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Artist Foundations’ Net Worth Has Nearly Tripled to $9 B., Led by Cy Twombly Foundation’s $1.5 B. in Art and Assets

New research from the Aspen Institute’s Artist-Endowed Foundation Initiative (AEFI) reveals that artist-endowed foundations in the U.S. now control roughly $9 billion in assets, nearly triple the $3.5 billion reported in 2011 and up 17% from $7.7 billion in 2018. The Cy Twombly Foundation leads with $1.5 billion in art and assets, followed by foundations for Alexander Calder, Joan Mitchell, Helen Frankenthaler, and Robert Rauschenberg, each holding over $500 million. The data, drawn from public tax forms, shows that just five of roughly 500 foundations account for more than half the total, with most established by postwar American artists born before 1931.

The 20 Most Expensive Artworks Hitting the Auction Block This Season

The May 2026 New York auctions at Christie’s, Sotheby’s, and Phillips will feature 20 high-value lots priced at $30 million or more, including works by Andy Warhol, Jasper Johns, Pablo Picasso, Piet Mondrian, Jackson Pollock, Willem de Kooning, Cy Twombly, Gerhard Richter, and others. The sales are staggered around the Venice Biennale and Frieze New York, with Sotheby’s holding its contemporary evening auction on May 14 and Christie’s its 20th-century sale on May 18. Notable consignments come from the estates of S.I. Newhouse, former MoMA board president Agnes Gund, and dealer Marian Goodman.

Picasso Painting That Cost S. I. Newhouse a MoMA Board Position Heads to Christie’s for $55 M.

Christie’s New York will auction 16 masterpieces from the collection of late Condé Nast magnate S. I. Newhouse on May 18, with an estimated total of $450 million. The highlight is Pablo Picasso’s Cubist painting *Homme à la guitare* (1913), estimated at $35–55 million, which Newhouse acquired in 2000 for $10 million after MoMA sold it from its collection. Newhouse, then a MoMA board member, violated museum policy by buying the work and subsequently resigned from the board.

The Marcel Duchamps That Got Away: On Collecting His Work and the Sprawling MoMA Show

The article recounts the author's personal experience as a collector who passed up the opportunity to buy a complete set of Marcel Duchamp's readymades at a 2002 Phillips de Pury and Luxembourg auction. The set, editioned by dealer Arturo Schwartz in 1964, included iconic works like *Fountain* and *Bicycle Wheel*, but the sale was a financial failure, with many pieces bought-in or selling for far below expectations. The author later acquired some of the unsold works privately. The piece is framed around the concurrent Duchamp exhibitions at the Museum of Modern Art and Gagosian.

Bruno Bischofberger, Swiss Art Dealer and Early Backer of Basquiat, Dies at 86

Bruno Bischofberger, the influential Swiss art dealer, collector, and historian, died on Saturday at age 86. He opened his first galleries in Zurich and St. Moritz in 1963, championed American Pop artists like Andy Warhol and Roy Lichtenstein, and became an early backer of Jean-Michel Basquiat, representing him from 1982. Bischofberger also helped found Interview magazine with Peter Brant and was a longtime exhibitor at Art Basel.

This month’s blockbuster auctions in New York could bring upwards of $2.5bn

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.

Robert Therrien Estate Leaves Gagosian for David Zwirner, Olney Gleason Now Represents Jill Magid, and More: Industry Moves for May 6, 2026

The ARTnews article reports a series of significant gallery representation changes and industry moves in the art world as of May 6, 2026. Key shifts include the Robert Therrien Estate leaving Gagosian for David Zwirner, Olney Gleason now representing Jill Magid, and several other artists—Tianyue Zhong, Africanus Okokon, Seung Ah Paik, Khalif Tahir Thompson—joining or switching galleries. Miriam Machado has been named director of the Patricia and Phillip Frost Art Museum. The article also notes the rising costs and commercial realities of staging exhibitions at the Venice Biennale, including a Christie's selling show at Palazzo Ca' Dario.

The Venice Biennale’s Polite Fiction of Being ‘Above the Market’ Is Wearing Thin

The 61st Venice Biennale is underway, with art world figures flocking to Venice for the opening. While the Biennale is officially a non-selling curatorial platform, commercial interests are increasingly visible: galleries are funding artists' projects to recoup investments, auction houses like Christie's are hosting private selling exhibitions (including a 'Ghost Pavilion' at the Ca' Dario Palazzo), and fashion houses such as Bottega Veneta and Chanel are sponsoring events. Sotheby's has pulled support for the U.S. Pavilion, which is now crowdfunding, while Frieze is bankrolling the British Pavilion for a second time.

