Christie’s announced a projected sales total of $2.1 billion for the first half of 2025, matching its H1-2024 figure. While art categories like Impressionist, modern, and Old Masters saw modest growth—Old Masters sales rose 15% to $55 million—luxury categories (handbags, watches, cars, jewelry) surged nearly 30% to $468 million, now accounting for 22% of the total. Notable sales included René Magritte’s *La reconnaissance infinite* (1933) for £10.3 million and Piet Mondrian’s *Composition with Large Red Plane, Bluish Grey, Yellow, Black, and Blue* (1922) for $46.7 million. Guaranteed lots remained low at 1.5%, and the sell-through rate held steady at 88%.
This report matters because it signals a potential stabilization in the art market after a 22% decline in 2023, though the plateau is heavily driven by luxury sales rather than traditional art categories. Christie’s global president Alex Rotter emphasized renewed interest in 20th- and 21st-century art and a “psychological shift” among collectors, partly fueled by events like the Surrealism survey at the Centre Pompidou. The data also highlights Christie’s strategy of cross-category buying, with luxury segments recruiting 41% of new buyers, suggesting the auction house is diversifying its revenue streams amid broader market uncertainty.