Art News. Vasari Codex

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.

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phillips records 10 rise in global sales for 2025 taking 927 m as private sales surge by 66

Phillips reported global sales of $927 million for 2025, a 10% increase over the previous year. Auction sales accounted for $725 million, while private sales surged 66% to $202 million. The auction house attributed growth to the launch of Priority Bidding, a platform offering reduced buyer's premiums for early bids, which led to a 275% increase in early selling bids. Phillips achieved an 88% sell-through rate by lot, with seven white-glove auctions and over 110 world auction records. Notable sales included a Patek Philippe watch for $17.6 million and Francis Bacon's *Study for Head of Isabel Rawsthorne and George Dyer* (1967) for $16 million. The luxury watch division generated $290 million, its highest annual total, and the Dropshop platform attracted many first-time and younger buyers.

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