Art Market Rebounds with Record Spring Auction Season
Total sales across the major auction houses reached a five-year high, led by strong demand for post-war and contemporary works.
The spring auction season has delivered the art market's strongest results in five years, with total sales across the leading auction houses reaching an aggregate of $2.1 billion, driven by robust demand for post-war and contemporary works and a cluster of exceptional single-owner collections.
Standout results included multiple works achieving prices well above their high estimates, with a record set for a living sculptor whose work attracted competitive bidding from institutions and private collectors across three continents.
Analysts noted that the depth of bidding, particularly from Asian collectors re-entering the market, suggests a broader and more resilient recovery than previously anticipated.
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