Important collections propelling international art sales to new heights
A portrait of David Hockney by Andy Warhol at Christie's 20th century evening sale in New York next Tuesday (November 17).
The international art market is booming, though not indiscriminately. The catalyst this year has been important collections. In a world awash with money market offerings of hard to come by and rare museum quality art gathered over decades by wealthy and informed buyers propelled the market in 2026 to new heights.
Jackson Pollock's Number 7A 1948 from the collection of Condé Nast publisher S I Newhouse - one of the most important collectors of 20th century art - made $181.2 million at a $1 billion-plus night at Christie's in New York in May. This is the top lot sold at auction so far this year. It is anticipated that several artworks will smash the $100 million barrier at the major New York sales this month.
Other significant collections, like that of billionaire Joe Lewis who once owned Tottenham Hotspur, boosted the market and contributed to many record-breaking sales. June sales of Masterpieces from the Lewis Collection and Modern & Contemporary art at Sotheby's in London realised £420,488,006 across four auctions, the highest total for any season of sales ever staged in Europe. There were bidders from around the world and Asian collectors accounted for over one third of the value of the Lewis Collection sale.
An exceptional October season of 20th and 21st century art achieved €474 million across 13 auctions at Christie's in London and Paris. This amounts to a year on year increase of 67%. CEO Bonnie Brennan remarked that these results demonstrated the strength and demand for exceptional works and collections and the importance of Europe within the global art market. And last month Christie's scored its best Asian art season in Hong Kong since 2018 with sales of $129 million.
From Henry Moore to Artemisia Gentileschi and Jackson Pollock to Sir Edwin Landseer new world records were established in 2026 for numerous artists from all sorts of different schools and artistic periods.
Among them were Constantin Brancusi, Mark Rothko, Joan Miro, Alice Neel, Sir Thomas Lawrence and Kenneth Noland. There was a new European record for Amadeo Modigliani whose Nu assis au collier sold for £42.2 million at Sotheby's and new records for works on paper were established for a variety of artists, including Matisse.
The global art world was in mourning this year for Yayoi Kusama, who died aged 97 in August and David Hockney, who died in June aged 88. Kusama is the top-selling female artist of all time. Her retrospective at the Stedelijk in Amsterdam runs until next January 7. A career-spanning Hockney exhibition is scheduled to open at Tate Britain in October 2027.
The record for a painting sold by a female artist is held by Frieda Kahlo whose El Sueno (La Cama) - The Dream (The Bed) sold for $54.7 million at Sotheby's in New York last November.
A painting by Elizabeth Peyton of Oasis frontman Liam Gallagher kissing his brother Noel on the cheek sold for $1.9 million at Sotheby's Now and Contemporary evening auction in New York. Based on a photograph from two concerts at Earl's Court in 1995 the artwork contrasted their strained relationship with their unprecedented success and care and appreciation as siblings.
Online sales are growing everywhere and continue to be a conduit for new clients for the global auction houses. Blue chip artists attract bidders from around the globe. Huge growth is reported in sales at lower price points. In 2026 the art market is universal.
