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THIS WEEK IN THE ART MARKET - FRIDAY 20TH JUNE 2025




Art Market News

CHARITY ART AUCTION IN COLLABORATION WITH UNHCR AT ART WORKS GALLERY

Today Art Works Gallery will be holding a charity art auction in collaboration with UNHCR, the UN Refugee Agency. The preview exhibition of the auction opened on 18th June, presenting pieces by both international and Singapore-based artists; from Andy Yang’s expressive abstract painting, Benevolence (2020), to Zhang Fuming’s striking woodcuts. All proceeds from the auction will go towards UNHCR, and the important work they carry out across the world. UNHCR, the UN Refugee Agency, is a global organization dedicated to saving lives, protecting rights and building a better future for people forced to flee their homes because of conflict and persecution. It leads international action to protect refugees, forcibly displaced communities and stateless people, delivering life-saving assistance, helping safeguard fundamental human rights, and developing solutions that ensure people have a safe place called home where they can rebuild towards a brighter tomorrow. UNHCR works in over 130 countries, using its expertise to protect and care for the more than 123 million people around the world who are forcibly displaced.

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Andy Yang, Benevolence, 2020

 

DAVID HOCKNEY PAINTING LEADS ART BASEL 2025 SALES WITH EIGHT-FIGURE TRANSACTION

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Art Basel opened its 56th edition on 17th June in Basel, Switzerland. The fair included 289 galleries from 40 countries, with the preview day bringing together the likes of collectors, museum directors, artists, and advisors. By the end of the first day, several galleries had reported seven-figure sales and leading these initial sales was David Hockney’s Mid November Tunnel (2006), sold for $13 million - $17 million by Annely Juda Fine Art. In addition, David Zwirner reported the sale of a Ruth Asawa sculpture for $9.5 million and a Gerhard Richter painting for $6.8 million. Mark Bradford’s Ain’t Got Time to Worry and Sin and Love and Fear sold for $2.5 million each at Hauser & Wirth and Pace reported the sale of Agnes Martin’s Untitled #5(2002) for over $4 million. At White Cube’s booth, Georg Baselitz’s Oh ho, siamo ritornati, am deutschen Wesen, Weltgenesungsbild (2023) was sold for €2.2 million ($2.52 million). Prior to the fair, concerns arose around the sales of blue-chip works in the current climate. However, by the end of the preview day these fears seemed to have been curbed. Iwan Wirth, president of Hauser & Wirth, said in a statement, “this is the fair where you are guaranteed to see masterworks you otherwise wouldn’t, to be reminded of the best art’s ability to ambush ennui and shock the senses back to life.”

 

 

David Hockney, Mid November Tunnel, 2006

 

SCULPTURAL WORKS BY EMERGING ARTISTS WIN BALOISE ART PRIZE

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This year’s recipients of the Baloise Art Prize are London-based Rhea Dillon and Lebanese Canadian artist Joyce Joumaa. The Baloise Art Prize is given to two presentations every year at the fair’s Statements section. Dillon was awarded the prize for Leaning Figures, presented with Soft Opening gallery, a series of wall-based sculptural works that mimic cut-crystal plates. The sculptures have been cast in resin mixed with molasses and soil from Jamaica. Joumaa was recognised for Periodic Sights, an installation piece that includes fuse boxes, illuminated and refitted with photographs of Beirut and Tripoli. The piece reflects on the energy crisis in Lebanon and was shown by Galerie Eli Kerr. Dillon’s series was acquired by the Museum für Moderne Kunst (MMK), while Joumaa’s was acquired by Mudam Luxembourg.

 

 

Rhea Dillon’s winning Leaning Figures

 

MAGNATE BOB RENNIE DONATES $22.8M WORTH OF ART TO OTTAWA’S NATIONAL GALLERY CANADA

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The National Gallery of Canada (NGC) has just received a major donation from Bob Rennie, a prominent art collector and Vancouver real estate magnate. Rennie has donated 61 artworks, totalling a value of CAD 22.8 million. Since 2012, Rennie and his family have donated over 260 works to the museum, viewing his collection as an act of custodianship. Rennie has shared that it is a step to ensure that ‘artists are seen, and their voices are heard beyond their life and beyond my life.’ Works by artists such as Yinka Shonibare, Mona Hatoum, Ai Wei Wei and Meleko Mokgosi, are included in the recent donation. 40 works by the late Canadian artist Rodney Graham, have also been donated, including installations, lightboxes, paintings, and rare early pieces. Previously, Rennie showcased his collection in a private collection in Vancouver’s Chinatown; Rennie has since sold the Wing Sang Building in 2022 to become the Chinese Canadian Museum. Rennie has also served as chair on the North American acquisition committee for the Tate Modern, as well as holding previous chair positions at the Art Institute of Chicago, and the National Gallery of Art in Washington.

 

 

Rodney Graham, A Partial Overview of My Brief Modernist Career (2006–2009) (2006–2009)

 

THE LOUVRE CLOSED MONDAY DUE TO IMPROMPTU STAFF STRIKE OVER ‘UNTENABLE’ WORKING CONDITIONS

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The Louvre closed on Monday due to staff strikes over overcrowding and understaffing. Sarah Sefian, a union representation of CGT-Culture, shared that the strike was intended to last the entire day, with plans to open the “masterpiece route” for those who had bought tickets to see Da Vinci’s Mona Lisa and the Venus de Milo. Sefian noted the immense pressure that the team is under with the museum welcoming around 8.7 million visitors last year. President Emmanuel Macron announced a renovation plan that would place the Mona Lisa in a separate room with time-entry tickets, calling the project “Louvre New Renaissance.” However, concern has been raised by Sefian that this is not enough, with the union representative emphasising that, “our teams are under pressure now. It’s not just about the art — it’s about the people protecting it.” 

 

THE ULTRA-CONTEMPORARY CHINESE ARTISTS TO KNOW NOW

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Within the context of a rapidly changing world, a new wave of Chinese artists has emerged across the globe. From diasporic artists to those still based in China, Artnet have spotlighted five artists whose practice reflects the transformations and diversity within China’s art scene. The first artist on the list is Xia Yu (b. 1981), an artist who captures the everyday moments that hold a sense of fleeting joy or quiet resignation. Xia delicately portrays light through his chosen medium of tempera, forming an illuminated film-like grain on the surface of the canvas. The next artist is Ye Linghan (b. 1985), a Beijing-based artist who is best known for his “data portraits,” inspired by murals and sculptures of Dunhuang’s Buddhist caves. His practice is draws from art history while still retaining a post-internet sensibility. Zhang Yibei (b. 1992) is the third artist on the list, whose practice utilises material that may have been considered scrap industrial debris to explore overlooked aspects of construction in the urban space. Zhang’s process often integrates the examination of the relationship between artist, material, and concept. The other artists featured on the list are Gao Ludi (b. 1990) and Mai Hailun (b. 1992).

 

Installation view of “Ye Linghan: Yi, Alone or Together”, SPURS Gallery, Beijing, 2025

 




Published on June 20, 2025
Jordan Tan

Jordan Tan holds an MA in History of Art from the prestigious Courtauld Institute of Art. With a passion for fine art and the art market, Jordan plays a key role at Art Works by researching and interpreting trends across the primary and secondary markets, delivering valuable insights and business intelligence for the fine art department.

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