After two consecutive years of market slowdown, the global art auction market showed renewed strength in 2025, with Christie’s and Sotheby’s both reporting higher projected revenues, fueled by luxury goods, trophy artworks, and a steady rise in private transactions. Strong Year-End Numbers Signal Market Recovery Sotheby’s emerged as the year’s top performer, projecting $7 billion …
Christie’s and Sotheby’s Close 2025 on a Strong Note as Luxury and Private Sales Drive Growth
After two consecutive years of market slowdown, the global art auction market showed renewed strength in 2025, with Christie’s and Sotheby’s both reporting higher projected revenues, fueled by luxury goods, trophy artworks, and a steady rise in private transactions.
Strong Year-End Numbers Signal Market Recovery
Sotheby’s emerged as the year’s top performer, projecting $7 billion in global sales, marking a 17% increase compared to 2024. Public auctions accounted for $5.7 billion, up 26% year-on-year, supported by a robust November season in New York. A standout moment came with the sale of a Modern art masterpiece for $236.3 million, setting a new auction record and underscoring renewed collector confidence.
Christie’s followed closely with $6.2 billion in total projected revenue, representing a 6% annual increase. Public auction sales reached $4.7 billion, up 8%, while the second half of 2025 proved particularly strong, delivering a 26% rise in overall sales compared to the same period last year—a momentum mirrored by Sotheby’s.
Neither auction house disclosed profit figures, as both remain privately owned.
Private Sales Continue to Play a Key Role
Private transactions remained a vital revenue stream for both firms, reflecting ongoing demand for discreet, behind-the-scenes deals among high-value collectors. While private sales either stabilized or dipped slightly compared to last year due to stronger public auctions, they still represented 24% of total revenue at Christie’s and 17% at Sotheby’s.
Christie’s revealed that its three highest-value sales of 2025 were completed privately, highlighting the continued importance of this channel. Since 2019, private sales revenue has expanded significantly—Christie’s private transactions rose from $800 million to $1.5 billion, while Sotheby’s increased from $1 billion to $1.2 billion.
Luxury Categories Shine Again
Luxury goods once again proved to be a growth engine. Sales of handbags, watches, jewellery, and collectible assets climbed sharply after recent declines. Sotheby’s luxury category surged 22% to $2.7 billion, while Christie’s recorded a 17% increase to $795 million.
A major highlight for Sotheby’s came in December with its first Abu Dhabi Collectors’ Week, which generated $133.4 million across categories including automobiles, real estate, watches, jewellery, and handbags—signaling growing momentum in the Middle East market.
Art Categories Show Mixed Performance
At Christie’s, 20th and 21st century art remained the most valuable segment, rising 6% to $2.8 billion. The Old Masters category delivered the strongest year-on-year growth, climbing 24% to $182 million, boosted by a record-setting sale of a Venetian masterpiece during the summer.
The only category to see a decline was the combined Asian Art and World Art segment, which slipped 6%, alongside a 3% reduction in spending from Asia-Pacific-based buyers.
Confidence Returns to the Global Market
Christie’s leadership emphasized the renewed vitality across the art world, pointing to strong engagement both in physical salerooms and online. The company cited consistent performance throughout the year, with an increasingly competitive second half delivering standout results for clients.
Sotheby’s, which traditionally releases its full year-end breakdown later in the calendar, has yet to publish detailed regional and category-specific figures, though its overall performance confirms a strong market rebound.
Outlook
With luxury demand resurging, private sales remaining resilient, and high-profile trophy lots capturing global attention, both Christie’s and Sotheby’s enter 2026 with renewed optimism. The return of buyer confidence suggests the art market may be entering a new phase of stability and selective growth after years of uncertainty.
