Art News. Vasari Codex

trending_up market schedule Sep 7, 2025 visibility 23 link 24 artists, 10 galleries

The Storm Hits the Art Market

The article reports on the severe downturn in the art market during the first half of 2025, focusing on the closure of New York-based Clearing gallery. Despite opting out of Art Basel to host an alternative exhibition in a rented villa to cut costs, the gallery could not survive its financial losses and announced bankruptcy in August. It is one of several prominent galleries—including Blum, Venus Over Manhattan, and Kasmin—that have closed amid falling sales, high overheads, and reduced collector spending.

newspaper Artnet News open_in_new Read original

trending_up market schedule May 13, 2026 visibility 15 link 21 artists, 3 galleries

Renowned Gallery Air de Paris Bankrupted, Closing This Week

Air de Paris, the Paris gallery known for its punk ethos and commitment to cutting-edge Conceptual art, will close this week after 36 years and more than 400 exhibitions, amid bankruptcy proceedings. Founded in Nice in 1990 by Florence Bonnefous and Edouard Merino, the gallery was named after Marcel Duchamp’s 50cc of Paris Air and became legendary for its inaugural show, “Les Ateliers du Paradise,” which featured artists living in the gallery and later influenced critic Nicolas Bourriaud’s theory of relational aesthetics. The gallery moved to Paris in 1994 and later to Romainville in 2019, showing artists such as Paul McCarthy, Raymond Pettibon, Liam Gillick, Pierre Huyghe, and Dorothy Iannone.

newspaper Artforum open_in_new Read original

trending_up market schedule May 12, 2026 visibility 15 link 19 artists, 1 gallery

Leading French Gallery Air de Paris Is Declaring Bankruptcy and Closing After 36 Years

Air de Paris, a leading French gallery, is declaring bankruptcy and closing after 36 years, as announced by cofounders Florence Bonnefous and Edouard Merino to Cultured. The gallery owes money only to its landlord and bank, not to its artists. The closure is attributed to fragile finances and health issues, including Bonnefous's Chronic Obstructive Pulmonary Disease. The gallery's farewell exhibition, “Oh What a Time,” featured artists such as Trisha Donnelly, Joseph Grigely, Pati Hill, Pierre Joseph, Allen Ruppersberg, Lily van der Stokker, Mona Varichon, and Amy Vogel. Bonnefous will continue to manage the estates of Guy de Cointet, Pati Hill, Dorothy Iannone, Bruno Pelassy, and Sarah Pucci, and work as a curator.

newspaper ARTnews open_in_new Read original

trending_up market schedule Apr 30, 2026 source 2 sources visibility 24 link 5 artists, 1 gallery

Full extent of Stephen Friedman Gallery's £7.8m debt revealed in filings

Administrators' filings for Stephen Friedman Gallery reveal a total debt of £7.8 million following its closure in February. Three prominent artists—Alexandre Diop, Deborah Roberts, and Kehinde Wiley—are among the unsecured creditors owed a combined £795,000, expected to recover only eight to nine pence per pound. The largest secured creditor is Coutts & Company, owed £3.1 million, followed by Pentland Group with £1.4 million outstanding. The gallery also owes £505,113 to the Pollen Estate for its Cork Street lease, £550,000 to HMRC, and significant sums to shipping and storage firms, including Crozier (£256,470) and Gander & White (£86,772). Art fairs Frieze and Art Basel Qatar are owed £71,227 and £18,763 respectively.

newspaper The Art Newspaper Also: The Art Newspaper open_in_new Read original

article news schedule May 12, 2026 visibility 23 link 31 artists, 2 galleries

Air de Paris, a Radical Stalwart of the French Gallery Scene, Is Closing

After 36 years and over 400 exhibitions, the radical Parisian gallery Air de Paris is closing due to bankruptcy. Co-founders Florence Bonnefous and Edouard Merino decided to shutter the gallery after its financial situation became fragile, compounded by Bonnefous's health issues (Chronic Obstructive Pulmonary Disease) and their refusal to adapt to the increasingly profit-driven, corporatist art market. The gallery's final show, titled “Oh What a Time,” in Romainville featured works by artists including Joseph Grigely, Amy Vogel, Allen Ruppersberg, Pierre Joseph, Mona Varichon, Pati Hill, Lily van der Stokker, and Trisha Donnelly.

newspaper Cultured open_in_new Read original