New York's marquee sales week could not have gone any better for Sotheby's, according to the HENI Auction Index.
Its first auction week in the Breuer Building, its new home on Madison Avenue, scored an A+ on the index which uses more than 10 metrics to measure a sale's success or otherwise.
Sotheby's held nine sales grossing almost $1.2 billion - 40% above the average of its comparable marquee sales - and also saw several artists' auction records tumble.
The highlight was Gustav Klimt’s Portrait of Elisabeth Lederer, from the collection of cosmetics heir Leonard Lauder, which went for $236.4 million with fees becoming the most expensive work of modern art to be sold at auction in the process.
It was a different story for Christie's which made solid progress but nowhere near their rivals' stand-out success.
Its six sales made $959 million and scored a B on the HENI Auction Index, an improvement on its C+ in May and in November 2024.
It was their best result for three years driven by works by Rothko, Picasso and Mondrian from the collection of Robert and Patricia Weis which accounted for $130 million in total sales when fees are added.
Both sets of results will be taken as a sign the market's recovery could be gaining momentum.
To read our in-depth review of how Sotheby's and Christie's fared in New York click here and here.