Sotheby's held a successful three-part evening auction in New York on May 15, 2025, achieving a total of $154.2 million in hammer sales ($186.1 million with fees), within its pre-sale estimate. The sale included 12 lots from the estate of late dealer Barbara Gladstone, which sold 100% for $15.1 million, and 15 works from the collection of Daniella Luxembourg, which brought $33.6 million. The main event, Sotheby's The Now and Contemporary evening auction, featured 41 lots—including works from the Dorothy and Roy Lichtenstein collection and three deaccessioned by US museums—and achieved a 93% sell-through rate, hammering $105.4 million. A standout was Andy Warhol's 'Flowers' (1964) from the Gladstone estate, which sold for $3.1 million hammer, more than double its high estimate.
The sale matters because it demonstrated resilience in a cooling art market, with total results jumping 61% from the previous autumn's equivalent sale, despite fears of recession driven by US trade policies and tariff uncertainties. The strong performance of collections tied to powerful dealers—Gladstone and Luxembourg—underscored what Sotheby's called the 'halo effect' of their reputations, boosting buyer confidence. The sale also highlighted the growing global demand for Italian Arte Povera, as Luxembourg's collection shifted such works from European to American salesrooms, reflecting broader market trends.