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Welcome back to Wall Power, where we’re still chuckling over Art Basel’s decision to reverse itself and rename its October fair Art Basel Paris. (Maybe they thought Paris+ sounded like a streaming service.) Of course, while the Basel brand has plenty of prestige, the worst-kept secret in the art world is that most collectors would prefer to go to Paris in October over a trip to sleepy Basel in June. Except that’s the last thing Art Basel wants them to do.
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Welcome back to Wall Power, where we’re still chuckling over Art Basel’s decision to reverse itself and rename its October fair Art Basel Paris. (Maybe they thought Paris+ sounded like a streaming service.) Of course, while the Basel brand has plenty of prestige, the worst-kept secret in the art world is that most collectors would prefer to go to Paris in October over a trip to sleepy Basel in June. Except that’s the last thing Art Basel wants them to do.

Tonight, my thoughts on how Jean-Michel Basquiat’s art became a dominant force in the art market. Plus, a quick look at what happened in Hong Kong last week. The market is still bottoming—but there are encouraging signs that we’re almost done.

But first…

Lot Watch: Jawlensky & Sanyu Edition
This Friday, the Munich-based Ketterer Kunst auction house is putting up for sale a major Alexej von Jawlensky painting from 1909, which has been held in the same family for 90 years. The work is similar to...
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Art (left to right): Anna Kunz, Mock Orange, acrylic on canvas, 2024; Gwen Yen Chiu, Ink Stroke No. 3, darkened and welded stainless steel, 2024; Michael Hedges, High Tide, oil on canvas, 2024. Courtesy of McCormick Gallery

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Is Basquiat the New Picasso?
Is Basquiat the New Picasso?
In both New York and Hong Kong last month, Jean-Michel displaced the Spanish master as the new benchmark for the art world. For years, the artist’s market—driven via headline-inducing purchases by the likes of Ken Griffin and Jho Low—seemed to have exceeded real collector demand. Now that’s all changing.
MARION MANEKER MARION MANEKER
In May, nearly $125 million of Jean-Michel Basquiat’s art sold at auction, putting the late artist on pace to sell more than $200 million at auction this year. Over the past four years, works by Basquiat have racked up over a billiondollars in auction sales, representing a rise of about 21 percent over the previous four years. In the process, he appears to have posthumously turned an invisible corner. “He’s the new Picasso,” Phillips’ Contemporary art guru Jean-Paul Engelen told me. In other words, Basquiat has become...
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Latest Articles from Art

Marion Maneker • June 4, 2024
Art Market Shocks & Leon Black’s Math
Welcome back to Wall Power, where we’re still chuckling over Art Basel’s decision to reverse itself and rename its October fair Art Basel Paris. (Maybe they thought Paris+ sounded like a streaming service.) Of course, while the Basel brand has plenty of prestige, the worst-kept secret in the art world is that most collectors would […]
Marion Maneker • June 4, 2024
Marion Maneker: Why I Joined Puck
(Sample from Sports) In many ways, my arrival at Puck represents the full circle of my career covering the Art Market. When I was first getting started in this business, I wrote a newsletter that covered the burgeoning cable TV industry. Decades later, the formula still reigns, despite the convulsions of the industry.
Julia Ioffe • June 4, 2024
Minus inventore ipsa error cupiditate
Eos excepturi voluptas.




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