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a tale of four cities 2534038

Artnet News and Morgan Stanley have released a report analyzing the global art auction market across four major cities—London, Paris, Hong Kong, and New York—over the period from 2013 to 2023. Total auction sales for the first half of 2024 fell to $5.05 billion, down from $7.17 billion in the same period of 2023. The report highlights a dramatic 49 percent decline in London's auction sales following the 2016 Brexit vote, while New York has maintained its dominant position, driven by blockbuster collections like those of Peggy and David Rockefeller and Paul G. Allen. Hong Kong saw growth until the Chinese property crisis in 2022, and Paris has gained ground post-Brexit, with sales up 30 percent over 2013.

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christies 2025 sales results analysis 1234767047

Christie's closed 2025 with $6.2 billion in projected global sales, a nearly seven percent increase from $5.8 billion in 2024 and in line with its 2023 total. Auction sales reached $4.7 billion, up eight percent year-over-year, while private sales held steady at $1.5 billion. The year's top lot was Mark Rothko's *No. 31 (Yellow Stripe)*, which sold for $62.1 million in New York. Other highlights include a record Picasso sale in Hong Kong ($25.4 million) and the Fabergé Winter Egg in London (£22.9 million). The house also saw strong performance from its automobiles business, Gooding Christie's, which delivered $234 million in sales. Geographically, the Americas grew 15 percent to $2.58 billion, while Asia-Pacific slipped 5 percent.

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