Private Sales Are Surging as Auction Houses Lean into Exclusive, Experience-Led Selling
Sotheby's and Christie's are increasingly turning to private, invitation-only sales to move high-value artworks, bypassing the traditional auction model. Sotheby's recent "The Apartment" exhibition in London, featuring works by David Hockney, George Condo, and Jean-Michel Basquiat, sold half its $40 million inventory before the public even saw it. Christie's reported that its three most expensive paintings sold in 2025 were all private transactions, with the house trading $1.5 billion privately last year—nearly a quarter of its global sales.