats, administrators, and cultural figures, emphasizing their roles during periods of peace and governance.

Rare Portraits Reveal How Elizabeth I Turned Image Into Power

Philip Mould & Company in London is hosting a new exhibition titled "Elizabeth I: Queen and Court," featuring four rare portraits of the Tudor monarch alongside depictions of her closest advisors and political rivals. The show traces Elizabeth's visual evolution from a pious young princess to a formidable, iconographic ruler, highlighting how she utilized fashion and symbolism to solidify her authority and manage public perception during a period of immense political and religious transition.

Lorna Simpson’s David Adjaye–Designed Brooklyn Home and Studio Remains On the Market—At a Much-Reduced Price

Artist Lorna Simpson has significantly reduced the asking price for her Brooklyn home and studio, located at 208 Vanderbilt Avenue in Fort Greene. Originally listed for $6.5 million in August 2025, the 3,300-square-foot townhouse is now priced at $5 million following months on the market. The property, which features a double-height great room and floor-to-ceiling windows, was custom-built in 2006 for Simpson and her then-husband, artist James Casebere.

Our Critics Disagree on MoMA PS1’s Greater New York, a Wide-Ranging Survey Defined by a Fascination with Fragility

MoMA PS1 has launched the sixth edition of Greater New York, its signature quinquennial survey featuring 53 artists living and working across the city's five boroughs. Marking the institution’s 50th anniversary, this iteration was organized entirely by the museum’s internal curatorial staff rather than outside contributors. The exhibition moves away from the introspective, surrealist themes of the pandemic-era 2021 edition, focusing instead on the social fabric of the city and the systemic challenges facing its residents.

Greek TV Auctioneer Arrested for Trafficked Artworks, Paul Klee’s ‘Angelus Novus’ Stuck in Israel: Morning Links for March 24, 2026

Greek television art auctioneer Giorgos Tsagarakis was arrested in Athens on felony charges for trafficking forged and stolen artworks and antiquities. Authorities dismantled his alleged counterfeit network after a social media post served as evidence, seizing hundreds of paintings, many believed to be forgeries, along with artifacts and cash. Collectors had grown suspicious after recognizing their own stolen items on his TV show.

Desperate, Scared, But Social at UC Irvine Langson Orange County Museum of Art

The group exhibition "Desperate, Scared, But Social" at the UC Irvine Langson Orange County Museum of Art (Langson IMCA) explores the complexities of contemporary social dynamics and collective anxiety. The show brings together diverse artistic perspectives to examine how individuals navigate a landscape defined by political instability, environmental concerns, and the pervasive influence of digital connectivity.

Art Dubai Unveils Leaner ‘Special Edition’ Built Around Regional Core

Art Dubai has announced a streamlined "special edition" for its 2026 iteration, featuring a reduced roster of approximately 75 exhibitors. Scheduled for May 15–17 at Madinat Jumeirah, the fair is pivoting toward a regional core, with 60 percent of participants hailing from the Gulf and Southwest Asia. To address economic pressures and regional instability, the fair is implementing a novel risk-sharing financial model where booth costs are partially tied to sales performance.

Dealer David Schrader’s Case for a More Fluid Art Market: ‘Volume Begets Volume’

Art dealer David Schrader is launching a new secondary-market gallery in New York with partners Marc Glimcher and Emmanuel Di Donna. He argues the current market stabilization and renewed optimism, especially in the secondary sector, provide a favorable backdrop for their streamlined, focused venture that aims to avoid the overhead of historic gallery models.

Marc Restellini’s ‘atom bomb’ of a Modigliani catalogue raisonné is finally published

After nearly three decades of legal disputes and intense research, Marc Restellini has finally published his definitive catalogue raisonné of Amedeo Modigliani’s oil paintings. Released through the Institut Restellini and Yale University Press, the six-volume work utilizes forensic scientific analysis, spectrometry, and archival evidence to authenticate the artist's oeuvre. The publication includes 100 newly authenticated works while excluding 15 previously accepted paintings due to a lack of definitive evidence, marking a shift from connoisseurship to a fact-based methodology.

Overdue payments to artists, landlords and workers at a popular gallery reflect pressures squeezing the dealer sector

The Hole, a prominent gallery with locations in New York and Los Angeles, is facing significant financial distress characterized by shuttered spaces and mounting legal disputes. Following a period of rapid expansion fueled by the 2021–2023 art market boom, the gallery has permanently closed its West Hollywood location and is currently facing multiple lawsuits from Manhattan landlords alleging over $180,000 in unpaid rent and taxes. Founder Kathy Grayson attributes the crisis to a sharp decline in sales starting in late 2023, which has left the gallery struggling to pay artists, staff, and creditors.

Craig Jun Li: Scrapping the Camera

Artist Craig Jun Li's solo exhibition features collagist wall-works and installations that deconstruct photographic technology. Works like the 2025 silicone sheets incorporate altered dye-transfer prints, Polaroids, and actual camera parts like SX-70 film cartridge springs, redirecting focus from pictorial representation to the mechanical apparatus of image-making.

Art History Talk: The Work of Félix Gonzalaz-Torres, April 30

The Figge Art Museum in Davenport, Iowa, is hosting a special Art History Talk on April 30 focused on the work of the late Cuban-American artist Félix González-Torres. The event is organized in conjunction with the museum's current presentation of the artist's iconic installation "Untitled" (L.A.). The lecture will explore González-Torres's unique approach to conceptual art, characterized by the use of commonplace materials, audience interaction, and the intentional instability of the art object.

Blazing Light: Photographs by Mimi Plumb at the High Museum

The High Museum of Art has launched the first solo museum exhibition for American photographer Mimi Plumb, titled "Blazing Light." Spanning five decades of work, the exhibition features over 100 photographs across three major series: "The White Sky," "Landfall and The Golden City," and "The Reservoir." These gritty, black-and-white images document the evolving landscape of the American West, specifically California, while capturing the psychological tension of a society grappling with environmental decay and economic instability.

The Story of Art + Water

Author Dave Eggers and artist JD Beltran have launched Art + Water, a new initiative located at Pier 29 in San Francisco designed to bypass the traditional art school model. The program seeks to resurrect the historical artist-apprentice and atelier systems, providing students with practical skills and studio space without the prohibitive costs of modern higher education. By partnering with the Port of San Francisco and the Community Arts Stabilization Trust, the founders aim to revitalize the city's waterfront while offering a sustainable alternative to the current debt-heavy academic landscape.