From the auction house crisis to institutional transformations, this week in the art world offers a complex picture of postponements, red accounts, and evolving strategies.
What news is coming from art fairs?
The 7th edition of Art Fair 14C, the main fair in New Jersey, has been postponed to May 2027. The organizers clarified that the delay is «a matter of organizational capacity» and that the choice «has nothing to do with the current state of the art market or general economic conditions».
What is happening in the major auction houses?
In 2025, Bonhams recorded a pre-tax loss increased by 90% to 213 million pounds (285 million dollars), in a context of a general market slowdown. The deficit is largely due to write-downs of 153 million pounds (205 million dollars), linked to downward revisions of future cash flows.
In the same period, the revenues of the UK-based auction house fell by 9%, settling at 176 million pounds (236 million dollars). The picture is therefore in sharp contrast to the post-2020 expansion years, when many auction houses benefited from exceptionally strong demand. (Data source: Financial Times)
Meanwhile, in Paris, a rediscovered drawing by the Rococo master Jean-Antoine Watteau will go up for auction at Christie’s on March 25. The work, never before exhibited and titled Actor Holding a Guitar Under His Arm, is estimated between 600,000 and 800,000 euros (700,000–935,000 dollars), confirming the constant interest in high-quality historical authors.
Also at Christie’s, over 700 lots belonging to former US President Jimmy Carter and First Lady Rosalynn Carter will be offered in an online sale within the “American Collector” cycle. Between January 13 and 18, total realizations between 80 and 120 million dollars are expected across nine auctions, which will include American folk art, furniture, books, and manuscripts.
In the organizational segment, Kimberly Miller has been appointed global managing director for Luxury at Christie’s. Having joined the wine department in 2010, she will now lead the high-end categories worldwide, a key sector for the profitability of auction houses.
How are galleries and artists moving?
On the gallery front, painter Amy Sillman leaves Gladstone Gallery to join the roster of David Zwirner, while maintaining representation with Thomas Dane in London. Additionally, San Francisco gallery Jessica Silverman begins representing artist and theorist Trevor Paglen, while painter Maya Hewitt joins the stable of Theta in New York.
In parallel, the Georgian gallery Bukia Vakhania announces the opening of a second space in Berlin, with an inauguration on January 15. The stated goal is to strengthen the presence of Georgian contemporary art on the international scene, leveraging the central role of the German capital in the European exhibition system.
What tensions are emerging in museums and institutions?
On January 5, the Louvre partially closed following a strike unanimously voted by the staff. Workers are demanding the resignation of director Laurence des Cars and the revision of a 820 million dollar restructuring plan, deemed «unrealistic» and unable to resolve urgent infrastructural issues.
Meanwhile, in Belgium, the project to dismantle the country’s oldest contemporary art museum, the Museum of Contemporary Art (M HKA) in Antwerp, has triggered resignations, legal appeals, and a strong public reaction. Among the critical voices are Luc Tuymans and Anish Kapoor. The plan will be discussed in the Flemish parliament during the month.
In the United States, Will Cary has been appointed executive vice president and chief operating officer of the Barnes Foundation. After about ten years within the Philadelphia institution, Cary already held the role of chief operating officer since 2023, indicating continuity in governance.
Additionally, Patton Hindle has been chosen as director of arts at the Knight Foundation, leaving the grantmaking entity Artadia, where she served as executive director. The appointment confirms the growing influence of large foundations in defining cultural priorities in the United States.
In Doha, the MATHAF: Arab Museum of Modern Art has announced a significant expansion of its campus. The project will be designed by architect Lina Ghotmeh, already commissioned to design the national pavilion of Qatar at the Venice Biennale Gardens, thus strengthening the link between Gulf institutions and major international exhibition platforms.
What are the most relevant legal cases and investigations?
On the judicial front, Gian Enzo Sperone, co-founder of the now-closed gallery Sperone Westwater, has accused former partner Angela Westwater of mismanagement in court. His action counters the accusations filed by Westwater at the end of December, claiming he neglected the gallery’s affairs.
In Brazil, three people have been arrested in connection with the theft of 13 works by Henri Matisse and Brazilian modernist Cândido Portinari from the Biblioteca Mário de Andrade in São Paulo, which occurred last month. A key suspect is still at large, and the works have not been recovered.
