
THIS WEEK IN THE ART MARKET - FRIDAY 28TH MARCH 2025
Art Market News
TATE ANNOUNCES TRACEY EMIN AND ANA MENDIETA AMONG ARTISTS TO GET MAJOR BILLING
The Tate have announced their blockbuster programme that will place women artists in the spotlight, dedicated to three trailblazing artists in particular. Tracey Emin, Ana Mendieta, and Frida Kahlo, will lead with solo exhibitions. Running from 26 February to 31 August, an exhibition celebrating forty years of Tracey Emin’s practice will be on show, including career defining works of a variety of mediums. Following this, The Making of an Icon will showcase works by Frida Kahlo, and will feature over 130 works, including paintings, photographs, and memorabilia from the artist’s archives. Alongside Kahlo’s works, there will be 80 works by those she has inspired over the years. The exhibition will run from 25 June to 4 January 2027 and will highlight the transformative role that women artists played in the 20th century. Finally, the Tate will be presenting a major exhibition featuring works by Cuban American performance artist Ana Mendieta. Celebrated as a pioneer of environmental art, the exhibition will be the first time Mendieta’s works have been showcased in the UK. Tate has called Mendieta ‘one of the most important artists of the 20th century'. The exhibition will run from 9 July 2026 – 10 January 2027. Alongside these major exhibitions, other highlights include the Tate Britain’s presentation of Hurvin Anderson’s works from 26 March to 23 August 2026. There will also be an exhibition dedicated to the 1990s, that will feature works by artists like Yinka Shonibare, Damien Hirst, and Gillian Wearing.
Ana Mendieta, Imágen de Yágul, Mexico, 1973
BASQUIAT TO CHAGALL: HONG KONG’S INTERNATIONAL AUCTION HOUSES TURN TO HOUSEHOLD NAMES DURING ART WEEK
Running concurrent to Art Basel Hong Kong and art week, international auction houses are holding modern and contemporary marquee spring sales. The chairman of Modern and Contemporary art at Sotheby’s Asia, Elaine Holt, has explained this decision: “strategically aligning with Art Basel allows us to capitalise on the influx of international collectors and art enthusiasts in the city, maximising exposure and sales opportunities.” Within the last two years Sotheby’s, Christie’s, Phillips, and Bonhams have all opened sizeable locations with permanent showrooms in the city. Without the need for the use of the Hong Kong Convention Centre, this year the auction houses can hold concurrent events. At Christie’s evening sale this week, Jean-Michel Basquiat’s Sabado por la Noche (1984), will be going under the hammer for an estimate of HK$ 95m – HK$ 125m (USD 12.2m – USD16m). Other highlights of the fair include paintings by Zao Wou-Ki and René Magritte. The shift away from ultra-contemporary can also be noted, with blue-chip artists becoming more favourable, particularly highlighted at Sotheby’s. Leading the Sotheby’s sale is Fleurs de printemps (1930) by Marc Chagall, with other top lots from artists like Pierre-Auguste Renoir, Henry Moore, and Auguste Rodin. Despite the issue of sourcing arising, collector appetite in the region appears to remain healthy.
Marc Chagall, Fleurs de printemps, 1930
WHAT ART COLLECTORS NEED TO KNOW ABOUT TRUMP’S TARIFFS
The impact of the new Trump administration has been noted in the art market, particularly due to the introduction of tariffs. These have disrupted the flow of artworks as they are transported across the world for fairs and exhibitions; some international galleries are reconsidering participation in US art fairs due to the increased costs, while US based galleries hold concerns about representing artists who are based in affected countries. Countries that have been impacted by the tariffs include Canada, Mexico, and China, there has also been talk of tariffs placed on goods coming from the European Union. There is concern surrounding not only the cost of the works, but also the materials needed to pack and ship them. With the existing fragility of the ecosystem of the art market, changes such as tariffs can have an immense impact on all aspects of the industry. There has been discussion within the art world on the best way to move forward, with different themes emerging. On one hand, some professionals have been advising collectors to purchase now while exemptions are in place, while others have recommended acquiring works that can be shipped later, as the situation is still volatile and subject to change. The latter explanation can be attributed to the case of tariffs on Chinese art in 2019, where an initial tariff of 15% was dropped to 7.5% after negotiations. However, it is also important to maintain a view of the bigger picture, as the art market has adapted and withstood major events such as COVID-19. Francis Petit, a director at Gander & White, has shared how “even in uncertain times there are still opportunities, especially for collectors and investors with a long-term view.”
