basquiat ruscha sothebys now contemporary art sale may 2025 1234742440

Sotheby's three-part evening sale in New York on Thursday generated $186.1 million across 68 lots, landing near the high end of its $141 million to $204.9 million estimate. The sale included a focused 12-lot offering from the collection of late gallerist Barbara Gladstone, which sold all works without guarantees and totaled $18.5 million, and a 15-work guaranteed sale from dealer Daniella Luxembourg featuring postwar Italian artists, where Lucio Fontana's 'Concetto spaziale, La fine di Dio' (1963) achieved $14.5 million and Michelangelo Pistoletto's 'Maria Nuda' (1969) sold for $2.7 million after a five-minute bidding war.

design market report 2025 auction results tiffany lalanne 1234745884

Amid a sluggish broader art market, the design category is surging. Major auction houses—Sotheby’s, Christie’s, and Phillips—held design sales in early June 2025 that far exceeded expectations. Sotheby’s New York design sales totaled $37.5 million, Christie’s $23.6 million, and Phillips $4 million, representing a 62.3 percent year-on-year increase across all three houses. Notable highlights include the Goddard Memorial Window by Tiffany Studios, which sold for $4.29 million, the second-highest price for a Tiffany window at auction. The sales attracted many new buyers, with Sotheby’s and Phillips reporting over 20 percent of buyers were new to the houses.

christies edlis neeson sale 124 million 2716072

Christie's 21st-century evening sale in New York on Wednesday night achieved $123.6 million, just below its $126 million high estimate and 16% above last year's sale. The sale featured 19 lots from the collection of the late Stefan Edlis and his widow Gael Neeson, which brought in $49.2 million against a $30 million estimate. The top lot was Christopher Wool's "Untitled (RIOT)" (1990), selling for $19.8 million. New auction records were set for Firelei Báez ($1.1 million) and Olga de Amaral ($3.1 million). Only one of 45 lots failed to sell—a Cecily Brown painting estimated at $4–6 million. The sale was characterized by careful use of third-party guarantees and lowered reserves, with art advisor Aileen Agopian noting bidding was "deep and robust" despite a flat atmosphere.

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Christie’s marquee auction on Monday night in New York generated $488.8 million in total sales, led by Piet Mondrian’s 1922 painting *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue*, which sold for $47.6 million—just shy of the artist’s $51 million auction record. The sale featured the Leonard & Louise Riggio collection, the largest single collection of the season, comprising 39 works estimated at $252–326 million; after one withdrawal and one unsold lot, the group achieved $271.9 million. Many high-profile lots, including works by Alberto Giacometti, René Magritte, Barbara Hepworth, Gerhard Richter, Mark Rothko, and Andy Warhol, sold on single bids to third-party guarantors, reflecting a cautious market.

state of the art market trophy lots and the new competitive auction landscape 2347606

The article examines the growing financialization and opacity of the fine-art auction market, highlighting how auction houses like Christie's and Sotheby's have made it increasingly difficult for outsiders to understand true demand for individual lots. It details how buyer's premiums, guarantees, and irrevocable bids (third-party guarantees) obscure the actual bidding dynamics, with only a small group of wealthy financiers and intermediaries having clear insight into the market's inner workings.

sothebys 70 million alberto giacometti 2634149

Sotheby's has secured a $70 million Alberto Giacometti sculpture, *Grande tête mince (Grande tête de Diego)* (1955), for its evening sale of Modern art on May 13 in New York. The bronze bust of the artist's brother Diego is the highest-priced lot known to be offered in the upcoming high-stakes auctions. Consigned anonymously from the collection of late real estate tycoon Sheldon Solow, the work is being sold by the Soloviev Foundation to raise funds for philanthropic activities, including support for the Metropolitan Museum of Art. The sculpture, one of six casts, is described as the only 'richly painted' version and was included in Giacometti's 1956 Venice Biennale presentation.

