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The Old Masters vs. Everything Else

As the London sales proved yet again, there’s a value gap between the best and the rest. Desire is the differentiator, with deeply covetable, exceptional works setting record prices, while much of everything else struggles to meet the reserve.

The Old Masters Evening Sale at Christie’s at King Street, London.
Overall, the sales met expectations for the big auction houses, thanks in part to a handful of particularly sought-after works that went for multiples above their estimates. Photo: Christie's Images Ltd.
Julie Brener Davich
July 3, 2025

Across auction categories and price points, we’ve seen that today’s collectors are willing to bid high for the works they truly covet, and pass on those they can live without—a trend that was on display once again in this week’s Old Masters, antiquities, and decorative arts sales in London. Overall, the sales met expectations for the big auction houses, thanks in part to a handful of particularly sought-after works that went for multiples above their estimates.