Christie’s has announced its global results for the first half of 2025, reporting US$2.1 billion in auction sales. The figure is roughly in line with the same period last year, while the auction sell-through rate rose slightly to 88%, up one percentage point year-on-year.
This marks the first earnings report under the leadership of Bonnie Brennan, who became Christie’s new CEO earlier this year. So what’s changed under her tenure so far – and how did each category perform in the first half? Here’s a closer look.
Bonnie Brennan became Christie’s new CEO earlier this year
Piet Mondrian’s Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue became the most expensive lot sold in H1 2025
Of the total US$2.1 billion in auction sales, US$167 million was generated from online auctions. Buyer activity by region broke down as follows:
- Americas: 45%
- EMEA (Europe, Middle East & Africa): 34%
- Asia-Pacific: 21%
Compared to the first half of 2024, results remained broadly stable, with modest gains across several key metrics:
- Total auction sales: US$2.1 billion | Same as last year
- Sell-through rate: 88% | Last year: 87%
- Hammer Price vs. Low Estimate Index: 115% | Last year: 111%
- Bids Placed Online: 80% | Last year: 82%
- Millennial & Gen Z clients: 31% | Last year: 29%
- Number of top 10 artworks sold by Christie’s: 7 | Last year: 6
Notably, Christie’s did not disclose private sale figures, which last year saw a 41% increase. The house stated that updated private sales results will be shared at year-end.
Leonard and Louise Riggio
Piet Mondrian | Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue, oil on canvas
Created in 1922 | 54 x 53.3 cm
Sold: US$47,560,000
Christie's New York | Leonar & Louise Riggio: Collected Works
Date: 12 May 2025
Among the top 10 highest-priced artworks sold globally in the first half of 2025, seven were sold by Christie’s, including the top four.
At the top of the list was Piet Mondrian’s Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue, which sold for US$47.6 million at the May New York sales. The work came from the private collection of Leonard Riggio, late founder of U.S. bookseller Barnes & Noble, and his wife Louise. That single-owner sale brought in US$272 million, the most important private collection sold this first half.
The second-highest price of the season came in early July at Christie’s London, when Canaletto’s masterpiece Venice, the Return of the Bucintoro on Ascension Day sold for US$43.9 million, setting a new auction record for the Venetian master and boosting Old Masters sales by 15% year-on-year.
Canaletto | Venice, the Return of the Bucintoro on Ascension Day, oil on canvas
86 x 138.1 cm
Sold: £31,935,000 (US$43.9 million)
Christie's London | Old Masters Evening Sale
Date: 1 July 2025
The third and fourth highest results were also achieved at the May 20th Century Evening Sale in New York. Claude Monet’s Peupliers au bord de l’Epte, crépuscule sold for US$42.96 million, followed by Mark Rothko’s No. 4 (Two Dominants) [Orange, Plum, Black] at US$37.79 million.
Around one-third of Christie’s H1 2025 auction sales were backed by third-party guarantees, in line with broader industry trends. While third-party guarantees can reduce auction house profit margins, they help ensure headline works don’t go unsold – a key consideration amid ongoing global economic uncertainty and tariff tensions.
Claude Monet | Peupliers au bord de l’Epte, oil on canvas
Created in 1950-51 | 170.2 x 139.1 cm
Sold: US$42,960,000
Christie's New York | 20th Century Evening Sale
Date: 12 May 2025
Mark Rothko | No. 4 (Two Dominants) [Orange, Plum, Black], oil on canvas
Created in 1891 | 100 x 65.1 cm
Sold: US$37,785,000
Christie's New York | 20th Century Evening Sale
Date: 12 May 2025
Breaking down auction sales by category, the results are as follows (figures in parentheses reflect year-on-year change):
- 20th and 21st Century Art | US$1.292 billion (-2%)
- Luxury | US$468 million (+29%)
- Asian / World Art | US$156 million (-28%)
- Classics | US$90 million (-32%)
- Old Masters | US$55 million (+15%)
The standout performer was Luxury, up 29% year-on-year – thanks in large part to the launch of Gooding Christie’s, the house’s new automotive auction division.
RUF CTR 'Yellow Bird' sold for US$6.05 million at Gooding Christie's in March
Christie’s acquired Gooding & Company, a specialist in classic car auctions, and rebranded it Gooding Christie’s. In H1 2025, the new division held one live and one online sale, generating US$68.9 million. Even excluding this, the Luxury category still rose by 12% year-on-year.
Jewels also delivered strong results, with Christie’s handling 9 of the top 10 highest-priced jewelry sales worldwide in H1 2025 – contributing to a 25% increase in the category overall.
The most talked-about lot was the Marie-Thérèse Pink, a 10.38-carat fancy purple-pink diamond ring, which sold for US$13.98 million in June at the New York Magnificent Jewels sale. Once part of Marie Antoinette’s personal collection, the diamond had remained in her family until it first entered the market in 1996.
The Marie-Thérèse Pink | A 10.38-carat fancy purple-pink diamond ring
Sold: US$13,980,000
Christie's New York | Magnificent Jewels
Date: 17 June 2025
Another major shift in 2025 was the return of Christie’s wine auctions to New York.
Having paused wine sales in the city in 2021 and moved them to Los Angeles, Christie’s returned to New York last month with a three-day auction of billionaire Bill Koch’s personal wine collection. All 1,500 lots sold, totaling US$28.8 million – making it the most valuable wine collection ever auctioned in North America.
CEO Bonnie Brennan later explained that the delay in returning to New York was due to state licensing requirements, which had taken time to resolve. Since 2017, Christie’s had partnered with wine retailer Wally’s to meet regulatory needs — under New York law, auction houses must hold a valid retail license to sell wine. Brennan’s comments may signal changes in that partnership going forward.
Billionaire Bill Koch’s personal wine collection totaled US$28.8 million
Reflecting on her first six months as CEO, Bonnie Brennan stated:
“In the first six months as CEO, my focus has been on ensuring continuity and a global commitment to our strategy. We have achieved strong results by concentrating on what we do best – selling exceptional art and objects and maintaining a focus on delivering extraordinary service.
From our leadership in 20th and 21st Century art to record-breaking moments in Luxury and Old Masters, Christie’s continues to deliver market leading results for our clients. With a stable, seasoned team driving innovation and results across categories, we have cemented our leadership in the market, and we are well-positioned for continued success in the second half of the year.”