Sotheby’s Contemporary Art Sales Rake in $282.9 Million

Blue-chip artists ranging from Ed Ruscha to Jean-Michel Basquiat aided the house in nearly reaching its high sales estimate.

By Angelica Villa For Artnews 22/05/2025

Sotheby’s three-part evening sale on Thursday in New York generated a total of $282.9 million on 68 lots, coming towards the high end of its $214.3 million to $311.4 million estimate. The result, while higher than a similar sale in November, was still a notable 18 percent drop from the equivalent sale last May, which generated $346.4 million.

That solid, if unspectacular, top result reflected the broader trend across this week’s marquee sales: strong demand for blue-chip works, and more cautious interest in younger and mid-career artists. Across two focused offerings and a broader contemporary sale, buyers bid aggressively for works with strong provenance or institutional appeal, but were more cautious elsewhere. (All quoted prices include buyer’s fees unless otherwise noted.)

Sotheby’s started the night with a focused 12-lot sale of works from the collection of influential gallerist Barbara Gladstone, who died last year. All 12 works, which hit the block without guarantees, sold, with eight of the lots exceeding their high estimates. The Gladstone sale totalled $28.1 million, just above the $26.1 million high estimate.

Two Richard Prince paintings carried the sale’s weight financially, bringing in $11.4 million with fees, constituting around 40 percent of the first sale’s total. Prince’s 2002–2003 painting Man Crazy Nurse, however, sold for a shade under $6.1 million—well below the $18.4 million record for a “Nurse” series work, set at Sotheby’s Hong Kong in 2021.

The Gladstone sale was followed by a 15-work, all-guaranteed sale from renowned dealer Daniella Luxembourg, with a strong focus on postwar Italian artists, particularly those linked to Arte Povera. That sale provided the most fireworks, with sales moving swiftly and at high levels.

The opening lot of the Luxembourg sale, the Lucio Fontana sculpture Concetto spaziale (1962–1963), sold for $1.2 million to a bidder in the room, over six times its $273,600 high estimate, with five bidders pursuing the work. Two lots later, Michelangelo Pistoletto’s 1969 mirror painting Maria Nuda, an image of a reclining brunette girl, provided one of the most competitive moments of the evening. After a five-minute bidding war between eight bidders, the work sold for $4.1 million, more than double its $2.3 million high estimate.

“That deserves a round of applause, doesn’t it?” auctioneer and Chairman of Sotheby’s Europe, Oliver Barker, said, leaning over the rostrum, as the crowd clapped.

Michelangelo Pistoletto, Maria Nuda (1969).
Michelangelo Pistoletto, Maria Nuda (1969).BFA/Courtesy of Sotheby’s

Concetto spaziale, La fine di Dio, a 1963 oil and glitter painting by Lucio Fontana, was the highest seller in this group, achieving $22.0 million, squarely in the middle of its $18.2 million to $27.4 million estimate.

For Italian art dealer Mattia De Luca, who runs an eponymous gallery in Rome, the Luxembourg sale represented a unique opportunity to acquire truly rare works from artists like Fontana and Pistoletto.

“The Luxembourg sale really proved that top quality works will withstand these tough times in the art market,” De Luca told ARTnews. “When the quality is high, and the works are priced well with the estimate—which I think they were—they do well.”

Other notable results from the Italian session included Alberto Burri’s 1976 painting, which sold for $4.7 million with no published estimate, and Claes Oldenburg’s 1969 soft sculpture, which exceeded its $2.3 million high estimate with a final price of $3.0 million. A rare 1959 bandage-based piece by Salvatore Scarpitta sold for $1.6 million, below its high estimate of $1.8 million. Joseph Kosuth’s 1965 light piece sold for 289,000, above its $228,000 high estimate. A sculpture by Pino Pascali, estimated at $608,000 to 912,000, also drew strong interest and sold for $2.5 million, nearly triple the high estimate. Two Alexander Calder mobiles also exceeded estimates. Armada (1946), estimated at $7.6 million, sold for $8.2 million, while the 1948 work The Beetle brought in $6.4 million against a $6.1 million high estimate.

After the sale, Lucius Elliot, the house’s head of contemporary marquee sales, indicated that provenance was a key contributor to the success of the Gladstone and Luxembourg lots.

“At a time like this, and generally, people look at provenance as a signal of quality,” Elliot told ARTnews. “There is something to be said for the halo effect created by a collection, and the reassurance to know that you’re buying from someone who had such a long time and such a discerning eye to choose what it was they wanted to buy over all those years.”

