The November auction season in New York delivered mixed results for Sotheby’s and Christie’s. There were stable performances from blue-chip artists and a new records set for emerging talent, but overall smaller consignments and private collections, and several high-profile lots which failed to meet expectations. Across seven major sales from November 18–21, the results reflected a market recalibrating to selective bidding and evolving collector tastes.
See also: The New York Marquee Sales: A Preview
Here are some of the highlights of this year's Marquee Week. All results are calculated with fees unless otherwise stated, and all estimates are calculated without fees.
November 18: Sotheby’s Modern Evening
Sotheby’s kicked off the season with the Sydell Miller Collection, which achieved $215.9 million (with fees) from 25 lots in a white-glove sale. Monet’s Nymphéas (1914–17) led the sale, fetching $65.5 million, surpassing its $60 million estimate. Other strong performers included Picasso’s La Statuaire (1925), which sold for $24.8 million—below its $30 million estimate.
See also: Three Major Works from the Harry F. Guggenheim Collection
Following this, the Modern Evening Auction achieved $92.9 million (with fees), falling short of its estimate range of $92.3 million to $135 million, with seven lots unsold. Franz Marc’s The Long Yellow Horse (1913), a standout piece from the Harry Frank Guggenheim Foundation, sold for a disappointing $4.3 million, against its estimate of $8–12 million. However, Tiffany Studios’ Danner Memorial Window set a new auction record, selling for $12.4 million.
November 19: Christie's 20th Century Evening
On November 19, Christie’s held two major sales, totaling $460 million (with fees). The highlight was the Collection of Mica Ertegun, which brought in $183.9 million (with fees). The star of the sale was René Magritte’s L’empire des lumières (1954), setting a record for the artist at $121.1 million. Other notable sales included David Hockney’s Still Life on a Glass Table at $19 million and Joan Miró’s Peinture (Amour) at $4.8 million.
See also: New Record for Magritte and Surrealism
The 20th Century Evening Sale achieved $302 million (with fees), led by Ed Ruscha’s Standard Station, the last large-scale 1960s piece by Ruscha in private hands, which set a new auction record for the artist at $68.2 million.
November 20: Sotheby’s Now and Contemporary Evening
Sotheby’s Now and Contemporary Evening Sales on November 20 brought in $112 million (with fees), led by Ed Ruscha’s Georges’ Flag (1999) at $13.8 million, above its $8 million to $12 million estimate. Meanwhile, Maurizio Cattelan’s Comedian (2019), the infamous banana duct-taped to a wall, became the season’s most talked-about lot, selling for $6.2 million to crypto billionaire Justin Sun.
See also: The Story Behind That $120k Banana
There were challenges: six lots were withdrawn and five went unsold, resulting in an 87.5% sell-through rate.
November 21: Sotheby's Contemporary Day
On November 21, Sotheby’s Contemporary Day Sale saw $9.2 million (with fees) from the sale of 31 Keith Haring subway drawings, surpassing their pre-sale estimate of $6.9 million. These works, from Larry Warsh's private collection, showcased Haring’s iconic street art style, created on vacant subway advertising panels in the 1980s.
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November 21: Christie's 21st Century Evening
Christie’s 21st Century Evening Sale on November 21 brought in $106.5 million (with fees) from 42 lots, within its pre-sale estimate of $78 million to $113 million. Although blue-chip artists like Haring, Kusama, and Hockney delivered the biggest results–including a record for a work on paper by Basquiat ($22.9m, below estimate)– the sale was largely dominated by emerging talent, with an impressive 11 new auction records. These included four records set in a row for Firelei Báez, Sasha Gordon, Denzil Forrester, and Ana Mendieta. There was also competitive bidding for a 2013 piece by Cecily Brown, who is one of the most expensive female living artists.
See also: The 10 Most Expensive Living Artists
A Market in Transition
Overall, the November auction season in New York revealed a market grappling with a shift in taste and buyer behavior. Sales were down compared to last year, with the evening auctions at Sotheby’s and Christie’s generating between 24% to 64% less than 2023 according to some estimates. But despite a more limited selection and weaker bidding on major lots, there were still strong results for works with cultural resonance—and, of course, more than a few attention-grabbing headlines, including that banana selling for over $6 million.
