Cash-Strapped Hong Kong Arts Hub Saved—Plus a Rundown of the Latest in Asia’s Art World
Hong Kong's financially struggling West Kowloon Cultural District, a major arts hub, has been rescued from its cash crisis. This development was part of a broader Asia art world update that also included leadership changes at Japan's Art Collaboration Kyoto and the announcement of a new art fair in Shenzhen.
The Robert Therrien estate has left Gagosian after nearly three decades and joined David Zwirner, a rival mega-gallery. The move follows a major survey of the late sculptor's work at the Broad museum in Los Angeles, which featured 120 works and was the largest exhibition of his career. Therrien, who died in 2019, is best known for monumental sculptures of domestic objects, such as Under the Table (1994), and his towering plate columns held by institutions including the Tate and Glenstone.
Sotheby's held a marathon double sale at its new Breuer Building location, selling Gustav Klimt's portrait of Elisabeth Lederer for $236.4 million—the second highest price ever paid for an artwork at auction. The evening featured works from the collection of the late cosmetics heir Leonard Lauder, totaling $527.5 million, far exceeding its low estimate. The subsequent "Contemporary and the Now" sale brought in $178.5 million, with a Jean-Michel Basquiat painting selling for $48.3 million. Overall, the night generated $706 million, with multiple auction records set for artists including Cecily Brown, Antonio Obá, Yu Nishimura, Jess, and Noah Davis.
Christie’s has announced the sale of the private collection of the late legendary art dealer Marian Goodman, who passed away in January at age 97. Estimated to bring in approximately $65 million, the collection is headlined by a group of significant works by Gerhard Richter, an artist Goodman championed for four decades. The centerpiece of the auction is Richter’s 1982 painting "Kerze (Candle)," which carries a high estimate of $50 million and will lead a series of dedicated sales in New York this May.
Sotheby's evening auction in New York on May 13, 2025, realized $407.5 million ($433.1m with fees), led by Mark Rothko's "Brown and Blacks in Reds" (1957) from the collection of the late dealer Robert Mnuchin, which sold for $74m ($85.7m with fees). The sale opened with all eleven lots from Mnuchin's collection achieving a 'white glove' result, totaling $140.7m ($166.3m with fees), and continued with a mixed-vendor contemporary section that added $223m ($266.8m with fees), setting four new artist records.
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.
The article reports that the top tier of the art auction market rebounded strongly in 2025, with the ten most expensive lots totaling $757.1 million, a 48% increase from 2024. Gustav Klimt became the top-selling artist, driven by the sale of his *Portrait of Elisabeth Lederer* (1914–16) from the collection of the late Leonard Lauder, which was the most expensive artwork of the year. The rankings saw significant shifts: René Magritte, the top artist in 2024, fell to sixth place, while blue-chip names like Pablo Picasso, Andy Warhol, and Jean-Michel Basquiat strengthened their positions. Notably, no women or living artists appeared among the top 20 sellers in 2025, a reversal from the previous year when Yayoi Kusama and Joan Mitchell were present.
The article explores the distinction between Modern and contemporary art, explaining that Modern art emerged in the late 19th century as a reaction to classical art and the Industrial Revolution, with movements like Impressionism, Cubism, Futurism, and Surrealism redefining painting in response to photography. Contemporary art, by contrast, is a reaction to Modern art, with its start debated between World War II and the 1960s-70s consumerist era, encompassing diverse mediums such as sculpture, street art, and performance art, exemplified by artists like Jeff Koons, Banksy, and Yoko Ono.
Tate Britain will open a major exhibition titled *James McNeill Whistler* on 21 May, running through 27 September, before traveling to the Van Gogh Museum in Amsterdam (16 October–10 January 2027) under the subtitle *Dandy and Disrupter*. The show’s centerpiece is Whistler’s iconic *Arrangement in Grey and Black no. 1* (commonly known as *Portrait of the Painter's Mother*), on loan from the Musée d’Orsay in Paris and displayed in its original frame designed by the artist. The article explores Vincent van Gogh’s admiration for the painting—he wrote to his sister Wil in 1889 that it reminded him of their own mother—and traces the work’s connections to the Goupil gallery (later Boussod & Valadon), where both Vincent and his brother Theo worked.