The top price of the evening came during the Now sale for a 1981 Jean-Michel Basquiat oil stick on paper work that had been held in the same collection for 30 years. Estimated at $15.2 million and backed with a guarantee, the piece hammered at $20.8 million—more than 30 percent above its low estimate, landing at $24.9 million with fees.

Multiple Roy Lichtenstein works also performed strongly. Bonsai Tree (1993) more than doubled its low estimate of $2.3 million, selling for $6.4 million. Two other Lichtenstein paintings from 1988 and 1996 sold for $8.4 million and $7.4 million, respectively, both solidly within their estimate ranges.

Jean Michel Basquiat, Untitled (1981).
Jean-Michel Basquiat, Untitled (1981).BFA/Courtesy of Sotheby’s

But it was more valuable works by Ed Ruscha and Gerard Richter that appeared to be stabilising points in the night even as they met expectations. The former’s 1989 text piece That was then this is now hammered at its low estimate of $10.6 million, going for $12.2 million with fees, while a 1990 abstract painting by Richter reached $10.5 million, just below its high estimate of $10.6 million, after a prolonged round of bidding.

Andy Warhol’s 1964 work Flowers sold for $6.2 million, or more than double its $2.3 million high estimate. The bidding for that work started fast and furious with bidders in the room and on the phone, but then stalled out at around $4.7 million, where it hammered.

Meanwhile, another postwar figure proved to be one that collectors were betting on as her prices have climbed in recent years: Lee Krasner’s abstract canvas August Petals brought $7.9 million, in the middle of its $6.1 million to $9.1 million estimate. (The price ultimately was far below the current record for a Krasner painting at auction, which is $17.6 million.)

In the contemporary portion of the evening, newer artists delivered a more mixed showing. Danielle McKinney’s 2023 figurative painting Stand Still surged to a hammer price of 334,000, more than five times its $60,800 estimate—following competitive bidding between multiple Sotheby’s specialists on the phone. With fees, the total came just shy of 426,000. Similarly, Across the Place (2023) by Japanese painter Yu Nishimura, who recently joined the roster at David Zwirner gallery, jumped to a $486,400 hammer price, or $617,100 with fees. That was well above Nishimura’s previous auction record of 110,900, set at Christie’s New York in February, and more than six times the $76,000 low estimate. An untitled work by German artist Ernst Yohji Jäger sold for 289,600, more than doubling the artist’s record of 110,900, set last May at Christie’s New York.

Rashid Johnson’s Two Standing Broken Men (2018), made of ceramic tile and oyster shells, also exceeded expectations, selling for $2.7 million, above its $1.8 million high estimate. Iraqi painter Mohammed Samedi’s 2023 interior scene fared similarly, climbing from a $456,000 low estimate to a $684,000 hammer price, or $868,900 with fees.

In other moments, artists both young and old performed equally poorly, making it difficult to pin-point any defining trend. 41-year-old Kenyan painter Michael Armitage’s 2015 painting, estimated at $3.0 million to $4.6 million, sold for $3.6 million. A 1989 text piece by Barbara Kruger’s hammered for $943,000—just slightly above its $912,000 low estimate—though its $1.2 million total with fees was closer to the work’s high estimate of $1.2 million. Frank Stella’s Adelante, a “Running V” painting from 1964 deaccessioned by the San Francisco Museum of Modern Art, gained a few bids before hammering for $9.9 million, or $10.6 million with fees. That was a far cry from its $15.2 million low estimate.

“There were a couple of Stellas on the market this season and the performance for all of them was relatively consistent,” Sotheby’s Elliot said of the result. “Ultimately, these are very sophisticated, very cerebral paintings, and this one was also a very large painting.”

The final lot, a 1958 tempera painting by Jacob Lawrence, failed to sell, resulting in a rather awkward round of applause to close the evening.

23 of the 41 lots in the Now sale came with guarantees. Two paintings, one by Urs Fischer and the other by Cecily Brown, went unsold.

But to Elliot, the night had more positive trends than negative ones. He pointed to the overall depth of bidding both in the room and on the phone and the fact that two-thirds of the sale’s registrants were American.

“I think we’ll find that a lot of the bidders and buyers were American too,” he said. ”That’s particularly interesting with the Luxembourg sale, where the work was overwhelmingly European. It’s a testament to the fact that the market, which had softened, is on the way back up.”

Photo credits top: BFA/Courtesy of Sotheby’s

ADVERTISE WITH US

Subscribe to the Newsletter

Stay Connected

You may also like.

Omega Just Unveiled 9 Watches in Its New Constellation Observatory Collection

The line-up shows up a bevy of metals and colours, too, as well as two new calibres.

