The 20 Most Expensive Artworks Hitting the Auction Block This Season

The May 2026 New York auctions at Christie’s, Sotheby’s, and Phillips will feature 20 high-value lots priced at $30 million or more, including works by Andy Warhol, Jasper Johns, Pablo Picasso, Piet Mondrian, Jackson Pollock, Willem de Kooning, Cy Twombly, Gerhard Richter, and others. The sales are staggered around the Venice Biennale and Frieze New York, with Sotheby’s holding its contemporary evening auction on May 14 and Christie’s its 20th-century sale on May 18. Notable consignments come from the estates of S.I. Newhouse, former MoMA board president Agnes Gund, and dealer Marian Goodman.

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The Armory Show's VIP preview day on Thursday saw long queues and a cautiously upbeat mood at the Javits Center, despite a shaky art market marked by gallery closures and fair cancellations. Dealers reported serious interest and solid sales, including a $1 million work at Galleria Lorcan O’Neill, a Kehinde Wiley painting for $265,000 at Sean Kelly, and a Kennedy Yanko sculpture for $150,000 at James Cohan. The highest-priced work, Alex Katz's 1962 painting *October 2*, was listed at $1.2 million but remained unsold. The fair attracted major collectors like Don and Mera Rubell and institutional figures such as Thelma Golden and Scott Rothkopf, with the Presents section for emerging galleries also seeing brisk sales.

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Days before a Louise Nevelson sculpture was to be auctioned at Sotheby’s in May 2022, Pace Gallery founder Arne Glimcher declared the work inauthentic, claiming it was assembled by the artist’s son, Mike, rather than by Nevelson herself. The consigner, the estate of collector Hardie Beloff, has now sued Pace Gallery in US District Court for Eastern Pennsylvania, alleging that Glimcher deliberately sabotaged the sale to protect Pace’s control over Nevelson’s market. The lawsuit centers on Glimcher’s call to Sotheby’s, where he warned the work would not be included in a forthcoming catalogue raisonné, and on a 1993 appraisal in which he had valued the same sculpture at $85,000 without questioning its authenticity.

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The print market is experiencing a significant resurgence, defying the broader contraction seen in the global art market. Recent events like the IFPDA Print Fair in New York reported record-breaking attendance of 21,000 visitors, while auction data shows that over 54,000 print lots were sold in 2024—the highest volume in a decade. While total sales value dipped slightly, the decline was far less severe than the 27 percent drop seen in the general fine art sector.

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The art market is gearing up for a high-stakes spring season with major estate collections from S.I. Newhouse and Robert Mnuchin slated for auction at Christie’s and Sotheby’s, collectively valued at over half a billion dollars. Meanwhile, London’s spring marquee sales showed strong momentum, with Christie’s and Sotheby’s reporting significant year-over-year increases in their evening sale totals, despite a more modest performance from Phillips.

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Kenny Schachter's article for Artnet News draws a parallel between President Jimmy Carter's 1977 energy-crisis plea to lower thermostats and the current art-market response to Trump-era tariff turmoil. He reports that the spring 2025 auction cycle generated $1.25 billion, continuing a decade-long decline from the 2014 peak, with bidders spending less and big-ticket sellers stuck. Schachter also promotes his own no-reserve auction, "Hoarder #6," scheduled for July 8–17 at Phillips, and critiques Trump's economic policies and crypto ventures, name-dropping Justin Sun as a major holder of $Trump tokens.

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Frieze Los Angeles launched with significant early momentum as Endeavor CEO Ari Emanuel acquired three quilts by artist Yvonne Wells from Fort Gansevoort before VIP hours officially began. The fair's opening day saw robust activity, including the $3.7 million sale of an Ed Ruscha painting, while major galleries like Pace Prints and Opera Gallery announced strategic expansions into Los Angeles and Houston respectively.

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The Peter Hujar Archive and Foundation has left Pace Gallery and will now be jointly represented by New York-based gallery Ortuzar and Fraenkel Gallery in San Francisco. The archive will continue working with Mai 36 Galerie in Zürich and Maureen Paley in London on select projects. Ortuzar founder Ales Ortuzar expressed deep personal excitement about representing Hujar, who will be the first photographer the gallery has represented since its founding in 2018. The gallery plans two concurrent exhibitions this spring: a recreation of Hujar's 1986 show at Gracie Mansion and a group show featuring artists from his circle.