This month's May auctions in New York are projected to generate between $1.8 billion and $2.6 billion across Christie’s, Sotheby’s, Phillips, and Bonhams. Major highlights include the estates of legendary dealers Marian Goodman and Robert Mnuchin, with top lots such as Gerhard Richter's *Kerze (Candle)* (est. $35m–$50m) at Christie's and Mark Rothko's *Brown and Blacks in Reds* (est. $70m–$100m) at Sotheby's. Additional offerings include works from the late S.I. Newhouse collection, featuring Jackson Pollock's *Number 7A* and Constantin Brâncuși's *Danaïde*, each estimated at $100m, as well as pieces from the collections of Agnes Gund and Marilyn Arison.
Pat Steir, the acclaimed American painter known for her Waterfall series, died in Manhattan on 25 March at age 87. The article traces her career from early struggles as a freelance illustrator and art director, through her transformative encounter with Sol LeWitt in the early 1970s, to her eventual emergence as a major figure in contemporary painting. It highlights her teaching at CalArts and Parsons, her involvement with feminist and artist-run institutions like Heresies and Printed Matter, and the pivotal moment in the early 1980s when she cut up a reproduction of a Jan Brueghel the Elder flower painting into 64 panels, repainting each in a different historical style.
ARTnews has published a guide to 10 exhibitions in Venice worth seeing during the 2026 Biennale, beyond the central show "In Minor Keys" curated by the late Koyo Kouoh and the national pavilions. Highlights include a major survey of Lee Ufan at the San Marco Art Centre (SMAC Venice), organized by the Dia Art Foundation and curated by Jessica Morgan; "Helter Skelter: Arthur Jafa and Richard Prince" at Fondazione Prada, curated by Nancy Spector; and "Strange Rules" at Palazzo Diedo, conceived by Hans Ulrich Obrist with Mat Dryhurst and Holly Herndon, introducing the concept of "Protocol Art." Other venues include the Gallerie dell'Accademia, Pinault Collection, Berggruen Arts & Culture, Fondazione Sandretto Re Rebaudengo, and a three-night-only performance at Teatro Goldoni.
Two rare photographic albums taken by art critic Gustave Coquiot in 1922 have been acquired by the newly established Van Gogh Academy in Auvers-sur-Oise, France, and are now on display. The images capture many of the sites in Arles that Vincent van Gogh painted in the late 1880s, including the Yellow House, the Langlois Bridge, and the Rhône riverbank. Several of these locations were later destroyed during World War II or by modernization, making Coquiot's photographs valuable historical records of Van Gogh's original subjects.
Rana Begum’s solo exhibition, "Reflection," is currently on view at the Gallery at Windsor in Vero Beach, Florida, following its debut at the SCAD Museum of Art. The exhibition showcases Begum’s signature style, which utilizes industrial materials like metal bars and reflectors to create elegant abstractions influenced by American Minimalism and Islamic architecture. The show traces her journey from a young immigrant in the UK to a Royal Academician, highlighting her ability to manipulate light and color through geometric forms.
Newly released documents from the Department of Justice reveal that the late financier and convicted sex offender Jeffrey Epstein was deeply involved in facilitating major art transactions between mega-collector Leon Black and Gagosian gallery. The files detail Epstein's personal communications with Black's lawyers regarding the acquisition of Pablo Picasso's 1931 sculpture *Buste de Femme (Marie-Thérèse)*, a work that was the subject of a legal dispute before Black acquired it for over $115 million. Epstein also assisted in a complex $48 million swap of a Rothko painting for a Picasso through Gagosian in 2012.
Amy Sherald, the painter known for her tender portraits of Black American life, has signed with Creative Artists Agency (CAA), a major talent agency. Sherald, who has been represented globally by Hauser & Wirth since 2018, rose to fame after painting Michelle Obama's official portrait for the National Portrait Gallery. She was set to become the first Black contemporary artist to have a solo exhibition at the National Portrait Gallery in 2025, but canceled the show after a censorship controversy involving her painting 'Trans Forming Liberty.'
