Sotheby’s kicked off the spring auction season in London with a Modern and Contemporary Evening Sale that generated £131 million ($177.4 million) including fees. The auction saw a high 98 percent sell-through rate, bolstered by the sale of four significant works from the collection of financier Joe Lewis. The top lot was Francis Bacon’s 1972 "Self-Portrait," which fetched £16.03 million, while a new auction record was established for Leon Kossoff.
This result represents a significant year-over-year improvement, doubling the turnover of the equivalent sale in 2025 and signaling a continued recovery in the high-end art market. While still below the 2022 market peak, the strong performance of School of London masterworks suggests renewed collector confidence and a robust appetite for blue-chip provenance, particularly for works offered without third-party guarantees.