one takeaway from art basel it remains a buyers market 2659059

Art Basel 2025 saw cautious buying despite optimistic statements from major dealers like Pace's Marc Glimcher, who claimed sales velocity was as vigorous as any year. However, collector attendance was thin, with American attendance down for the second year running due to trade tensions and geopolitical concerns. Deals were closing at 20 to 30 percent below asking prices, confirming a buyer's market. Sales ranged from a $245 collectible Labubu figurine by Kasing Lung to works by Wei Libo, Joyce Joumaa, Lonnie Holley, Joan Jonas, Hao Ling, Sarah Lucas, and Rosemarie Trockel, with most activity under $1 million.

ken griffin global recession iran strait of hormuz 1234781281

Billionaire hedge fund manager and prominent art collector Kenneth C. Griffin has issued a stark warning regarding the global economy, stating that a recession is inevitable if the Strait of Hormuz remains closed through the end of the year. Speaking at the Semafor World Economy summit, Griffin highlighted that the closure of this vital oil passageway has created energy shocks and treacherous conditions for central bankers, potentially forcing further interest rate hikes to combat inflation.

christies triple header 20th and 21st century evening sales nets 265 m as london proves its still a draw to collectors 1234776027

Christie’s London achieved a robust £197.5 million ($265 million) across a triple-header of evening sales, including the 20th/21st Century, Art of the Surreal, and the Vanthournout Collection auctions. The evening was headlined by a record-breaking £26.3 million sale of Henry Moore’s bronze sculpture 'King and Queen', alongside new auction highs for Surrealist artists Toyen and Dorothea Tanning. Despite some pre-sale withdrawals and a marathon four-hour runtime, the house achieved a 96 percent sell-through rate by lot.

see all artworks unlimited 2024 art basel switzerland 2498466

Art Basel's Unlimited sector opened on Monday at the Messeplatz in Basel, featuring 70 large-scale projects selected from 93 galleries. Curated by Giovanni Carmine, the showcase includes works such as Agnes Denes' wheat field installation, Mario Ceroli's peace-themed flags, Christo's wrapped Volkswagen Beetle (priced at $4 million), and pieces by Lutz Bacher, Alex Da Corte, and Anna Uddenberg. VIP collectors and museum directors, including Paul Ettlinger and Chris Dercon, were among the first attendees, with galleries using early social media posts to signal status and generate buzz.

Strikes Damage UNESCO Sites in Israel and Iran; Cologne Cathedral to Charge Tourists Entry

strikes damage unesco sites in israel and iran cologne cathedral to charge tourists entry morning links for march 6 2026 1234775987

Escalating conflict in the Middle East has resulted in significant damage to UNESCO World Heritage sites in both Israel and Iran. In Tel Aviv, Iranian missile strikes damaged Bauhaus-style buildings in the White City district and the Habima National Theater, while Israeli and US bombings reportedly struck Tehran’s historic Golestan Palace. Meanwhile, the Cologne Cathedral announced it will begin charging tourists an entry fee in July to address a financial crisis, following a trend of European landmarks seeking new revenue streams for monument upkeep.

Saudis Renege on Met Opera Financial Aid, Berlin’s Culture Senator Resigns, and More: Morning Links for April 24, 2026

The Metropolitan Opera has announced that Saudi Arabia reneged on a noncommittal memorandum of understanding that would have provided up to $200 million over eight years to the cash-strapped New York institution. Met general manager Peter Gelb said the Saudis blamed the war in Iran and the blocked Strait of Hormuz, but funding had already failed to materialize before the conflict, prompting preemptive layoffs in January. Separately, Berlin culture senator Sarah Wedl-Wilson resigned after a state audit found she illegally authorized €2.6 million for 13 projects meant to combat antisemitism, violating budget regulations. Other news includes President Trump's plan to renovate the Lincoln Memorial reflecting pool, Ontario increasing support for the Art Gallery of Ontario and Royal Ontario Museum, Rome's new photography museum, and the appointment of Thiago de Paula Souza as curator of the eighth Athens Biennale.

tefaf fair maastricht edition undaunted global unrest 2026 1234776712

The 2025 edition of TEFAF Maastricht has opened with 277 dealers from 24 countries, showcasing 7,000 years of art history despite significant geopolitical instability in the Middle East. While the fair remains a premier destination for Old Masters and high-end antiques, exhibitors are navigating logistical hurdles caused by regional conflicts and airport closures in major transit hubs like Dubai.

