6 Questions Every New Art Buyer Should Ask a Gallery

Annabel Keenan's article offers practical guidance for first-time art buyers navigating the gallery system. It outlines six essential questions to ask galleries, covering price transparency, provenance, and the artist's market context. The piece features insights from gallery director Joseph Clarke of Anima Mundi, collector and MCA Chicago trustee Ellen-Blair Chube, and gallerist Madelyn Jordon of Madelyn Jordon Fine Art, who emphasize that asking questions is key to building confidence and knowledge as a collector.

Epstein Emails and the Art Market

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A massive release of over three million documents by the U.S. Department of Justice has exposed the deep ties between the late financier Jeffrey Epstein and prominent figures in the global art world. The files reveal how Epstein utilized sophisticated financial structures to manage and enhance the value of blue-chip art collections, most notably for billionaire Leon Black. The fallout from these disclosures has already led to high-profile resignations, including Jack Lang from the Arab World Institute and David A. Ross from the School of Visual Arts, while others like collector Steve Tisch face renewed scrutiny.

Is A Random Unknown Artist More Valuable Than Picasso? AI Thinks So.

An experiment using a custom AI model to evaluate artistic value independent of market context found that the model assigned a seven-figure price to an unknown street artist's work while valuing a Picasso at under $1,000. The project, run by an art journalist with a data scientist and an AI expert, trained a Fine Art Large Vision Model on millions of images and price data. Without metadata like artist name or gallery affiliation, the model's predictions were technically interesting but commercially useless; only when those market signals were added did predictions align with real auction outcomes.

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British television presenters Ant McPartlin and Declan Donnelly have obtained a High Court order to investigate potential financial misconduct involving their contemporary art collection. The duo is seeking disclosure from art dealer Andrew Lilley regarding transactions for several Banksy prints, alleging that an unnamed intermediary may have pocketed undisclosed profits. The court found a "good arguable case" of wrongdoing after a discrepancy of approximately $335,000 was discovered between what the presenters paid and what the dealer reportedly received.

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The Panama Papers leak has revealed that the 1997 sale of the Victor and Sally Ganz collection at Christie's New York was secretly orchestrated by billionaire currency trader Joseph Lewis. Lewis had already purchased the top works from the collection through a Christie's subsidiary, Spink & Son, months before the auction, and structured a guarantee that shared profits above $168 million. The sale, which set a private collection auction record at $206 million, included Pablo Picasso's "Women of Algiers (version O)" fetching $31.9 million. The documents also confirm that a Modigliani painting involved in a Nazi restitution case belongs to the Nahmad family.

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Simon de Pury pays homage to Hans Neuendorf, the visionary founder of Artnet, following the announcement of Artnet's sale at the end of May. De Pury recounts Neuendorf's background as a successful art dealer who championed underappreciated artists like Francis Picabia, and describes how Neuendorf revolutionized the art world by creating the world's most comprehensive auction results database in 1989 (initially called Centrox). The article contrasts the pre-digital era of manually filing auction results with the instant access Artnet now provides, and notes that Neuendorf later expanded the platform with Artnet News and Artnet online auctions.

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On July 23, U.S. Senator John Fetterman introduced the Art Market Integrity Act, a bill that would apply anti-money laundering (AML) and counter-terrorism financing regulations to art dealers, auction houses, galleries, advisers, consultants, custodians, museums, collectors, and other intermediaries in the art market. The legislation amends the Bank Secrecy Act, requiring these entities to conduct client due diligence, maintain records, and report suspicious transactions. It exempts artists selling their own work, nonprofits, and businesses with under $50,000 in annual art transactions. The bill is co-sponsored by Senators Chuck Grassley, Sheldon Whitehouse, Bill Cassidy, Andy Kim, and David McCormick.

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Investment group Beowolff Capital has announced a voluntary takeover offer for Artnet, valuing the company at approximately €65 million ($73.7 million). Beowolff Capital, a U.K.-registered firm led by CEO Andrew Wolff, has already secured 65% of Artnet's shares and plans to delist the company from the Frankfurt Stock Exchange. The deal includes the purchase of a 29.99% stake from Weng Fine Art AG, ending a long-running control struggle. Artnet's management supports the offer, which is expected to close on May 30, 2025.

What We Know—and Don’t Know—About Private Art Auctions

Artnet recently hosted a virtual deep dive into the burgeoning phenomenon of private art auctions, a trend highlighted in their 2026 Intelligence Report. Unlike traditional public sales, these events are highly curated, invitation-only affairs that prioritize discretion and control over the typical spectacle of the auction block. The discussion explored the mechanics of these sales, which often bypass public records and leave the broader market in the dark regarding final prices and buyer identities.

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Art appraiser Winston Art Group and art-tech firm Artory have merged to form the Winston Artory Group (WAG), a new company offering art appraisal, advisory, and digital collection management services. The merger is backed by a strategic investment led by Strobe Ventures, with support from CMT Digital, Galaxy Digital, and the family office of Eijk van Otterloo. WAG combines Winston's valuation expertise with Artory's blockchain-backed technology and a database of over 50 million art market transactions, aiming to provide secure, data-rich valuations to insurers, banks, family offices, and collectors. The firm expects to handle $15 billion in valuations this year.

How Expensive Art Auctions Really Are

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Art auction houses often promote transparency through public bidding, but the final hammer price is merely the starting point for a complex web of additional costs. Buyers frequently face buyer's premiums, value-added taxes, and resale right royalties (droit de suite) that can inflate the final invoice by up to 50 percent beyond the initial bid.