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Signs of an Art Market Recovery

Buyers remain wary and sellers are greedy, but the latest New York sales hint at a new reality: We’re still far away from the 2022 boom times, sure, but palmy days lie ahead.

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Christies auctioneer
In the context of these New York midseason winter sales, the higher proportion of value concentrated in fewer lots suggests buyers are ready to spend again for specific works by specific artists—in other words, an isolated willingness to spend. Photo: Courtesy of Christie's
Marion Maneker
March 5, 2025

The art market has begun to heal. That’s the main takeaway from last week’s sales in New York, where $50.6 million worth of art works were sold for an average price of $95,000. In the end, 73 percent of the 530 lots offered were sold, with just under a quarter selling at prices above the estimate range. Meanwhile, about one-third had to be sold at compromise prices, where the consignor did not get bids to their estimates. 

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