The May New York marquee auctions have demonstrated that the art market isn’t simply strong or weak, it’s increasingly selective.

$2.5B in sales across the major houses, driven by exceptional single-owner collections and trophy works.

Ultra high-end of the market remains resilient for exceptional works which achieve exceptional results
$1.4B in marquee lots were backed by third-party guarantees
Provenance, rarity and quality attract fierce bidding and record prices
Works fresh to market continue to command premiums
Buyers remain disciplined and deeply selective
Strong sell-through rates for works in the $20,000 – $50,000 range with strong provenance, quality, appropriate estimates and when new to market
- Attracts the broadest buyer base
- First-time serious collectors
- Established collectors adding depth to their collection
- Larger pool of potential buyers

The May New York auctions reinforced a trend we’ve observed for several years: the current art market rewards rarity, quality, provenance and freshness to market. While headline-grabbing records suggest renewed confidence, the market remains highly selective, underscoring the importance of working with informed advisors and valuation experts to navigate these rippled waters.

Here are some highlights and surprises: