Overview
- Sotheby’s projects $7.0 billion for 2025, with auctions up 26% to $5.7 billion, private sales at $1.2 billion, and luxury up 22% to $2.7 billion, anchored by the Breuer debut week’s $1.17 billion and Abu Dhabi Collectors’ Week at $133.4 million.
- Christie’s forecasts $6.2 billion, including $4.7 billion in auctions (up 8%) and $1.5 billion in private sales, with luxury at $795 million (up 17%) and roughly $500 million from the Riggio and Ross Weiss single‑owner collections.
- Engagement rose across both houses, with Sotheby’s reporting an 87% sell‑through rate, 4.5 bidders per lot, and a 161% hammer‑to‑low‑estimate aggregate, while Christie’s posted an 88% sell‑through and a 113% hammer‑to‑low‑estimate ratio.
- Private transactions remained robust but steadier than auctions, accounting for about 24% of Christie’s revenue and 17% at Sotheby’s, reflecting consignor caution even as live sales strengthened.
- A new ArtTactic report finds the broader auction market up 11.1% in 2025, led by sharp gains in Impressionist and Modern sales and a 19.4% rise in $10 million‑plus “trophy” lots, while contemporary and post‑war categories declined.