The art market in France in 2025 went through a complex yet lively phase, with record auctions, new balances among houses, and a strong international role.
How has the hierarchy of the art auction market in France been redefined in 2025?
After a first half marked by geopolitical tensions and economic uncertainties, the market regained momentum after the summer, with some notable rediscoveries. In the traditional game of musical chairs, in 2025 Sotheby’s takes the top spot on the French podium with 386.5 million euros in sales, up by +34%.
This displaces Christie’s, which stops at 322 million euros, down by -13%, followed by Artcurial, up by 20% to 177.8 million euros.
Also noteworthy is the house Millon, which increased its revenue by 23% in the year. On November 25, Artcurial and Millon set a world record with the sale at 12.4 million euros of a masterful David and Goliath by Guido Reni, a museum-quality painting that remained in private hands for two centuries.
However, breaking the established duopoly, the most expensive work sold in France in 2025 was auctioned at Drouot for 32 million euros: a rare portrait of Dora Maar by Pablo Picasso, the Buste de femme au chapeau à fleurs, awarded by Lucien Paris on October 24.
How does the French market reflect global trends?
While maintaining its specificities, the French market remains closely connected to international dynamics and trends. Across the ocean, a slow start in 2025 gave way to a decisive acceleration in the second half of the year, particularly by Sotheby’s with the “trophies” of the legendary Lauder collection, dispersed in November for 400 million dollars at the new New York headquarters in the Breuer Building on Madison Avenue. The three most important lots of 2025 crown the Viennese symbolism of Gustav Klimt.
Leading the way is the Portrait of Elisabeth Lederer, sold for 236.4 million dollars (equivalent to 204 million euros) on November 7, now the second highest auction price in the world after the Salvator Mundi. Moreover, cautious estimates and the systematic use of financial guarantees reflect a still fragile context. These mechanisms act as a safety net for buyers and reassure consignors, encouraging them to bring works to market despite uncertainty.
What are the safest works and segments for investors?
In London, the remarkable Pauline Karpidas collection confirms buyers’ interest in high-quality surrealist masterpieces, while works by the Lalanne collectively reach 136 million euros. At Christie’s, particularly notable are the results for a superb Mark Rothko from the Ross Weis collection, No. 31 (Yellow Stripe), sold for 62.1 million dollars on November 17. Private sales remain globally stable, with a slight decline.
According to Artprice, there is a clear international slowdown in “ultra-contemporary” art. Exceptions include some now-established artists, such as Jean-Michel Basquiat, who maintains a dominant position: his Crowns (Peso Neto) reaches 48.3 million dollars at Sotheby’s on November 18.
In contrast, the ironic America by Maurizio Cattelan — a functioning toilet in solid 18-carat gold — reaches “only” 12.1 million dollars, substantially in line with the value of the precious metal.
Why has digital become central to Parisian auctions?
In 2025, Paris confirms its third place in the global auction rankings, after New York and London. Modern art consolidates, as also demonstrated by Art Basel Paris, while some categories show clear growth: ancient paintings, Art Déco, luxury, and collectible cars. The traditional Paris–London axis is rebalanced thanks to the strong rise of the French capital in the market.
At the end of a year described as “extremely intense,” Cécile Verdier, president of Christie’s France, highlights the role of “reasonable estimates” and the “weight of storytelling” in sales like the Stern collection, valued between 2 and 3 million euros and then rising to 15 million euros. Additionally, Verdier notes the dynamism of American buyers, very active in Paris and now “main buyers of decorative arts,” and records a strong turnover of collectors, particularly through online sales.
How does luxury drive the digital transformation of the art market in France?
According to Christie’s, the luxury sector is the main driver of the digital dimension, which has become a decisive tool for attracting new buyers, thanks to the brand’s strength that reassures.
Among the most significant auctions of 2025 are a monochrome by Yves Klein, California (IKB 71), sold for 18.4 million euros, and two French records for the artist: Jane Avril au Divan Japonais by Henri de Toulouse-Lautrec at 5.40 million euros and Fruit d’une longue expérience by Max Ernst at 3.3 million euros, four times the initial estimate.
Overall, the demand for high-end goods continues to drive the growth of digital sales, facilitating remote access to auctions and broader international participation. This dynamic is part of a structural transformation of the market, where strong curatorial narratives and well-calibrated online strategies become as crucial to a sale’s success as the intrinsic quality of the works presented.
What are the strengths of the Parisian market today?
“Paris has found its place with Art Basel, this year it exploded,” observes Mario Tavella, president of Sotheby’s France, who has seen collectors, especially Americans, flock to the house’s new headquarters. The numbers are telling: out of 93 nationalities represented, about a quarter of the participants come from the United States. These enthusiasts appreciate the beauty of French furniture and show growing interest in design, whose sales volume has doubled compared to 2024, and in ancient paintings, up by 32.5%.
The trophy of the year is the Elvire en buste by Amedeo Modigliani, sold for 27 million euros on October 24, an absolute record for a work sold by Sotheby’s Paris and a record for the artist in France. Also noteworthy in the Parisian context are the Bar aux autruches by François-Xavier Lalanne at 11.1 million euros and La Magie noire by René Magritte at 10.6 million euros. In another particularly sought-after category, related to lifestyle and expanded luxury, a Ferrari 250 LM from 1964 with Scaglietti bodywork reaches 34.9 million euros on February 5.
How does physical luxury remain a safe haven?
Equally iconic, the original Birkin bag that belonged to Jane Birkin ignites passions: on July 10, it is sold for 8.6 million euros, an absolute record for a bag and the most expensive luxury item ever sold in Paris by Sotheby’s. Moreover, the combination of hedonistic pleasure and tangible value ensures that luxury remains highly sought after, extending to multiple segments: jewelry, design, bags and trunks, watches, wines, collectible cars.
Philippine Dupré la Tour, general manager of the family auction house Aguttes, confirms the dynamism of the Jewelry and Watches department, alongside Asian art, and announces the opening of a Fashion and Leather Goods department. This new offering is perceived by clients as a “safe harbor” within the market, capable of combining style and capital preservation in a still uncertain macroeconomic context.
What role do rediscoveries play in the art market in France?
At Drouot, the remarkable sale dedicated to Picasso — a true rediscovery — assumes significant symbolic and commercial value. “It makes us shine in a context where it was not a given,” comments Alexandre Giquello, president of Drouot Patrimoine. However, it is not an isolated case: other exceptional and previously unknown works achieve important results, confirming the French market’s ability to reveal hidden treasures.
Among these, a Napoleon’s saber sold for 4.6 million euros (Giquello, April 22) and a sublime Renaissance drawing by Daniele da Volterra at 4.1 million euros (Millon, November 19), a world record for the artist.
Moreover, according to Giquello, “we have an increasingly broad buyer landscape and a different approach to the art market: this is the magic of Drouot.” The combination of rarity, historical narrative, and democratic access continues to make this institution a privileged observatory of new trends.
Overall, the art market in France in 2025 presents itself as a transforming ecosystem, where great records, cautious estimates, the strength of luxury, and digital momentum coexist. For collectors and investors, the challenge lies in understanding these dynamics, balancing the pursuit of masterpieces with attention to new market trajectories.
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.
