Sotheby's Hits Record $4.4 Billion in First-Half Sales

In the first half of 2026, Sotheby's achieved unprecedented sales of $4.4 billion, marking a 58% increase compared to the previous year. Auction sales surged by 59% to reach $3.4 billion, while private sales soared to a record $826 million. The auction season in May and June generated $1.5 billion, primarily from single-owner collections. Sales in New York amounted to $908.6 million, boasting a 92.5% sell-through rate, which included $173 million from the Robert Mnuchin estate. June sales in London hit a record €556.5 million, driven by the $392.6 million Lewis Collection. CEO Charles F. Stewart attributed this success to relocating to the Breuer building on Madison Avenue, which significantly increased foot traffic. Other notable sales included the de Gunzburg design collection at $96 million and an $18 million Rembrandt drawing. Hong Kong sales reached $91.3 million, with Joan Mitchell's painting achieving a record $17.6 million for a female artist in Asia. Art sales alone totaled $2.3 billion, an 88% rise, while luxury sales also increased, with watches up 64%, collector cars 61%, and jewelry 13%. Additionally, Sotheby's secured $825 million through bond issuance and $900 million via securitization, reflecting strong investor confidence.