
THIS WEEK IN THE ART MARKET - FRIDAY 8TH AUGUST 2025
Art Market News
MOMA, LACMA, AND THE BROOKLYN MUSEUM RECEIVE MAJOR DONATION INCLUDING VAN GOGH AND MODIGLIANI WORKS
The Brooklyn Museum, Los Angeles County Museum of Art (LACMA), and the Museum of Modern Art (MoMA) in New York, have just received 63 Impressionist, Post-Impressionist, and modern works as a donation from the Henry and Rose Pearlman Foundation. The donation includes works by Paul Cézanne, Vincent van Gogh, Amedeo Modigliani, Edgar Degas, Chaïm Soutine, Édouard Manet, Paul Gauguin, and Henri de Toulouse-Lautrec. LACMA will receive six works, including pieces by Manet and van Gogh, while the Brooklyn Museum will receive 29 works including Degas and Modigliani. MoMa will be accepting 28 works including pieces by Cezanne. The works will be presented in an upcoming exhibition titled, “Village Square: Gifts of Modern Art from the Pearlman Collection to the Brooklyn Museum, LACMA and MoMA.” It will be a travelling exhibition, beginning at LACMA in February 2026 before heading to the Brooklyn Museum in July 2026. It has also been noted that there is the possibility of a MoMA show in the near future that will include the donated works. The Pearlman Foundation was established in 1945 following the acquisition of a Soutine landscape painting by businessman Henry Pearlman. His wife Rose has been in charge of the collection since 1974, following the passing of her husband, and the collection has been on loan to the Princeton University Art Museum since 1976.
Daniel Edemann, the president of the foundation, has shared, “We ultimately chose the Brooklyn Museum for the works that tell Henry’s story of discovery and for its commitment to engaging a diverse community; LACMA for works that specifically enhance their ability to innovate around bringing art to where people are; and MoMA, where Cézanne’s works on paper will be shared and cared for by one of the finest departments of drawings and prints that we know, as well as a half dozen of his paintings that together support the artist’s foundational role in the story of modern art.”
Paul Cézanne, Mont Sainte-Victoire, c. 1904–06
MANIFESTA REVEALS LOCATION FOR 2028 EDITION
The location of Manifesta’s seventeenth edition has been announced as Coimbra, Portugal. Set to open in 2028, this edition is in cooperation with Anozero – Biennial of Contemporary Art, which is organised by the Municipality of Coimbra and the University of Coimbra. Hedwig Fijen, director of Manifesta, has noted that this highlights the new era of cross-cultural collaboration for Manifesta within the European arts and architecture landscape. Malgarida Balseiro Lopes, Portugal’s minister of culture, youth, and sports, shared in a statement, “This decision is of great significance, as it recognizes the value of a transformative dialogue between art and society, bringing to the city, the region and the country a major cultural event with proven economic return and strong tourism potential. Particularly noteworthy in this biennial, beyond its international visibility, is its capacity for urban regeneration with lasting impact and the mobilization and training of national teams.” Previous locations have included Rotterdam, the Netherlands; Ljubljana, Slovenia; St Petersburg, Russia; Murcia, Spain, in dialogue with northern Africa; Marseille, France; and Prishtina, Kosovo.
Manga Cloister, Coimbra, Portugal, August 22, 2017
NEW YORK GALLERY KASMIN WILL CLOSE THIS AUTUMN AS LEADERSHIP LAUNCHES NEW VENTURE, OLNEY GLEASON
Chelsea gallery Kasmin will be closing this autumn and transitioning to Olney Gleason, a new enterprise led by Kasmin president Nick Olney and senior director Eric Gleason. It has been noted by Olney and Gleason that the shift is in alignment with the wishes of Kasmin’s late founder, Paul Kasmin. The son of legendary art dealer John ‘Kas’ Kasmin, Paul Kasmin was one of the first dealers to migrate from Soho to Chelsea. Across its 35 years of operation, the gallery has held more than 350 exhibitions and represented over 100 artists. Within the new venture, Gleason will continue to work with some of the artists and will set up a flagship space in Chelsea this autumn. Kasmin’s legacy includes the growing of François-Xavier’s and Claude Lalanne’s markets in the US. He also took over Lee Krasner’s estate in 2016, with the gallery continuing to work with estates and representatives of historical figures. It has not been announced whether the new venture will be based in Kasmin’s current spaces on 10th Avenue and West 27th Street.
