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Consignors Revealed: The Mystery Sellers Behind the $1.8 Billion May Auctions

Sotheby's kicked off the May auction season with a $433 million sale, including an 11-lot group from the estate of late dealer Bob Mnuchin, led by an $86 million Mark Rothko painting. The three major auction houses are offering $1.8 billion worth of art by low estimate, a 50% increase from last year, driven by consignments from estates of key figures like Mnuchin, philanthropist Agnes Gund, and dealer Marian Goodman. Christie's will stage a sale from publisher S.I. Newhouse's collection expected to bring $450 million, potentially setting records for Jackson Pollock and Constantin Brancusi. The article reveals that many top sellers are anonymous, but unmasked names include the Dennison family and French collector John Sayegh-Belchatowski.

This month’s blockbuster auctions in New York could bring upwards of $2.5bn

This month's May auctions in New York are projected to generate between $1.8 billion and $2.6 billion across Christie’s, Sotheby’s, Phillips, and Bonhams. Major highlights include the estates of legendary dealers Marian Goodman and Robert Mnuchin, with top lots such as Gerhard Richter's *Kerze (Candle)* (est. $35m–$50m) at Christie's and Mark Rothko's *Brown and Blacks in Reds* (est. $70m–$100m) at Sotheby's. Additional offerings include works from the late S.I. Newhouse collection, featuring Jackson Pollock's *Number 7A* and Constantin Brâncuși's *Danaïde*, each estimated at $100m, as well as pieces from the collections of Agnes Gund and Marilyn Arison.

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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.

A Joan Mitchell diptych and a rare stack by Donald Judd: our pick of the May auctions

The Art Newspaper highlights five major lots from New York's May 2025 auctions. Phillips offers Joan Mitchell's diptych 'Plain' (1989), estimated at $5-7 million, from the collection of late Miami art patron Tina Hills. Christie's presents Donald Judd's rare copper and red Plexiglas 'Untitled (Stack)' (1969), estimated at $10-15 million, from the Minimalist collection of the late Henry S. McNeil Jr. Sotheby's leads with Jean-Michel Basquiat's 'Museum Security (Broadway Meltdown)' (1983), estimated above $45 million, and Mark Rothko's 'Brown and Blacks in Reds' (1957), estimated at $70-100 million from the collection of late dealer Robert Mnuchin.

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Spring 2025 auction results at Christie’s and Sotheby’s in New York showed a mixed market. Major lots like Alberto Giacometti’s *Grande tête mince* failed to sell, and Andy Warhol’s *Electric Chair* was withdrawn. However, top sales included Piet Mondrian’s *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* for $47.56 million, Claude Monet’s *Peupliers au bord de l’Epte, crépuscule* for $42.96 million, and Mark Rothko’s *No. 4 (Two Dominants)* for $37.78 million. Works by Basquiat, Magritte, Picasso, and Richter also sold well.

hot lots and top flops 6 artworks that had shocking results at the marquee may auctions 2646787

Artnet News analyzed six standout lots from the marquee May auctions at Christie's and Phillips, highlighting both surprising successes and failures. Among the 'hot lots,' Mark Tansey's study for "The Enunciation" (1992–93) sold for $3.2 million at Christie's—over ten times its low estimate—while Henri Matisse's tiny portrait "Henriette, robe jaune" (1923) fetched $1.4 million, nearly quadrupling expectations. Firelei Báez's "Untitled" (2017) also soared, selling for $381,000 at Phillips, more than triple its high estimate. The article contrasts these with 'top flops,' though the provided text focuses on the successes.

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Sotheby’s has secured the personal collection of the late financier and legendary art dealer Robert Mnuchin for its marquee May auctions in New York. The 24-work consignment is headlined by Mark Rothko’s 1957 masterpiece 'Brown and Blacks in Reds', which carries an estimate of $70 million to $100 million. The collection also features significant works by Willem de Kooning, Franz Kline, and Jeff Koons, reflecting Mnuchin's lifelong dedication to postwar abstraction and the New York School.

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.

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Frida Kahlo's 1940 self-portrait *El sueño (La cama)* sold for $54.7 million at Sotheby's New York on November 20, far exceeding its pre-sale estimate of $40–60 million. The painting, consigned by the estate of Selma Ertegun, was won by a phone bidder handled by Sotheby's senior vice president Anna Di Stasi. The sale broke Kahlo's previous auction record of $34.9 million set in 2021 for *Diego y yo*, as well as the record for a Latin American artwork and the overall record for a work by a woman artist at auction, surpassing Georgia O'Keeffe's $44.4 million *Jimson Weed/White Flower No. 1*.

