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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.

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.

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Christie’s announced a projected sales total of $2.1 billion for the first half of 2025, matching its H1-2024 figure. While art categories like Impressionist, modern, and Old Masters saw modest growth—Old Masters sales rose 15% to $55 million—luxury categories (handbags, watches, cars, jewelry) surged nearly 30% to $468 million, now accounting for 22% of the total. Notable sales included René Magritte’s *La reconnaissance infinite* (1933) for £10.3 million and Piet Mondrian’s *Composition with Large Red Plane, Bluish Grey, Yellow, Black, and Blue* (1922) for $46.7 million. Guaranteed lots remained low at 1.5%, and the sell-through rate held steady at 88%.

Art market bounce back continues in New York with Christie's $123.5m 21st-century sale

Christie’s 21st-century evening sale at Rockefeller Centre in New York on 19 November achieved $99.5 million before fees ($123.5 million with fees), surpassing last November’s equivalent sale of $106.5 million with fees. The sale featured 45 lots, with only one unsold (a Cecily Brown abstract), resulting in a 2% buy-in rate. Three artist records were set for Firelei Báez, Joan Brown, and Olga de Amaral. A major highlight was the collection of Chicago collectors Gale Neeson and the late Stefan Edlis, comprising 19 lots that realized $40.3 million ($49.2 million with fees), including works by Andy Warhol, Richard Prince, and Diego Giacometti. Other notable sales included Cindy Sherman’s *Untitled Film Still #13* (1978) at $2.2 million with fees, Ed Ruscha’s *How Do You Do?* at $6.7 million with fees, and a Warhol *The Last Supper* (1986) sold to Paris dealer Frederic Larroque for $8.1 million with fees.

christies 20th century art november new york by the numbers 2715393

Christie’s fall auction season in New York opened with a robust evening sale of 20th-century art on Monday night at Rockefeller Center, achieving a total of $690 million after fees. The sale featured an 18-lot offering from the private collection of Robert and Patricia Weis, followed by the main 20th-century auction. The top lot was Mark Rothko’s *No. 31 (Yellow Stripe)* (1958), which sold for $62 million, while Claude Monet’s *Nymphéas* (1907) brought $45.5 million. The sale had a 95 percent sell-through rate, with 55 of 80 lots guaranteed, and strong in-person bidding provided a boost of market confidence after months of art fair cancellations and gallery closures.

Inside Contemporary Art’s $60M Week

The contemporary art market just concluded a high-stakes week of auctions in New York, totaling approximately $60 million in sales across various houses. While the figures indicate a stabilized market compared to the post-pandemic boom, the results were characterized by cautious bidding and a reliance on guaranteed lots to ensure success.