Art News. Vasari Codex

article news schedule Apr 28, 2026 visibility 26 link 2 artists

Saudi Arabia Museum of Contemporary Art Gets $490 M. from Powerful Real Estate Firm

The forthcoming Saudi Arabia Museum of Contemporary Art has received a $490 million construction grant from Diriyah Company, a real estate firm chaired by Crown Prince Mohammed bin Salman. Designed by Dubai-based Godwin Austen Johnson, the museum will span 883,000 square feet—larger than the Louvre in Paris—and will be located in Diriyah, with additional exhibitions in Riyadh. The grant supports Saudi Arabia's Vision 2030 plan to diversify the economy away from oil.

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article news schedule Jan 21, 2026 visibility 22 link 10 artists

met opera may sell prized marc chagall paintings 1234770398

New York's Metropolitan Opera is considering selling two monumental Marc Chagall murals, 'The Sources of Music' and 'The Triumphs of Music' (1966), valued at $55 million by Sotheby's, to address a severe financial crisis. The Met has already drawn $120 million from its endowment, reduced performances, and struck a controversial $100 million deal to perform in Saudi Arabia, which has drawn scrutiny over human rights abuses. The murals, which hang in the Grand Tier, would remain in place even if sold, and the Met is also exploring naming rights and theater leasing.

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article policy schedule Feb 23, 2026 visibility 11 link 1 artist

saudi arabia scales back 2741687

Saudi Arabia is significantly scaling back its ambitious "Vision 2030" cultural and infrastructure spending due to falling oil prices and massive budget overruns. Major international projects, including a $200 million investment deal with the Metropolitan Opera in New York and funding for the Centre Pompidou’s refurbishment, are currently in limbo or facing payment delays. Reports of unpaid invoices to art service firms and the halting of "gigaprojects" like Neom suggest a period of financial retrenchment for the kingdom.

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article news schedule Feb 4, 2026 visibility 9 link 6 artists

met opera murals financial tools 2740082

The Metropolitan Opera is considering selling its two iconic Marc Chagall murals, 'The Sources of Music' and 'The Triumph of Music,' which have been appraised at $55 million. The institution's general manager, Peter Gelb, has proposed a sale with the condition that the buyer agrees to leave the works in place at Lincoln Center, with a donation plaque.

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article news schedule Jan 26, 2026 visibility 9 link 2 artists

metropolian opera chagall murals explained 2739770

New York's Metropolitan Opera announced it may sell its two iconic Marc Chagall murals, *The Sources of Music* and *The Triumphs of Music*, which have adorned the building's Grand Tier since 1966. The proposal includes a caveat that the paintings must remain in place at the opera, with the owner recognized on a plaque. Sotheby's valued the artworks at a total of $55 million within the past year. The financially beleaguered institution has drawn $120 million from its endowment and reduced its performance schedule since the pandemic, and previously used the Chagalls as collateral for a $35 million loan from J.P. Morgan in 2009.

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trending_up market schedule Jan 26, 2026 visibility 7 link 2 artists

art market minute jan 26 2740131

The article reports on a growing trend in the art world called a 'strategic pause,' where galleries and art fairs are temporarily suspending operations to reassess their futures. Vienna's Spark Art Fair announced a hiatus, Berlin dealer Mehdi Choukri is pausing exhibitions at his 30-year-old gallery, and the Art Dealers Association of America's Art Show skipped a year to 'reimagine' its direction. Additionally, the Metropolitan Opera in New York is considering selling its iconic Marc Chagall murals, and a fresh-to-market Magritte painting is heading to Christie's London.

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article news schedule Apr 24, 2026 visibility 17 link 1 artist

How Much Is That Chagall in the Window: Metropolitan Opera Faces Funding Crisis After Saudi Deal Collapse

The Metropolitan Opera in New York faces a $30 million deficit after a $200 million funding deal with Saudi Arabia collapsed. The Saudi government withdrew from the agreement, which would have sent Met performers to the Royal Diriyah Opera House for three weeks each February, citing economic pressures from the Iran War and the blockage of the Strait of Hormuz. To address the shortfall, the Met is considering selling two monumental Marc Chagall paintings—The Sources of Music and The Triumph of Music (1966)—valued at $55 million, along with other options like selling naming rights or seeking a similar deal with another country.

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article news schedule Jan 21, 2026 visibility 10 link 6 artists

goliath goes to court abramovic brings installation to davos morning links for january 21 2026 1234770406

South African artist Gabrielle Goliath is taking legal action after her artwork was removed from the country's Venice Biennale pavilion. Goliath and curator Ingrid Masondo will file an application with South Africa's High Court in Pretoria, arguing that the decision by Sport, Arts, and Culture Minister Gayton McKenzie is unconstitutional. They have also sent a letter to President Cyril Ramaphosa, demanding that the Department of Sport, Arts and Culture (DSAC) honor the selection committee's original choice and allow the exhibition to proceed. Meanwhile, the DSAC has reportedly restarted the Biennale planning process with the collective Beyond the Frames.

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