Gallerist Bruno Bischofberger, Who Catalyzed Basquiat/Warhol Collaboration, Dies at 86

Swiss art dealer Bruno Bischofberger, who catalyzed the famous collaboration between Andy Warhol and Jean-Michel Basquiat, died on May 9 at age 86. His death was announced by his namesake gallery, which he had operated since 1963. Bischofberger played a pivotal role in introducing US Pop artists to Europe, representing Warhol and Basquiat, and commissioning collaborative works that led Warhol to return to painting after a two-decade hiatus. He also represented European artists like Francesco Clemente, Enzo Cucchi, Gerhard Richter, and Jean Tinguely, and his idiosyncratic ads graced Artforum's back cover for nearly four decades.

Beer With a Painter: Keith Mayerson

Hyperallergic interviews Los Angeles-based painter Keith Mayerson, who discusses his ongoing 'My American Dream' series—a cosmology of paintings blending American identity, activism, and popular culture. The conversation covers his early influences from comics, the Muppets, and Hunter S. Thompson, his transition from cartooning to painting, and his vibratory, swirling brushwork. Mayerson's work has been featured in the 2014 Whitney Biennial and is currently on view at the Aspen Art Museum and the Pollock-Krasner House.

Appropriation Culture: Richard Prince and Arthur Jafa

An upcoming exhibition at ArtReview pairs artists Richard Prince and Arthur Jafa to explore the ethics and aesthetics of image appropriation. Jafa's work, such as the video "Love is the Message, The Message is Death" (2016), uses found footage of police violence and Black cultural icons, while Prince's "Girlfriends" series rephotographs amateur snapshots from biker magazines. Jafa has cited Prince as a key influence on his own practice of transposing images across contexts.

Pittsburgh’s burgeoning gallery community readies for its moment in art world spotlight

Pittsburgh's commercial gallery scene is experiencing a resurgence as the Carnegie International, the country's longest-running recurring exhibition, prepares to open its largest edition yet with 61 artists. Since the pandemic, several young gallerists with experience in New York and Los Angeles have opened spaces in the city, including Romance gallery (2023) by former Whitney curator Margaret Kross, and april april gallery (2024) relocated from Brooklyn by Patrick Bova and Lucas Regazzi. Longer-established galleries like Concept, Zynka, and James Gallery have welcomed these newcomers, with local figures such as collector Evan Mirapaul noting that Pittsburgh's robust arts ecosystem—including museums, universities, and nonprofits—has long lacked a strong commercial gallery presence.

Digital Art Pioneer Nancy Burson Collapses the Border Between Mysticism and Quantum Physics

Nancy Burson, a pioneering digital artist, presents her latest solo exhibition "Light Matter" at Heft Gallery in New York, featuring "Quantum Entanglement" paintings that appear as white dots on black canvases but reveal jittering forms and depth when viewed through a phone camera. The 78-year-old artist, known for her 1980s composite portraits blending faces of businessmen and movie stars, continues her exploration of perception and technology, claiming a special gift to perceive the universe's emergent energy grid. The exhibition runs through May 2.

Frank Stella’s eye-dazzling collection of Navajo weavings to go on view

An exhibition of Navajo (Diné) weavings from the collection of the late artist Frank Stella opens on 15 May at Peter Pap Rugs at Arader Galleries in New York City, running until 10 June. The show features 40 weavings from the 19th and early 20th centuries, acquired by Stella over four decades for their optical effects and resonance with his own work. Organized by dealer Peter Pap in collaboration with Stella’s widow Harriet McGurk, the exhibition also includes geometric drawings by Stella from the 1960s, on loan from the Frank Stella Estate.

Bruno Bischofberger, Art Dealer of Stars Like Andy Warhol and Jean-Michel Basquiat, Dies at 86

Bruno Bischofberger, the legendary Swiss art dealer who championed American artists like Andy Warhol and Jean-Michel Basquiat in Europe, has died at age 86. His Zurich-based gallery announced his death on Saturday. Bischofberger founded his eponymous gallery in 1963, which became one of Switzerland's most important blue-chip art spaces. He forged deep personal and professional relationships with artists, including acquiring a stake in Warhol's Interview magazine, producing Warhol's film L'amour, and famously proposing the collaborative paintings between Warhol and Basquiat in 1984. Bischofberger also maintained a decades-long tradition of placing advertisements on the back page of every Artforum issue.

A $35 M. Warhol, a $45 M. Basquiat, and More: Who’s Selling The Top Works in the May Sales?

The article reports on the upcoming May marquee sales at Christie’s and Sotheby’s, detailing high-value consignments from major collections. Christie’s will offer works from the estates of S. I. Newhouse (including a Brâncuși sculpture and a Jackson Pollock painting, each estimated at $100 million), former MoMA board president Agnes Gund (a Rothko estimated at $80 million), and the late dealer Marian Goodman (a Gerhard Richter estimated at $50 million). Sotheby’s counters with a Rothko from the collection of the late Robert Mnuchin (estimated at $100 million) and works from David and Shoshanna Wingate, including a Giacometti sculpture. The article also reveals previously unnamed consignors for top lots, such as collector John Sayegh-Belchatowski for a $45 million Basquiat and the Moore family for an Elizabeth Peyton painting.

