Christie's Achieves $2.1 Billion in Robust First Half of 2025
Christie's has announced a strong performance for the first half of 2025, with total auction sales reaching an impressive $2.1 billion. The results, marking a period of stability under new CEO Bonnie Brennan, were highlighted by several record-breaking sales and a notable shift in market demographics.
The auction house’s success was driven by a healthy sell-through rate of 88% and a modest increase in the Hammer Price vs. Low Estimate Index, which stood at 115%. These figures indicate consistent and confident bidding, even as the market adjusts to new dynamics.
Artistic Highlights and Record-Breaking Sales
The pinnacle of the season was the sale of Piet Mondrian's magnificent Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue, which fetched an astounding $47.6 million. This masterpiece from the Leonard & Louise Riggio Collection became the highest-priced artwork sold at auction in the first half of 2025.
Another major highlight was the new auction record set for Canaletto with the sale of Venice, the Return of the Bucintoro on Ascension Day. This classical masterpiece, once owned by Britain's first prime minister, Robert Walpole, sold for £31.9 million (approximately $43.9 million), reaffirming the enduring value of Old Master paintings.
Market Shifts: The Rise of a New Generation
One of the most significant trends identified in the report is the increasing influence of younger collectors. Gen Z and millennial buyers accounted for 31% of all transactions, a 2% increase from the previous year. This demographic shift signals a promising future for the art market, with new collectors driving demand across various categories.
Regional and Sectoral Performance
Regionally, the Americas led the market, contributing 45% of total sales. This strong performance underscores the region's continued dominance in the global art market.
By sector, the 20th and 21st-century art segment remained the largest contributor with $1.29 billion in sales. However, the most dynamic growth was seen in the luxury category, which surged by 29%, driven primarily by exceptional jewelry sales. Nine of the top ten high-value lots sold in the first half of the year were from the jewelry sector, underscoring the strong demand for rare and high-quality jewels.
A Look Ahead
As Christie's heads into the second half of the year, the house is well-positioned for continued success. The robust H1 results, combined with a focus on innovation and attracting a new generation of buyers, highlight Christie's leadership in the global art and luxury market.
For more information, visit the Christie's Press Centre and The Art Newspaper.
FAQ
Q: What were Christie's total sales for the first half of 2025? A: Christie's reported a total of $2.1 billion in auction sales.
Q: Which artwork achieved the highest price in H1 2025? A: Piet Mondrian's "Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue" was the top lot, selling for $47.6 million.
Q: How did the youth demographic contribute to the sales? A: Gen Z and millennial buyers accounted for 31% of all transactions, showing a growing interest from younger collectors.
Q: Which sales category saw the most significant growth? A: The luxury sales category, which includes jewelry, saw the most significant growth, surging by 29% and accounting for nine of the top ten high-value lots.