Art

Christie’s May Hammer Time: Did $489 M Signal a Comeback?

Christie’s May 12 auctions netted $489 M with fees. We break down Riggio’s Surrealist trove and the museum-grade 20th Century evening sale.

Por: Angela Leon Cervera
Christie's Auctions
Leonard & Louise Riggio: Collected Works. Photo: @christiesinc

After two nights of polite bidding during New York’s spring season, Christie’s May 2025 auctions roared out of the gate on Monday with a double feature: “Leonard & Louise Riggio: Collected Works” and a tightly edited 20th Century Evening Sale. Totals hit $489 million (with fees) against a combined low estimate of $446 million.

 

The mood? A cocktail of cautious applause, quick paddles, and the occasional phone streaming the Knicks game courtside-style. Here’s how the house managed to score solid—even if not jaw-dropping—figures in a jittery market.

Christie's Auctions
Art from the Bass House from the 20th Century Evening Sale. Photo: @christiesinc

Did the Riggio Collection Cash In on Surrealist Stardust?

Question: What Happens When Mondrian Meets Magritte in a Downsizing Park Avenue Loft?

 

  • Result: 38 of 39 lots sold, totaling $272 M with fees.

  • Centerpiece: Piet Mondrian’s Composition With Large Red Plane, Bluish Gray, Yellow, Black and Blue (1922) hammered at $41 M ($47.56 M with fees), just under its whisper‑target but still commanding Park Avenue reverence.

  • Surreal Spark: René Magritte’s L’empire des lumières repeated its 2023 price—$34.9 M—proving twilight streets and cobalt skies remain collector catnip.

  • Soft Spots: Stan Douglas’s A Luta Continua barely scraped $12.6 K (on a $60 K low estimate) despite a guarantee—evidence that conceptual photography feels chilly next to oil on canvas heat.

Verdict: Guarantees (all lots had them) delivered calm seas. No iceberg, no champagne fountain—just steady navigation through macro headwinds.

Christie's Auctions
Art from the Bass House from the 20th Century Evening Sale. Photo: @christiesinc

Can Monet & Rothko Still Set Pulses Racing?

  • Monet’s Peupliers au bord de l’Epte, crépuscule: hammered at $37 M ($42.9 M with fees). A sunset grove wasn’t record‑breaking, but it out‑shone every Impressionist since 2022.

  • Rothko’s No. 4 (Two Dominants): from the Bass House, snagged $37.8 M with fees—solid, if short of the $35 M “in the region of” hype.

  • Richter’s Korsika (Schiu): a contemplative seascape floated to $15.2 M with fees after a seven‑minute slog of $100 K increments—proof emotion sells serenity.

  • Firecracker Surprise: Frank Stella’s shaped‑canvas Firuzabad III soared past its high estimate to $3.17 M—a vivid reminder that color and scale still thrill.

  • Withdrawals & Whimpers: Two Warhol “Death and Disaster” canvases exited stage left mid‑sale; advisers blamed political gloom fatigue and a cooling Pop appetite.

Christie’s May 2025 auctions: Is Breadth the New Bravado?

Despite hammering at $181 M on a $194 M low estimate, the 20th Century sale (35 lots) showcased how careful curation beats quantity. Fifteen third‑party guarantees cushioned risk; yet buyers cherry‑picked emotion‑rich works, passing on clinical minimalism.

Christie's Auctions
Art from the Bass House from the 20th Century Evening Sale. Photo: @christiesinc

Christie’s May doubleheader didn’t chase skywriting records; it aimed for confidence. By leaning on guarantees, museum‑worthy provenance, and emotionally resonant imagery—sunset poplars, quiet seas, twilight lampposts—the house coaxed $489 M from a market preoccupied with tariffs and wildfires.

 

The lesson? In 2025, clarity trumps bravado: set realistic reserves, secure a safety net, and offer works that make collectors feel something other than anxiety. That formula may not set the night ablaze, but in a climate this foggy, a steady lighthouse beam is worth its weight in Mondrian red.

FAQ – Christie’s May 2025 Auctions

  • How did the hammer vs. premium totals compare? Hammer reached $409 M; premiums carried it to $489 M—evidence that fees, not bidding wars, padded the headline.
  • Why were the Warhols pulled? Christie’s cited consignor choice; advisors cite waning appetite for grim imagery amid turbulent news cycles.
  • Did guarantees dominate? Yes—every Riggio lot and 15 evening lots had guarantees, illustrating sellers’ appetite for downside protection.
  • Which record fell? Dorothea Tanning’s Endgame set a new high at $2.35 M, confirming sustained Surrealist momentum.
  • What’s the mood for upcoming day sales? Cautious optimism: mid‑range, aesthetically lush works (think lyrical abstraction, atmospheric figuration) are expected to shine.

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