New York auction sales double to $2.5B, driven by trophy collections and guarantees

In May 2026, art sales for Impressionist, Modern, and Contemporary pieces in New York soared to $2.5 billion, nearly doubling the $1.26 billion recorded in May 2025. This impressive total, spearheaded by Christie's, Sotheby's, and Phillips, exceeded both pre-pandemic figures and last autumn's $2.2 billion. Notably, seventeen artworks fetched over $20 million, with four surpassing the $50 million mark. Christie's achieved $630.8 million from the S.I. Newhouse collection, while Sotheby's garnered $166.3 million for Robert Mnuchin's collection. Highlighted sales included Jackson Pollock's Number 7A at $181.2 million and Constantin Brâncuși's Danaïde at over $107 million. Major lots had third-party guarantees covering 80-100%. Meanwhile, the middle market remains unpredictable, and preferences are narrowing for modernism from the 1920s to 1960s. A Modigliani piece was pulled from Christie's auction.