Unknown Michelangelo Drawing Sells for $27.2 Million
A previously unknown drawing by Michelangelo, identified as a study for the foot of the Libyan Sibyl from the Sistine Chapel, sold for $27.2 million at Christie's auction, nearly 20 times its low estimate and setting a new record for the artist. The drawing, which is one of only about 10 Michelangelo sketches in private hands, was discovered by a Christie's specialist after an unsuspecting owner submitted a photograph for an auction estimate. The sale followed a strong performance in the Old Master Paintings category, which totaled over $54 million.
Philadelphia Museum of Art Restores Original Name
The Philadelphia Museum of Art has reverted to its original name, the Philadelphia Museum of Art, effective February 4, 2026, just five months after its controversial rebranding to Philadelphia Art Museum (PhAM). This decision followed a survey indicating overwhelming dissatisfaction among trustees, staff, and local residents regarding the name change, leading to a unanimous vote by the museum board. While the museum will retain the new griffin logo introduced in October 2025, it plans to restore its original URL and social media handles.
Banco Santander to Manage Gelman Collection of Mexican Art
Banco Santander announced on January 21 that it will manage 160 works from the Gelman Collection of 20th-century Mexican art, following a long-term agreement with the Zambrano family, who acquired the collection in 2023. The collection, which includes 18 works by Frida Kahlo, will be showcased in an inaugural exhibition at Faro Santander in Cantabria, Spain, this summer, although some pieces are classified as National Artistic Monuments under Mexican law, limiting their mobility. The Gelman Collection has been largely inaccessible to the public since 2008.
Qatar to Host Gerhard Richter Pavilion at Rubaiya Quadrennial
Sheikha al-Mayassa of Qatar announced plans for a Gerhard Richter pavilion as part of the upcoming Rubaiya Qatar quadrennial, set to open in November. The exhibition, titled _Unruly Waters_, will feature over 50 artists and more than 20 new commissions, exploring Qatar's historical and contemporary significance as a geopolitical hub. Curated by a team including Tom Eccles and Ruba Katrib, the event will also showcase historic objects from Qatar Museums.
