Market News

November New York Auctions Bring in $1.29 Billion, on Par With May Sales But Half of Last Year’s Total

The Sotheby's sale room this November.COURTESY SOTHEBY'S

The Sotheby’s sale room this November.

COURTESY SOTHEBY’S

The fall sales in New York totaled $1.29 billion this year, a mark slightly higher than last May’s $1.2 billion figure but down significantly from this point a year ago. While unadorned sums may not be the only indicator of market strength—and simply stating figures does not account for the fact that, unlike last November, there was no special curated sale at Christie’s or one-off event akin to Sotheby’s Alfred Taubman collection sale—it appears we are still in the midst of a contraction.

Christie’s posted a net haul of $618.1 million, a total that bested that of its rival Sotheby’s, which brought in $555.3 million. Christie’s edged Sotheby’s overall by virtue of a big performance on the Impressionist and modern front; an unexpectedly impressive day sale on Friday put Sotheby’s ahead in the contemporary, after the two houses posted near-identical totals for their postwar evening sales.

Phillips showed dramatic improvement compared to past seasons, even if the total isn’t quite in the ballpark of its more established adversaries. A pair of sales netted Phillips  $121 million, more than double its total from May.

The sales return to New York in May, timed to coincide with Frieze New York. Below are the results for each individual sale, along with links to our reports.

Total $1.29 billion

Sotheby’s total: $555.3 million

Christie’s total: $618.1 million

Phillips total: $121 million

Sotheby’s Impressionist and Modern Art Evening Sale: $157.7 million

Sotheby’s Impressionist and Modern Day Sale: $38.8 million

Christie’s Post-War and Contemporary Evening Sale: $277.5 million

Christie’s Post-War and Contemporary Day Sale: $61.5 million

Phillips 20th Century and Contemporary Art Evening Sale: $111.2 million

Phillips 20th Century and Contemporary Art Day Sale: $9.8 million

Christie’s Impressionist and Modern Evening Sale: $246.3 million

Christie’s Impressionist and Modern Works on Paper Sale: $10.5 million

Christie’s Impressionist and Modern Day Sale: $22.3 million

Sotheby’s Contemporary Evening Sale: $276.6 million

Sotheby’s Contemporary Day sale: $80.2 million

 

Copyright 2016, Art Media ARTNEWS, llc. 110 Greene Street, 2nd Fl., New York, N.Y. 10012. All rights reserved.


  • Issues