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Sotheby's will offer Jean-Michel Basquiat's 1981 painting *Crowns (Peso Neto)* in its fall contemporary evening sale in New York with a high estimate of $45 million, the highest estimate ever for a Basquiat work from that pivotal year. The painting, never before auctioned, is described by the house as marking the artist's transition from street artist to international art star. Separately, Art Basel has released the exhibitor list for its inaugural fair in Qatar, featuring 87 galleries including heavyweights like Hauser & Wirth, Gagosian, and Pace, with all booths dedicated to solo presentations curated by artistic director Wael Shawky.

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The article reports on a generational shift in the art world, with younger gallerists (millennials and Gen Z) redefining success away from the traditional empire-building model. It highlights the recent closures of Venus Over Manhattan and Tim Blum's gallery, but notes that emerging dealers like Bridget Donahue and Matthew Brown are prioritizing collaboration, transparency, and a sustainable pace—attending fewer art fairs and building tight-knit communities rather than large client bases. Separately, the article covers Hauser & Wirth's announcement of a new gallery in Palo Alto, California, set to open in spring 2026, marking the mega-gallery's first Bay Area location and its third in California.

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Two major New York art fairs—NADA New York and Independent—opened this week alongside Frieze and TEFAF, marking a crowded spring fair season. Despite a recent market downturn, both fairs reported strong attendance and early sales. NADA's executive director Heather Hubbs noted high-quality visitors and positive feedback on the new venue, while Independent founder Elizabeth Dee cited a 20% increase in opening-day attendance and robust buying from collectors and institutions. Sales ranged from lower-priced works under $50,000 to six-figure transactions, with galleries like Vielmetter Los Angeles, Andréhn-Schiptjenko, and Fleisher/Ollman Gallery reporting significant sales.

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Artnet Pro's 'The Asia Pivot' newsletter previews the 2026 Asian art market, highlighting a hopeful recovery after signs of improvement in late 2025. Key events include Art SG in Singapore (hosting S.E.A. Focus for the first time), the inaugural Art Basel Qatar in February, and Art Basel Hong Kong in March. Auction houses will align spring sales with these fairs. The article also notes regional shifts: South Korea's Art Asia partners with KINTEX for a new fair in India, Hong Kong's Kwai Fung Hin opens in Singapore, and Shanghai's Antenna Space expands to Hong Kong. Japan's Prime Minister Sanae Takaichi meets with artist Takashi Murakami to promote culture abroad, while geopolitical tensions with China threaten cultural exchanges.

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Morgan Stanley and Artnet have released an Intelligence Report analyzing the explosive growth of the ultra-contemporary art market—defined as work by artists born after 1974. Auction sales in this category surged 305% from 2019 to 2021, reaching $742.2 million last year, driven by strong demand in the U.S. and China. The report breaks down sales by region, price band, and leading artists, highlighting how galleries, fairs, museums, and collectors are capitalizing on this trend.

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Christie's is offering nine artworks from the collection of Anne and Sid Bass as part of its Spring Marquee Week in May. The works, which include pieces by Mark Rothko, Agnes Martin, Frank Stella, Ellsworth Kelly, Morris Louis, and Gino Severini, were displayed in the Bass House in Fort Worth, Texas—a Modernist residence designed by architect Paul Rudolph in the early 1970s. The house was built to serve both as a home and a gallery for the couple's renowned art collection.

Philadelphia Is Rich With Museums and Galleries. ‘Elsewhere’ Aims to Find Out If It Can Support an Art Fair

Philadelphia gallerist Megan Galardi is launching a new art fair called Elsewhere, set to debut June 4–6 at the Yowie Hotel on South Street. The fair will feature 27 exhibitors from cities including London, New York, and Philadelphia, with seven local dealers such as Fleisher/Ollman, Blah Blah Gallery, and Fjord. Galardi, who founded Blah Blah Gallery in 2023 and has participated in small New York fairs like Spring/Break and Future Fair, designed Elsewhere as a boutique, hotel-based event that offers a lower-cost, more intimate alternative to large-scale art fairs.

