Arghavan Khosravi creates intricate, surreal three-dimensional paintings that blend sculptural elements with painted canvases, featuring hidden details such as creased book spines, concealed female figures, and glowing bullets. In an interview at her Connecticut studio, she explains her preference for works that reveal themselves gradually over time, rather than shouting for attention.
Art Basel Miami Beach 2025 has lost at least eight exhibitors from its main sector since the fair released its initial list over the summer. Among the dropouts are blue-chip galleries including Miguel Abreu, Chantal Crousel, Alison Jacques, Peter Kilchmann, Edward Tyler Nahem, Luisa Strina, and Lia Rumma, as well as Shanghai's BANK gallery. Two galleries, Altman Siegel and Tilton, closed entirely between the list's release and the present. Kasmin changed its name to Olney Gleason and will still participate. Reasons for withdrawal vary: Miguel Abreu chose a solo presentation at Frieze Masters over Miami, citing a "less than stellar" experience the previous year and the burden of three fall fairs. The fair's contract imposes escalating financial penalties for late withdrawals, with galleries owing 50% of their fee after August 1 and 100% after October 1.
Phillips reported global sales of $927 million for 2025, a 10% increase over the previous year. Auction sales accounted for $725 million, while private sales surged 66% to $202 million. The auction house attributed growth to the launch of Priority Bidding, a platform offering reduced buyer's premiums for early bids, which led to a 275% increase in early selling bids. Phillips achieved an 88% sell-through rate by lot, with seven white-glove auctions and over 110 world auction records. Notable sales included a Patek Philippe watch for $17.6 million and Francis Bacon's *Study for Head of Isabel Rawsthorne and George Dyer* (1967) for $16 million. The luxury watch division generated $290 million, its highest annual total, and the Dropshop platform attracted many first-time and younger buyers.
Sydney Contemporary, Australia's largest contemporary art fair, reported A$16m (US$10.5m) in sales for its 2025 edition, marking a fourth consecutive year of decline. The fair, held from 11 to 14 September at Carriageworks, featured 116 exhibitors and nearly 500 artists, making it the largest edition to date. Despite the drop from last year's A$17.5m and A$23m in 2022, founder Tim Etchells remains committed, citing record visitor numbers of 26,440 and a shift in buyer behavior where sales often close weeks after the fair. Notable sales included a A$1.5m painting by Emily Kam Kngwarray, still under consideration by a collector. A new photography section, Photo Sydney, debuted and will return next year.
Shares in French luxury conglomerate LVMH fell roughly 7 percent following the release of its fourth-quarter results. The decline was driven by weaker-than-expected margins and a cautious outlook from leadership, and it triggered a sector-wide sell-off, pulling down shares of other major luxury firms like Kering, Moncler, and Hermès.