Sotheby’s Opens the London Spring Marquee Sales With a £131M White-Glove Night

Sotheby’s London kicked off the spring auction season with a "white-glove" Modern & Contemporary Evening Sale, totaling £131 million ($176 million). Despite significant geopolitical instability and market anxiety following recent escalations in the Middle East, the auction achieved a 100 percent sell-through rate across 54 lots. Key highlights included works by Andy Warhol, a Claude Monet landscape once owned by John Singer Sargent, and a Jean-Michel Basquiat painting that sold for £3.7 million after a mid-sale renegotiation.

Art Transport Hobbled and Prices Surging in Asia Amid US and Israel’s War in Iran

The ongoing conflict involving the United States, Israel, and Iran has severely disrupted the global art logistics network, particularly in Asia. A report in the Art Newspaper details soaring costs and shipping delays, with international air freight for fine art spiking up to 300% due to increased oil prices. Some exhibitions, like a Per Kirkeby show in China, have opened with fewer works, and shipments for Art Basel Hong Kong were stuck at sea for over a month. Shippers are now considering alternative routes, such as the China-Europe Railway Express, to mitigate delays and costs.

Greek TV Auctioneer Arrested for Trafficked Artworks, Paul Klee’s ‘Angelus Novus’ Stuck in Israel: Morning Links for March 24, 2026

Greek television art auctioneer Giorgos Tsagarakis was arrested in Athens on felony charges for trafficking forged and stolen artworks and antiquities. Authorities dismantled his alleged counterfeit network after a social media post served as evidence, seizing hundreds of paintings, many believed to be forgeries, along with artifacts and cash. Collectors had grown suspicious after recognizing their own stolen items on his TV show.

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Art Basel, the flagship art fair, returns to Basel, Switzerland from June 17 to 22 amid a period of market contraction and geopolitical instability. The article explores key questions surrounding the fair, including whether the proliferation of new Art Basel editions in Paris and Doha is diluting interest in the original Swiss event. Gallerists and collectors weigh in, noting that while Paris is rising in importance, Basel retains unmatched prestige and draws a genuinely engaged international audience. The piece also highlights the fair's new "Premiere" section, which spotlights mid-career and established artists, featuring London gallery Edel Assanti's debut presentation of American artist Lonnie Holley.

Tefaf New York: determination in the face of Trump’s tariff chaos

Tefaf New York returns to the Park Avenue Armory with 91 exhibitors from four continents, presenting 7,000 years of art amid uncertainty caused by President Donald Trump's recently announced tariff regime. The fair's director, Leanne Jagtiani, sent a letter to exhibitors acknowledging the "significant impacts" on the industry, assuring them of close communication with shippers and legal advisers, and advocating for the exclusion of artworks from potential EU reciprocal tariffs. While artworks are understood to be exempt, antiques and contemporary works in unconventional materials may be subject to the new tariffs, creating confusion among dealers and collectors.

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Art Basel, the world's largest art fair, returns from June 17 to 22 amid ongoing market contraction and geopolitical instability. Meanwhile, Sotheby's London will auction the private collection of legendary art patron Pauline Karpidas in a 250-lot sale this September, estimated to fetch a record-setting $81 million. Additionally, Frieze will relocate to a new venue in Seoul for its fourth edition in the South Korean capital.

