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THIS WEEK IN THE ART MARKET - FRIDAY 14TH MARCH 2025




Art Market News

THE BANKER’S JOURNEY, LINCOLN TOWNLEY

Art Works is delighted to announce The Banker’s Journey, an exhibition showcasing works by British artist Lincoln Townley (b. 1972) from his Bankers Collection. The Banker’s Journey is not only an opportunity for Art Works to hold a celebration for the ten-year anniversary of the Bankers Collection with the artist in Singapore, but it is also a chance to celebrate the ten-year anniversary of Art Works representing Townley. The exhibition will take the viewer along the journey of both the development of the series and Lincoln Townley’s artistic practice. Featuring both new and historic works, The Banker’s Journey encapsulates the breadth of the body of work. The exhibition will run from April 3rd – April 20th 2025.

 

 

Lincoln Townley in his studio 

 

ARCOMADRID 2025 HIGHLIGHTS A BUOYANT SPANISH ART MARKET

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ARCOmadrid opened its 44th edition last week, presenting 214 galleries from 36 countries. Of these exhibitors, around a third were Spanish galleries and with strong contingents from Portugal, France, Germany, Brazil, and Argentina. ARCO also gains public funding through its collaboration with Acción Cultural Española, the Spanish governmental cultural agency. The layout of the fair included specific sections for galleries under 8 years old and curated installations, as well as a program highlighting prominent Spanish businesses. Throughout the city, a number of exhibitions ran alongside the fair, including a new show at the Museo Thyssen-Bornemisza titled ‘Proust and the Arts.’ A feeling of connectivity and community ran throughout the fair, with galleries using the fair’s focus on Latin America to strengthen their own connections with the region. There was also a particular focus for international galleries to engage with local institutions and secure those institutional placements. While many galleries spotlighted artists from the region, there were a number that used ARCO as an opportunity to showcase international artists through solo booths. 193 Gallery from Paris focuses on bringing new works to each region and presented Ivorian artist Joana Choumali. As for sales, notable blue-chip sales included an Antony Gormley sculpture for €550,000 ($596,684), a Daniel Richter painting for €420,000 ($455,650), and a Francis Picabia drawing for €200,000 ($216,976) at Thaddaeus Ropac. A Stanley Whitney work was also sold by Galerie Nordenhake for $650,000.

 

 

Joana Choumali, installation view of 193 Gallery's booth at ARCOmadrid 2025

 

THIS REMOTE ‘ART FOREST’ AIMS TO RESHAPE THAILAND’S CULTURAL LANDSCAPE

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A number of works by artists from across the world now inhabit the Khao Yai Art Forest, a new 161-acre art destination in Thailand. Located near Khao Yai National Park, a UNESCO World Heritage Site, the project was created by Marisa Chearavanont, a prominent philanthropist and art patron within the art scene in Thailand. She is currently on Tate’s Asia-Pacific Acquisition Committee and the International Leadership Council of New Museum in New York. The project aims to create a healing space that combines art and nature, with plans for the art forest borne in 2020 during Chearavanont’s time in Khao Yai. Following her purchase of a number of works from Hauser and Wirth, Chearavanont had the idea of building a museum in the remote region in order to showcase this collection. However, there was immense risk in building an institution in Khao Yai, which is where the Bangkok Kunsthalle entered the equation as a way to sustain and engage a wide audience. The juxtaposition of the urban landscape of Bangkok with the rural forest of Khao Yai created a multifaceted model that challenged the conventional institutional norms. Alongside the  works, there is also an artist-in-residence program that invites the artists to contribute to the shaping of the landscape and engage with practices such as land art. Of the works included in the park, highlights include Louise Bourgeoise’s Maman (1999-2002) and Richard Long’s Madrid Circle (1988). Chearavanont has also brought on Stefano Rabolli Pansera, former director at Hauser & Wirth, to collaborate on this project.

 

 

Richard Long, Madrid Circle.

 

SOPHIE RISTELHUEBER WINS 2025 HASSELBLAD AWARD

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Sophie Ristelhueber has received the 2025 Hasselblad Award, considered the world’s most prestigious award for a living photographer to receive. Awarded by the Hasselblad Foundation, the prize consists of 2 million Swedish kronor (USD 200,100), a Hasselblad camera and a gold medal. Ristelhueber will open a solo show at the Hasselblad Center on October 11, her first solo show in the region. There will also be a planned series of events that week, with the ceremony taking place on October 10 in Gothenburg, Sweden. Ristelhueber was born in Paris in 1949 and studied literature at the Sorbonne, where she developed an interest in the “new novel” movement. This lent itself to her own practice which focuses on the impact of war and often depicts ruined landscapes devoid of people. The foundation described her works in a statement, “through her series, created in war-torn regions, she challenged the field of journalistic photography, developing her own visual language. The traces and scars of violence—on land, the human body, and architecture—are central to her powerful, tightly cropped images, most notably in her acclaimed series focusing on the Middle East and the Balkans.”

 

Sophie Ristelhueber

 

SYLVIE FLEURY’S WORK IN DIALOGUE WITH MATISSE MAKES FOR A PROVOCATIVE EXPLORATION OF THE FEMALE FORM

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‘Drawing on Matisse, An Exhibition by Sylvie Fleury,’ is on at Luxembourg + Co in London, show until 2 May 2025. In this exhibition Swiss artist Sylvie Fleury draws upon the works of Henri Matisse, presenting her own pieces alongside drawings and cut-outs by Matisse. Fleury has long been drawn to the fashion and beauty industry and how the subversion of the status symbols of this industry can be used to critique materialism. Fleury uses the recontextualization of everyday objects in order to reconsider art’s role as a commodity, while simultaneously referencing prominent male artists like Piet Mondrian, Jean Dubuffet, and Frank Stella. Fleury was particularly interested in the clean outlines of the female forms in Matisse’s oeuvre, selecting works that gently morph the female silhouette to create a minimalist representation of the body. Pairing these with her own new works, Fleury delves into the theme of dismemberment and focuses on body parts as individual entities in of themselves.

 

 

Left, Christiane, 1949, by Henri Matisse and right, After All, 2022, by Sylvie Fleur

 

WORKS FROM SIR ANTHONY CARO’S COLLECTION HEAD TO CHRISTIE’S NY AUCTION

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As part of the Spring Marquee Week in New York, Christie’s will be presenting a selection of works from the collection of Sir Anthony Caro. A prominent British sculptor of the 20th century, Caro’s collection includes works by his close friends and contemporaries, including Helen Frankenthaler, Kenneth Noland, and Hans Hofmann. The collection also reflects the transatlantic nature of Caro’s life and the friendships that he gained along the way. The early years of Caro’s career were defined by his exploration of figurative forms, but this vision shifted toward abstraction following a trip to the US in 1959 where he began his friendships with artists like Frankenthaler and Noland. Highlights of the collection include Frankenthaler’s Hansel and Gretel (1972) and Noland’s The Purkinje Effect (1964). The works will be presented as part of the full exhibition at Christie’s Rockefeller Centre galleries in New York, as part of the Postwar and Contemporary Day Sale.

 

Kenneth Noland, The Purkinje Effect, 1964




Published on March 14, 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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