Auction sales fall 6% in the first half, raising fears for art market

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Since dealers, auctions and collectors think of a deeper crisis in the art market, auction sales are decreasing in a row in a row.

According to Arttacic, the auction sales at Sotheby’s, Christie’s and Phillips in the first half of the year fell to $ 3.98 billion with a 6% decrease in Christie’s and Phillips compared to the same period in 2024. The auction sum is at least the lowest level of the decade (leaving aside the 2020 pandema) and now 44% – or 3 billion dollars from 2022 – falls.

According to Arttacic, in recent decades, the main engine of the main growth of art auctions, the post -war and contemporary art has fell 19% more in the first half in recent years.

“Global economic growth, ongoing inflation and increased geopolitical tensions create a more cautious and more cautious investment climate.” He said. “These factors are likely to challenge the momentum of the market in the second half of the year because the industry is still adapted to a vague global landscape.”

However, the ongoing concerns are not visible in other areas of the economy of reserve. The prosperity of the rich is at record levels, the first 10% of Americans have added $ 37 trillion to their reserves since Covid, and indicates an increase of 45%. The stock exchanges increased by more than 20% in both 2023 and 2024 and rose again in 2025. Housing values and business values also increased and contributed to personal deying.

Yale Professor William Goetzmann lasted more than 300 years of the relationship between art prices and financial reserves and found that they were “high correlation”.

“The richness of the art collectors increases with the richness of art,” he wrote in his famous article “Tat, art and financial markets calculated for three centuries.”

However, at the highest levels of all time, Goetzmann said that the 300 -year correlation was broken. He said that there was one of the two explanations for attention: Either the decline in the art market will be a temporary deviation and this year or the next back, or the art market undergoes a more structural change.

“The question is, is there some kind of basic deviation from the social norm of the rich?” We don’t know yet. “

This fundamental deviation can be caused by the generation of generation in the reserve if it happens. The art market has been directed by Baby Boomers, who has built large art collections as it grew up in the 1980s, 90s and 2000s for decades. Most of these Baby Boomer collectors now buy less or smaller. And he is separated from properties with large collections to sell an increasing number, because his children often don’t want art.

At the same time, the new generation has grown in a digital world for thousands of years and genes – and may not have the same tastes or interest in the paintings of 20th century artists. Some experts who are expected to move from Baby Boomers to the next generations of over $ 100 trillion, say that the art market may show signs of structural change and a more existential crisis.

Auction houses are competing to adapt with more online sales, luxury products and lower priced offers. According to Arttacic, auction sales in the luxury category – including jewelry, handbags, wine, watches and sports memories – 1% grew in the first half.

Jewelery shines especially bright among young, female collectors because it shifts more of women. Jewelery and jewelry sales increased by 68% in the first half compared to a year ago. Online auctions, young collectors prefer to offer bids from their phones, they receive a rapid share of physical auctions.

Total auctional sales in Christie’s were largely stable in the first half thanks to online sales and luxury. Luxury sales, including classic cars, increased by 29% to 468 million dollars. Among the important points: Marie-Therese Pink Diamond was said to belong to Marie Antoinette, which was sold for $ 14 million, and “Blue Belle” fantasy Vivid Blue Diamond went to $ 11 million.

The brightness of jewelry and luxury goods also helps Sotheby’s, who sells the famous “Mediterranean blue” for $ 21.5 million in May after a violent bid war.

Young collectors are looking for strong demand for collections priced under $ 100,000 and the most competitive offer for jobs below $ 50,000. According to the Art Market, the highest end of the art market, according to Art Market report, fell by over 10 million dollars of more than $ 10 million.

Bonnie BrennanChristie’s CEO, in his statement to journalists, is that the auction’s house is to present the objects of the chief duty of the customers and to offer them at the right price – especially for new generation collectors. 80% of this year’s bids were online and about one -third of the winning offers came from Millennial or Gene Z buyers.

Brennan, “Young generation, thousands of years, we attach great importance to the gene z.” He said. He continued: “It is really critical to continue our business in the future.”