The May sales of Impressionist, modern, and contemporary art in New York totaled just under $1.2 billion during what was hailed as a “gigaweek,” with all the auctions stuffed into a six-day period. But the total was a far cry from last November’s $2.33 billion haul—about double this May’s sales total—and less than half of the record-breaking $2.7 billion total last May.
The auction world duopoly continued amid the slowdown. Christie’s posted a total of $657.7 million, edging out its rival Sotheby’s, which brought in $483.6 million.
Perennial bridesmaid Phillips totaled $57.1 million over the course of two sales.
All three houses saw their totals for the spring sales drop dramatically from the auctions in New York in November, as specialists curated modest sales lacking in blockbuster lots to reflect a cooling market and more selective bidding.
The sales return to New York in November. Click below for individual reports.
Sotheby’s Impressionist and Modern Day Sale: $41.9 million
Phillips 20th-Century and Contemporary Art Day Sale: $10.5 million
Christie’s Postwar and Contemporary Day Sale: $82.7 million
Sotheby’s Contemporary Day Sale: $54.2 million
Christie’s Impressionist and Modern Works on Paper Sale: $10.5 million
Christie’s Impressionist and Modern Day Sale: $24.9 million