Christie’s New York concluded its Post-War & Contemporary Art Day Sale on November 10, 2023, generating a total of $66.3 million. The auction saw strong performance across the board, selling 85% by lot and achieving 102% of the hammer price against low estimates. High-profile works by Andy Warhol, Jean-Michel Basquiat, and Hans Hofmann led the results, contributing to a massive Marquee Week running total of over $814 million.
Wie teuer Kunstauktionen wirklich sind
Art auction houses often promote price transparency, but the final hammer price is merely the starting point for a complex web of additional costs. Buyers are frequently hit with buyer's premiums, value-added taxes, and resale right royalties (droit de suite) that can inflate the final invoice by as much as 50 percent beyond the initial bid.
Wie teuer Kunstauktionen wirklich sind
Art auction houses often promote transparency through public bidding, but the final hammer price is merely the starting point for a complex web of additional costs. Buyers frequently face buyer's premiums, value-added taxes, and resale right royalties (droit de suite) that can inflate the final invoice by up to 50 percent beyond the initial bid.
The global photography market experienced a significant surge in 2025, with auction turnover at major houses like Christie's, Sotheby's, and Phillips rising 19.1% to $40.4 million. A key trend identified in the Deloitte Private report is the shift away from specialized photography-only auctions toward the integration of high-value photographic works into broader modern and contemporary art sales. This transition has helped drive the average hammer price up by nearly 39%, as seen with million-dollar results for artists like Man Ray, Cindy Sherman, and William Eggleston.