Naked jetskiers, giant bells and a celebrity seagull! Venice Biennale’s wildest moments – in pictures

The Guardian presents a photo essay capturing the most eccentric and memorable moments from the 61st Venice Biennale, running until 22 November 2026. Photographer David Levene documents installations including a concrete 'Origami Deer' evacuated from war-torn Pokrovsk, Ukraine, by artist Zhanna Kadyrova; a seagull that became a minor celebrity after nesting outside the Polish pavilion; and the Holy See pavilion's immersive sound installation curated by Hans Ulrich Obrist and Ben Vickers. Other highlights include the Egyptian pavilion's touch-and-smell 'Silence Pavilion' and a Polish pavilion film featuring deaf and hearing singers.

Robert Mnuchin’s Rothko Sells at Sotheby’s for $85.8 M., Narrowly Missing a Record

A Mark Rothko painting, *Brown and Blacks in Reds* (1957), formerly owned by the late influential art dealer Robert Mnuchin, sold at Sotheby’s on Thursday night for $85.8 million. The work hammered at $74 million, falling short of the upper end of its $70–$100 million estimate, but with premium fees it became the second-most expensive Rothko ever sold at auction, narrowly missing the artist’s record of $86.9 million set by *Orange, Red, Yellow* (1961) in 2012. The painting was part of a sale devoted to Mnuchin’s collection, which also included works by Willem de Kooning, Pablo Picasso, Franz Kline, and Jeff Koons.

Mexico’s art community calls for greater transparency in management of treasured collection

Over 350 Mexican cultural professionals have signed an open letter demanding greater transparency from the Instituto Nacional de Bellas Artes y Literatura (INBAL) regarding the management and export of the Gelman Collection. The collection, recently acquired by the Zambrano family and rebranded as the Gelman Santander Collection, includes 18 works by Frida Kahlo and other major 20th-century Mexican artists, with 30 pieces designated as national artistic monuments requiring state oversight.

At Sotheby’s, a $70M Giacometti Fails to Sell While Works By Munch and Cézanne Ignite Buyer Excitement

Sotheby’s Modern Evening Auction on May 13, 2025, achieved $186.4 million in sales but was overshadowed by the failure of its headline lot: Alberto Giacometti’s hand-painted bronze bust *Grande tête mince (Grande tête de Diego)*, estimated at $70 million. The work, consigned by the Soloviev Foundation, went unsold after minimal bidding, lacking a guarantee or irrevocable bid. Other highlights included a strong performance by Edvard Munch and Paul Cézanne works, with 40% of lots exceeding high estimates. Notable sales included Georgia O’Keeffe’s *Leaves of a Plant* ($12.97 million) and Alexander Calder’s *Four Big Dots* ($8.285 million), both fresh to market.

Rothko from Robert Mnuchin collection fetches US$85.8m, becoming artist’s second-priciest work at auction

A red-and-black Mark Rothko painting, *Brown and Blacks in Reds* (1957), sold for US$85.8 million at Sotheby’s New York on May 14, becoming the artist’s second-most expensive work at auction. The canvas came from the collection of Robert Mnuchin, a former Goldman Sachs partner turned gallerist, and was the star lot of a dedicated 11-lot evening sale that totaled US$166.3 million. The winning bid was placed by Sotheby’s chairman Helena Newman on behalf of a telephone client, with the hammer falling at US$74 million against an estimate of US$70–100 million. The painting was originally owned by Joseph E. Seagram & Sons and hung in the lobby of the Seagram Building, a landmark of corporate modernism designed by Ludwig Mies van der Rohe and Philip Johnson.