'I get strong gut reactions': Jonathan Travis on what he collects and why

Jonathan Travis, a realtor and art collector who has helped drive the migration of New York galleries to Tribeca, discusses his collecting habits in an interview with The Art Newspaper. Travis, a partner at Redwood Property Group, has found Tribeca homes for around 40 galleries and co-founded the Wolf Hill artist residency in Chappaqua, New York, with Ethan Rafii. He shares details about his first purchase (a Nicole Eisenman painting), his most recent acquisition (a Masanori Tomita painting), and his strong gut reactions when buying art in person. He also mentions works in his collection by artists such as Sasha Gordon, Jenna Gribbon, and Arcmanoro Niles, and expresses excitement for the Salvador Dalí show at Di Donna and the May auctions.

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Christie’s will auction Jean-Michel Basquiat’s 1982 painting *Baby Boom* with an estimate of $20–$30 million during its May 14 sale of 21st-century art in New York. The work, which depicts three figures thought to be the artist and his parents, was first shown in a landmark 1982 exhibition at Fun Gallery and later appeared at Lévy Gorvy gallery in 2017 with a $30 million price tag. Its seller at that time was collector Peter Brant.

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.

Coveted Rothko From Robert Mnuchin’s Collection Nets $85.8 Million in New York

A major Mark Rothko painting, *Brown and Blacks in Reds* (1957), from the collection of the late financier and dealer Robert Mnuchin, sold for $85.8 million at Sotheby’s New York, becoming the second-highest price ever achieved for the artist at auction. The work, estimated at $70–100 million, was part of an 11-lot sale dedicated to Mnuchin’s collection, which also includes works by Willem de Kooning, Pablo Picasso, and Franz Kline. A phone bidder won the painting, with Helena Newman, chairman of Sotheby’s Europe, handling the bid.

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.

This month’s New York auctions could bring up to $2.3bn

New York's leading auction houses, including Sotheby's and Christie's, expect to generate between $1.7bn and $2.3bn during their November sales, driven by major consignments such as 55 works from the estate of Leonard Lauder and 37 works from the collection of Jay and Cindy Pritzker. Sotheby's, which has moved its headquarters into the former Whitney Museum's Breuer Building, leads the season with estimated sales of $863m to $1.175bn, featuring Gustav Klimt's Portrait of Elisabeth Lederer (estimated at $150m) and Frida Kahlo's El Sueño (La Cama) (estimated at $40m-$60m).

A young Richter’s painting of an even younger Polke and a once-grimy Brazilian landscape by Frans Post: our pick of the May auctions

The article previews five major lots coming to auction in New York in May 2025, spanning Phillips, Sotheby's, Christie's, and Bonhams. Highlights include Gerhard Richter's 'Mann mit zwei Kindern' (1966), a portrait of Sigmar Polke estimated at $4–6 million; Frans Post's 'View of Olinda with Ruins of the Jesuit Church' (1666), estimated at $6–8 million and expected to break the artist's record; Andy Warhol's 'Big Electric Chair' (1967–68), estimated around $30 million; and Fernando Botero's 'The Bed' (1982), estimated at $700,000–$1 million. Each work is making its auction debut or is a rare market appearance.

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Artnet News analyzed the 10 most expensive lots sold at auction in 2024, drawing on the Artnet Price Database. The top lot was René Magritte's *L'Empire de Lumières* (1954), which sold for $121.2 million at Christie's New York in November, setting a new auction record for the artist and becoming the only work to break nine figures this year. Other notable sales included Ed Ruscha's *Standard Station, Ten-Cent Western Being Torn in Half* (1964) at $68.3 million, Claude Monet's *Nymphéas* (1914–17) at $65.5 million, and Jean-Michel Basquiat's *Untitled (ELMAR)* (1982) at $46.4 million. Seven of the top 10 lots sold in New York, with Hong Kong, London, and Vienna also represented.

Uncertainty, But Also Optimism, Mark New York Art Week

New York Art Week in May will feature high-value auction items and several major private collections going to market, serving as a key indicator of the art market's health amid current economic and political uncertainty. The event brings together galleries, auction houses, and collectors for a concentrated period of sales and exhibitions.