Good Morning!
New York dealer Harper Levine is setting up shop in Bangkok.
The legal battle between Ronald Perelman and his insurance firms finally goes to trial.
Donald Trump has been accused of sending Jefferey Epstein a bawdy sketch of a naked woman.
The Headlines
WHERE IS THE ‘OOMPH’? The long-running legal battle between billionaire art collector Ronald Perelman and his insurance companies has finally gone to trial, the Art Newspaper reported Friday. The case centers on five paintings—by Cy Twombly, Ed Ruscha, and Andy Warhol —worth a combined $410 million. Perelman claims the works lost their “oomph” after a 2018 fire at his East Hampton estate, when they were exposed to smoke and sprinkler systems. The insurers dispute both the extent of the damage and Perelman’s assertion that he never tried to sell the works afterward.The case raises tricky questions about how the art market assesses non-visible damage and subjective value. Perelman’s team cited conservation scientist Jennifer Mass, who argued that chemical changes from the fire may not yet be visible but could shorten the artworks’ lifespan. Similar debates have surfaced before: In the 1990s, the City of Amsterdam sued restorer Daniel Goldreyer over his controversial treatment of Barnett Newman’s Who’s Afraid of Red, Yellow and Blue III, claiming it altered the painting’s original translucency. More recently, discussion around Leonardo da Vinci’s Salvator Mundi focused not on physical damage but on how heavy restoration shaped public perception—likely influencing its record $450 million sale. Perelman’s case also highlights the market sensitivities surrounding art ownership. Court filings revealed he had used the works as collateral for loans and sold off dozens following a margin call. As Appraisers Association head Linda Selvin noted, lengthy legal proceedings can complicate valuation—especially as market conditions shift. With more than 1,500 court documents filed, the case underscores the art world’s uneasy balance between objective standards and subjective worth.
Related Articles
THE NAKED TRUTH? Apparently, President Donald Trump likes to draw. According to the Wall Street Journal , he made a “crude sketch” of a naked woman for Jeffrey Epstein , the convicted sex offender. The drawing appeared in a leather-bound album compiled for Epstein’s 50th birthday—filled with bawdy poems, photos, and messages from friends and business associates. Trump’s note reportedly read, “Happy Birthday — and may every day be another wonderful secret,” with “Donald” scrawled near the woman’s nether regions. Trump denied making the drawing, telling the, “I never wrote a picture in my life.” Less than 24 hours after the article’s publication, he sued the paper and Rupert Murdoch for libel and slander. Then, the same day, the New York Times released a lengthy reportdetailing Trump’s long history of doodling and often selling the auctions at various charity auctions. A sketch of the Manhattan skyline he made in 2005 sold for nearly $30,000 at auction in 2017.
The Digest
Jennifer Saunders has been named director of the New York State Museum in Albany—the first woman to lead the nearly 200-year-old institution, which holds more than 20 million objects across science, history, and anthropology. [The Art Newspaper]
The Fine Arts Museums of San Francisco, which oversees the de Young Museum and the Legion of Honor, has laid off 12 staff members—about 5 percent of its workforce—citing falling attendance and lack of funding. [San Francisco Chronicle]
Dino bones and space rocks drew big bids in July: Sotheby’s New York sold a Ceratosaurus skeleton for $30.5 million and a large Martian meteorite known as “NWA 16788” for $5.3 million. [ARTnews]
David Kordansky Gallery and the Sam Gilliam Foundation are being sued over their alleged attempt to “disavow” what one party says is an authentic drape painting by the artist. [ARTnews]
Roughly 750 accordions from the estate of the late Ken Hopkins—known as “Accordion Ken”—are up for auction in Belfast, with estimates ranging from £10 to £5,000. [BBC]
The Kicker
GOING GLOBAL. A few big galleries have shuttered recently amid sluggish sales that many have linked to political turmoil, global conflicts, and a broader economic slowdown. But Harper Levine, the New York–based dealer behind Harper’s, is taking a different tack—he’s opening a new space in Bangkok. The new gallery—Harper’s fifth—will span 2,500 square feet in Siam Patumwan House, the new headquarters of Siam Motors Group in central Bangkok, just steps from the Bangkok Art and Culture Center and the Jim Thompson House. “Going back to Southeast Asia has been percolating in my mind for over 30 years,” Levine told Artnet News. A writer in a past life, he traveled through the region in the 1990s and began returning regularly after a 2023 visit. “The best part of my recent trips to Bangkok has been making close friendships with a core group of Thai collectors,” he said. “Their unrivaled hospitality is a thing of beauty, as is the way they interact with each other.” The new Bangkok outpost will include an exhibition space, an advisory focused on Southeast Asian clients, and a “hospitality program that will aim to help art types travel the country,” Artnet reports. An artist residency is also slated to begin in the second half of 2026. “The culinary scene is on fire, wellness is prioritized and accessible, and Bangkok is remarkably safe,” Levine added. “It’s also extremely affordable by Western standards.”