New York's spring auction week, starting May 18, 2026, saw record-breaking sales led by Christie's, which realized over $1.1 billion across two opening night sales. Major estate consignments from Condé Nast owner S.I. Newhouse, MoMA trustee Agnes Gund, dealer Marian Goodman, and financier Robert Mnuchin fueled the market, resulting in 17 new artist auction records.
A Jackson Pollock drip painting, *Number 7A* (1948), formerly owned by media magnate S. I. Newhouse, sold at Christie’s on Monday night for a hammer price of $157 million, totaling $181.2 million with fees. The work, measuring nearly 11 feet wide, received over 60 bids in a 10-minute bidding war and set a new auction record for the Abstract Expressionist artist, surpassing the previous high of $61 million set in 2021. The winning bid was placed by a buyer represented by Christie’s global president Alex Rotter, with Swiss mega-dealer Iwan Wirth acting as an underbidder, possibly for collector Laurene Powell Jobs.