Sales in the decorative-art category—including design objects, furniture, jewelry, and watches—dropped nearly 42% year on year in 2024, netting $3.3 billion, the lowest total in a decade. The average price of a decorative artwork at auction fell 39.5% to $13,010, also the lowest since 2014. Sotheby’s and Christie’s remained nearly tied, with Sotheby’s edging ahead by $72.9 million. Europe led regional sales with $1.3 billion, followed by Asia at $1 billion and North America at $898 million.
This decline matters because it signals a broader contraction in the art market, with decorative art—often seen as a bellwether for discretionary luxury spending—suffering more sharply than fine art. The data, part of the Artnet Intelligence Report, highlights shifting collector tastes and economic pressures that could reshape auction strategies and dealer inventories in 2025.