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A Very British Auction Season

In London, the £306 million Joe Lewis collection at Sotheby’s was a big shot in the arm—but a closer look at the results suggests the market is still treading water. Meanwhile, over at Christie’s, the Zabludowicz collection underscored the inescapable power of inflation.

Sotheby's Art Auction
Sotheby's Lewis Collection Evening Auction sale in London, June 24th, 2026. Photo: Rayan Bamhayan/Courtesy of Sotheby's
Marion Maneker
June 26, 2026

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This week’s sales in London were interpreted by some as London fighting back against Brexit. But that’s not really what’s going on. Sure, the U.K. arms of the auction houses are taking a page from their New York cousins and focusing on big-name collectors whose taste and reputations can drive attention. But a closer look at the numbers suggest the market is still treading water, even if the sales were able to drive attention back toward London as a tastemaking capital of the international art market.