On Wednesday, Christie’s held its 20th/21st Century evening auction in London, which generated £63.8 million ($81.1 million) in sales. Despite the presence of renowned artists, most lots fetched hammer prices that fell below or near their low estimates, indicating a lack of momentum in the market.
In contrast to Sotheby’s London sales, which recently witnessed a record-breaking sale of a Klimt painting, Christie’s auction seemed to reflect the sluggishness observed at the New York auctions in May, where signs of a market correction were apparent.
Notably, several blue-chip artists such as Alberto Burri, Cy Twombly, and Louise Bourgeois experienced hammer prices below their low estimates. However, works by Edgar Degas, Damien Hirst, and David Hockney exceeded their high estimates. Additionally, contemporary artists like Diane Dal-Pra and Ahmed Mater saw their works sell above their estimates, setting new auction records. Keith Gill, Christie’s London head of Impressionist and modern art, emphasized that the sales results aligned with the company’s strategy of presenting unique artworks at suitable estimates, targeting works that clients had not encountered at auction before.
The auction primarily focused on portraiture, a thematic choice made in anticipation of the highly anticipated reopening of the National Portrait Gallery. However, the most successful sale of the evening was not a portrait at all. Signac’s pointillist landscape painting, “Calanque-des-Canoubiers-Pointe-de-Bamer-Saint-Tropez” (1896), achieved the highest estimate of the auction at £5.5 million–£8 million ($7 million–$10.1 million). With a final hammer price of £6.7 million ($8.5 million), or £8.02 million ($10.1 million) including fees, the artwork secured its place in the upcoming exhibition “Symphonies of Color: Signac and Neo-Impressionism” at the Museum Barberini in Potsdam, Germany, in 2026.
Another notable sale was Jean-Michel Basquiat’s 1984 tribute to Picasso, “Untitled (Pablo Picasso),” which had a guarantee. The winning bid of £6.46 million, including fees, narrowly missed the high end of its estimated range of £4.5 million–£6.5 million.
Cecily Brown’s “Kiss Me Stupid” had an estimate of £3 million–£5 million, but it sold for £2.9 million, just below the lower estimate, or £3.549 million with fees. Interestingly, this oil painting previously appeared at auction in 2008 at Sotheby’s in New York with an estimate of $800,000 to $1 million. “Kiss Me Stupid” secured the third-highest selling price among the 68 lots presented.
The auction witnessed enthusiastic bidding for works by artists such as Diane Dal-Pra, Sahara Longe, Louis Fratino, and Victor Man. Dal-Pra’s surrealist figurative portrait, “It Belongs to You,” set a new world auction record for the French artist, fetching £113,400, including fees, well beyond its estimated range of £30,000–£50,000. Similarly, Sahara Longe’s self-portrait, with an estimate of £40,000–£60,000, sold for £113,400 with fees.
The energy continued with Fratino’s portrait painting, “Listening to a Conch,” which realized a price of £201,600 with fees, more than three times its high estimate of £60,000. Victor Man’s work “Weiltinnenraum (World Within)” surpassed its estimate range of £100,000 to £150,000. With intense bidding and 25 participants, Christie’s deputy chairman and head of postwar and contemporary art, Sara Friedlander, secured the winning bid at a final hammer price of $1.4 million. The artwork sold for over £1.7 million, including fees, setting a new world record for the artist.
The Gerald Fineberg Collection, featured in the Christie’s auction, showcased three notable works: Kazuo Shiraga’s painting “Choryo (Jumping Dragon),” Cy Twombly’s untitled piece from 1956, and Josef Albers’ “Study for Homage to the Square” from 1972. Albers’ artwork fetched £869,400 with fees, while Shiraga’s painting achieved a hammer price of £1.2 million ($1.52 million) or £1.49 million ($1.9 million) with fees. Twombly’s untitled piece reached the same sales price.
Saudi artist Ahmed Mater achieved an auction record with his photograph “Magnetism (Triptych).” The piece, estimated at £50,000 to £70,000, received a successful hammer bid of £150,000, or £189,000 with fees.
On the other hand, Louise Bourgeois’ golden headless sculpture, “Nature Study,” had an estimate of £800,000 to £1.2 million but fell short, selling at a hammer price of £450,000, or £567,000 with fees.
The final auction lot, Damien Hirst’s “Love Will Never Die” from 1999, attracted significant interest. The bright red canvas featuring butterflies and household gloss had an estimate of £250,000 to £350,000. After an intense three-minute bidding war, Christie’s senior vice president Emily Kaplan secured the winning hammer bid of £425,000, or £535,500 with fees. The room erupted in applause at the conclusion of the sale.
Despite the inclusion of prestigious artists and high-profile lots, Christie’s London auction failed to generate the expected momentum. While some artworks exceeded their estimates and set new records, many blue-chip artists’ works fell below their low estimates. The auction’s focus on portraiture in anticipation of the National Portrait Gallery’s reopening added an intriguing thematic element to the event. However, the overall performance suggested a market correction, aligning with the slow action observed during the New York auctions in May.
Christie’s remains committed to presenting unique artworks and attracting clients with fresh offerings. As the art market continues to evolve, auction houses must adapt their strategies to navigate shifting trends and collector preferences.
