Christie’s, Sotheby’s, Phillips Target $2.6 Billion in Spring Sales as Trophy Art Returns
Updated
Updated · The New York Times · May 13
Christie’s, Sotheby’s, Phillips Target $2.6 Billion in Spring Sales as Trophy Art Returns
1 articles · Updated · The New York Times · May 13
$2.6 billion in art is slated to go under the hammer over the next two weeks, with New York’s spring auctions opening Thursday in what could be the strongest season in years.
Eleven lots are estimated above $50 million this month, up from just two in May 2025, as the houses assemble marquee works by Jackson Pollock, Mark Rothko and other blue-chip names.
Rising stock markets, wealthy collectors chasing proven masterpieces and consignments from estates tied to S.I. Newhouse, Agnes Gund, Marian Goodman and Robert Mnuchin are fueling the optimism.
The target still trails the $3.2 billion sold in comparable auctions in November 2022, but it is more than 60% above last May’s $1.6 billion high estimate after a stretch of weaker, uneven sales.
Is the art market's record-breaking season a true boom or a bubble fueled by financial guarantees?
As masterpieces vanish into private hands for record sums, what is the future of public access to great art?
When a Pollock sells for $100M, is it a cultural treasure or just another asset in a billionaire's portfolio?