Just the 5 art world updates you should know this week.

In short: Art Basel Develops Urban Art Initiative, Demand for Chinese Art Remains Strong & Syrian Artifacts Survive ISIS Occupation

1. Palmyra’s Antiquities Survive ISIS Occupation Better Than Expected

After holding the city of Palmyra for 1o moths, ISIS has been forced from the city by Syrian governmental forces, allowing the first images of the ancient city post-terrorist occupation to come to light.

It was already known that ISIS wreaked destruction on the city — a UNESCO world heritage site known as the “Pearl of the Desert,” with artifacts dating back to the Roman Empire. However, new images prove that much more of the city remains intact than experts feared. Maamoun Abdelkarim, Syria’s antiquities chief, remarked that “the landscape, in general, is in good shape,” and vowed that Syria would restore and rebuild the destroyed monuments, including the Temple of Bel and the Arch of Triumph: “We will rebuild the two temples under supervision from UNESCO and other international organizations. The message of the Syrian people is that we cannot leave the two temples in ruins. …

The best shows to see this week in NYC. We pick only 3.

1. Philippe Parreno @ Gladstone Gallery
March 5 — April 16

For his current exhibition, IF THIS THEN ELSE, Philippe Parreno has taken over both Gladstone Gallery’s 21st street and 64th street locations. The show — the artist’s first with the gallery —is a characteristically Parreno exhibit in that it fully immerses its audience in a multi-sensorial experience of consecutive events: film screenings, changes in lighting and shifts in room temperature. One event triggers the next to surround the audience in a unique and utterly sensorial experience.

On view at 515 West 24th Street & 530 West 21st Street, New York, NY. …

Just the 5 art world updates you should know this week.

1. Venice Tops List of Most Endangered Heritage Sites in Europe

European heritage organization Europe Nostra has compiled its list of the 7 most endangered cultural sites in Europe. And Venice, Italy tops the list with the Venice Lagoon as the most endangered site in Europe.

The organization based its declaration on the “paramount importance of [the Lagoon] to Europe and the world, as well as the complexity and magnitude of the challenges posed….There could be no Venice and no Venetian civilization without the lagoon. Few historic sites in the world demonstrate so clearly the interdependence of humankind with our environment, of nature with culture.” Joining the Lagoon on Europe Nostra’s list were: Armenia’s Ererouyk site, Estonia’s Patarei Sea Fortress, the Helsinki-Malmi Airport in Finland, France’s Colbert Swing Bridge, Greece’s Kamps of Chios, Turkey’s city of Hasankeyf and the Convent of St. Anthony of Padua in Spain. …

The best shows to see this week in London. We pick only 3.

1. Nate Lowman @ Massimo de Carlo
February 8 — April 2

In his third exhibition with Massimo de Carlo, Nate Lowman looks up for inspiration…specifically, at the ceiling of his NYC studio. His new paintings portray the patterns and architecture of the structure, located in Manhattan’s Tribeca neighborhood, whose buildings have been preserved to maintain their industrial 19th century facades. Thus the show speaks not only to Lowman’s specific studio but also to (as the show’s title — “Downtown Is A Construct” — suggests) the larger evolution of New York City, from agriculture to industry to artistry.

On view at 55 South Audley Street, London, W1K…

The best shows to see this week in NY. We pick only 3.

Just the 5 art world updates you should know this week.

1. Museums Getting Increasing Funds From Private Galleries

Although it’s common practice for galleries to provide scholarly and artistic support to museum’s exhibiting work by the artists they represent, in the face of decreasing corporate donations, nonprofit museums have begun to depend more on these galleries for funding as well.

With gallery donations ranging from a reported $5,000 to $200,000, critics of the practice fear it will lead to biased museum exhibiting and prevent artists with less affluent galleries from being exhibited. Lawrence Luhring of Luhring Augustine gallery told The New York Times that, “It’s really gotten out of hand. It’s the brazenness of it — just the expectation of ‘How are you going to contribute?’” However, some supporters of the process feel that it is just, as galleries benefit from the increased respect and prices an artist enjoys after a museum show. Jeffrey Deitch, art dealer and former director of the Museum of Contemporary Art, Los Angeles argued, “Museums are giving these galleries the best platform in the art world for free, where they can sell work to their clients on the walls of the greatest museums. …

The shows you can’t miss this week in NY. We pick only 3.

Just the 5 art world updates you should know this week.

1. Art Market Rebounds After Drop in Sales for 2015

After prices fell 10% in 2015, the worldwide art market has rebounded in the new year. While last year’s art sales fell $2 billion short of 2014’s $17.9 billion total, prices have recovered by 7.2% in the first seven weeks of 2016.

One reason for the dip in prices last year is that throughout 2015 Chinese collectors had led the demand that drove high and even historic sales — with Picasso’s Les Femmes d’Alger selling to a Chinese collector for a record-setting $179 million last May. However, as the Chinese financial sector cooled substantially toward the end of the year, so did collectors’ art acquisitions. In fact, Artprice calculated that when the large fluxes in Chinese demand were discounted, art prices remained stable in 2015. …