Under new ownership, Art Monte Carlo voices 'global ambitions'

The 10th edition of Art Monte Carlo took place from April 29 to May 1 in the Grimaldi Forum, featuring 26 exhibitors ranging from Old Master paintings to contemporary works by Picasso, Warhol, and Richter. The fair was acquired last year by Informa Prestige, a luxury offshoot of Informa, which also owns Miami's Untitled fair. Executive chair John Paton aims to grow the fair, nearly double its size within two years, and expand to another location, leveraging complementary audiences from yachting and supercars.

What Does Damien Hirst Have to Do With This Giant McDonald’s Ball Pit in Milan?

An installation called "POOL. Ti sblocco un ricordo" was on view during Milan Design Week, organized by Nicolas Ballario and presented as part of the Tortona Rocks offsite exhibitions. The centerpiece is a giant swimming pool-shaped pit filled with hundreds of thousands of colorful balls, celebrating McDonald's 40th anniversary in Italy. The installation claims to be "informed by" Damien Hirst's "Spot Paintings" and also features a work from Vedovamazzei's "Early Works" series, which imagines how famous artists might have drawn as children. Other elements include vitrines of Happy Meal toys, a Ronald McDonald replica, and nostalgic McDonald's memorabilia.

Inside ‘Prince of Prints’ Jordan Schnitzer’s Sprawling Collection

Jordan Schnitzer, the Portland-based philanthropist often called the 'Prince of Prints,' recently provided a rare tour of his massive 50,000-square-foot art warehouse. The facility utilizes a sophisticated 'floating bin' logistics system, similar to those used by major retailers, to manage over 22,000 works, including extensive holdings by Andy Warhol, Joseph Beuys, and Richard Prince. Schnitzer’s foundation operates as a lending library, frequently shipping works to museums and hosting educational tours for students from districts where arts funding has been eliminated.

Remembering Bruno Bischofberger, Manuela Hoelterhoff, and Steven Durland

This week's In Memoriam column from Hyperallergic honors seven figures from the art world who recently passed away, including Swiss collector and dealer Bruno Bischofberger (1940–2026), Pulitzer-winning arts critic Manuela Hoelterhoff (1949–2026), and artist-editor Steven Durland (1951–2026). Other notable losses include British painter Ray Burgoyne, iconographer Christina Dochwat, German gallerist Jenny Falckenberg, realist painter Ward Nichols, and MoMA preparator Pamela A. Popeson. Each entry provides a brief biography and highlights their contributions to visual art, criticism, and cultural organizing.

First Look: See What’s Inside the Met Gala’s “Costume Art” Exhibition

Vanity Fair art and style correspondents Nate Freeman and José Criales-Unzueta preview the Metropolitan Museum of Art's Costume Institute spring exhibition "Costume Art," which inaugurates the Condé M. Nast Galleries. The exhibition arrives amid controversy over the Met Gala being sponsored by Lauren Sánchez Bezos and Jeff Bezos, leading to boycott calls and New York Mayor Zohran Mamdani skipping the event. Despite this, Anna Wintour and Met director Max Hollein announced the gala raised a record $42 million. Head curator Andrew Bolton presents fashion as art, pairing garments with artworks like Warhol's Skull and Sarah Lucas's Nud Cycladic 9.

Sotheby’s May Auctions: Rothko’s $100M Masterpiece Headlines

Sotheby's is holding its most ambitious May auction series in New York, headlined by Mark Rothko's monumental painting *Brown and Blacks in Reds* (1957), estimated at $70–100 million. The sales include a dedicated auction for the collection of legendary dealer and collector Robert Mnuchin, valued at over $130 million, featuring works by Rothko, Franz Kline, and Jeff Koons. Other highlights include Jean-Michel Basquiat's *Museum Security (Broadway Meltdown)* (1983), estimated at over $45 million, and Willem de Kooning's *Untitled III* (1975), making its auction debut with a $25–35 million estimate. The series spans Modern and Contemporary art, with additional works by Pablo Picasso and Vincent van Gogh.

The Top Collections Leading the May Marquee Auctions

The article reports that the May 2025 marquee auctions at Christie's and Sotheby's are being driven by a resurgence of major single-owner collections, reversing a period of trophy scarcity in the secondary market. Key collections include the $130 million Robert E. Mnuchin collection at Sotheby's, the personal collection of gallerist Marian Goodman at Christie's, and the S.I. Newhouse collection expected to generate around $450 million, featuring Jackson Pollock's 'Number 7A (1948)' and Constantin Brancusi's 'Danaïde (1913)'. The article notes that the ultra-high tier above $10 million rose 30% year-on-year, and single-owner collections in New York auctions totaled $730.9 million, an 89.9% increase from Q1 2025.

