NEW YORK, NY.- Sotheby’s said it generated a record $4.4 billion in consolidated sales during the first half of 2026, a 58 percent increase over the same period last year, as major single-owner collections, private transactions and luxury categories drew strong demand from buyers around the world.
Auction sales reached $3.4 billion, up 59 percent, while private sales climbed 52 percent to an all-time high of $826 million. The auction house also reported a 90 percent sell-through rate, its strongest since at least 2010, and an average of 4.9 bidders for each lot sold. Collectors from 119 countries participated across 170 auctions.
Chief Executive Officer Charles F. Stewart said the results extended the momentum Sotheby’s began seeing in the second half of 2025. He pointed to broad demand across regions and categories, landmark single-owner collections and growth in private sales, as well as increased activity at Sotheby’s Financial Services.
The figures offer an optimistic picture of the upper end of the art market, where competition for works with strong provenance, rarity and quality remained intense despite broader economic uncertainty. Madeline Lissner, Sotheby’s Head of Global Fine Art and Major Collections, described the market as one “defined by conviction,” with experienced collectors actively pursuing opportunities across categories.
New York contributed $908.6 million during Sotheby’s marquee auction season, with a combined sell-through rate of 92.5 percent—the highest the company has recorded for a marquee series in the city. Works from single-owner collections achieved a 96 percent sell-through rate, including the collection of dealer and collector Robert Mnuchin, which realized $173 million.
London also delivered a historic season. The June marquee auctions generated $556.5 million, which Sotheby’s described as the highest total for any auction season staged in Europe. The result was led by Masterpieces from The Lewis Collection, which brought $406.2 million, exceeding its high estimate and becoming the most valuable single-owner auction held in the United Kingdom.
Design emerged as another major source of growth. The Collection of Jean & Terry de Gunzburg—Design Masters, the first single-owner design auction held at Sotheby’s new Breuer headquarters, totaled $96 million and became the most valuable design auction in United States history. Modern and contemporary works from the same collection brought the overall total to $157.6 million.
Among its standout lots was a group of 15 mirrors by Claude Lalanne, which sold for $33.5 million. The price set both a record for the artist and a new auction high for a work of design.
Sotheby’s first Old Masters season at the Breuer realized $94.8 million, led by an $18 million Rembrandt drawing that established an auction record for a work on paper by the artist. The company also reported white-glove sales—auctions in which every lot is sold—for South Asian art in New York and modern and contemporary art in Hong Kong.
In Asia, Joan Mitchell’s La Grande Vallée VII sold for $17.6 million, setting what Sotheby’s called a new benchmark for the most valuable work by a woman artist sold at auction in the region. In France, a Monet work achieved $12.1 million, a national auction record for the artist. Sotheby’s second sale in Saudi Arabia totaled $19.6 million and included a $2.1 million record for Saudi artist Safeya Binzagr.
The luxury division also posted strong growth. RM Sotheby’s first-half sales rose 61 percent, helped by the €16.7 million sale of a 1961 Ferrari 250 GT SWB California Spider during a €87 million Monaco auction. Sotheby’s said the event became the highest-grossing collector-car auction ever held in Europe.
Watch sales increased 64 percent, with a 90 percent sell-through rate. An important watches auction in Hong Kong generated $52.9 million, the highest total for a watch sale at Sotheby’s and, according to the company, the most valuable watch auction yet held in Asia. A major collection of vintage Cartier watches sold in full for a combined $17.2 million.
Jewelry sales rose 13 percent, led by a 10.02-carat Fancy Intense Blue diamond that sold for $8.7 million. Wine and spirits achieved a combined sell-through rate of 94 percent, while a bottle of Old Rip Van Winkle 20 Year Old Single Barrel whiskey sold for $162,500, establishing a record for a bottle of American whiskey at auction. A Clase Azul Día de Muertos bottle also set a tequila record at $35,000.
The company credited part of its increased public engagement to its move into the Breuer building at 945 Madison Avenue. Sotheby’s said the new headquarters attracted more than twice as many visitors as its former York Avenue location. The opening of Marcel, its new restaurant, in April expanded the site’s cultural and hospitality offerings.
Sotheby’s also strengthened its financial position during the period, completing an $825 million bond issuance to refinance existing debt. Sotheby’s Financial Services completed a separate $900 million securitization in January, which the company said was significantly oversubscribed.
Looking ahead, the auction house plans a number of major exhibitions and sales. These include a Fernando Botero selling exhibition in New York, South Asian art exhibitions in London and RM Sotheby’s largest-ever Monterey auction, with a low estimate of $314 million.
Beginning in October, Sotheby’s will offer Magnum Opus: A Private Collection of Exceptional Art and Objects Through the Ages, comprising more than 900 works across over 25 categories. The company will also stage the first auction devoted entirely to wines from Château Haut-Brion’s cellars in Paris.