By Nicole Hoey 31/03/2026

Omega’s latest watch is in a universe of its own.

The Swiss watchmaker just unveiled its new Constellation Observatory Collection today, the next step in its Constellation lineage and the first two-hand hour and minute timepieces to ever earn Master Chronometer certification. And if you were paying attention to any of the dazzling watches spotted at the Oscars this year, you would’ve caught a glimpse of the new line already: Sinners star Delroy Lindo rocked one of the models on the Academy Awards red carpet, giving us a pre-release preview of the collection.

Developed at Omega’s new Laboratoire de Précision (its chronometer testing lab open to all brands), the collection houses a set of nine 39.4 mm watches. The watches underwent 25 days of scrutiny there, analysed via a new acoustic testing method that recorded every sound emitted from the timepiece to track irregularities, temperature sensitivities, and more in the name of all things precision. (Details such as water resistance and power reserve are also thoroughly examined.) This meticulous process is all in the name of snagging that Master Chronometer label, meaning that the timepiece is highly accurate and surpasses the threshold for ultra-high performance. The Constellation Observatory Collection has now changed the game, though, thanks to its lack of a seconds hand.

A watch from the Constellation Observatory Collection, with the Observatory dome on display. Omega

“Until now, precision certification has required a seconds hand,” Raynald Aeschlimann, president and CEO of OMEGA, said in a press statement. “The development of a new acoustic testing methodology has made that requirement obsolete. It is this breakthrough that has enabled us to present the Constellation Observatory, the first two-hand watch to achieve Master Chronometer certification.”

In addition to notching its place in history, the collection also debuted a new pair of movements: the Calibre 8915 and the Calibre 8914, each perched on a skeletonised rotor base. The former’s Grand Luxe iteration will appear on the 950 Platinum-Gold model in the collection, which offers up that base in 18-karat Sedna Gold alongside a Constellation medallion in 18-karat white gold with an Observatory dome done in white opal enamel surrounded by stars. The second Calibre 8915, the Luxe, will find its home on the other precious-metal models in the line, either made with the brand’s 18-karat Sedna, Moonshine, or Canopus gold seen across the case, the hand-guilloché dial, and, of course, the movement itself. (Lindo chose to rock the Moonshine Gold on Moonshine Gold iteration, priced at approximately $86,000, for Sinners‘s big night at the Oscars.) As for the Calibre 8914, it can be found in the collection’s four steel models.

 

Omega Constellation Observatory Collection
A look at a gold case-back from the collection. Omega

Each model is a callback to myriad design features on past Omega models. That two-hand dial, for one, comes from the 1948 Centenary (the brand’s first chronometer-certified automatic wristwatch), while the pie-pan dial (seen in various blue, green, and golden hues throughout the line) and that Constellation medallion caseback both appear on watches from 1952. The star adorning the space above 6 o’clock also harks back to 1950s timepieces from Omega. And to finish off the look, you can opt for alligator straps in a variety of colours, or perhaps a gold iteration to match the precious-metal models; the brick-like pattern on the 18-karat Moonshine bracelet was also inspired by Omega watches from the ’50s.

We’ll have to keep our eyes peeled for any other Constellation Observatory timepieces (or any other unreleased models from the brand) at the rest of the star-studded events headed our way this year—perhaps the Met Gala?

Stay Connected

Inside Loro Piana’s First Sydney Boutique

A first Australian address brings the Italian house’s textile-led approach to retail full circle.

By Horacio Silva 26/03/2026

On the fourth floor of Westfield Sydney, near the Castlereagh and Market Street entrance—in the space formerly occupied by Chanel—Loro Piana has opened its first Australian boutique. It is a significant address change for that corner of the mall, and a meaningful one for the Italian house, which has sourced Australian merino wool for decades but until now had no retail presence here.

The facade is understated—creamy, tactile, more about texture than theatre. Inside, the store unfolds across a single, expansive level divided into distinct men’s and women’s wings. The separation is clear without being heavy-handed: womenswear leads from soft accessories and leather goods into ready-to-wear, while menswear occupies its own assured territory, with tailoring and outerwear given proper breathing room. Footwear (supple loafers, luxurious slides, pared-back sneakers) is particularly strong, and the sunglasses are a quiet standout: mineral-toned frames with a disciplined elegance that feels entirely of the house.

That same restraint carries into the interiors, where the surfaces do much of the talking. Walls are wrapped in the company’s own linen and cashmere; carpets are custom, dense underfoot, softening the acoustics and the pace. Oak and carabottino wood add warmth without fuss; marble accents introduce a cool counterpoint. The effect is a composed space calibrated around material, proportion and restraint.