Art Dubai Downsizes Dramatically as War Reshapes Plans

Art Dubai has announced a significantly scaled-back 20th-anniversary edition, reducing its exhibitor list by 57 percent following regional conflict and logistical disruptions. Originally scheduled for April, the fair has been postponed to May 15–17 at Madinat Jumeirah and will now feature only 50 galleries, with a heavy emphasis on regional participants. To support dealers during this period of uncertainty, organizers have implemented a "risk-sharing" booth fee model where galleries pay a percentage of sales capped at their original fee.

Art Dubai announces details for revised 2026 edition

Art Dubai has unveiled the details for its 2026 "special edition," which features a significantly reduced scale in response to ongoing regional conflict. The fair will host 50 galleries—a sharp decline from the 120 participants in 2025—with a strategic focus on regional representation, as nearly two-thirds of the exhibitors hail from the Middle East. To compensate for the smaller commercial footprint, the event will deepen its ties with local institutions like the Sharjah Art Foundation and Alserkal Avenue through expanded collaborative programming.

israeli airstrike doha qatar risk of planning art basel fair 1234751253

On Tuesday, Israel carried out a missile strike in Doha, Qatar, targeting senior Hamas leaders, with explosions reported in the Leqtaifiya neighborhood and smoke visible over the Katara cultural district. The strike comes as a shock to Qatar, which has built a reputation for stability and is home to major art institutions operated by Qatar Museums, including Mathaf: Arab Museum of Modern Art, the National Museum of Qatar, and the Museum of Islamic Art. Art Basel, which announced in May a partnership with Qatar Sports Investments and QC+ to launch Art Basel Doha in February 2026, said it is closely monitoring developments and remains committed to the fair's inaugural edition.

Comment | The market grew in 2025 but ‘interest in art is waning’

The global art market saw a 4% growth in 2025 according to the latest Art Basel and UBS Art Market Report, yet the industry remains on edge. Despite the headline increase, the report reveals a sharp decline in the average number of buyers per gallery—reaching its lowest level since 2021—and rising operational costs for shipping and logistics. Protectionist trade policies and geopolitical instability, particularly escalating conflicts in the Middle East affecting oil prices, continue to strain the contemporary sector.

Lebanon’s Art Scene Is Living in ‘War Mode’

On April 8, 2025, a wave of Israeli airstrikes across Lebanon killed 357 people and injured over 1,200, a day now known as 'Black Wednesday.' Amid the violence, Lebanese artist Abed Al Kadiri, who grew up during Lebanon's civil war and Israeli occupation, has been working with displaced children in shelters, using art to help them process trauma. He collects their drawings and plans to combine them with sketches by other artists reflecting their own war experiences, creating concertina-style books to be exhibited and sold to raise funds for over 1.1 million displaced people.

Art market 2025 review: all eyes on the Gulf as Trump destabilises global order

The global art market continued to contract in 2025, with prominent galleries such as Blum, Clearing, Sperone Westwater, Tilton, Kasmin, TJ Boulting, Project Native Informant, Nir Altman, and Altman Siegel closing due to challenging macroeconomic conditions. However, a rebound emerged at the top end by autumn, driven by Sotheby's white-glove sale of the Pauline Karpidas collection, strong VVIP sales at Art Basel Paris, and New York's November auctions, where Klimt's *Portrait of Elisabeth Lederer* (1914-16) sold for $236.3 million and Frida Kahlo's *El Sueño (la cama)* (1940) for $54.7 million. Christie's and Sotheby's reported increased sales from 2024, with second-half auctions up 26% year-on-year, though recovery remains uneven and concentrated in classic secondary-market tastes.

An Era Ends When the Illusions Underlying It Are Exhausted

"Eine Ära endet, wenn die ihr zugrunde liegenden Illusionen erschöpft sind"

A media roundup covers several art world stories. The Art Newspaper reports that the ongoing Middle East conflict is unsettling the Gulf art market, causing fair postponements and shaking Dubai's image as a stable luxury hub, though galleries emphasize they continue to work. Meanwhile, the search for a new director for Germany's Kulturstiftung Dessau-Wörlitz continues after a protracted legal battle, with applications open until May 31. The New Yorker presents a reading of Johannes Vermeer's quiet scenes as fragile refuges from a violent historical context, while the Berliner Zeitung critiques the global commercialization of Frida Kahlo into a licensed brand.

