The art market realigns with a new reality as we head into 2025

The lingering effects of nearly two years of market contraction were still evident in this week’s series of Evening Sales at Christie’s, Sotheby’s and Phillips in New York. Total evening sales (excluding buyer’s premium) reached $906 million, marking a decline of 42% compared to last year’s November season, but only 3% below the results in May this year. There are signs the market’s tone is shifting, with 35% of lots exceeding their mid-estimates (up from 33% in November 2023), and several new artist records were set.

ABOUT THIS REPORT:

This report presents an in-depth comparative analysis of the Impressionist, Modern, Post-War and Contemporary art evening sales at Sotheby’s and Phillips in New York in November 2024. The analysis also provides analytical tools looking at 10-year annual trends between 2015 and 2024.

WHO IS IT FOR?

This report is popular among dealers, auction houses and collectors, who want to get an in-depth understanding of auction trends in the Impressionist, Modern, Post-War and Contemporary art auction market and follow the performance of the top auction houses this year.