OGP | Collectors' Recommendations
Jun 25, 2025
On June 24, 2025, the Sotheby’s London Modern & Contemporary Evening Auction was held as scheduled, presented by The Ritz-Carlton Yacht Collection. The auction spanned the development of art from the inception of Impressionism to contemporary times, featuring highlights by renowned artists such as Claude Monet, Pablo Picasso, Tamara de Lempicka, Jean-Michel Basquiat, and Jenny Saville. British female artist Marlow Moss also set a new personal auction record.
A total of 48 lots were offered, with a sale total of £62.5 million (approximately USD 84 million), falling within the estimated range of £55 million to £74 million. The sell-through rate was 83%, slightly lower than the £77 million achieved during the same period in 2024. Pre-sale expectations were generally conservative due to the overall downturn in the art market, Christie’s cancellation of its concurrent London evening sale, and cautious collector sentiment. Nevertheless, the auction achieved stable results, indicating that high-net-worth collectors are actively purchasing top-tier works through private sales—such as the rumored "USD 100 million Basquiat" which reportedly changed hands privately.
Female artists performed notably well. Although they accounted for only 13.5% of the total lots (7 out of 48), works by female artists represented 30% of the total sale value, reflecting strong market interest.
The pre-sale atmosphere was subdued and the audience appeared sparse, yet phone bidding was active, with enthusiastic participation from American and Asian collectors. Sotheby’s executives expressed that they were “very pleased” with the results and emphasized that their decision to retain the summer London auction had been “validated by the market.” At the same time, the auction market remains in a period of adjustment, with many high-value works quietly changing hands through private transactions, which have become a mainstream trend. While the evening sale results were not dazzling, achieving USD 84 million under current market sentiment is no small feat, demonstrating the continued resilience of the high-end art market.