"Sotheby's finished the year on top, making a projected $7bn in global sales-a 17% increase on last year ($6bn). A stellar November season in New York, during which the house broke the record for most expensive work of Modern art sold at auction, $236.3m for Klimt's Portrait of Elisabeth Lederer (1914-16), proved a welcome shot in the arm. Its public auction results stand at $5.7bn, a 26% increase on last year."
"Meanwhile Christie's will turnover $6.2bn overall, a 6% boost year-on-year. Of this, public auctions amounted to $4.7bn, up 8% from last year. Emphasising the momentum that has been gained in the market over the past few months, Christie's report notes that the second half of 2025 marked a 26% in overall sales compared to the same period last year. Sotheby's saw the same increase in second half sales year-on-year."
"Both houses have grown their private sales business in recent years, due, in part, to an uncertain climate that has prompted risk-averse consignors to sell prized work away from public scrutiny. This year's improved auction results have seen private sales at both houses either gently decline or remain stable compared to last year, accounting for 24% of total revenue at Christie's and 17% at Sotheby's."
Following two years of a down market and declining sales, Christie's and Sotheby's show revenue upticks for 2025. Sotheby's projects $7bn in global sales, a 17% increase from $6bn, with public auctions at $5.7bn, up 26%; a November New York sale set a Modern art auction record at $236.3m for Klimt's Portrait of Elisabeth Lederer (1914–16). Christie's expects $6.2bn overall, a 6% increase, with public auctions at $4.7bn, up 8%. Both houses recorded a 26% rise in second-half sales year-on-year. Private sales remain significant, comprising 24% of Christie's revenue and 17% of Sotheby's, and have grown since the pandemic.
Read at The Art Newspaper - International art news and events
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