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The second edition of Taipei Art Week has drawn a large crowd, anchored by Art Taipei—Asia's longest-running art fair—and the 14th Taipei Biennale. Galleries have raised their ambitions, with pop-up shows, talks, and collectors' parties filling the city. However, Taiwan's art market faces significant headwinds: art imports fell 15.2% in 2024, Ravenel's spring auction sales plummeted from $14.6 million in 2020 to $3.6 million in 2025, and Taipei Dangdai announced it would cease operations after its sixth edition. Geopolitical tensions with China have reduced Chinese collector participation and visitor numbers at the National Palace Museum.

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Christie’s will sell nine works from the Bass House, a Fort Worth, Texas home designed by architect Paul Rudolph for collectors Sid and Anne Bass, in its 20th century evening sale this May in New York. The group, with estimates totaling over $60 million, includes pieces by Mark Rothko, Alexander Calder, Ellsworth Kelly, Frank Stella, Agnes Martin, Gino Severini, and Morris Louis, with the top lot being Rothko’s *No. 4 (Two Dominants) [Orange, Plum, Black]* (1950–51) estimated at around $35 million. The works were carefully placed throughout the house, which was custom-built to prioritize art display, and most remained in their original positions after installation.

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Artnet News reports on the top five most expensive Helen Frankenthaler paintings sold at auction, all from the 1970s and all sold within the past five years. The list includes "Basin" (1979, $4.53M at Christie's New York in May 2025), "Carousel" (1979, $4.74M at Sotheby's New York in 2020), "Circe" (1974, $4.77M at Sotheby's New York in 2022), and "Dream Decision" (1976, $5.89M at Sotheby's New York in 2021), with the top lot yet to be fully detailed. The article highlights Frankenthaler's soak-stain technique, her influence on Color Field painting, and the role of Gagosian Gallery in elevating her market after her death in 2011.

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This week's art industry roundup covers major personnel changes at Phillips, with Cheyenne Westphal stepping down as global chairwoman and Jean-Paul Engelen departing for Acquavella Galleries, alongside promotions of Robert Manley and Miety Heiden. Auction results show mixed performance: Christie's Riggio collection brought $488.8 million, but Sotheby's and Phillips saw declines, while Marlene Dumas set a record for a living woman artist at Christie's. Other highlights include the launch of Derrick Adams' Scout Art Fair in Baltimore, Art Basel's inaugural awards, and the opening of Destinee Ross-Sutton's gallery in Stockholm.

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Sotheby’s will offer Alberto Giacometti’s 1955 bronze bust *Grande tête mince (Grande tête de Diego)*, hand-painted by the artist as a tribute to his brother Diego, at its May 13 modern art evening sale in New York with an estimate exceeding $70 million. The 25-inch-tall work, one of six casts, is being sold anonymously through the Soloviev Foundation and comes from the estate of real estate magnate Sheldon Solow. It was exhibited at the 1956 Venice Biennale and spent nearly two decades at the Fondation Maeght before Solow acquired it in 1980. The sale also includes a Piet Mondrian painting estimated at $50 million at Christie’s as part of the Leonard Riggio collection.

Canadian Masterworks Lead Heffel’s Spring Sales

Heffel Fine Art Auction House will hold its Spring Auction on May 21, 2026, featuring two sessions: Post-War & Contemporary Art and Old Master, Impressionist, & Modern Art. The sale, held in Toronto and online, includes works by Canadian masters such as Alex Colville, Jean-Paul Riopelle, Guido Molinari, and E.J. Hughes, with top estimates reaching up to $1.75 million CAD for Hughes' 'Coastal Boats Near Sidney, BC'.

A major Jean-Michel Basquiat painting is expected to sell for more than $5 million in May.

A major Jean-Michel Basquiat painting is expected to sell for more than $5 million in May.

A major painting by Jean-Michel Basquiat, titled *Portrait of the Artist as a Young Derelict*, will be auctioned at Christie’s in New York this May. The 1982 work is a prime example of the artist's raw, graffiti-infused style and is expected to fetch over $5 million. This sale is part of Christie’s marquee spring auctions, highlighting continued strong market demand for blue-chip contemporary art.

