The article previews the upcoming May 2025 marquee art auctions in New York, led by Christie's, Sotheby's, and Phillips. Key consignors include the collection of late Barnes & Noble founder Leonard Riggio and his wife Louise, along with works from Anne and Sid Bass, Tiqui Atencio, Daniella Luxembourg, the estate of Barbara Gladstone, and the San Francisco Museum of Modern Art. Notable lots include Dorothea Tanning's 'Endgame' (est. $1M–$1.5M), Robert Motherwell's 'Elegy to the Spanish Republic No. 160' (est. $3.5M–$5.5M), and Andy Warhol's 'Big Electric Chair' (est. $30M). The article also reveals undisclosed consignors through research, such as the family of Harold and Gertrud Parker for the Tanning work and the Hess Art Collection for the Motherwell.
These auctions matter because they serve as a key barometer for the art market, which has been in a two-year soft period with global sales shrinking 12% last year, according to the Art Basel and UBS Global Art Market Report. The market faces additional headwinds from President Donald Trump's tariffs, which have disrupted shipping, tourism, and stock market stability. Collector buying activity at concurrent New York fairs remains uncertain, making the auction results critical for gauging market sentiment and the health of the high-end art trade.