Judge Orders Return of Modigliani Painting to Heir
A New York Supreme Court judge, Joel M. Cohen, has ordered art dealer David Nahmad to return the Modigliani painting _Seated Man with a Cane_ (1918), valued at $30 million, to the estate of Oscar Stettiner, a Jewish art dealer whose property was seized by the Nazis during World War II. This ruling concludes an 11-year legal battle initiated by Stettiner's grandson, Philippe Maestracci, who argued that the painting was unlawfully taken from his grandfather. Judge Cohen found that Stettiner had a superior right of possession prior to the painting's seizure, a claim supported by a 1946 French court decision.
Global art market sales rise 4% to $59.6 billion
The global art market showed signs of recovery in 2025, with total sales increasing by 4% to $59.6 billion, according to the annual UBS and Art Basel Report authored by Clare McAndrew. Auction sales rose by 9% to $20.7 billion, while dealer sales grew by 2% to $34.8 billion, although private sales declined by 5% to $4.2 billion. The United States remained the largest market with $26.0 billion in sales, followed by the United Kingdom at $10.5 billion and China at $8.5 billion.
Grand Palais to Host Matisse Exhibition in 2026
The Grand Palais in Paris, in collaboration with the Centre Pompidou, is hosting the exhibition 'Matisse, 1941-1954' from March 24 to July 26, 2026, showcasing over 300 works from Henri Matisse's final years. This period, marked by a radical reinvention following a serious intestinal surgery, highlights Matisse's innovative use of cut paper gouaches, which he developed into a distinct art form. The exhibition features key works such as the album 'Jazz' and the 'Intérieurs de Vence' series, illustrating the artist's synthesis of line and color.
DePaul University to close Art Museum in 2026
DePaul University has announced the closure of the DePaul Art Museum (DPAM) on June 30, 2026, following a budget deficit projection of $27.4 million for the year. Despite an open letter from over 3,000 students and faculty opposing the decision, the university plans to proceed with the closure, leaving its collection of approximately 4,000 works, including pieces by notable artists such as Christina Ramberg and Martin Puryear, in an uncertain state.
Art Institute of Chicago Acquires First Rockwell Painting
The Art Institute of Chicago has acquired its first painting by Norman Rockwell, titled 'The Dugout' (1948), which depicts dejected Chicago Cubs players after a loss to the Boston Braves. The work, the largest oil study Rockwell created for a Saturday Evening Post cover, was donated by former Illinois governor Bruce Rauner and his wife Diana Rauner, and is now displayed alongside notable works such as Grant Wood's 'American Gothic'. This acquisition coincides with the Cubs' 150-year anniversary in the National League.
