Art

Auction Highlights: Art Market’s Enduring Stars

Discover how top artists like Mondrian, Monet, and Basquiat shine in a transforming art market, defying cooler trends with record sales and fierce bidding.

Por: Angela Leon Cervera
Art Market Trends
Modern & Contemporary Evening Auction. Photo: @sothebys

The art market is a fascinating blend of enduring value and shifting tides. While headlines sometimes suggest a cooling trend, recent auction results paint a more nuanced picture.

 

Masterpieces and top-tier contemporary works continue to command impressive prices, proving that exceptional art remains a hot commodity, even as broader market dynamics evolve. Join us as we dive into the sales that are shaping the discourse, revealing how certain artists consistently triumph amidst change.

 
 

In this dynamic environment, understanding what drives success at auction is key. It’s not just about the name on the canvas; it’s about the quality of the work, the intensity of bidding, and the strategic positioning of pieces in a global arena.

 

From the timeless allure of modern masters to the explosive energy of contemporary icons, the market is a testament to art’s enduring power as both a cultural touchstone and a robust investment.

Monet Christie’s auction 2025​
Claude Monet’s ‘Peupliers au bord de l’Epte, crépuscule’ is a top highlight of the 20th Century Evening Sale. Photo: Christie's

How are Modern Masters Steering the Art Market?

Modern masters continue to be perceived as a secure investment in the art market. Their consistent performance underscores their resilience, even amid uncertain market conditions.

 
  • Piet Mondrian’s enduring appeal: Piet Mondrian’s Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue (1922) fetched $47.6 million at Christie’s New York in May 2025. This significant sale highlights sustained demand for De Stijl masterpieces, showcasing how established artists maintain value even when the broader market indicates “cooling” or “choppy” conditions.
     
  • Claude Monet’s bidding battles: Claude Monet’s Peupliers au bord de l’Epte, crépuscule (1891) sold for $42.9 million at Christie’s New York in May 2025. The painting sparked a nearly five-minute bidding war among three specialists, demonstrating exceptional demand and outperforming initial market expectations. This intense competition signals strong market confidence, which is critical for valuing a “very well-auctioned” piece.
Basquiat
Jean Michel Basquiat, UNTITLED, 1981. Courtesy of Sotheby's
Art Market Trends
Andy Warhol, Flowers, 1964. Photo: Sotheby's

What Makes Contemporary Art a Hot Commodity in the Current Art Market?

Contemporary artists, particularly those at the top tier, are consistently attracting multiple bidders, proving their lasting appeal. Even with a market showing signs of “cooling” or “stagnation,” works by these artists continue to achieve high prices and intense bidding.

 
  • Jean-Michel Basquiat’s consistent strength: Jean-Michel Basquiat’s Untitled (1981) achieved $16.3 million at Sotheby’s New York in May 2025, generating one of the longest bidding wars of the night. Another work, Untitled (1984), was a highlight at Phillips, selling for $6.6 million. Basquiat’s strong presence across major auction houses and the intense competition for his works underscore his status as a consistently “well-auctioned” artist.
     
  • Andy Warhol’s rare triumphs: Andy Warhol’s Flowers (1964) fetched $3.8 million at Sotheby’s New York in May 2025, more than doubling its high estimate of $1.5 million after triggering a bidding war. This sale demonstrates robust demand for specific Warhol pieces, especially those considered rare or unique, even as other works by the artist have been withdrawn due to discrepancies between seller expectations and buyer willingness.

How Do Market Strategies Influence Auction Success in the Art Market?

The art market is increasingly influenced by strategic financial tools and a broader recognition of diverse artists. These elements play a crucial role in shaping outcomes and fostering confidence among buyers and sellers.

 

  • The crucial role of guarantees: Guarantees and irrevocable bids have become essential tools in successful sales. For example, irrevocable bids contributed to a 94% sell-through rate at Christie’s. At Sotheby’s, Daniella Luxembourg’s collection, with 15 guaranteed works, 11 of which had irrevocable bids, saw every lot sell amidst strong bidding. These mechanisms reduce risk for consignors and signal confidence in the artwork’s value to potential buyers, often encouraging stronger competition.
     
  • The rise of female artists: A notable trend is the increasing number of female artists achieving auction records or significantly exceeding estimates.
     
    • New records were set for Dorothea Tanning ($2.3 million) and Remedios Varo ($6.2 million) at Christie’s.
       
    • Phillips saw Kiki Kogelnik ($355,600), Ilana Savdie ($228,600), Grace Hartigan ($1.6 million), Olga de Amaral ($1.2 million), and Barbara Hepworth ($457,200) all break records or far surpass their estimates. This trend signifies a deliberate market correction and growing recognition for artists who have historically been undervalued.
Art Market Trends
Remedios Varo. Vampiros vegetarianos. Photo: Christie's

The recent auction season underscores a dynamic art market, characterized by both resilience at the top and sensitivity in the middle tiers. While overall sales figures may reflect a cooling trend, the strong performances of Modern and Contemporary masters, bolstered by strategic financial tools and a growing appreciation for underrepresented artists, highlight areas of robust growth.

 

The market continues to adapt, driven by quality, rarity, and strategic selling, making it a continuously compelling space for collectors and investors alike.

Key information

  • Is the art market currently stable? The art market shows signs of a bifurcated trend: top-tier works by established masters and sought-after contemporary artists remain robust, while the broader market shows more price sensitivity and reduced liquidity.
  • What is an irrevocable bid? An irrevocable bid is a commitment from a third party to purchase a lot at a minimum price, providing a safety net for consignors and signaling confidence to other potential buyers.
  • Why are some art pieces selling below estimates? Some pieces may sell below estimates or fail to sell due to a "massive gap" between seller expectations and buyer willingness, or when works are less iconic or unique within an artist's oeuvre.
  • Are female artists gaining more traction in the art market? Yes, there's a notable trend of female artists achieving auction records and significantly exceeding estimates, indicating a market correction and growing recognition.
  • How do geopolitical factors affect the global art market? Geopolitical and economic factors, such as impending import/export tariffs, can influence where art is bought and sold, sometimes concentrating demand geographically and impacting liquidity and pricing.

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