Christie’s opened New York’s fall marquee auctions with a $690 million evening sale across 79 lots, surpassing the pre-sale low estimate of $534.7 million. The doubleheader included the Robert and Patricia Ross Weis collection, featuring works by Picasso, Matisse, Mondrian, and Rothko, followed by a 20th-century sale. The auction achieved a 97% sell-through rate by value and a 96% by lot, marking a 41% increase from May’s auctions. Separately, Sperone Westwater gallery announced it will close after 50 years, and Art Basel Hong Kong revealed details for its 2026 edition featuring 240 galleries.
This auction result signals a potential recovery in the art market after a period of uncertainty, offering optimism for collectors and dealers. The closure of Sperone Westwater, a historic New York gallery that championed artists like Bruce Nauman and Francesco Clemente, underscores the ongoing challenges faced by mid-sized galleries in a consolidating market. Meanwhile, Art Basel Hong Kong’s continued expansion reflects the enduring importance of Asia as a global art hub.