what would happen to auction houses if luxury art sales 1234773779
Major auction houses including Christie's, Sotheby's, and Phillips are experiencing a significant shift as luxury goods—such as cars, watches, handbags, and jewelry—see explosive growth while fine art sales decline. In 2025, fine art sales at the 'Big Three' fell by 35% to $7.04 billion, whereas luxury auction sales rose 18% to $1.84 billion. This trend is most visible at Sotheby’s, where luxury now accounts for a third of total revenue, driven by massive private sales and strategic expansions into sectors like collector cars.
