Sotheby’s May Auctions: Rothko’s $100M Masterpiece Headlines

Sotheby's is holding its most ambitious May auction series in New York, headlined by Mark Rothko's monumental painting *Brown and Blacks in Reds* (1957), estimated at $70–100 million. The sales include a dedicated auction for the collection of legendary dealer and collector Robert Mnuchin, valued at over $130 million, featuring works by Rothko, Franz Kline, and Jeff Koons. Other highlights include Jean-Michel Basquiat's *Museum Security (Broadway Meltdown)* (1983), estimated at over $45 million, and Willem de Kooning's *Untitled III* (1975), making its auction debut with a $25–35 million estimate. The series spans Modern and Contemporary art, with additional works by Pablo Picasso and Vincent van Gogh.

The Top Collections Leading the May Marquee Auctions

The article reports that the May 2025 marquee auctions at Christie's and Sotheby's are being driven by a resurgence of major single-owner collections, reversing a period of trophy scarcity in the secondary market. Key collections include the $130 million Robert E. Mnuchin collection at Sotheby's, the personal collection of gallerist Marian Goodman at Christie's, and the S.I. Newhouse collection expected to generate around $450 million, featuring Jackson Pollock's 'Number 7A (1948)' and Constantin Brancusi's 'Danaïde (1913)'. The article notes that the ultra-high tier above $10 million rose 30% year-on-year, and single-owner collections in New York auctions totaled $730.9 million, an 89.9% increase from Q1 2025.

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.

Sotheby’s Opens the London Spring Marquee Sales With a £131M White-Glove Night

Sotheby’s London kicked off the spring auction season with a "white-glove" Modern & Contemporary Evening Sale, totaling £131 million ($176 million). Despite significant geopolitical instability and market anxiety following recent escalations in the Middle East, the auction achieved a 100 percent sell-through rate across 54 lots. Key highlights included works by Andy Warhol, a Claude Monet landscape once owned by John Singer Sargent, and a Jean-Michel Basquiat painting that sold for £3.7 million after a mid-sale renegotiation.

Christie’s Holds Its Nerve Mid-Marathon as the 21st Century Evening Sale Secures a Steady $123.6 Million

Christie's 21st Century Evening Sale on November 20 achieved $123.6 million across 45 lots, with a 98% sell-through rate. The top lot was Andy Warhol's *The Last Supper*, selling for $8.1 million with fees, while works from the collection of Stefan Edlis and Gael Neeson brought in $49.2 million. The sale included strong results for Christopher Wool, Cindy Sherman, and Diego Giacometti, though it lacked the record-breaking fireworks of earlier sessions.

Christie’s S. I. Newhouse Sale Totals $630.8 M., Bringing Cumulative Total to $1 B.

Christie’s evening auction of 16 works from media magnate S.I. Newhouse’s collection totaled $630.8 million with fees, setting multiple records. The top lot was Jackson Pollock’s *Number 7A, 1948*, which sold for $181.2 million after a 10-minute bidding war, more than doubling Pollock’s previous auction record. Other highlights included Constantin Brâncuși’s *Danaïde* (ca. 1913), which set a new record for the artist at an undisclosed price above $82 million, and strong results for works by Joan Miró, Jasper Johns, and Pablo Picasso.

Rothko Leads Sotheby’s $433.1 M. Contemporary Art Sale, UK Returns Artifacts to Ethiopia, and More: Morning Links for May 15, 2026

Sotheby’s kicked off the May marquee auction season with a $433.1 million result from its modern and contemporary art evening sales in New York. The sale was led by Mark Rothko’s painting *Brown and Blacks in Reds* (1957), which sold for $85.8 million from the estate of late dealer Robert Mnuchin, who had purchased it in 2003 for $6.7 million. The auction also saw strong results for works by women artists like Joan Mitchell and ultra-contemporary artists such as Ding Shilun and Yu Nishimura. Separately, the King’s Own Royal Regiment Museum Trust in the UK returned looted artifacts to Ethiopia, including a lock of hair and blood-stained cloth belonging to Emperor Tewodros II, taken during the Anglo-Indian Expedition of 1868.