The Spring 2026 collection now in store underscores that sensibility. Silhouettes are elongated and fluid; cashmere, silk and featherweight merino move in sandy neutrals, creams and muddied earth tones, with flashes of marigold and pale turquoise breaking the calm. Tailoring is softly structured and projects confidence without aggression. Leather goods arrive in buttery skins that feel almost pre-lived, as though time has already worked its magic.

What distinguishes Loro Piana, particularly in a market that has grown noisier by the season, is its refusal to perform luxury in an obvious register. There are no oversized insignias telegraphing allegiance. Instead, the status is encoded in fibre count, in hand-feel, in how a coat hangs from the shoulder. It assumes the wearer knows and, crucially, does not need to announce it.

Sydney’s luxury landscape has matured in recent years; global houses no longer test the waters but commit to them. Yet Loro Piana’s arrival feels different. It is not trend-driven expansion but material logic. For a country whose sheep stations have long contributed to the house’s fabric story, this boutique reads almost as a thank-you note written in cashmere.

 

Photography: Courtesy of Loro Piana.

 

 

Stay Connected

This Stylish, Water-Resistant Dopp Kit Might Be the Last One You Ever Buy

Patricks’s limited-edition wash bag is designed to keep liquids in and out, so it can come along wherever your travels take you.

By Justin Fenner 11/03/2026

If all you’re going to do is look at it, a leather Dopp kit from a fashion house is a fine choice. But if you take travelling seriously—and do it often, for business, pleasure, or both—such a bag will inevitably end up blemished with droplets of water or stained by errant flecks of toothpaste. Get stuck with a cavalier team of baggage handlers, and it can even get soaked in your favourite fragrance or anti-ageing serum.

But Patricks, the high-performance Australian grooming brand stocked in Harrods and Bergdorf Goodman, has a solution. Its limited-edition bathroom bag, called BB1, is purpose-built to protect everything inside and out. Conceived by industrial designer George Cunningham with brand founder Patrick Kidd, the cuboid design is executed in a water-resistant recycled nylon you can rinse clean. It’s lined with a thin layer of shock-absorbing foam to safeguard your products, but if a bottle somehow gets cracked in transit, the two-way water-resistant zippers and sealed seams (which keep liquids from seeping in or out) ensure that whatever leaks won’t ruin your cashmere. Inside, two dual-sided zippered compartments are ideally sized to fit toothbrushes, razors, and other small essentials.

And though its clean lines and rugged construction make it undeniably masculine, its greatest feature is borrowed from women’s makeup bags. Like the best of these, BB1 unzips to lie flat, giving you unobstructed access to everything inside. Well, you and the 999 other gentlemen who move fast enough to snag one. $289

Courtesy of Patricks

1. Hanging Loop 

The G-hook system isn’t just a stylish handle: You can also use it to hang the bag from a hook or secure it to your carry-on.

2. Two-Way Zipper

The closures are water-resistant in both directions, meaning liquids won’t get in or out.

3. Fold-flat Construction

BB1 opens to 180 degrees, letting you scan its 4.2-litre capacity at a quick glance.

4. Technical-Fabric Shell

The durable recycled-nylon is easy to maintain and woven to survive splashes and leaks from your go-to products.

Stay Connected

You Can Now Place Bets on the Future Prices of Rolex Models

And which models will get discontinued next, thanks to a new collaboration between Kalshi and Bezel.

By Nicole Hoey 11/03/2026

You can bet on pretty much anything these days, from when Taylor Swift and Travis Kelce will get married to who will be the next James Bond—and now that includes the Rollies on your wrist, or on your wishlist.

Prediction market platform Kalshi, regulated in the U.S., and luxe watch marketplace Bezel have teamed up on a new platform called Watch Futures that allows users to splash down cash on where they think the prices of a particular luxe timepiece are going, whether that’s a Rolex Submariner or a coveted Patek Philippe, Time & Tide reported.

You can also place a wager on which models might be discontinued, as well as any future launches from the top watchmakers on the new platform; with Watches and Wonders coming up, it’s certainly a well-timed launch that could see a lot of activity as a slew of new releases are announced at the event.

Watch Futures is all based on Beztimate, Bezel’s system (once used only internally) to help it accurately calculate the market price of a timepiece. It draws data from real-time transactions, live bids, verified sales, and other market offers to spawn its own series of independent valuation models to establish a watch’s value. From there, it’s up to bettors to place their wagers, and then the platform will showcase any price fluctuations or other updates as time goes on.