London Saw Few Auction Shakeups as Guarantees Steadied the Market

Christie’s marquee evening sales in London achieved a combined total of £197.5 million ($263.8 million), characterized by a steady, prearranged atmosphere rather than high-stakes drama. The auction house relied heavily on financial safety nets, with a 52 percent year-over-year increase in third-party guarantees ensuring the sale of 21 key lots. While the event featured a theatrical unveiling of a new rostrum designed by Sir Jony Ive, the actual bidding remained largely conservative and focused on blue-chip stability.

sothebys saunders old masters sale results 1234743514

A Sotheby's single-owner sale of 55 Old Masters works from the collection of Jordan and Thomas A. Saunders III on May 21 achieved $64.7 million, falling well short of the $80–120 million estimate. The evening sale had a 58.5% sell-through rate, with 17 lots unsold and two withdrawn; a subsequent day sale on May 22 saw a similar 58.3% rate. Top lots included Francesco Guardi's Venetian views at $10.5 million, a record $8.8 million for Jan Davidsz. de Heem, and a record $7.37 million for Frans Post. Despite these highlights, the overall performance was dampened by high estimates, shifting collector tastes, and the prevalence of guarantees.

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New York's marquee spring auctions in May 2025 tested the theory that strong supply drives demand, but results were mixed. Alberto Giacometti's *Grande tête mince* (1955), estimated at $70 million, failed to sell at Sotheby's, while Christie's withdrew a $30 million Andy Warhol electric-chair painting. The top lot of the week was Piet Mondrian's *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* (1922), which fetched $47.6 million from the collection of late Barnes & Noble founder Len Riggio. However, Christie's pre-sold 93% of that collection's value to third-party backers, and the house fell $26 million short of its guaranteed amount. Sotheby's avoided financial risk on the Giacometti by not guaranteeing it, still earning $34.4 million in buyer's premiums. A new record for a living woman artist was set when Marlene Dumas's *Miss January* (1997) sold for $13.6 million at Christie's, though adjusted for inflation it fell short of Jenny Saville's 2018 record.

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A 1922 painting by Piet Mondrian, *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue*, sold at Christie’s New York for $47.6 million, falling short of its $50 million-plus estimate and the artist’s auction record of $51 million set in 2022. The work was the highlight of the “Leonard & Louise Riggio: Collected Works” sale, a 39-lot trove from the late Barnes & Noble founder and Dia Art Foundation chairman, estimated at up to $326 million. The painting sold to a single phone bidder, likely the guarantor, with no room action.

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Christie’s New York held the spring season’s largest single-owner auction, the Leonard & Louise Riggio collection, on Monday evening. The sale achieved $271.9 million total with a 97% sell-through rate by lot, led by Piet Mondrian’s *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* (1922) at $47.6 million. However, a detailed analysis reveals that the hammer total fell $26 million short of the guarantee, and 93% of the value was pre-sold to third-party backers, leaving Christie’s with a razor-thin margin of roughly 7.8% before marketing costs and guarantor fees.

barbara gladstone gallery chelsea townhouse sold 13 million 1234750511

The Chelsea townhouse of the late gallerist Barbara Gladstone sold for $13.1 million, over $1 million above its $11.99 million asking price, in an all-cash deal that closed on August 27. The 19th-century Greek Revival row house at 344 W. 22nd St was purchased by an unnamed buyer, with brokers Scott Hustis and Mark Jovanovic of Compass reporting the sale set a record per square foot for a Chelsea townhouse. Gladstone, who founded the Gladstone Gallery in 1980 and became one of New York's most prominent dealers, died in June 2024 at age 89. She had bought the property in 2011 for $6.3 million. Architect Annabell Selldorf designed the current iteration of the 4,395-square-foot home, and Piet Oudolf designed its garden. The home featured gallery-like Venetian plaster walls and white oak floors that showcased works from Gladstone's private collection.

