Christie’s and Sotheby’s Boost 2025 Sales with Luxury Goods and Private Deals
In a significant turnaround, leading auction houses Christie’s and Sotheby’s have reported strong projected sales for 2025 after two challenging years. The uptick in revenue reflects a renewed confidence in the luxury goods market and robust private sales.
2025 Sales Projections for Christie’s and Sotheby’s
Sotheby’s anticipates a remarkable $7 billion in global sales for 2025, marking a 17% increase from $6 billion last year. This growth was significantly influenced by a record-breaking auction in November, where Gustav Klimt’s “Portrait of Elisabeth Lederer” sold for $236.3 million, the highest price ever for a piece of Modern art at auction. Public auction sales for Sotheby’s reached $5.7 billion, up 26% from the previous year.
Meanwhile, Christie’s projects total revenue of $6.2 billion, a 6% boost year-on-year. Public auction sales contributed $4.7 billion to this total, representing an 8% increase from the prior year. Christie’s reported a noteworthy 26% surge in overall sales in the second half of the year compared to 2024. Similarly, Sotheby’s experienced a 26% rise in second-half sales, reflecting a strong market recovery.
Private Sales Performance
Both auction houses have seen steady performance in private sales. Private sales now make up 24% of Christie’s total revenue and 17% of Sotheby’s. Despite the private sales not grabbing the media headlines like public auctions, they have proved lucrative. Christie’s has increased private sales from $800 million in 2019 to $1.5 billion in 2025. Sotheby’s private sales rose from $1 billion in 2019 to $1.2 billion in 2025.
Luxury Goods on the Rise
The luxury goods market has shown encouraging growth, with both houses noting significant increases in sales of high-end watches, jewellery, and handbags. Sotheby’s luxury sales surged by 22% to reach $2.7 billion, while Christie’s luxury category saw a 17% increase, totaling $795 million. Notably, Sotheby’s inaugurated its first Abu Dhabi Collectors’ Week in December, generating $133.4 million from various sales.
| Auction House | 2025 Projected Sales | Private Sales Growth | Luxury Sales Increase |
|---|---|---|---|
| Sotheby’s | $7 billion | $1.2 billion (from $1 billion in 2019) | 22% to $2.7 billion |
| Christie’s | $6.2 billion | $1.5 billion (from $800 million in 2019) | 17% to $795 million |
According to Christie’s Chief Executive Bonnie Brennan, the auction market is witnessing a resurgence. She stated, “The energy has returned to the saleroom, online, and across the market. Our selling performance has remained consistently strong throughout the year.”
As both auction houses gear up for 2025, the robust recovery in the luxury goods segment and increasing private sales indicate a promising future as they navigate the evolving market landscape.