This new platform could have some pretty large implications for the watch industry.  As any horological savant would know, the internet and collectors alike are constantly chattering about which models are on the way out or when a certain timepiece of the moment’s time in the limelight will fade, of course, having a large impact on the prices of said model. And now, a Watch Futures user can have a direct stake in where a model is headed—and if they own said timepiece, it can be a protection from dwindling values on the marketplace, say, if a user places a bet on their model losing value and that actually comes to fruition.

To see Watch Futures in real time (and scope out how some pieces in your collection are faring), you can use the Kalshi app or its website.

Stay Connected

Mauve on Up

Brisbane boutique stay Miss Midgley’s offers a viscerally human experience—especially if you dig pink.

By Horacio Silva 17/12/2025

On a sun-bleached corner of Brisbane’s New Farm, where the scent of frangipani mingles with the clink of coffee cups, stands a building that has lived more lives than most people. Once a premier’s residence, an orphanage, a hospital and a private school, the 160-year-old stone structure now finds itself reborn as Miss Midgley’s—a boutique stay that teaches a masterclass in how to make heritage feel modern.

Designed and run by architect-mother-daughter duo Lisa and Isabella White, Miss Midgley’s captures the cultural confidence of a city in bloom. Nowhere is that new confidence more visible than along James Street—the leafy, slow-burn heart of the city’s fashion and dining scene—where Miss Midgley’s sits quietly at the edge, its shell-pink façade glowing in the subtropical light.

Built of Brisbane’s rare volcanic tuff, the building’s soft mauves and pinks are more than aesthetic; they are its identity. Locals still remember its 1950s incarnation as the Pink Flats, and the Whites have honoured that legacy with a contemporary blush-toned exterior, chosen to harmonise with the stone’s peachy undertones. Inside, those hues continue in dusty terracottas, russets and the faint shimmer of brass tapware. “Design can’t afford to be for the sake of fashion,” Isabella White has said. “It has to respond to what’s in front of you.”

That sentiment is tangible in every corner. Five apartments, each with their own idiosyncratic floor plan, occupy the building. Ceilings bloom with heritage plasterwork, 19th-century wallpaper fragments have been preserved in the kitchens, and tiny hand-painted notes left by the architects point out original quirks: a misaligned beam here, a hidden archway there. It’s a kind of adult treasure hunt for design lovers, where discovery feels personal and unforced.

Even the picket fence, a heritage requirement, has been reimagined in corten steel—a sly nod to regulation turned into sculpture. It’s this blend of reverence and rebellion that gives Miss Midgley’s its edge: heritage without starch, nostalgia without sentimentality.

True to Brisbane’s easy elegance, luxury here is measured not in marble or minibar but in proportion, privacy, and personality. Each apartment—from the Drawing Room and the Assembly Hall to the Principal’s Office—is a self-contained sanctuary with its own kitchen, large bathroom and outdoor space. The ground-floor units open onto leafy courtyards and welcome small dogs; upstairs, the larger suites spill onto verandahs shaded by jacarandas.

At the heart of the property lies a solar-heated pool hemmed with tropical greenery and fringed umbrellas—more mid-century Palm Springs than colonial Brisbane. Around it, guests share a petite laundry, a communal library and that rarest of urban luxuries: a car park per apartment. The atmosphere is quietly collegiate—a handful of travellers who might nod to each other on the stairs but otherwise inhabit their own creative bubbles.

The hotel’s namesake, Annie Midgley, lends the project both its name and its spirit. An ambidextrous artist and teacher, she famously instructed two students at once, writing with both hands simultaneously—a fitting metaphor for the dual vision the Whites bring to the building: one hand rooted in history, the other sketching toward the future. “Not famous, yet known,” goes the property’s understated tagline—and indeed, Miss Midgley’s has quietly become that most desirable of addresses: the one whispered about by people who know.

Sustainability isn’t an accessory here; it’s structural. The adaptive reuse of the heritage building is its boldest environmental act. Solar panels power the property; an electric heat pump warms the pool; recycled decking and tiles frame the courtyard. The metre-thick tuff walls regulate temperature naturally, and the amenities follow suit—refillable bath products, biodegradable pods, Seljak blankets spun from textile off-cuts, and compendiums wrapped in Australian-made kangaroo leather. It’s slow luxury in the truest sense.

In a world of carbon-copy hotels, Miss Midgley’s feels deeply human—a place where history isn’t curated behind glass but lives in the warmth of stone and the flicker of afternoon light. The lesson it offers is simple and resonant: that the most elegant modernity often comes not from reinvention, but from listening to what’s already there.

 

 Miss Midgley’s

Stay Connected