Art market analysis 2025
London
June auctions in London marked a subdued close to the first half of the year, totaling nearly £98 million—62% less than in March. Sotheby’s led in sales and volume, with strong results for works by Lempicka, Picasso, and Saville. While auction numbers dropped, 82% of lots sold and average prices fell just 12%, suggesting a selective but engaged market. Overall, despite external uncertainties, the results were more solid than they may first appear.
New York
Last week, Christie’s, Sotheby’s, and Phillips held their May marquee auctions in New York, offering 1,520 lots across 15 sales. Total sales reached $1.26 billion—down from last May and November—though average and median prices per lot rose. Christie’s led with nine of the top ten lots, including Mondrian’s 'Composition with Large Red Plane...' at $47.6 million. Works by Monet, Rothko, Magritte, and Picasso also performed strongly. A Giacometti bust estimated above $70 million failed to sell at Sotheby's. With an 87% sell-through rate, the results reflect cautious optimism in a still-recovering market.
London
Last week in London, Christie’s, Sotheby’s, and Phillips initiated the auction year for 20th and 21st-century art, including Impressionist, Modern, Post-War, and Contemporary art. With nine sales and nearly 730 lots, the week totaled GBP 255.5 million—up in volume, value, and average price compared to October. Christie’s led in both sales and top lots, with Magritte’s 'La reconnaissance infinie' fetching over GBP 10 million, signaling renewed confidence in the market despite ongoing global uncertainties.