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Sotheby’s $304M Modern Evening Auction Confirms the Market Has Found Its Footing

Sotheby's Modern Evening Auction on May 19 achieved $304 million with a 98% sell-through rate across 45 lots, more than doubling the total from the equivalent sale in November. The auction was anchored by fresh-to-market masterpieces, including Henri Matisse's "La Chaise Lorraine" from the Barbier-Müller collection, which sold for $48.4 million—the second-highest price for a Matisse painting at auction. Other highlights included works from the Enrico Donati collection, which generated a combined $58.9 million, and Pablo Picasso's "Arlequin (Buste)" (1909) selling for $42.6 million. The sale contributed to a running combined total of $839.6 million for Sotheby's marquee sales, following strong results from the Mnuchin collection and Contemporary Day Auction.

George Costakis, collector and saviour of Soviet avant-garde art, celebrated with Athens exhibition

The National Gallery in Athens is hosting a major exhibition celebrating the legacy of George Costakis, the visionary collector who rescued thousands of Russian and Soviet avant-garde works from state-sponsored oblivion. Born in Moscow to Greek parents, Costakis spent decades acquiring pieces by artists like Kazimir Malevich and Liubov Popova at a time when such art was vilified by the Soviet regime. The new exhibition reinterprets these works through the lens of humanity's relationship with the environment, marking 30 years since the collection was first shown in Greece.

kazimir malevich mnac bucharest yaniv cohen dispute

Yaniv Cohen, a Bucharest-based Israeli businessman, is threatening to sue the art publication e-flux and Ukrainian American art historian Konstantin Akinsha for defamation over an article questioning the authenticity of three paintings attributed to Kazimir Malevich. The works—'Suprematist Composition in Color' (ca. 1915), 'Cubo-Futurist Composition' (ca. 1912–13), and 'Linear Suprematism' (ca. 1916)—are currently on view at the National Museum of Contemporary Art (MNAC) in Bucharest as part of the exhibition 'Kazimir Malevich: Outliving History.' Akinsha accused MNAC of lacking expertise and challenged the provenance of the previously unseen works, prompting Cohen to demand the article's removal and an apology via a letter from the Tel Aviv–based law firm Rosen-Ben Gal.

family says firm funding its legal battle for stolen paintings sought control of lawsuits

The son of late Palestinian businessman Uthman Khatib, Prince Castro Ben Leon, is suing LitFin Capital, the Prague-based litigation funder that financed his family's legal battle to recover 135 Russian avant-garde paintings allegedly stolen by Israeli Russian Mozes Frisch. The paintings, attributed to El Lissitzky, Kazimir Malevich, and Wassily Kandinsky, are valued at $323 million. A Paris court secured the works in January after they were seized from Paris-based authenticators ArtAnalysis, which had been holding them for Frisch. Castro claims LitFin is now refusing to pay legal bills unless it gains control of the lawsuits, violating their funding agreement. LitFin denies the allegations, stating it has always honored its contractual obligations.

Despite Putin’s repressive regime, a new private museum opens in Moscow

A new private museum called Zilart is set to open in Moscow on December 2, founded by billionaire couple Andrey and Yelizaveta Molchanov. The museum will showcase their collection of roughly 10,000 works, spanning Russian avant-garde, Soviet nonconformist art, international contemporary art, photography, and African art. Originally conceived in 2015 as a modern art branch of the State Hermitage Museum, the project underwent significant changes: architect Hani Rashid was replaced by Sergei Tchoban in 2021, and the Hermitage withdrew in 2023. The museum is entirely funded by the Molchanovs' LSR Group and receives no state support.

Open Letter on Auction of “Tributes” to the Russian Avant-Garde

An open letter signed by art historians, curators, and researchers protests an upcoming auction at Stanley's Auction House in Zaventem, Belgium, scheduled for April 23, titled “Tributes to the Russian Avant-Garde & Constructivists.” The second sale is organized in cooperation with Drouot, a major French auction platform, and offers approximately one hundred works from the so-called Toporovsky collection, which has been linked to a scandal involving forged Russian modernist paintings at the Museum of Fine Arts Ghent. The alleged suppliers, Igor Toporovsky and Olga Toporovsky, face criminal charges including the sale of 171 forged works for about €20 million, with court proceedings beginning in May in Ghent. The signatories argue that the auction, with works priced around €300 each, is deeply troubling given the pending legal case and the undisclosed consignor identity.

Prokofiev Studio: new gallery devoted to the abstract art of Oleg Prokofiev son of the composer & father of composer Gabriel Prokofiev

Composer Gabriel Prokofiev has opened Prokofiev Studio in Hackney, London, a new gallery dedicated to the abstract art of his father, Oleg Prokofiev (1928-1998). Oleg, son of the famed composer Sergei Prokofiev, created abstract works in the 1950s that defied the Soviet Union’s strict socialist realism doctrine. His career was shaped by his relationship with British art historian Camilla Gray, whom he married in 1969 after hiding his art for a decade; she died two years later. Oleg moved to the UK but believed his abstract works lost until a 1994 return to Moscow revealed they had been preserved. The gallery houses Oleg’s archive, including 1950s abstract artworks, letters, sketchbooks, and sculptures, with an inaugural exhibition titled "Bending Time" reconstructing his 1990s studio in Hackney Wick.

Are These Lost Malevich Masterpieces—or $190 Million Fakes?

An exhibition at the National Museum of Contemporary Art in Bucharest (MNAC) features three purportedly long-lost paintings by Kazimir Malevich, valued between $160 million and $190 million. The works, loaned by Israeli businessman Yaniv Cohen, were allegedly stored under the mattress of his grandmother-in-law, Eva Levando, for decades. However, Ukrainian-American art historian Konstantin Akinsha has publicly questioned their authenticity, citing incomplete provenance and a lack of consensus from international experts. The museum has faced criticism for including the paintings without additional scholarly analysis in the show "Kazimir Malevich: Outliving History," curated by Mariana Dragu and sponsored by a dental clinic owned by Cohen.

A museum packed with once banned art is flourishing in the Uzbek desert

The I.V. Savitsky State Art Museum in Nukus, Uzbekistan, near the former Aral Sea, houses nearly 100,000 works of 20th-century art, including Russian avant-garde pieces and Central Asian folk art. After a 2024 exhibition in Florence and Venice, the museum underwent a major renovation led by Italian academics and new director Gulbahar Izentaeva, reopening with updated galleries and a new exhibition, "The World of Igor Savitsky." The project is backed by the Art and Culture Development Foundation (ACDF), which also launched the inaugural Bukhara Biennial and partnered with Art Basel Paris.