""I think the last week is going to bring a lot of confidence back into the market," said Madeline Lissner, Sotheby's global head of fine art and major collections, in an interview with the online magazine Puck in November, after a mood-changing $2.2bn series of Modern and contemporary art auctions in New York. "I'm talking beyond auction, to the landscape of dealers and advisors,""
"Some spectacular numbers were achieved at these New York sales, thanks to prestigious consignments of museum-quality 20th-century art. At Sotheby's first series of major auctions at its new flagship Breuer Building, Gustav Klimt's 1914-16 portrait of Elisabeth Lederer was the star lot of the $527.5m Leonard A. Lauder collection, selling for $236.4m, the second-highest amount paid for a work of art at auction."
New York Modern and contemporary art auctions generated $2.2bn, led by museum-quality consignments that produced record and near-record prices. Notable results included Gustav Klimt's 1914-16 portrait selling for $236.4m, a Vincent van Gogh still life for $62.7m, a Frida Kahlo self-portrait for $54.7m, and a Mark Rothko from 1958 for $62.2m. The week restored buyer confidence among dealers and advisors and preceded strong sales reported at Art Basel Miami Beach. The total remained about 30% below the equivalent 2022 sales, while a wave of contemporary gallery closures continued through 2025.
Read at The Art Newspaper - International art news and events
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