Nick Olney (left) and Eric Gleason
INSIDE PAULINE KARPIDAS’S LEGENDARY SURREALIST COLLECTION BOUND FOR AUCTION
The collection of Pauline Karpidas, a patron known for her collection of Modern and contemporary art, will be going under the hammer at Sotheby’s in London this autumn. The auction will include 250 lots, featuring works by Surrealist masters René Magritte, Leonora Carrington, and Les Lalannes. The sale holds an estimated total of £60 million ($81 million) which is the highest estimate for a single collection at Sotheby’s Europe. Following her childhood in Manchester, Karpidas moved to Athens in 1960 to set up a boutique called My Fair Lady. She met her husband Alexander Iolas in Athens, a shipping magnate who introduced Karpidas to art and in particular to the Surrealists. Her collection is now considered one of the “deepest and most comprehensive” troves of Surrealist works to come to market. Her collection also includes household contemporary names such as Andy Warhol and Jeff Koons. As for the Sotheby’s sale, highlights include Magritte’s La Statue volante (1940-41), a painting that was shown at Iolas’ own gallery in New York, catapulting Magritte’s name in the U.S. The lot is estimated to reach £9 million to £12 million ($11.9 million to $15.9 million) and holds the highest estimate of the auction. There will be another 10 lots by Magritte that will be included in the sale, including La Race blanche (1937) and Tête (1960). The Hour of Angelus (1949) by Leonora Carrington will also be a part of the sale, holding an estimate of £600,00 - £800,000. Karpidas has said that she has always seen herself as a custodian of the art and that she felt that now was the right time for the pieces to find new custodians.
A view of Karpidas’ salon, the walls hung with the artworks
STEPHEN FRIEDMAN GALLERY, FORTES D’ALOIA & GABRIEL, AND QUADRA, ANNOUNCE CO-REPRESENTATION OF ANA CLÁUDIA ALMEIDA
Stephen Friedman Gallery (London and New York), Fortes D’Aloia (São Paolo and Rio de Janeiro) and Quadra (São Paolo and Rio de Janeiro) have announced their co-representation of Ana Cláudia Almeida, a Brooklyn-based Brazilian artist. The galleries all share the aim of expanding the artist’s exhibition history and widening her global presence. Stephen Friedman has said, “For Ana Cláudia, identity is both the medium and the message. She weaves together personal histories, social structures, and materiality to question established narratives and spark dialogue about how we see and understand ourselves—and each other—through art. In many ways, she’s an alchemist—transforming lived experience into powerful, abstract form.” This September, Stephen Friedman Gallery will be presenting Almeida’s first solo exhibition in New York, titled Over Again. The show will include a site-specific installation, new fabric works, as well as large-scale paintings. Márcia Fortes, co-founder of Fortes D’Aloia & Gabriel, has noted the importance of collaboration within the art world, “in a rapidly changing landscape, the spirit of camaraderie—across galleries, cultures, and practices—keeps things moving forward. This co-representation allows us to build connections not just for Ana Cláudia, but for a more collaborative art world, where unity and mutual support open up new possibilities for both artists and institutions.”
Ana Cládia Almedia
MONIRA AL QADIRI’S HALF-HUMAN HALF-SCARAB TO OVERLOOK NEW YORK’S CENTRAL PARK
Commissioned by the Public Art Fund, Berlin-based Kuwaiti artist Monira Al Qadiri is showing her first public artwork in New York’s Central Park. The 7-foot sculpture will draw inspiration from Ancient Egyptian culture, reimaging the deity Khepri in a hybrid human-scarab form. Al Qadiri has shared her aims for First Sun, noting how she hopes visitors will “recognise the divine in what we might otherwise overlook.” The public installation will also coincide with Al Qadiri’s first solo exhibition, opening at Perrotin in New York this September. Throughout her practice, Al Qadiri explores themes of gender fluidity, ecological interdependence, and mysticism. In the autumn of 2026, First Sun will travel to Lassonde Art Trail in Toronto as part of a co-commissioning initiative. The sculpture will be on view from 3rd September 2025 until 2nd August 2026.
Monica Al Qadiri
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.