70 million giacometti flops at sothebys as demand for trophy art softens 2644144

The top lot of Sotheby's May auction season in New York, Alberto Giacometti's bronze sculpture *Grande tête mince (Grande tête de Diego)* (1955), estimated at $70 million, failed to sell on Tuesday night. The work was consigned by the Soloviev Foundation, set up by Stefan Soloviev, son of late mega-collector Sheldon Solow, and was offered without a financial guarantee, a risky strategy that backfired when no bidders emerged. Auctioneer Oliver Barker made several chandelier bids before declaring the lot unsold at $64.2 million, shocking the packed salesroom.

by the numbers christies 21st century sale edges out estimate aided by bounty of guarantees 2645323

Christie’s 21st-century art sale on Wednesday achieved $96.5 million in total sales, a 20 percent increase over the same sale last year. The auction featured 43 lots, with four withdrawn before the sale, and a sell-through rate of 83.7 percent (92.3 percent after withdrawals). The top lot was Jean-Michel Basquiat’s *Baby Boom* (1982), which sold for $23.4 million. The sale was heavily supported by guarantees—24 lots were guaranteed, including 18 with third-party guarantees—accounting for 75 percent of the total presale low estimate. Auctioneer Yü-ge Wang faced cautious bidding, prompting playful remarks as collectors tested lower increments.

The Art Market Year in Review

The art market experienced a turbulent 2025, beginning with a 12% decline in sales from 2024, following a 3% drop in 2023, as reported by the Art Basel and UBS Global Art Market Report. Major auction houses Christie’s, Sotheby’s, and Phillips saw average sales fall 6% in the first half of the year. However, the market rebounded by autumn, with strong sales at London and Paris art fairs and a 15% year-on-year increase in auction sales at the three main houses by December, according to Pi-eX. Key events included Sotheby’s failed sale of Alberto Giacometti’s *Grand tête mince* in May, followed by a record-breaking $236 million sale of Gustav Klimt’s *Portrait of Elisabeth Lederer* in November, and a $31.4 million record for François-Xavier Lalanne’s *Hippopotame Bar*.

Venice Biennale 2026: What are the major trends that will mark the 99 national pavilions?

Biennale de Venise 2026 : quelles sont les grandes tendances qui vont marquer les 99 pavillons nationaux ?

The article previews the 2026 Venice Biennale, highlighting key trends across its 99 national pavilions. Major themes include the hybridization of theater, dance, and performance, particularly in pavilions from Austria, Luxembourg, Belgium, and Lithuania, where artists like Florentina Holzinger, Aline Bouvy, Miet Warlop, and Eglė Budvytytė use radical, body-centric works. Geopolitical engagement is also central, with the Ukrainian pavilion featuring Zhanna Kadyrova's work on resistance and the British pavilion exploring themes of exile and migration. Other notable pavilions include Spain's focus on imagery, a sound installation for the Vatican, a polyphonic piece for Romania, and a film on sign language song for Poland.

evan beard left masterworks launch new york gallery 1234770026

Evan Beard, a former Navy intelligence officer and Oxford economics graduate, is launching a new secondary market gallery called Beard & Co. on New York's Upper East Side after leaving Masterworks, the $1 billion art-tech startup where he ran its secondary market gallery Level & Co. Beard's career path includes stints at Deloitte and Bank of America, where he managed art financing operations and worked with major U.S. collectors. His new gallery will employ a half-dozen staff and function as a discreet private bank for collectors, offering services such as art loans, auction guarantees, consignments, and estate planning.

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Christie’s evening sale of 21st-century art on Wednesday achieved $123.6 million in total sales, including 19 lots from the collection of the late Stefan Edlis and his widow Gael Neeson. The top lot was Christopher Wool’s *Untitled (RIOT)* (1990), which sold for $19.8 million. The sale had a 97 percent sell-through rate, with 36 of 45 lots guaranteed, and the hammer total of $99.7 million exceeded the presale low estimate of $87.5 million. A notable moment was a seven-minute bidding war for a Diego Giacometti coffee table owned by Edlis and Neeson, which sold for $3.65 million against a $1.5–2.5 million estimate.

christies hauls in 690 million at robust 20th century art sale led by 62 million rothko 2714467

