ARTFEED — Contemporary Art Intelligence

New York Auction Season: Record Sales and Market Correction

market-auction · 2026-05-05

The 'Bound to Fail' auction hosted by Christie's in New York garnered $78.1 million, achieving a remarkable 97% sell-through rate. A record for Maurizio Cattelan was set when his piece 'Hitler' sold for $17.2 million, while Jeff Koons' 'One Ball Total Equilibrium Tank' brought in $15.3 million. Several artists, including Jean-Michel Basquiat, also reached new heights, with his 1982 self-portrait selling for $57.3 million. Meanwhile, Sotheby's Evening Sale recorded a 95.4% sell-through rate, highlighted by Cy Twombly's 'New York City' at $36.7 million. Overall, results fell short compared to last year due to market conditions, though Italian artists like Cattelan and Pivi excelled. Upcoming auctions in Milan will feature Sotheby's and others.

Key facts

  • Christie's 'Bound to Fail' auction totaled $78.1 million with 97% sold.
  • Maurizio Cattelan's 'Hitler' sold for $17.2 million, a record for the artist.
  • Jeff Koons' 'One Ball Total Equilibrium Tank' sold for $15.3 million.
  • Jean-Michel Basquiat's 1982 self-portrait sold for $57.3 million at Christie's Evening Sale.
  • Sotheby's Evening Sale achieved 95.4% sell-through, with Cy Twombly's 'New York City' at $36.7 million.
  • Overall results were lower than the same period in 2015, when Picasso's 'Les femmes d'Alger' sold for $179.4 million.
  • Italian artists including Cattelan, Pivi, Stingel, Burri, and Fontana performed well.
  • Upcoming auctions in Milan include Sotheby's, Wannenes, Il Ponte, and Dorotheum.

Entities

Artists

  • Maurizio Cattelan
  • Jeff Koons
  • Paola Pivi
  • Neil Jenney
  • Olivier Mosset
  • Daniel Buren
  • Rebecca Horn
  • John Armleder
  • Richard Prince
  • Bruce Nauman
  • Jean-Michel Basquiat
  • Agnes Martin
  • Mike Kelley
  • Kerry James Marshall
  • Barry X Ball
  • Mark Rothko
  • Christopher Wool
  • Clyfford Still
  • Cy Twombly
  • Francis Bacon
  • Sam Francis
  • Pablo Picasso
  • Alberto Giacometti
  • Rudolf Stingel
  • Alberto Burri
  • Lucio Fontana

Institutions

  • Christie's
  • Sotheby's
  • Phillips
  • Galerie Gmurzynska
  • Finarte
  • Wannenes
  • Il Ponte
  • Dorotheum

Locations

  • New York
  • United States
  • Zurich
  • Switzerland
  • Milan
  • Italy

Sources