A painting by Raja Ravi Varma titled 'Yashoda and Krishna' sold for $17.9 million at a Saffronart auction in Delhi, setting a new auction record for an Indian painting. The buyer was pharmaceutical billionaire Cyrus Poonawalla, founder of the Serum Institute of India.
Jean-Marc Bottazzi, a Japanese bond trader and collector based in Hong Kong, discusses his philosophy of collecting in an interview with The Art Newspaper. He emphasizes deep, focused support of artists rather than acquiring a superficial variety, citing his extensive holdings of over 100 works by the 96-year-old Japanese artist A-Yo and deep collections of Abstract Expressionism, Gutai, and conceptual photography.
Major galleries reported significant seven-figure sales on the opening day of Art Basel Hong Kong. Hauser & Wirth sold works by Louise Bourgeois and George Condo for millions, while David Zwirner sold paintings by Liu Ye and Marlene Dumas for $3.8 million each. Pace Gallery's CEO noted a renewed energy, and other blue-chip dealers like White Cube and Lehman Maupin also reported high-value transactions, particularly with Asian collectors and institutions.
Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report
The contemporary art market has declined for the fourth consecutive year, with auction sales for postwar and contemporary works falling to $4.5 billion in 2025 from a peak of $8.5 billion in 2021. Simultaneously, the market has seen a significant rebound in more established categories, with auction sales of Impressionist and Post-Impressionist works rising 47% and Old Masters climbing 30% last year.
The article profiles Paul Arnhold, a New York-based glassblower and fourth-generation heir to a major Meissen porcelain collection. He discusses how his hands-on practice as a maker directly informs his eclectic approach to collecting, which spans from ancient Etruscan artifacts to contemporary paintings by artists like Salman Toor. He emphasizes collecting based on personal joy and tactile presence rather than provenance alone.