Christie’s kicked off the fall auction season in New York with a two-part 20th-century art sale that brought in approximately $690 million, led by Mark Rothko’s *No. 31 Yellow Stripe (1958)*, which sold for $62.2 million. The evening featured 18 works from the collection of Robert F. and Patricia G. Ross Weis, totaling $218 million, followed by a 61-lot main sale that realized $471.7 million. Other top lots included Claude Monet’s *Nymphéas (1907)* at $45.4 million and a new auction record for Beauford Delaney’s *The Sage Black (1967)* at $1.5 million.

by the numbers christies 20th century sale totals modest 217 million 2643857

Christie’s held a doubleheader evening sale on May 12, 2025, featuring its regular 20th-century art auction and the Riggio collection. The various-owners sale achieved $216.9 million in total sales after fees, a 52% decline from the $413 million equivalent sale the previous year. The top lot was Claude Monet’s *Peupliers au bord de l’Epte, crépuscule* (1891), which sold for $42.9 million with fees. The sale had a 94% sell-through rate, with 34 of 36 lots sold and none bought in. Notable moments included a new auction record for Dorothea Tanning at $2.3 million and a strong result for Remedios Varo’s *Revelación* (1955) at $6.22 million.

Sotheby’s Posts $433 Million Haul, as Trophy Lots Continue to Carry the Market

Sotheby's May 2025 evening auctions in New York generated $433.1 million, a 132.7% increase over the same sales last spring, despite offering fewer lots. The evening featured an 11-lot sale from the collection of the late banker-turned-dealer Robert Mnuchin, which alone brought in $166.3 million, led by Mark Rothko's "Brown and Blacks in Reds" (1957) selling for $85.8 million. The main contemporary art auction, including "The Now" sale, totaled $266.8 million, with over 80% of lots guaranteed. Four works went unsold and one was withdrawn, yielding a 91% sell-through rate.

School of London Masterworks Drive Sotheby’s £131M Modern & Contemporary Sale

Sotheby’s kicked off the spring auction season in London with a Modern and Contemporary Evening Sale that generated £131 million ($177.4 million) including fees. The auction saw a high 98 percent sell-through rate, bolstered by the sale of four significant works from the collection of financier Joe Lewis. The top lot was Francis Bacon’s 1972 "Self-Portrait," which fetched £16.03 million, while a new auction record was established for Leon Kossoff.

Spurs owner’s School of London trove nets US$47.8m in Sotheby’s white-glove evening sale

Sotheby’s Modern & Contemporary Art Evening Sale in London achieved a rare 'white-glove' result, with all 53 lots finding buyers for a total of £131 million ($175 million). The auction was highlighted by a selection of four School of London masterpieces from the private collection of billionaire Joe Lewis, owner of Tottenham Hotspur. These works, including a 1972 Francis Bacon self-portrait and two Lucian Freud portraits, realized a combined £35.8 million ($47.8 million) and established a new auction record for artist Leon Kossoff.

Spurs owner Joe Lewis to sell US$25m of School of London works at Sotheby’s

Billionaire Joe Lewis, the former owner of Tottenham Hotspur, is set to auction four significant works from the School of London at Sotheby’s London on March 4. The selection is headlined by a 1972 Francis Bacon self-portrait estimated at £8 million, alongside major paintings by Lucian Freud and Leon Kossoff. This marks the first time Lewis has publicly sold works from his renowned collection, which is estimated to be worth approximately $1 billion and is famously housed in part on his superyacht.

Kicking off New York November sales, Christie's nets healthy $690m from double-header 20th-century auction

Christie's kicked off New York's November auction season with a double-header 20th-century evening sale on November 17, generating $574.7 million before fees and $690 million with fees. The sale featured 80 lots, including 18 from the collection of supermarket magnate Robert Weis and his wife Patricia Ross Weis, with highlights such as Pablo Picasso's *La Lecture (Marie-Thérèse)* selling for $45.4 million and Mark Rothko's *No. 31 (Yellow Stripe)* achieving $62.1 million. Two artist records were set, including for Leonor Fini, and the sale achieved a 94% sell-through rate, with 59 lots backed by third-party or house guarantees.