New York Marquee auction sales fall to a 4-year low, but demand remains robust

New York’s Marquee evening sales at Sotheby’s, Christie’s and Phillips this May raised a total of $937.3 million, against the pre-sale estimate of $934.2 million to $1.33 billion. The results were 22% lower than May 2023 and 55% lower than May 2022, and was the lowest evening sales total registered since Autumn 2020.

Despite the overall year-on-year decline in sales, all the auction houses achieved high sell-through rates (average of 94%), which was carefully managed by auction guarantees and lot withdrawals.

About this report:

This report presents an in-depth comparative analysis of the Impressionist, Modern, Post-War and Contemporary art evening sales at Sotheby's, Christie's, and Phillips in New York in May 2024. The analysis also provides analytical tools looking at 10-year annual trends between 2015 and 2024.

Who is it for?

This report is popular among dealers, auction houses and collectors, who want to get an in-depth understanding of auction trends in the Impressionist, Modern, Post-War and Contemporary art auction market and follow the performance of the top auction houses this year. ArtTactic offers bespoke reports on Impressionist, Modern, Post-War and Contemporary artists and other market sectors. For further information and a quote please contact us at info@arttactic.com.

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