Wednesday, 4 February 2026
Saudi artist Safeya Binzagr achieved a record sale of $2.1 million at Sotheby’s second auction in Diriyah, surpassing the sales of renowned Western artists, including Pablo Picasso. This event underscores the increasing prominence of Arab artists in the global art market.
Ken Griffin, founder of Citadel, made headlines by purchasing Basquiat artworks for over half a billion dollars, highlighting his significant investment in the art market. Meanwhile, the Art Basel Qatar event opened with substantial government support but reported limited sales, reflecting challenges in the current art market. Additionally, a beloved London gallery is facing a decline, underscoring shifting dynamics in the global art scene.
Documents released by the U.S. Department of Justice reveal that Jeffrey Epstein played a significant role in managing billionaire Leon Black's $2.7 billion art collection from 2012 to 2017, despite Epstein's limited public presence in the art world. The files detail Epstein's involvement in structuring loans and financial arrangements for Black's art, including a $440 million art-backed credit line and a $260 million art loan. Prominent figures in the art market, including Jeff Koons, have distanced themselves from Epstein following the emergence of these documents.
An open letter has called for the resignation of Judy Schulich, a trustee of the Art Gallery of Ontario (AGO), following her role in a controversial vote against the acquisition of works by photographer Nan Goldin, which was influenced by allegations of antisemitism. The AGO's Modern and contemporary curatorial working committee voted 11-to-9 against acquiring Goldin's work, leading to the resignation of curator John Zeppetelli and two committee members. In response to the backlash, the AGO plans to restructure its committee into two separate groups focusing on 20th-century and 21st-century art later this year.
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