Gagosian has announced representation of the late American painter Richard Diebenkorn (1922–1993), marking the artist's return to the gallery more than thirty years after his final solo exhibition there during his lifetime. To celebrate, the gallery will mount a career-spanning exhibition at its Madison Avenue flagship opening November 8, curated by Jasper Sharp in collaboration with the Richard Diebenkorn Foundation. The show will feature works from every period of Diebenkorn's six-decade career, including early California landscapes, wartime watercolors, and the celebrated Ocean Park abstractions, with highlights such as a 1943 watercolor, a monumental 1960 canvas, and late works on paper.
Joel Shapiro, the acclaimed American sculptor known for his abstract wooden and bronze figures, died June 14 at age 83. In the weeks before his death, he gave a career-spanning interview to Max Norman for ARTnews, reflecting on his legacy. The article describes Shapiro's final New York show at Pace Gallery in fall 2024, which featured large works like "Splay" (2024), "Wave" (2024), and his largest wooden sculpture "ARK" (2020/2023–24), alongside small models and bronzes. It also offers a glimpse into his Long Island City studio, where he constantly experimented with form, material, and scale.
Marian Goodman Gallery has taken on representation of artist Edith Dekyndt, whose multidisciplinary practice spans video, sculpture, installation, and performance, with plans to debut her work at Art Basel Paris in October. In other industry moves, Salon 94 now represents Raven Halfmoon, Timothy Taylor Gallery represents Martha Tuttle, Templon adds Martial Raysse, Acquavella Galleries represents Harumi Klossowska de Rola, and Gagosian has hired Aaron Baldinger as a director. Additionally, Jennie Goldstein has been named the inaugural Kippy Stroud Curator at the Whitney Museum, and Sotheby's will sell a tranche of artworks from the collection of the late Leonard Lauder, including Gustav Klimt's Portrait of Elisabeth Lederer, estimated at over $150 million.
The Hollywood Hills home of the late filmmaker, musician, and artist David Lynch has been listed for sale at $15 million. The 2.3-acre compound, originally built in 1963 by Lloyd Wright (son of Frank Lloyd Wright), was expanded by Lynch over his 35 years of residence to include two neighboring lots. It features 10 bedrooms, 11 bathrooms, an art studio, a workshop, and a private screening room. The property served as both living quarters and workspace, and was even used as a film set for Lynch's 1997 movie *Lost Highway*. The listing shows that the home survived the recent destructive fires in the area, from which Lynch had evacuated shortly before his death in January 2025.
Lorna Simpson's paintings are the subject of a new survey exhibition at the Metropolitan Museum of Art in New York, titled "Source Notes," on view through November 2. The show features over 20 paintings created between 2014 and 2024, marking the first exhibition to survey Simpson's output in this medium. Curated by Lauren Rosati, the exhibition aims to provide an overview of her painterly practice while connecting it to her collage work, with two vitrines displaying her collages to illustrate the fluidity between the two practices. Simpson, best known for her photography from the 1980s, debuted her paintings at the 2015 Venice Biennale organized by the late curator Okwui Enwezor.
Christie's has released a promotional video featuring actress Nicole Kidman to advertise the upcoming auction of Constantin Brancusi's bronze sculpture *Danaïde* (1913), estimated at $100 million. The sculpture comes from the collection of the late media mogul S.I. Newhouse, who purchased it for $18.2 million in 2002. The nearly two-minute film, shot at Christie's Rockefeller Center headquarters, shows Kidman interacting with the work and was conceived by former Sotheby's auctioneer and Newhouse estate advisor Tobias Meyer. The sale is scheduled for May 18 in New York.
A selection of Navajo textiles from the personal collection of minimalist artist Frank Stella is being exhibited and sold for the first time. The 55 textiles, dating from the late 19th and early 20th centuries, will be on view at Arader Galleries in New York from May 15 to June 10, then travel to Peter Pap Rugs in New Hampshire in June. Priced between $6,500 and $25,000, the collection includes a large 19th-century blanket that Stella lent to a seminal 1972 exhibition at LACMA. Stella began collecting these works in the mid-1960s after being introduced to Navajo art by Donald Judd and Tony Berlant.