In Canada, the court dismissed a lawsuit filed by a British Columbia man against the estate of First Nations artist Norval Morrisseau, claiming he was sexually assaulted by the painter.
In France, seven years after a police operation that led to the recovery of over 20 stolen works, including at least seven by Pablo Picasso, in a house near Nice, ten defendants are now on trial in connection with the case.
What role do technology and finance play in the art system?
In the United States, the O-1B visa for «exceptional» creative talent is increasingly being awarded to influencers and OnlyFans stars. According to an immigration lawyer, metrics such as «likes» and follower count are useful in demonstrating the exceptional success required by the procedure.
In the financial sector, about half of the loans secured by artworks granted by non-bank operators went into default in 2024, according to the Art Finance 2025 report by Deloitte Private and ArtTactic. This is a drastic increase from 17% in 2023, signaling liquidity tensions among collectors and investors. (Analysis: Deloitte Private)
Despite this, the market for loans collateralized by artworks is estimated to grow from 33.9–40 billion dollars in 2025 to 42–50 billion dollars in 2027, confirming the attractiveness of the instrument compared to other forms of financing.
On the technological front, Hong Kong fintech executive and collector Alan Lau launches a new A.I. x Creativity Fellowship at the Schwarzman Centre for the Humanities at the University of Oxford. The first fellow selected is Refik Anadol, an artist known for his data-driven and artificial intelligence-based immersive environments, strengthening the link between academic research and digital practices. (Insights on University of Oxford)
Who are the figures in the art world who passed away this week?
Colombian painter Beatriz González, described as «the painter of Colombia’s memory», died at 93. For over six decades, she used vivid color compositions to depict the country’s violence and pay tribute to victims often ignored by official narratives. (Art Dependence)
Among her most notable works is A la Salida del Camerino (1989), which exemplifies her way of intertwining popular imagery and collective trauma. Compared to other protagonists of Latin American art, her research has particularly emphasized the theme of public memory.
Italian artist Lucia Di Luciano, a protagonist of the optical-programmed movement Arte Programmata, also passed away at 92. Her work, centered on modular structures and logical sequences, contributed to redefining the relationship between visual perception and systemic design in the post-war period.
In Japan, Mori Yoshiko, co-founder and chairperson emerita of the Mori Art Museum in Tokyo, died at 85. Her entrepreneurial and cultural action played a decisive role in transforming the Roppongi district into an international hub for contemporary art.
In the United States, Bob Monk, director of the Gagosian gallery and previously founder of the Lorence-Monk Gallery in New York, passed away at 75. Having joined the mega gallery in the late 1990s, he is particularly known for his work with Ed Ruscha and other leading artists. Monk left Gagosian in 2024.
In Boston, collector John P. Axelrod died at 79 in a hit-and-run car accident on January 3. A great supporter of African American and Latin American art, since 1985 he donated over 700 works to the Museum of Fine Arts, Boston, significantly contributing to the diversification of the museum’s collections.
What awards and recognitions have been given?
The Black Mountain College Prize 2025 was awarded to São Paulo artist Rosana Paulino. The recognition includes a grant of 20,000 dollars and a visit to the legendary college, to support her multimedia practice investigating the legacy of slavery in Brazil and its persistence in the present.
Meanwhile, Via Art Fund distributed 775,000 dollars in 2025 to artists and curators. Among the recipients of the production grants are Theaster Gates and Amie Siegel, who will receive 100,000 dollars each, Tau Lewis and Precious Okoyomon, with 75,000 dollars each, and Nick Cave, recipient of 60,000 dollars. The amounts underline the centrality of private support for large-scale production projects.
Finally, filmmaker and photographer María Alvarez received the Jorge M. Pérez Award 2026, valued at 25,000 dollars, awarded by the Miami non-profit organization YoungArts. The award recognizes emerging or mid-career artists who stand out for the cultural impact of their work.
Overall, amid declining budgets, strikes, art theft trials, and new investments in technology and research, the global cultural ecosystem shows a strong capacity to reorganize, while foundations, collectors, and institutions continue to redefine priorities and strategies for the coming years.
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist and Econique.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.