From the World Cup and the Olympics to two new museums: upcoming cultural attractions in Los Angeles

Los Angeles is preparing for a major influx of cultural and sporting events, including hosting matches for the 2026 FIFA World Cup at SoFi Stadium and the 2028 Summer Olympics. The city is also enhancing its cultural infrastructure with new Metro stations featuring site-specific art commissions and the imminent openings of the Lucas Museum of Narrative Art and the David Geffen Galleries at LACMA.

Unseen George Condo Works Arrive at Auction From Anna Condo’s Collection

Anna Condo, the former wife of American painter George Condo, is bringing 27 previously unseen works from her private collection to auction at Christie’s. The collection, which includes paintings, drawings, and sculptures acquired during their 28-year marriage, will be featured in the Post-War and Contemporary Art day sale on May 21. These works have never been exhibited or sold publicly, offering a rare glimpse into the artist's private creative output between 1988 and 2017.

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Three major artworks from the collection of the late philanthropist and collector Agnes Gund will be offered at Christie's marquee May sales in New York. The lots include Mark Rothko's 'No. 15 (Two Greens and Red Stripe)' (estimated around $80 million), Cy Twombly's 1961 'Untitled' (estimated $40-60 million), and Joseph Cornell's 'Untitled (Medici Princess)' (estimated $3-5 million), all being sold on the secondary market for the first time.

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Three major artworks from the collection of the late arts patron Agnes Gund will be auctioned at Christie's in New York this May, with a combined minimum estimate of $123 million. The works include Mark Rothko's 'No. 15 (Two Greens and Red Stripe)' (est. ~$80 million), a Cy Twombly untitled painting from 1961 (est. $40-60 million), and Joseph Cornell's 'Untitled (Medici Princess)' from 1948 (est. $3-5 million).

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New York's marquee auction week delivered strong results, with Sotheby's and Christie's posting combined sales of nearly $2 billion. Sotheby's achieved a record $706 million evening at its new Breuer Building headquarters, driven by the Leonard Lauder estate sale, while Christie's $690 million 20th-century sale was up 41.9% from last November. Gustav Klimt's *Portrait of Elisabeth Lederer* sold for $236.4 million, setting a new auction record for the artist and becoming the most expensive Modern artwork ever sold at auction. Frida Kahlo's *El Sueño (La Cama)* fetched $54.7 million, a record for a work by a woman artist at auction.

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Last week's New York marquee auctions saw record-breaking sales and billions of dollars in transactions, providing a much-needed boost of confidence after nearly three years of market contraction. The article reviews top sales and notable flops from the week, analyzing how these results are shaping the current market outlook.

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Bonhams will auction works from the collection of late actor Gene Hackman this November, spanning three sales—one live and two online. The live sale, titled “Gene Hackman: A Life in Art, Part I,” takes place November 19 in New York and features highlights such as Milton Avery’s 1957 painting *Figure on the Jetty* (estimate $500,000–$700,000) and Richard Diebenkorn’s 1986 color etching *Green* (estimate $300,000–$500,000). Online sales include two of Hackman’s Golden Globes, a still life painting by the actor himself, and additional lots of annotated books, scripts, and cinematic memorabilia. Hackman, who died in February, was a major arts patron in Santa Fe, a painter, and a board member of the Georgia O’Keeffe Museum.

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Abu Dhabi will host the most expensive art exhibition ever staged by Sotheby's in the Middle East on October 1 and 2, valued at approximately $150 million. The exhibition features six masterpieces by Vincent van Gogh, Paul Gauguin, Frida Kahlo, René Magritte, Camille Pissarro, and Edvard Munch, sourced from major private collections including those of Leonard A. Lauder, Cindy and Jay Pritzker, and Matthew and Kay Bucksbaum. It takes place at the Bassam Freiha Art Foundation on Saadiyat Island Cultural District and marks Sotheby's first public fine art show in the UAE, ahead of its Abu Dhabi Collectors' Week in November.

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Sotheby's has announced November 8 as the opening date for its new headquarters in the iconic Breuer Building at 945 Madison Avenue, New York. The auction house purchased the building from the Whitney Museum in 2023 and commissioned Pritzker Prize-winning architects Herzog & de Meuron, along with PBDW Architects, to renovate the landmarked structure. The opening will feature a blockbuster exhibition of modern and contemporary art, followed by major sales the week of November 17. The building, designed by Marcel Breuer and completed in 1966, previously housed the Whitney Museum, the Metropolitan Museum of Art, and the Frick Collection.

