THIS WEEK'S HOT TOPIC
In last week’s newsletter, we took one final glance at 2025. Now it's time to look forward to what’s on the horizon this year.
The industry’s two most prominent fair organizers will toe-test the waters of the Persian Gulf—a region ripe with wealthy buyers that, for geopolitical reasons, has heretofore remained largely untapped. Art Basel Qatar will launch its inaugural edition next month, February 3-7, in the capital city of Doha, while Frieze will debut Frieze Abu Dhabi (a rebranding of the Abu Dhabi Art Fair, which the company acquired last year) in November.
Frieze won’t be the only institution planting a foot in the UAE. After years of delays and protests, the Guggenheim is finally expected to open its ultra-modern, Frank Gehry-designed museum in Abu Dhabi in 2026—an even 20 years after the project was first announced. Another delay-plagued project, George Lucas’s Lucas Museum of Narrative Art in LA, is also set to open this year, as are the newly expanded buildings of the Los Angeles County Museum of Art and the New Museum in New York.
2026 is likewise a major year for biennials. As the 61st Venice Biennale kicks off on May 9, there might be some extra chatter around the American pavilion and its representative artist, sculptor Alma Allen—a surprising and controversial pick. The Whitney Biennial, open to the public on March 8, is always good for some drama, too.
Of course, some of 2025’s most pressing questions still linger. Will AI continue to infiltrate the hallowed halls of the institutional art world? Will the growing grip of the blue-chips squeeze out more small- and mid-level galleries? Will Trump resume his efforts to defund national art programs and stifle expression?
Follow along with NoReserve every Monday this year to find out.
3…THINGS TO KNOW WHEN YOU FALL OUT OF LOVE WITH AN ARTWORK IN YOUR COLLECTION
1
Reselling a work from your collection can have implications beyond the transaction itself, particularly for your relationship with the artist. For many artists, early sales are personal, and seeing a work resurface too quickly, or without context, can feel destabilizing or even hurtful from their perspective. This doesn’t mean collectors are never allowed to resell, but it does mean the decision deserves care and delicacy. Taking a moment to consider timing, visibility, and motivation can help ensure your actions don’t unintentionally strain a relationship you may want to preserve.
2
Before taking any steps toward resale, revisit your invoice and the terms of purchase. Many galleries include conditions such as a first right of refusal or restrictions on resale within a certain timeframe. From a legal standpoint, these terms can vary in enforceability, but they are often respected in practice and should be taken seriously. Beyond legality, there’s also a personal responsibility at play: honoring agreed-upon terms helps maintain trust with galleries and artists alike. Even when enforcement is unlikely, adhering to your invoice reflects professionalism and good faith.
3
If an auction house feels like the right path, approach the process thoughtfully. Start by reaching out to a specialist who handles your work’s artist or category, and be prepared to share documentation, such as provenance, condition reports, and exhibition history. Auction houses will assess not just the quality of the work, but also its market timing and visibility. They may suggest waiting, consigning privately, or setting expectations around pricing. Treat these conversations as exploratory rather than transactional; a measured approach often leads to better long-term outcomes.
A NUMBER TO KNOW
5,000+
The total number of students admitted to the Western College of Auctioneering in Bozeman, Montana since its founding in 1948. In the 78 years that have followed, the school has churned out seasoned professionals trained to maximize the price of lots in sales categories including “everything from real estate to farm equipment to fine art,” wrote Liza Weisstuch in the Wall Street Journal.
Admittedly, you’re not going to find the likes of Sotheby’s Oliver Barker or Christie’s Adrien Meyer on the WCA’s alumni list. The college’s curriculum gets shotgunned through an 85-hour licensing course with online and in-person components, and its target audience skews heavily toward prospective auctioneers specializing in cars, cattle, and other mainstream American commodities rather than the fine art and luxury collectibles that get the blood of NoReserve readers pumping.
Nevertheless, most of the skills and techniques taught at the WCA are vital to auctioneers selling art and high-end objects to the jet set for millions of dollars. Optimizing breath control, vocal pitch, and speaking rhythm is just the start of the craft. Instructors also hone students’ posture and gestures, help them select their filler words (“dollar now” is a classic) and bidding enticements (“Would you give…?”), and even coach them on projecting an emotional warmth and light-heartedness that reliably spurs bidding.
So no, the WCA and its students don’t have much direct impact on the glamor tiers of the auction market. But understanding what they work on so rigorously—and why—clarifies that, no matter what type of property is on the block, good auctioneering is an art all its own.
—Tim Schneider / The Gray Market
ASK: ACCESS SOPHISTICATED KNOWLEDGE
Annika ASKed: As fairs announce more editions, how should galleries strategically navigate the balance between global opportunity and the risks attached to new markets? How should they balance a need to sell and a desire to stand out?
Josh Baer for NoReserve: I think galleries really have to articulate who they're for. They need to be precise in thinking about who they're trying to attract. Me, I want to see something wild and crazy that I've never seen, something that knocks my socks off. I'm walking past your booth, you have four seconds to catch my eye. If you've got nine paintings on display because, if you don't sell them, you won't be able to make your expenses for the next six months—I get it. But you have directors of major museums walking past you in seconds. Might you take the risk of doing something completely ridiculous?
That's the sort of catch-22 in which galleries are stuck. On the one hand, some think, "I've got rent to pay in January and artists who have to pay tuition for their kid, so what's the most commercial thing I can do?" They're narrowing their audience to people who already know them or are attracted to that kind of shopping.
On the other hand, you might have a curator for MoMA walking past your booth, and there's no way they can pick out one of nine little pieces on the wall to say, 'Wow, I wonder if I should give that artist a show."
Have your own question for the NoReserve team? Reply to this email or reach out to us on Instagram, @no.reserve. Readers whose submissions we choose get a special prize—six free months of The Baer Faxt.
2 MINUTES WITH…
After a particularly challenging couple of years for the art world, we found ourselves thinking about the Golden Age in art. When will there be another, if ever? Hear from dealer and gallerist Jeffrey Deitch and our founder Josh Baer below ⬇️—or watch the full discussion ➡️ here, recorded at Christie’s Los Angeles during LA Art Week 2023.
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