A $35 M. Warhol, a $45 M. Basquiat, and More: Who’s Selling The Top Works in the May Sales?

The article reports on the upcoming May marquee sales at Christie’s and Sotheby’s, detailing high-value consignments from major collections. Christie’s will offer works from the estates of S. I. Newhouse (including a Brâncuși sculpture and a Jackson Pollock painting, each estimated at $100 million), former MoMA board president Agnes Gund (a Rothko estimated at $80 million), and the late dealer Marian Goodman (a Gerhard Richter estimated at $50 million). Sotheby’s counters with a Rothko from the collection of the late Robert Mnuchin (estimated at $100 million) and works from David and Shoshanna Wingate, including a Giacometti sculpture. The article also reveals previously unnamed consignors for top lots, such as collector John Sayegh-Belchatowski for a $45 million Basquiat and the Moore family for an Elizabeth Peyton painting.

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Christie’s London has announced that David Hockney’s monumental print 'Autour de la maison, été' (2019) will headline its spring prints season. Measuring nearly 40 feet long and printed on a single sheet of paper, the work depicts the artist’s Normandy estate with a high estimate of £300,000 ($400,000). The piece is noted for its cinematic scale and narrative structure, drawing direct inspiration from the medieval Bayeux Tapestry.

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Christie's London will offer Wassily Kandinsky's painting *Le Rond Rouge* (1939) with a high estimate of £15.5 million ($21.3 million) in its 20th/21st Century evening sale on March 5. The work, a key piece from the artist's Paris period, has been in prominent collections and was last sold at Sotheby's New York in 2018 for $20.6 million. The sale will also feature a fresh-to-auction Henry Moore bronze sculpture, *King and Queen* (1952-53), estimated at up to £15 million.

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Sotheby's will auction ten works donated by Royal Academicians during its London spring sales to raise funds for the financially struggling Royal Academy of Arts. The sale, with a cumulative high estimate of £2.6 million, includes major works by El Anatsui, Sean Scully, William Kentridge, Tony Cragg, Georg Baselitz, Anish Kapoor, Mimmo Paladino, and Jeff Koons.

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A major bronze sculpture by Henry Moore, 'King and Queen' (1952-53), will be the top lot at Christie's 20th/21st Century evening sale in London on March 5. The work, estimated at £15 million ($20.5 million), is the first cast from an edition and the only one remaining in private hands, having been acquired directly from the artist by its current anonymous owner.

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Frieze New York opened on a warm Wednesday morning, with a packed spring art week schedule that saw the fair and TEFAF's US edition separated by just 24 hours. The VIP day was animated with strong sales, including Jeff Koons's *Hulk (Tubas)* reportedly selling for $3 million at Gagosian, which presented the artist's first collaboration since he left the gallery in 2021. Other notable sales included works by Liza Lou, Joan Snyder, David Salle, and Adam Pendleton, with Pace Gallery selling all six of Pendleton's paintings within hours. Galleries reported a slower but deliberate pace of buying, with collectors taking more time to make decisions.

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A group of 17 iPad drawings by David Hockney, titled 'The Arrival of Spring,' sold for a combined £6.2 million ($8.3 million) at Sotheby’s London on Friday, more than doubling their high estimate. Fifteen of the 17 works achieved record prices for the subject, with the top lot, 'The Arrival of Spring in Woldgate, East Yorkshire in 2011 – 19 February (2011),' selling for £762,000 ($1 million), breaking the artist's print record three times. The sale was a white-glove result, with 40 percent of the drawings going to American collectors and 65 percent bought online.

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New York's spring auction season concluded with a dramatic five-day marathon across Sotheby's, Christie's, and Phillips, generating a combined $2.2 billion. Sotheby's led with $1.17 billion in total sales, fueled by Gustav Klimt's *Portrait of Elisabeth Lederer* (1914–16) from the estate of Leonard A. Lauder, which sold for $234.6 million—a single work accounting for 20% of Sotheby's total. Christie's followed with $962.6 million, and Phillips added $92.1 million. Notable highlights included Frida Kahlo's *El sueño (La cama)* (1940) achieving $54.7 million, a new record for the artist and the highest price for a female artist at auction in raw dollars, and a triceratops fossil named Cera selling for $5.4 million at Phillips.