$438 Million Worth of Art Heads to Auction in London—and More Art Industry News | Artnet News
Artnet News
by Jo Lawson-TancredMarch 2, 2026
AI-Generated Deep Dive Summary
London’s prestigious spring auctions are set to showcase over $438 million in art across major auction houses, with Sotheby’s, Christie’s, and Phillips leading the way. The sales will feature high-profile works, including Francis Bacon’s self-portrait from 1972, estimated at £10.7 million to £16.1 million, and Wassily Kandinsky’s 1939 masterpiece, expected to fetch up to £21 million. These auctions mark a significant increase in scale compared to last year, with Christie’s sale alone growing by 36% in both lot count and revenue.
Frieze Los Angeles kicked off the art week with strong early sales, including Ari Emanuel’s acquisition of three quilts by Yvonne Wells for $50,000 to $60,000 each. The event also saw Ed Ruscha’s *Heaven* (1988) sell for $3.7 million. Meanwhile, Art Paris has announced its 28th edition with over 160 galleries participating, including international newcomers like Lumen Travo and RocioSantaCruz. This highlights the growing diversity and global reach of the art market.
In other developments, Pace Prints is expanding to Los Angeles this fall, enhancing its technical support for artists like Jonas Wood and Alex Israel. The move underscores the gallery’s commitment to fostering creativity and innovation in printmaking. Additionally, Opera Gallery’s new Houston location will debut Modern and contemporary works by Picasso, Chagall, Kusama, and Wiley, offering a diverse showcase of art history.
The art industry continues to evolve with record-breaking auctions and innovative programming. These trends not only reflect the market’s resilience but also its ability to adapt and grow. For collectors, this means access to an expanding range of opportunities to acquire significant works, while galleries and auction houses demonstrate their commitment to supporting artists and fostering cultural exchange.
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Originally published on Artnet News on 3/2/2026