[analyse_image type=”featured” src=”https:\/\/www.artnews.com\/wp-content\/uploads\/2026\/06\/ABB26__Galleries__Public_Interactions__Hauser_and_Wirth__Pablo_Pi_HiRes.jpg?w=1024″]<\/p>\n
Editor\u2019s Note:<\/strong>\u00a0This story originally appeared in\u00a0On Balance,\u00a0<\/em>the ARTnews\u00a0newsletter about the art market and beyond.\u00a0Sign up here<\/em>\u00a0to receive it every Wednesday.<\/em><\/p>\n \n\tHappy Wednesday! Here\u2019s a roundup of who\u2019s moving and shaking in the art trade this week.<\/p>\n \n\tThat\u2019s the price tag of Pablo Picasso\u2019s 1963 painting Le peintre et son mod\u00e8le dans un paysage<\/em> that Hauser & Wirth sold at Art Basel. Perhaps you\u2019re having whiplash reading this since that happened about three weeks ago and is old news. Well, ARTnews<\/em> can reveal that the consignor of that work is none other than Leonard Feinstein, a cofounder of Bed Bath & Beyond who once ranked among the world\u2019s top collectors. In May, Feinstein filed a UCC Financing Statement in New York listing the work as his property in an agreement with the gallery.<\/p>\n \n\tLast month, on the eve of Art Basel\u2019s Swiss fair, its former global director, Marc Spiegler, had a lot to say about the current state of the industry. In an op-ed for the New York Times<\/em>, he wrote that the vibe he had observed from galleries was one where \u201cuncertainty abounded\u201d and where dealers were \u201cquestioning the fundamentals of their business.\u201d As Spiegler wrote, \u201cIt\u2019s as if the art world they know has fallen off its axis.\u201d While Spiegler might have proposed a return to regionalism\u2014the solution du jour during the pandemic\u2014his essay didn\u2019t quite come off like a well-intentioned answer to the state of affairs. Instead, it read to many like he was chastising galleries for participating in the art market he helped create, and his proposal in many ways seems tangential to the problems that galleries are actually facing.<\/p>\n \n\tThe op-ed has had its share of detractors, too: A few days after publication, arts writer Barbara Pollack penned a response in Hyperallergic<\/em> titled \u201cMarc Spiegler Got It All Wrong.\u201d Reading his piece, Pollack writes, \u201ccan only provoke anger and frustration for artists and others trying to live and work in today\u2019s uncertain, Brave New Art World.\u201d She goes on to point out that Spiegler, via his Art Basel role, helped \u201cpush the narrative that art galleries could and should behave like multinational corporations.\u201d She adds that at one time \u201cartists \u2014not galleries or art fairs\u2014were considered fundamental to art\u2019s survival.\u201d This week, the Times<\/em> published several Letters to the Editor responding to Spiegler\u2019s essay, which ran the gamut of agreeing and disagreeing with it. Lari Pittman, the sole artist included in the mix, put it succinctly: \u201cSorry, Marc Spiegler, but galleries are not the engine of the art world. Artists and their art are. Culture only trickles up, and money never trickles down.\u201d<\/p>\n<\/div>\n<\/div>\n [analyse_source url=”https:\/\/www.artnews.com\/art-news\/market\/leonard-feinstein-consigned-35-m-picasso-to-hauser-wirth-1234791602\/”]<\/p>\n","protected":false},"excerpt":{"rendered":" [analyse_image type=”featured” src=”https:\/\/www.artnews.com\/wp-content\/uploads\/2026\/06\/ABB26__Galleries__Public_Interactions__Hauser_and_Wirth__Pablo_Pi_HiRes.jpg?w=1024″] Editor\u2019s Note:\u00a0This story originally appeared in\u00a0On Balance,\u00a0the ARTnews\u00a0newsletter about the art market and beyond.\u00a0Sign up here\u00a0to receive it every Wednesday. Happy Wednesday! Here\u2019s a roundup of who\u2019s moving and shaking in the art trade this week. Philadelphia Museum of Art Promotes Jennifer Thompson: With a 25-year tenure at the museum, Thompson was […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[61,226],"class_list":["post-2033712","post","type-post","status-publish","format-standard","hentry","category-politics","tag-artnews-com","tag-crawlmanager"],"_links":{"self":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2033712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2033712"}],"version-history":[{"count":0,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=\/wp\/v2\/posts\/2033712\/revisions"}],"wp:attachment":[{"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2033712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2033712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/analyse.optim.biz\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2033712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}\n
Big Number<\/strong>: $35 M.<\/strong><\/h2>\n
Read This.<\/strong><\/h2>\n