Record-Breaking Auction Sales
In a remarkable display of confidence and enthusiasm in the art and luxury markets, auction sales surged by 26% year-over-year, reaching an impressive $5.7 billion. The acceleration in sales was particularly striking in the second half of the year, which saw a staggering increase of 59% compared to the same period in 2024. This growth reflects a robust demand for collectable assets, with private sales reaching a notable $1.2 billion, despite a slight decline from the previous year.
Strong Performances in Global Fine Art and Luxury Categories
Sotheby’s excelled in two key sectors: Global Fine Art and Luxury. Sales in the Global Fine Art category rose 15%, amounting to $4.3 billion, while the Luxury division saw an increase of 22%, totaling $2.7 billion. This marked the fourth consecutive year for the Luxury category to surpass the $2 billion threshold, underscoring its sustained appeal among collectors.
Charitable Contributions
Sotheby’s commitment to philanthropy was evident as the auction house raised an astounding $129 million for museums and charitable organizations through benefit auctions, private sales, and direct donations. This commitment not only supports the arts but also encourages engagement with the community.
Global Auction Participation and Demographics
Sotheby’s held over 450 auctions across nine countries, achieving remarkable metrics reflective of strong collector confidence. The company’s reach extended to bidders from 123 countries, boasting an impressive 87% sell-through rate, with an average of 4.5 bidders per lot and a remarkable 161% aggregate achieved versus low estimates—an increase from the previous year. Notably, 35% of bidders participated for the first time, with 17% of Global Fine Art bidders under the age of 40.
New Headquarters and Gallery Openings
November marked a significant milestone as Sotheby’s opened its new global headquarters in the Breuer building in New York City. This move completed a trifecta of new flagship gallery openings, following the launch in Paris in October and Hong Kong in June. The response to these spaces has been overwhelmingly positive; the Breuer’s inaugural exhibition attracted a record 25,000 visitors. The momentum continued into December’s Luxury Week, which saw nearly double the number of visitors from the previous year.
Expansion in the Middle East
Sotheby’s made significant strides in expanding its presence in the Middle East. In February, the company hosted its first international auction in Saudi Arabia, welcoming participants from 45 countries and drawing nearly one-third of buyers from the region. December saw the introduction of Abu Dhabi Collectors’ Week, marking Sotheby’s largest market entrance with sales totaling $133.4 million across various categories, including cars, real estate, watches, jewelry, and handbags.
Record Sales in Global Fine Art
This year marked a historic performance for Sotheby’s Global Fine Art division, with an influx of high-quality supply meeting record-level demand. The auction house led in significant categories, including Impressionist & Modern art, Design, Old Masters, Chinese Works of Art, and Single-Owner Sales. Notably, the Leonard A. Lauder Collection was sold, further establishing a record for the most valuable collection of the year for the sixth time in seven years.
Landmark Sales and Achievements
Sotheby’s also celebrated historic sales at its new headquarters, with six ‘white-glove’ auctions totaling an incredible $1.17 billion, which included the highest total ever for Modern art sold in a single week, reaching $843 million. Moreover, Gustav Klimt’s Bildnis Elisabeth Lederer (Portrait of Elisabeth Lederer) set a record for the highest value work sold at Sotheby’s, fetching $236.4 million.
Surrealism and Design Highlights
The demand for Surrealist art continued to skyrocket, illustrated by the inclusion of 23 Surrealist works in the Pauline Karpidas Evening sale. Paris also witnessed impressive results for Surrealist art, achieving totals 65% above low estimates. In the Design category, sales skyrocketed by 65% compared to last year, with the December Important Design sale achieving an unprecedented total, including the highest price for a design work at auction, Lalanne’s Hippopotame Bar, which sold for $31.4 million.
Stellar Performances in Luxury and Watches
Sotheby’s Luxury division recorded a record $2.7 billion in sales, fueled by prized items and market expansion. The Watches category had its best year ever, culminating in a white-glove result of $42.8 million during December Luxury Week. Notably, the complete four-piece set of the Patek Philippe Star Caliber 2000 sold for $11.9 million, becoming one of Sotheby’s most valuable watch sales.
Iconic Auctions in Fashion and Collectibles
Remarkably, Sotheby’s sold the most valuable handbag ever at auction, Jane Birkin’s Original Hermès Birkin, which went for $10.1 million. This was closely followed by her Le Voyageur, which became the second most valuable handbag. RM Sotheby’s also exceeded $1 billion in sales for the first time, achieving multiple records, including the highest price for a McLaren F1 road car and an extraordinary $11.5 million for the 2026 McLaren MCL40A.
Top Lots and Sales Performance
Sotheby’s showcased some exceptional items this year, with the top 10 lots sold globally including masterpieces by Gustav Klimt and Vincent Van Gogh, exemplifying the strong market demand for high-value artworks. The remarkable results from these sales not only underscore Sotheby’s reputed standing in the auction landscape but also highlight the ongoing interest of collectors worldwide.