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MoMA PS1 has opened its marquee spring exhibition, “The Gatherers,” a group show featuring 14 artists from around the world who explore the psychic and material burdens of climate change, globalization, and neoliberalism. Curated by Ruba Katrib, the exhibition includes works in sculpture, video, assemblage, and installation, spanning regions from the Democratic Republic of Congo to Lithuania, and is on view through October 6. Katrib, PS1’s chief curator and director of curatorial affairs, emphasizes that the show lets the artworks speak for themselves through form and material rather than delivering a direct lecture.

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Belgian Neo-Impressionist Georges Lemmen's painting *Jeune femme faisant du crochet (Julie Lemmen)* (1890) sold for $698,500 at Sotheby's New York on May 14, shattering its $50,000–$70,000 estimate and more than doubling the artist's previous auction record. The Pointillist portrait of the artist's sister, Julie Fréderique Lemmen, had been in a private Florida collection since 1960 and was consigned through Sotheby's online portal. The sale drew over a dozen bidders, including a museum, two dealers, and five private collectors, and was backed by an irrevocable bid.

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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.

Hong Kong Art Week 2026: Art Basel Preview

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Hong Kong’s art market is signaling a cautious recovery in 2026 as the city prepares for its marquee Art Week. Despite macroeconomic improvements in real estate and equities, the sector is grappling with significant logistical hurdles caused by the US–Israel–Iran War. Shipping costs between Europe and China have surged by 30%, leading to the cancellation of the International Antiques Fair and the withdrawal of high-profile delegations like the Sharjah Art Foundation.

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Artnet News critic Ben Davis presents his annual "art words of the year" for 2025, a curated list of terms that capture prevailing moods and ideas in the art world. The list includes "antimemetics" (from writer Nadia Asparhouva and internet fiction), "cyniserity" (coined by art writer David Colman to describe Anne Imhoff's work), "delightmare" (a horror-adjacent feeling linked to overconsumption and AI art, exemplified by Beeple's Art Basel installation), "elite capture" (from philosopher Olúfẹ́mi O. Táíwò's book, now a tool for critiquing identity politics in art), and "K-shaped" (an economic term describing divergent recovery, applied to gallery closures versus record auction sales).

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The article reports on the state of the art market at the end of 2025, noting that while it has been a difficult year with three years of contraction, there are signs of improvement. Recent sales in Miami and $2.2 billion in marquee auctions in New York last month have boosted optimism. Factors such as lower interest rates and easing geopolitical tensions are contributing to a slightly rosier outlook for 2026, though the article warns that some sectors will recover while others may not for some time.

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Phillips announced a major leadership shakeup on Monday, with global chairwoman Cheyenne Westphal resigning after eight years. Robert Manley was named chairman of modern and contemporary art, and Miety Heiden was appointed chairman of private sales. Additionally, Jean-Paul Engelen, president for the Americas and worldwide co-head of modern and contemporary art, is leaving after over a decade to join Acquavella Galleries as a director. The changes follow a challenging marquee auction season, where the May evening sale matched its pre-sale estimate of $52 million but fell 40% below the previous year's $86 million haul.

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Sotheby's has been selected by the trustees of Barbara Gladstone's estate to auction twelve major works from the legendary gallerist's personal collection. The single-owner sale, estimated at over $12 million, will take place on May 15 as part of the New York marquee sales. Highlights include Richard Prince's "Man Crazy Nurse" (2003, est. $4–6 million), Andy Warhol's black "Flowers" (1964, est. $1–1.5 million), and works by Mike Kelley, Rudolf Stingel, Carroll Dunham, Elizabeth Peyton, and Alighiero e Boetti. None of the artists are currently affiliated with Gladstone Gallery, though some were previously represented by her.

