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paint drippings art industry news jan 9 2736112

This week's art industry roundup covers a postponement, financial losses, legal disputes, and leadership changes. New Jersey's Art Fair 14C has been postponed to May 2027, with organizers citing capacity issues unrelated to market conditions. Bonhams reported a 90% pre-tax loss jump to £213 million in 2024 due to impairment charges. A rediscovered Watteau drawing will be auctioned at Christie's Paris, and personal items of Jimmy and Rosalynn Carter are featured in Christie's 'American Collector' sales. In galleries, Amy Sillman left Gladstone for David Zwirner, Trevor Paglen joined Jessica Silverman, and Maya Hewitt joined Theta. The Louvre partially closed after a staff strike demanding director Laurence des Cars' resignation and reassessment of a renovation plan. Belgium's plan to dismantle Antwerp's M HKA museum has sparked resignations and backlash. New appointments include Will Cary as COO of the Barnes Foundation and Patton Hindle as director of arts at the Knight Foundation. MATHAF museum in Doha announced a campus expansion by architect Lina Ghotmeh. Legal disputes emerged between Gian Enzo Sperone and Angela Westwater over the shuttered Sperone Westwater gallery.

bonhams posted significant losses 2024 1234769251

Bonhams, the UK-based auction house, reported a nearly 90% surge in pre-tax losses to £213 million ($286.3 million) in 2024, alongside a 9% revenue decline to £176 million ($236.6 million), according to filings with Companies House. The losses were driven by £153 million in impairment charges due to reduced cash flow forecasts, reflecting a write-down on the investment value held by former owner Epiris. The house was sold to Pemberton Asset Management in October 2024, and subsequently saw a leadership overhaul, with Seth Johnson appointed CEO, Liese Thomas as CFO, and Jennifer Babington as COO, replacing Chabi Nouri and Céline Assimon.