While the global geopolitical and economic outlook remained somewhat hazy in 2025, markets largely absorbed the volatility and settled into a steady rhythm of adjustment – and the art world was no exception.

Christie’s has reported total global sales of US$6.2 billion across auctions and private sales, a 6% increase from 2024. Auction sales were particularly strong, rising 8% to US$4.7 billion, while private sales held steady at US$1.5 billion.

By category, 20th and 21st Century Art continued to lead with US$2.86 billion in auction sales. Luxury – spanning watches, jewellery, handbags, and wine – followed at US$795 million, while Asian and World Art came in third with US$351 million.

Regionally, Asia-Pacific buyers accounted for 23% of Christie’s global auction turnover, marking a slight dip from previous years. Within the region, Hong Kong was the top buyer market, followed by Mainland China and Taiwan.

Adrien Meyer (Global Head of Private Sales and Co-Chairman, Impressionist & Modern Art) auctioning Christie's top lot of 2025, Mark Rothko's No. 31 (Yellow Stripe), which sold for US$62.16 million

Christie’s 2025 Global Figures

• Total Sales: US$6.2 billion (+6%; 2024: US$5.8 billion)
• Auction Sales: US$4.7 billion (+8%; 2024: US$4.4 billion)
• Private Sales: US$1.5 billion (unchanged)
• Sell-Through Rate: 88% (2024: 86%)
• Hammer Price vs. Low Estimate: 113% (2024: 107%)
• Bids Placed Online: 81% (unchanged)
• Millennial & Gen Z Clients: 33% (2024: 30%)
   

Auction Sales by Category

• 20th & 21st Century Art: US$2.859 billion (+6%)
• Luxury: US$795 million (+17%)
• Asian / World Art: US$351 million (-6%)
• Classics: US$285 million (+15%)
• Cars (Gooding Christie’s): US$2.34 billion (+14%)
• Old Masters: US$182 million (+24%)
   

Editor’s Note: Gooding & Company, the US-based classic car auctioneer, was acquired by Christie’s in 2024 and rebranded as Gooding Christie’s.

Gooding Christie’s sales were up year-on-year by 14%

The Royal Blue set a world auction record for a Kashmir sapphire necklace at HK$125 million

New Buyer Demographics

• Luxury remained the main entry point for Christie’s new buyers (38%), followed by 20th/21st Century Art (33%)
• 63% of new buyers made their first purchase online, where the average price point rose 14% to US$22,700 (excluding wine)
• Across the business, new buyers from 2024 returned in 2025 and increased their purchase value by 54%, with 22% buying in a different category
• 46% of new bidders and buyers were millennials or younger (up 5%)
• The female client base grew by 10% across the auction business
   

Auction Sales by Region (Live & Online)

• Americas: US$2.584 billion
• EMEA (Europe, Middle East & Africa): US$1.435 billion (London: US$832 million; Paris: US$377 million)
• Asia-Pacific: US$686 million
   

Buyer Contribution to Global Auction Sales  

• Americas: 41% (2024: 42%)
• EMEA: 36% (2024: 32%)
• Asia Pacific: 23% (2024: 26%)

The Au Bak Ling single-owner collection sale was 100% sold

Rahul Kadakia, Christie's Asia-Pacific President, with Picasso's Buste de femme

Asia-Pacific Key Figures

• APAC accounted for 30% of global new buyer auction spend 
• APAC accounted for 40% of global Millennial/Gen Z auction spend
• The top three APAC buyer markets were Hong Kong, Mainland China, and Taiwan (with spend up 24%)
• APAC led global Luxury auctions, contributing 37% by spend; Luxury sales in Asia totalled US$250 million (up 9%)
• APAC buyers’ global spend on Asian Art increased by 22% 
• Asian Art sales in Hong Kong exceeded US$207 million (up 14%)
• Asia salerooms saw an average sell-through rate of 89%, with the overall hammer price reaching 116% over low estimates (up from 108%)
• In Asia salerooms, Mainland China was the top buying market, followed by Hong Kong
• Several prestigious private collections achieved standout results: Imperial Porcelains from an Important Private Collection (HK$162.6 million, 100% sold); the Ai Lian Tang and Au Bak Ling collections (both surpassing HK$100 million); and The John Shaw Patek Philippe Collection (HK$52 million, 100% sold)
   

Ni Zan's River Pavilion, Mountain Colours sold for nearly HK$160 million

Jean-Michel Basquiat's Sabado por la Noche (Saturday Night) sold for over HK$112 million
 

8 of the top 10 lots sold by international auction houses in Asia were sold by Christie’s:

• Pablo Picasso, Buste de femme | HK$197 million / US$25 million (Asia auction record for Picasso)
• Ni Zan, River Pavilion, Mountain Colours | HK$160 million / US$20.7 million
• ‘The Royal Blue’ necklace featuring 16 Kashmir sapphires totalling 104.61 carats | HK$125 million / US$16 million (World auction record for a Kashmir sapphire necklace)
• Jean-Michel Basquiat, Sabado por la Noche (Saturday Night) | HK$112.6 million / US$14.5 million
• Zao Wou-Ki, 17.3.63 | HK$85 million / US$11 million
• Blue and white ‘bamboo, rock and plantain’ vase, meiping | HK$78 million / US$10 million
• Blue and white ‘Dragon’ Vase, tianqiuping | HK$74.6 million / US$9.6 million
• ‘The Regent Kashmir’ 35.09 carat Kashmir sapphire ring | HK$74.6 million / US$9.5 million (World auction record price per carat for a sapphire of US$273,021)
   

Editor's Note: The remaining two lots in the top 10 were sold by Sotheby’s: Rao Jie’s Calligraphy in Cursive Script (HK$250 million) and Yoshitomo Nara’s Can't Wait 'til the Night Comes (HK$79.9 million).

A blue and white ‘dragon’ tianqiuping from the Yongzheng period sold for HK$74.6 million

Bonnie Brennan | Christie's CEO

Bonnie Brennan, Chief Executive Officer, Christie’s:

“The energy has returned to the saleroom, online, and across the market. We’ve seen renewed confidence worldwide, reflected in these outstanding results. Our selling performance has remained consistently strong throughout the year: a solid first half followed by an even more competitive second half, delivering exceptional, market-leading outcomes for our clients.

Across categories and platforms, 2025 closed on a high note, marking a healthy and successful year for Christie’s. These achievements also reflect our ongoing commitment to building a more sustainable and responsible culture throughout our business. I’m proud to lead this company and confident that, with the best team in the industry, we will continue driving progress into 2026.”

Rahul Kadakia, Christie’s President Asia Pacific and Head of Global Luxury and Asian & World Art Groups:

“Our diverse and relevant offering has continued to attract a new, younger set of buyers, especially in Luxury sales and notably among our clients from APAC who contributed 37% by spend to our global Luxury auctions.”