Art Industry News: Fashion Designer Valentino’s Trophy Basquiat Will Head to Christie’s With an Estimate of $45 Million + Other Stories


Art Industry News is a daily digest of the most consequential developments coming out of the art world and art market. Here’s what you need to know on this Thursday, April 20.


Prague Restored Artifacts Damaged in Syria – Prague’s National Museum will next month return a group of twenty artifacts that were damaged during an armed conflict in Syria after they were restored by the Czech institution. (ARTnews)

New Trump NFT Sells Out on First Day – The former U.S. president Donald Trump might be facing a great deal of uncertainties over his political career and legal disputes, but his NFTs are certainly doing well. After it was revealed that he’s made $1 million from selling his first collection of NFT last year, his second collection of 47,000 digital collectibles sold out in just one day after it was launched on Tuesday. (Cointelegraph)

Basquiat Owned by Valentino Heads to Auction – The 12-foot wide canvas work El Gran Espectaculo (The Nile) (1983), also known as Untitled (The History of Black People) from the collection of the famed Italian fashion designer will go on sale at Christie’s New York in May, with a presale estimate at $45 million. (ARTnews)

Museum of Shakespeare to Open in London – A new venue for the bard’s megafans will open in Shoreditch next year at the site of the Curtain Playhouse, one of the earliest theaters in London where Shakespeare’s plays were staged. Though other famous theaters like the Globe and the Theatre were built in the style of the “Wooden O” described in Henry V, the Curtain is actually a rectangular structure. The new museum will serve as an anchor at the forthcoming commercial development dubbed the Stage. (The Art Newspaper)


Christie’s Reveals Environmental Impact Report – The auction house says that it has reduced emissions by 37 percent since 2019. The progress is on track with its goal to reduce global carbon emissions by 50 percent and to achieve net zero by 2030. (Press release)

Senzeni Marasela Wins K21 Inaugural Global Art Award – The South African visual artist is the first recipient of the award, presented by the Stiftung Kunstsammlung Nordrhein-Westfalen in Dusseldorf. An exhibition of Marasela’s work is on view now at the museum, which will present the distinction to an artist annually from now on. (Press release)

Director of MMCA in South Korea Resigns – Youn Bum-mo has officially stepped down from his post as director of South Korea’s Museum of Modern and Contemporary Art, halfway through his second three-year term, which was set to expire in 2025. The leadership of MMCA has been constantly changing over the past decade, with a new director being appointed after a new president took office. Youn, who was appointed the role during the previous administration, had his contract renewed last year just shortly before the current president Yoon Suk-yeol took helm. In January, an audit of the museum revealed that it has had 16 instances of illegal or unfair business practice. (The Korea Herald)

Walker Art Center Appoints Rosario Güiraldes as Curator of Visual Arts – The Buenos Aires-born curator has joined the Minneapolis, Minnesota-based museum after serving as associate curator at the Drawing Center in New York. Güiraldes starts her new position on May 1, 2023. (Press release)


Scout Zabinski Opens London Debut at Carl Kostyal – Titled “Into the Veil,” the young American painter’s first solo in the U.K. capital features a new body of oil paintings and a foray into sculpture. The work is rich in cultural subtext and references to personal traumas, including a series of nude paintings depicting herself in vibrant colors and her first sculpture. (Press release)

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