New York Auction Week Hits $2.1 Billion, Led by Christie's

New York's spring auction week generated approximately $2.1 billion across evening sales at Christie's, Sotheby's, and Phillips, more than doubling the $1 billion total from May 2024. Christie's led with a $1.3 billion haul from 105 lots across three evening sales, including the $630.8 million S.I. Newhouse collection. Record prices included Jackson Pollock's Number 7A (1948) at $181.2 million, Constantin Brancusi's Danaïde (1913) at $107.6 million, and Mark Rothko's No. 15 (Two Greens and Red Stripe) at $98.4 million. Sotheby's netted around $737 million across 102 lots, with top lots including Rothko's Brown and Blacks in Reds (1957) at $85.8 million and Henri Matisse's La Chaise Lorraine at $48.4 million. Phillips achieved $115.2 million from 41 lots, its strongest New York spring sale since 2022, led by Andy Warhol's Sixteen Jackies (1964) at $16.2 million. Advisor Morgan Long noted an influx of new buyers with cross-category interests and that sellers are becoming more realistic about estimates. Despite signs of softness in every sale, no major house underperformed.