Running from one image to another, from one time to another, from one hope to another: at Circolo, in Milan, an exhibition on the contemporary Lebanese scene

The article reviews "Shifting Crossroads. Beirut Contemporary," an exhibition at Circolo in Milan that surveys the contemporary Lebanese art scene. It features internationally recognized artists like Mona Hatoum and Simone Fattal alongside emerging talents, including works from the Saikalis Bay Foundation, founded in 2024 by Nicole Saikalis and Matteo Bay. The show spans historical-archival investigation, photography, installation, painting, and sculpture, with pieces such as Stéphanie Saadé's "Stage of Life" (2021), Catherine Cattaruzza's "I am Folding the Land" (2022), and Joana Hadjithomas & Khalil Joreige's "Waiting for the Barbarians" (2013) exploring themes of memory, fragility, and geopolitical instability.

huge library of ashurbanipal 2709162

The British Museum houses the Library of Ashurbanipal, a collection of approximately 30,000 cuneiform tablets from the Assyrian Empire, discovered in the 19th century. Created by King Ashurbanipal (r. 669–631 BCE), the library contains texts on astronomy, medicine, history, and literature, including the Epic of Gilgamesh. The tablets survived a fire set by invading Babylonians and Medes, which hardened them. Recent excavations in Nineveh have uncovered more tablets and a 20-foot-tall winged bull statue, while the British Museum's Ashurbanipal Library Project, now led by curator Jon Taylor, focuses on digitizing and studying medical texts.

Anxious collectors are increasingly turning to freeport havens, experts say

Rising tariffs, geopolitical instability, and extreme weather events are driving art collectors to move valuable items into secure, tax-friendly freeports, particularly in Switzerland. Experts Alexandre Ducamp of Natural le Coultre and Fritz Dietl of Delaware Freeport report a significant increase in clients over the past three years, citing the war in Ukraine, multiple ongoing conflicts, and President Trump's April 2025 'Liberation Day' tariffs as key factors. Collectors are using freeports in Geneva, Zurich, Basel, and Chiasso, as well as foreign trade zones in Delaware, to delay or avoid import duties on items like design furniture, antiques, and Chinese-origin artworks, with some purchases being cancelled due to new tariffs.

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Art Basel Qatar is set to proceed as scheduled in early February despite heightened Gulf tensions following U.S. and U.K. troop reductions near Doha. Dealers and visitors remain cautious, with some delaying travel plans, while Iran's temporary airspace closures have disrupted flights. Organizers say they are continually evaluating the security environment and remain committed to delivering a successful inaugural edition.

Centuries-old pottery firm Denby set to call in administrators

The 217-year-old British pottery firm Denby has called in administrators, putting nearly 600 jobs at risk and threatening the closure of the historic Derbyshire manufacturer. The company, which also owns the Burleigh brand, struggled with soaring gas costs, higher labor expenses, tighter financial markets, and softening consumer demand for its premium homeware, leading to a 17% sales drop in its most recent accounts.

Istanbul Bets on Contemporary Art: New Space Announced During CI Bloom Fair

Istanbul scommette sull’arte contemporanea: durante la fiera CI Bloom annunciato l’arrivo di un nuovo spazio

The fifth edition of CI Bloom, the boutique contemporary art fair organized by Contemporary Istanbul, recently concluded at the Lütfi Kırdar Congress and Exhibition Hall. Featuring 28 galleries and over 300 artists, the fair introduced aggressive financial incentives to support exhibitors, including a 30% reduction in participation fees, fixed exchange rates to mitigate currency risk, and a partnership with Turkish Airlines providing free art transport and customs coverage.