OGP | Collectors' Recommendations
Jul 25, 2026
Artlyst’s latest report shows that, following the downturn in 2025, the international art and luxury auction market experienced a significant recovery in the first half of 2026. Christie's and Sotheby's achieved a combined total turnover of US$8.9 billion during the period (Christie's: US$4.5 billion; Sotheby's: US$4.4 billion). Growth was recorded across public auctions, private sales, and art financing businesses, indicating that the high-end art market has re-entered an upward trajectory.
The two auction houses’ public auction sales increased by 71% and 59% year-on-year respectively, with sell-through rates exceeding 90% at both firms, demonstrating a strong recovery in buyer confidence. At the same time, the continued expansion of private sales reflects high-net-worth clients’ preference for greater privacy and transaction certainty.
The release of major private collections has been the primary driver of this market recovery. Major sales including the S. I. Newhouse Collection in New York, the Robert Mnuchin Collection, and the Lewis Collection in London achieved outstanding results, reaffirming the critical role of high-quality supply in stimulating market growth. Supporting these major offerings has been a more disciplined approach to valuation. Christie's Chief Executive Officer Bonnie Brennan noted that reasonable estimates can effectively stimulate competitive bidding, while today’s buyers have become more rational and significantly more price-sensitive.
The structure of the market is also undergoing profound transformation. While contemporary and modern art continues to maintain its dominant position, luxury categories such as watches, jewelry, automobiles, and memorabilia have shown strong growth, becoming key entry points for attracting younger collectors. At Christie's, 47% of new clients were Millennials and Generation Z collectors, and online bidding has become the mainstream method of participation. Sotheby's further noted that independent watchmakers are increasingly favored by younger collectors due to their craftsmanship and rarity. In addition, art finance is emerging as a new engine of industry growth. Sotheby's has optimized its capital structure through loan securitization and bond financing, while Christie's continues to expand its luxury asset financing services. For high-net-worth individuals, art-backed lending has evolved into an important tool for asset allocation and wealth management.
Overall, the market recovery in the first half of 2026 has been driven by the combined effects of renewed high-quality supply, more rational pricing strategies, the rise of younger collectors, and the continued development of art finance. Facing a complex global economic environment, both auction houses remain cautious in their outlook for the future.