With new Costume Institute exhibition and galleries, the Met makes powerful statement about fashion's place in museums

The Metropolitan Museum of Art has opened a major new Costume Institute exhibition titled "Costume Art," which runs until January 10, 2027, in the newly designed Condé M. Nast Galleries by Peterson Rich Office. Curated by Andrew Bolton with Stephanie Kramer, Ayaka Iida, and Emily Mushaben, the show features nearly 400 objects from all 19 of the museum's collecting departments, organized around body typologies such as the "Classical Body" and "Aging Body." The exhibition marks a significant institutional commitment to fashion as a central curatorial concern, with the 12,000-square-foot space adjacent to the Great Hall.

‘A remarkably tenacious motif’: the many faces of Marilyn Monroe revealed in new book and show

The National Portrait Gallery in London will open "Marilyn Monroe: a Portrait" next month, accompanied by a book edited by curator Rosie Broadley in association with the Marilyn Monroe estate. The exhibition and book feature works by Andy Warhol, Pauline Boty, Marlene Dumas, James Gill, Rosalyn Drexler, and others, exploring Monroe as a persistent subject in visual art beyond film. Highlights include Warhol's 1962 silkscreen "Green Marilyn", de Kooning's 1954 portrait, and lesser-known works by Joseph Cornell and Alex Margo Arden.

The Met’s Costume Institute Needs an Art History Lesson

The Metropolitan Museum of Art's Costume Institute spring exhibition, "Costume Art," pairs fashion with artworks from the Met's collection, including ancient Greek statues and Andy Warhol screenprints, alongside garments by designers from Charles James to CFGNY. Curator Andrew Bolton aims to suggest that fashion can expand understanding of art, but the show's juxtapositions often feel vague and sloppy, with only occasional resonant pairings like a Jean Paul Gaultier shirt and Joe Brainard drawing linked by queer artist lineage.

The Venice Biennale has long been a sales platform—now no one is pretending otherwise

The Venice Biennale, traditionally a government-subsidized non-commercial institution where sales were downplayed, is experiencing an unprecedented open embrace of commerce. For the first time, Christie's is hosting an invitation-only selling exhibition in Venice, offering works ranging from Old Masters like Lucas Cranach to Modern and contemporary giants such as Andy Warhol, Louise Bourgeois, and Mark Bradford, with prices from $500,000 to over $35 million. Dealers, auction houses, and private foundations are openly pricing and selling works to collectors, spurred partly by Italy's reduced 5% VAT rate on art imports, now Europe's lowest.

Montclair Art Museum Hires Esteemed Curator Kate Kraczon After Layoffs at Brown University

The Montclair Art Museum in New Jersey has appointed Kate Kraczon as its new chief curator, effective June 15. Kraczon previously served as director of exhibitions and chief curator at the David Winton Bell Gallery at Brown University, where she was laid off in late 2024 amid a wave of cuts. She succeeds Gail Stavitsky, who held the post since 1994. The museum also recently hired Todd Caissie, an enrolled member of the Osage Nation and former director of Canada’s New Brunswick Internment Camp Museum, as its director.

7 Books We’re Looking Forward to in May

ARTnews has published a list of seven art books to look forward to in May 2026, covering a wide range of topics from contemporary theory and AI imagery to historical biographies and the Venice Biennale. Featured titles include Dena Yago's collected writings 'That Figures,' Victoria Johnson's biography of Frederic Church 'Glorious Country,' Trevor Paglen's 'How to See Like a Machine,' Nicholas Fox Weber's 'Anni Albers: A Life,' Massimiliano Gioni's 'High Waters: An Oral History of the Venice Biennale,' Rennie McDougall's 'Nonstop Bodies: How Dance Shaped New York City,' and Paul Elie's 'Last Supper: Art, Faith, Sex and Controversy in the 1980s.'

$60 M. Lichtenstein Comes to the Block at Christie’s, Potentially Joining His Priciest Works at Auction

Christie’s will offer Roy Lichtenstein’s 1964 painting *Anxious Girl* from the collection of legendary New York collector-dealer Holly Solomon and her husband Horace, with an estimate of $40–60 million. If it reaches its high estimate, it will become the artist’s second-priciest work at auction, trailing only *Nurse* (1964), which sold for $95.4 million in 2015. The work leads Christie’s 20th-century evening sale on May 18, amid a flurry of high-value consignments as both Christie’s and Sotheby’s aim to sustain momentum after posting improved 2025 results.