The art market inaugurated 2025 with a series of auctions that, although not reaching the record figures of late 2024, highlighted interesting trends and consolidated the interest in both emerging and established artists.
Below is an overview of the ten most expensive works sold at auction in January 2025, with an analysis of their values and market trends.
1. Lights for the Layer by Christine Ay Tjoe
- Selling price: 2.1 million dollars
- Auction house: Sotheby’s Singapore
- Date: January 2025
The Indonesian artist Christine Ay Tjoe has reached the peak of January sales with this contemporary work. The result confirms the growing attention of the Asian market towards local artists of international significance.
2. Mount Chocorua, New Hampshire by Thomas Cole
- Selling price: 1.6 million dollars
- Auction house: Sotheby’s New York
- Date: January 2025
This landscape from 1827 has set a new record for Thomas Cole, highlighting a renewed interest in 19th-century American landscape art.
3. Fleurs by Pablo Picasso
- Selling price: 1.2 million dollars
- Auction house: Sotheby’s Diriyah, Saudi Arabia
- Date: February 8, 2025
This drawing on paper has far exceeded the initial estimate of 50-70 thousand dollars, reflecting the ongoing demand for Picasso’s works and the expansion of the art market into new regions such as Saudi Arabia.
4. Society Woman by Fernando Botero
- Selling price: 1 million dollars
- Auction house: Sotheby’s Diriyah, Saudi Arabia
- Date: February 8, 2025
Coming from the collection of Fernando Botero Jr., this painting reached the maximum estimate, demonstrating the enduring popularity of the Colombian artist.
5. Then What?? by Louay Kayyali
- Selling price: 900,000 dollars
- Auction house: Sotheby’s Diriyah, Saudi Arabia
- Date: February 8, 2025
This painting has set a new record for the Syrian artist, highlighting the growing interest in Middle Eastern art in the global market.
6. The Light Underneath by James Turrell
- Selling price: 660,000 dollars
- Auction house: Sotheby’s Diriyah, Saudi Arabia
- Date: February 8, 2025
The luminous work of Turrell has far exceeded the initial estimate of 120-180 thousand dollars, indicating a strong appreciation for experiential contemporary art.
7. O’ God, Honor Them and Do Not Honor an Enemy Over Them by Mohammed Al Saleem
- Selling price: 660,000 dollars
- Auction house: Sotheby’s Diriyah, Saudi Arabia
- Date: February 8, 2025
The work of the Saudi artist sparked a lively competition among the bidders, reflecting the emerging local art scene.
8. Untitled by Salvo
- Selling price: 204,000 dollars
- Auction house: Sotheby’s Diriyah, Saudi Arabia
- Date: February 8, 2025
The work of the Italian artist exceeded expectations, starting from an estimate of 60-80 thousand dollars, demonstrating the international appeal of contemporary Italian art.
9. Two horses by the sea by Giorgio de Chirico
- Selling price: 408,000 dollars
- Auction house: Sotheby’s Diriyah, Saudi Arabia
- Date: February 8, 2025
This work of the metaphysical master has attracted the attention of collectors, confirming the interest in Italian modern art.
10. Machine Hallucinations – Space | Chapter II: Mars by Refik Anadol
- Selling price: 900,000 dollars
- Auction house: Sotheby’s Diriyah, Saudi Arabia
Analysis of the auctions of Pablo Picasso and Fernando Botero in 2024-2025
The art market has recorded contrasting dynamics for Pablo Picasso and Fernando Botero in the years 2024 and 2025.
While Botero’s works have seen a significant increase in sales, those of Picasso have experienced a bear compared to previous years.
Fernando Botero: Growth in Art Sales
Fernando Botero, who passed away in September 2023, has seen a renewed interest in his works.
In March 2024, the auction “My Friend, Fernando Botero: The Salomón & Rosita Lerner Collection” at Sotheby’s in New York totaled over 9 million dollars, with the painting “Jugando a las cartas” from 1988 sold for 2.3 million dollars. In the same auction, “Florero” from 1974 reached 2.7 million dollars.
Also in 2024, the sculpture “Ballerini” was sold for 3.9 million dollars by Christie’s in New York. These results indicate a significant growth compared to previous years, positioning Botero among the most sought-after artists in the contemporary market.
Pablo Picasso: decline in auctions 2025
On the contrary, the works of Pablo Picasso recorded a decrease in auction sales in 2024. The total sales fell by 63% compared to 2023, reaching 221.6 million dollars, the lowest figure since 2009. The average price per lot decreased from 218,215 to 85,833 dollars.
The most expensive work by Picasso in 2024 was “La Statuaire” (1925), sold for 24.8 million dollars, a figure significantly lower compared to the 139.4 million of “Femme à la Montre” in 2023. This decline could be attributed to the scarcity of high-quality works available on the market and a possible shift in collectors’ preferences.
Comparison with the Past: art auctions between 2024 and 2025
Analyzing historical data, in 2015 the work “Les Femmes d’Alger (Version O)” by Picasso was sold for 179.4 million dollars, setting a record at the time. In 2023, “Femme à la Montre” reached 139.4 million dollars.
These comparisons highlight how recent sales of Picasso are lower compared to past peaks. For Botero, on the other hand, the recent auctions represent his personal records, indicating a bull trend in the value of his works.
Final Considerations on the 2025 Auctions
In summary, while Fernando Botero has benefited from a growing interest and an increase in the values of his works in 2024, Pablo Picasso experienced a contraction in the market, with sales and average prices decreasing compared to previous years.
These dynamics reflect the evolution of collectors’ preferences and the importance of the availability of high-quality works in determining auction results.
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist and Econique.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.