SINGAPORE ARTIST HO TZU NYEN TROUBLES THE BOUNDARY BETWEEN NOSTALGIA AND FUTURISM IN MASSIVE M+ FAÇADE COMMISSION
The looming LED façade of M+ has displayed a number of works since its opening in 2021, with the latest artist being Singaporean artist Ho Tzu Nyen. Night Charades will be on view until June 29 and draws its inspiration from Hong Kong cinema from the 1980s and 90s. By utilising AI video generation, characters are created who reference films directed by the likes of Wong Kar-Wai, John Woo, and Stephen Chow. Ho’s practice often incorporates films, sculptures, and multimedia installations that examine themes of history, identity, and culture. In 2011, Ho also represented Singapore at the 54th Venice Biennale. ARTnews share their interview with Ho, as he explains the inspiration behind the piece and the artistic process. Ho notes that of the surprises he encountered along the way, many came from learning about the development of Hong Kong cinema, in relation to Western cinema. He mentions how much of the mimicking of Western cinema in Hong Kong was deliberate, but that the subversion of the genres resulted in the creation of something new. Themes of reconstruction and repetition were key components to the creation of this work, with Ho working with found footage and existing narratives. But much like the directors of Hong Kong in the 1980s, there is an element of subversion that presents the cinema through a fresh lens.
Ho Tzu Nyen, Night Charades, 2025
FRED EVERSLEY (1941-2025)
Fred Eversley, celebrated sculptor, passed away at the age of 83 on March 14 following a short illness. Perhaps best known for his work using the parabola, Eversley brought science and metaphysics to his artistic practice. In 2022, Eversley told Artforum, “My commitment and focus over all these years stems from my belief that energy is the source of everything in the world. Nothing exists without energy. It’s the most essential concept for the basis of all life. So, I just tried to push that idea as far as I can.” Born in Brooklyn in 1941, Eversley became quickly captivated by the work of Isaac Newton, with his fascination for parabolas birthed from an incident with jello. As a child he filled a pie pan with jello and spun it on the kitchen table, creating a light-reflecting concave parabola to appear in the jelly. He described the parabola as “the perfect concentrator of all energy to a single focal point.” Eversley went on to attend the Carnegie Institute of Technology (now Carnegie Mellon University), where he completed a degree in electrical engineering. He then worked at Wyle Laboratories, where he assisted in the development of high-intensity acoustic labs for NASA’s Apollo and Gemini missions. This job took him to Southern California where he became immersed in the art scene. Following a nearly fatal car accident in 1967, Eversley spent time in Charles Mattox’s studio as he was forced to take time off work due to the injuries. During this time, he experimented with creating resin sculptures and ended up leaving Wyle to pursue art full time. From there his celebrated art career continued to grow, with Eversley named the inaugural artist in residence at the Smithsonian’s National Air and Space Museum in 1977. Despite his successful career, Eversley faced immense racism and only gained gallery representation at David Kordansky in 2018. But Eversley outlook remained positive, with the artist sharing, “I’ve had the great luxury of making art one hundred percent of my time for over fifty years, of showing with wonderful galleries and museums. I really do have the feeling that the possibilities are endless.”
Fred Eversley with Untitled (Parabolic Lens) (1971) at the Hayward Gallery, London
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.