James Cohan Gallery, a mid-sized New York gallery, is representing four artists in the 61st Venice Biennale's central exhibition, "In Minor Keys," curated by the late Koyo Kouoh. The artists are Ranti Bam, Tuan Andrew Nguyen, Kennedy Yanko, and Yinka Shonibare (whose Guest Artists Space Foundation is also participating). This marks a breakthrough for the gallery, which has more artists in the central exhibition than any of the four mega-galleries—Gagosian, Pace, David Zwirner, and Hauser & Wirth—none of which have as many. The gallery is investing heavily in production, logistics, travel, and events, including a luncheon at the St. Regis Hotel co-hosted with Salon 94 and Esther Schipper, and a dinner thrown by collector Pamela Joyner for Yanko.
Artnet News critic Ben Davis analyzed 130 recurring global art events—including biennials and triennials—that opened between the 2022 and 2026 Venice Biennales, tallying over 15,000 participating artists. He identified the most frequently featured artists, with Nolan Oswald Dennis topping the list at 14 biennial appearances. Dennis, a South Africa-based artist born in Lusaka, is known for works like "Black Liberation Zodiac" (2017-ongoing) and was included in the 2026 Venice Biennale curated by the late Koyo Kouoh.
Sotheby's Asia faces another leadership shake-up as Elaine Holt departs her role as chairman of modern and contemporary art in Asia after just one year. Jasmine Prasetio, Sotheby's managing director for Southeast Asia, will relocate to Hong Kong to serve as interim chair. Meanwhile, European galleries Meyer Riegger and Galerie Jocelyn Wolff are partnering to open a new space in Seoul called Meyer Riegger Wolff, led by Gala Musi, with an inaugural show during Frieze Seoul. Design Miami will make its Asian debut in Seoul, and London-based artist Firenze Lai has joined White Cube's roster. In Taiwan, the Taichung Green Museumbrary, designed by SANAA, is set to open in December, and the Gwangju Biennale Foundation has appointed Youn Bummo as its new president.
A new group exhibition titled "Merci! John Giorno" has opened at Almine Rech Paris, celebrating the life and career of the late American artist John Giorno (1936–2019). Presented in collaboration with Giorno Poetry Systems, the show features Giorno's own works alongside pieces made for or inspired by him, including his iconic interactive work "Dial-A-Poem" (1968–ongoing) and his "Poem Paintings" begun in 1989. The exhibition also marks the tenth anniversary of the seminal show "Ugo Rondinone: I ♥ John Giorno" at the Palais de Tokyo in 2015. Running through June 7, 2025, it is complemented by other collaborations set in Parisian museums and regional venues throughout the year, including a revival of "Dial-A-Poem" in French at the Centre Georges Pompidou.
Christie's is offering nine artworks from the collection of Anne and Sid Bass as part of its Spring Marquee Week in May. The works, which include pieces by Mark Rothko, Agnes Martin, Frank Stella, Ellsworth Kelly, Morris Louis, and Gino Severini, were displayed in the Bass House in Fort Worth, Texas—a Modernist residence designed by architect Paul Rudolph in the early 1970s. The house was built to serve both as a home and a gallery for the couple's renowned art collection.
Gagosian Gallery in Beverly Hills has opened an exhibition titled "Frank Gehry" showcasing the architect's lesser-known sculptural works, including fish lamps, a crocodile, snakes, and a stainless steel bear. Curated by Deborah McLeod, a personal friend of Gehry, the show celebrates his non-architectural creations that explore animal forms and light, with pieces like the 7-foot-long "Bear With Us" and fish lamps using LED bulbs. The exhibition serves as a tribute following Gehry's death in 2025 at age 96.
This week’s art roundup highlights several major exhibitions across the UK, including a floral-themed survey at Kettle’s Yard featuring artists from Henri Rousseau to Lubaina Himid. Other notable openings include Billy Childish’s expressionistic California desert paintings at Carl Freedman Gallery, Katharina Grosse’s site-specific installations at White Cube, and Steve McQueen’s new photography book, 'Bounty', which explores the colonial history of Grenada through its flora.