Jeff Koons Talks AI, a $100 M. Modigliani in Paris, and More: Industry Moves for October 21, 2026

Editor’s Note: This story originally appeared in On Balance, the ARTnews newsletter about the art market and beyond. Sign up here to receive it every Wednesday.

Happy Wednesday! Here’s a round-up of who’s moving and shaking in the art trade this week.

Vielmetter Los Angeles Takes On Painter Patrick Eugène: The Brooklyn-born, Atlanta-based artist, whose figurative work draws on his Haitian heritage, will debut with the gallery at Art Basel Miami Beach in December ahead of a solo exhibition in Los Angeles in fall 2027.

Ruiz-Healy Art Announces Representation of the Mel Casas Estate: The San Antonio– and New York–based gallery has taken on exclusive representation of 50 percent of the Chicano painter’s estate (1929–2014), in partnership with three of his children. Solo exhibitions at both locations are planned for 2027.

Qatar Museums Names Azu Nwagbogu Artistic Director of Tasweer 2027: The writer and curator is a founder of the LagosPhoto Biennale and the founder and director of the Lagos-based non-profit art space African Artists’ Foundation. He will lead the fourth edition of the Doha-based photography biennial.

John Michael Kohler Arts Center and Kohler Co. Announce 2027 Arts/Industry Residency Artists: The 2027 artists-in-residence are Emily Endo, Raul De Lara, Amy Yoes, Erin Jane Nelson, Esther Elia, Christina Forrer, Jiha Moon, Tyanna Buie, Ben Gould, Gina Michaels, Chenlu Hou, and Jude Griebel.

The Big Number: $100 M.+

That’s the approximate asking price for Amedeo Modigliani‘s 1917 painting Nu étendu (Lolotte), on offer from Pace Di Donna Schrader at Art Basel Paris—which would make it by far the most expensive work reported at the fair so far. The painting was featured in Modigliani’s only solo exhibition during his lifetime, at Galerie Berthe Weill in 1917, and then purchased from the artist’s dealer in 1920 by the family of its present owner. The presentation marks the work’s return to the market after roughly a century. And it’s just the latest Modigliani to reach the market: last week, Phillips announced it would offer a rare limestone sculpture by the artist at its New York sales in November, carrying a $35 million estimate. Modigliani momentum is clearly in the air.

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Jeff Koons, who can sometimes seem to operate on a wavelength all his own, delivered once more last week on the Middlebrow Podcast, whose latest episode is a wide-ranging interview touching on everything from his early-career job at the Museum of Modern Art to his sprawling studio. Which younger artists are making notable work, in Koons’s opinion? “Jordan Wolfson, here in New York, is making great work,” he says. (A natural response, given that the two are both represented by Gagosian, where Wolfson is showing an AI-generated take on a painting from Koons’s “Made in Heaven” series.) Is AI useful for generating ideas? “I wouldn’t have confidence in AI for that at this time,” Koons says. The best architectural project of the past two and a half decades? “I’ve never been to Vegas. I only want to go for the Sphere—I think it’s the most exciting building of the 21st century.” Sure! —Alex Greenberger, Deputy Editor