Sotheby’s Unveils Plans for Breuer Building, Announces Opening Date

Sotheby's will open its new global headquarters in the Marcel Breuer–designed building at 945 Madison Avenue on November 8, 2025, after a renovation by Herzog & de Meuron with local partner PBDW Architects. The Brutalist landmark, originally completed in 1966 for the Whitney Museum of American Art, later housed the Met Breuer and the Frick Collection during its renovation. The project restores Breuer's original open gallery floors, adds state-of-the-art lighting and climate control, and preserves period details like the lobby's domed ceiling lights. The opening will feature a free public exhibition of Modern and Contemporary art ahead of marquee auctions starting November 17, with design sales and Luxury Week following on December 5, and a fine-dining restaurant by Roman and Williams opening later in the winter.

Sotheby’s Closes Marquee Week With $186.1M in Contemporary Sales

Sotheby’s closed its May marquee auction week with $186.1 million in combined contemporary sales across three sessions on May 16. The evening began with a white-glove sale of 12 works from Barbara Gladstone’s personal collection, fetching $18.8 million, followed by a $40.4 million sale from Daniella Luxembourg’s collection, which signaled revived appetite for Italian postwar art. The main Contemporary Evening Auction saw strong bidding for emerging artists like Danielle Mckinney and Mohammed Sami, though some high-profile lots like Richard Prince’s Man Crazy Nurse fell short of estimates.

Hong Kong Marquee Art Sales Total $164.9 M., Up 18 Percent From Equivalent 2025 Auctions

Christie's, Phillips, and Sotheby's spring marquee auctions in Hong Kong generated a combined $164.9 million, an 18% increase from the equivalent sales in spring 2025. The auctions, strategically timed to coincide with Art Basel Hong Kong, saw strong demand for trophy works, with Christie's leading the season at $83.8 million. Key sales included a Gerhard Richter painting for $11.77 million and a Sanyu work for $8.17 million, while Sotheby's sold a Joan Mitchell painting for $17.6 million, the season's top lot.

The 10 Most Expensive Auction Works in 2025

The article reports on the ten most expensive auction lots of 2025, led by Gustav Klimt's 'Bildnis Elisabeth Lederer (Portrait of Elisabeth Lederer)' (1914), which sold for $236.36 million at Sotheby's, making it the second-most-expensive artwork ever sold at auction. The top end of the market rebounded after a quieter 2024, with the 100 most expensive lots totaling $2.13 billion, up from $1.8 billion the previous year. Nine of the top ten lots were sold during the marquee New York sales in November, where Sotheby's, Christie's, and Phillips together generated over $2 billion and set 16 artist auction records. The list includes multiple Klimt works from the collection of American philanthropist Leonard A. Lauder, as well as a Vincent van Gogh still life that sold for $62.71 million.

Marquee May auctions in New York come at a volatile moment

New York's marquee spring auctions, beginning May 12, are facing significant headwinds from President Donald Trump's second-term policies, particularly the 'Liberation Day' tariffs and resulting stock-market volatility. Phillips deputy chairman Robert Manley confirms at least one eight-figure work was pulled from sale due to tariffs. The combined Modern and contemporary auctions at Christie's, Sotheby's, and Phillips carry an estimated $1.1bn to $1.5bn in art—the lowest total estimate for spring sales since 2010, roughly $250m lower than May 2024. No nine-figure-estimate lots have been consigned, and the number of catalogued lots is the lowest since 2007 (excluding pandemic and recession years). Single-owner collections dominate, with Christie's securing the $200m Leonard and Louise Riggio collection, including a Piet Mondrian estimated at $50m, and works from Anne and Sid Bass. Sotheby's offers collections from dealers Daniella Luxembourg and others.

Ten Highlights From New York’s Spring Marquee Auctions

New York's spring marquee auctions are set for May 2025, with Christie's, Sotheby's, and Phillips presenting strong lineups after a 25% drop in total public sales in 2024. Highlights include the $250 million Leonard and Louise Riggio collection at Christie's, featuring Piet Mondrian's *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* (est. $50 million), and Alberto Giacometti's *Grande tête mince* (est. over $70 million) at Sotheby's. Other top lots include Lucio Fontana's *The End of God*, Jean-Michel Basquiat's *Baby Boom*, a Rothko from the Bass mansion, Claude Monet's *Crepuscular Peupliers*, Olga de Amaral's evening sale debut, a trove of 40 Roy Lichtenstein works, and an Ed Ruscha piece. The sales test market resilience amid supply constraints and a cautious art market.