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THE HEADLINES
RETURN OF THE KING. Jean-Michel Basquiat’s 1981 painting Crowns (Peso Neto) will headline Sotheby’s contemporary evening sale in New York this fall with a high estimate of $45 million. The painting has never before been sold at auction and carries the highest estimate for any work the late American artist made in 1981, the year that “marked Basquiat’s rise,” according to the house. Sotheby’s added that 1981 “lauched” the artist onto the international stage, with Crowns solidifying the “lexicon of symbols that would define his life and work.” Lucius Elliott, head of contemporary marquee auctions at Sotheby’s New York, told ARTnews that the painting, made when Basquiat was just 21 years old, “marks the turning point between his life as a street artist and his emergence onto the international art scene.” He added, “It’s both a self-portrait and a statement of intent—a declaration of who he was and what he stood for. Few works encapsulate his legacy so completely.”
THE GUEST LIST. On Thursday, Art Basel finally released the list of exhibitors for its inaugural fair in Qatar in February. While it is slimmer than most Art Basel affairs—87 in total compared to 206 for this month’s Paris fair—it is stacked with heavy hitters. Hauser & Wirth, Gagosian, Pace, David Zwirner, Thaddaeus Ropac,and White Cube will all be there, as well as, of course, a healthy number of first-timers and regional galleries, including Hafez (Jeddah and Riyadh, Saudi Arabia), Gallery Misr (Cairo), Saleh Barakat Gallery (Beirut), and Tabari Artspace (UAE). Artistic director Wael Shawky is taking some steps to differentiate Art Basel Qatar from its sister fairs: all the booths at this edition will be solo presentations, with all the artists announced ahead of time. More than half the artists hail from the Middle East, North Africa, and South Asia. “One of Wael’s goals was to showcase the potential that artists from the region have and giving them a platform at the global level,” Vincenzo de Bellis, Art Basel’s chief artistic officer and global director of fairs, told ARTnews.
THE DIGEST
Chicago’s Department of Cultural Affairs and Special Events was thrown into crisis this week following the sudden resignation of commissioner Clinée Hedspeth,announced during a Cultural Advisory Council meeting on Tuesday. [The Art Newspaper]
British Museum director Nicholas Cullinan goes into detail on the museum’s fundraising ball next week, which he has happily suggested is a British equivalent to the Met Gala. The tickets, however, are quite a bit cheaper: £2,000 per head versus the Met’s $75,000. [Financial Times]
The art scene in Iran is still in “a state of suspension and limbo” since the country’s 12-day war with Israel earlier this year. Sales have plummeted, while inflation has skyrocketed, putting artists, dealers, and collectors in precarious positions. [The Art Newspaper]
The Philadelphia Museum of Art has rebranded as the Philadelphia Art Museum, in order to place “Philadelphia front and center, celebrating the city’s grit, creativity, and industrial heritage.” [Press Release]
The Henry Street Settlement has found a new partner for its annual fundraiser after the Art Dealers Association of America canceled The Art Show. Next year’s gala will be held at Independent‘s spring fair. [ARTnews]
THE KICKER
BUILDING A LEGACY. Over the next five years, two new cultural landmarks will rise on Manhattan’s Fifth Avenue, about 40 blocks apart. The first is a $550 million wing at the Metropolitan Museum of Art dedicated to modern and contemporary art, on the Upper East Side. The second is a bold new home for Harlem’s National Black Theatre (NBT), a pioneering institution in Black arts and culture. As CNN reports, both projects are being led by Frida Escobedo , a 45-year-old architect from Mexico City. Until now, she had never designed a building in New York or led a cultural commission of this magnitude. Her appointment marks a historic milestone: she is the first woman to design a wing at the Met in its 155-year history. Escobedo is known for forging her own path in a male-dominated field. She launched her practice in 2006, bypassing the traditional mentorship model under high-profile architects. Her early work—such as the flexible concrete installation at Museo Experimental El Eco in Mexico City and the interactive Plaza Cívica in Lisbon—reflects a deep interest in public engagement and experimental form. These dual commissions cement Escobedo’s role as a transformative figure in global architecture and a defining voice in New York’s evolving cultural landscape.
