Christie’s Bets on Asia, Luxury as Global Art Market Regains Footing
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Christie’s CEO Bonnie Brennan took the helm of the international auction house in February 2025.
The global art market is stabilizing in 2025 after a two-year downturn, as the return of sellers boosts supply of auction items, Christie’s Inc. CEO Bonnie Brennan said.
Brennan, who took the helm of the international auction house in February 2025, told Caixin in an interview last month that the company’s auction sales in the first half of the year indicated a recovery is underway. Christie’s booked $2.1 billion in global auction sales in the first six months of 2025, on par with the same period a year earlier.
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- The global art market is stabilizing in 2025 after a two-year downturn, with Christie’s reporting $2.1 billion in auction sales in H1 2025, matching the previous year.
- Christie’s luxury section sales rose 29% year-on-year to $468 million; Asia accounted for about 40% of new buyers, leading to expanded offerings in the region.
- Christie’s invested in technology and new categories, acquiring Gooding & Company and recording $128 million at a Pebble Beach car auction, with online participation at 80%.
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Who’s Who
- Christie's Inc.
- Christie's Inc., led by CEO Bonnie Brennan since February 2025, is seeing a recovery in the global art market. Their first-half 2025 auction sales hit $2.1 billion, matching the previous year. After a market contraction in 2024, Christie's is experiencing a return of sellers. Luxury item sales surged 29%, and Asia is a key market, contributing 40% of new buyers. The company is strategically using pricing, technology, and new categories like classic cars to attract a wider audience.
- Gooding & Company
- Gooding & Company was a classic car auctioneer, which Christie's Inc. acquired in September 2024. After the acquisition, it was rebranded as Gooding Christie's. An auction held by Gooding Christie's set a new record with a 1961 Ferrari selling for $25.3 million.
- Gooding Christie's
- Gooding Christie's was formed in September 2024 when Christie's acquired classic car auctioneer Gooding & Company. An auction by Gooding Christie's in August generated over $128 million, with a 1961 Ferrari setting a new record for the auction house at $25.3 million. This acquisition helps Christie's attract new collectors.
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What Happened When
- After 2021：
- The global art market experienced a strong post-pandemic rebound.
- After 2022：
- The global art market continued experiencing a strong post-pandemic rebound.
- 2024：
- The global art market contracted 12% year-on-year to $57.5 billion.
- 2024：
- Christie’s global auction sales fell 8% to $5.7 billion.
- 2024：
- 80% of collectors participated in online auctions.
- September 2024：
- Christie’s acquired Gooding & Company and rebranded it as Gooding Christie’s.
- February 2025：
- Bonnie Brennan became CEO of Christie’s Inc.
- First half of 2025：
- Christie’s booked $2.1 billion in global auction sales.
- First half of 2025：
- Christie’s luxury section auction sales jumped 29% year-on-year to $468 million.
- August 2025：
- Gooding Christie’s held an auction in Pebble Beach, California, bringing in over $128 million. A 1961 Ferrari 250 GT SWB California Spider Competizione sold for $25.3 million, setting a new house record.
- September 2025：
- Brennan gave an interview to Caixin where she discussed the company's auction results.
- September 2025：
- Christie’s held an auction preview in Hong Kong featuring works by Pablo Picasso and Zao Wou-Ki.
- Early November 2025：
- Christie’s will hold its first dedicated auction of Indian, Himalayan, and Southeast Asian artworks in Hong Kong.
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