Christie's Most Expensive Sales: Seven Highest Grossing Auctions

7 Highest-Grossing Christie’s Auctions of All Time

As you’ve seen from my other blog posts, there are a wealth of places both on the web and in person where one can procure high quality art. Places like Studio6, Lumas, 1stdibs, Martin Lawrence Galleries, and others cater to the needs of virtually all collectors, offering the new, the old, originals, reproductions, valuable rarities, and budget-friendly space-fillers.

But what if you’re looking for something else—something rarer, older, or more valuable? Something that even the most prestigious galleries and dealers wouldn’t be able to get their hands on—something that arguably belongs in the collection of a famous museum?

For those collectors, the best course of action open to them is to consult the auction houses. These are professional organizations built around the acquisition, appraisal, and sale of truly rare pieces of art, obtained from the finest private collections in the world. Many of these artworks, with notable provenance and originally acquired by distinguished collectors, are held privately for decades before appearing at auction. Here, even the most particular of art collectors can usually discover the pieces they’ve been dreaming about. Some of these paintings are displayed for public viewing prior to the sale, generating excitement among collectors. For those who persist even to the rarified air of this group, at the top of the pyramid sits Christie’s.

Christie’s Hong Kong and Christie’s in New York are renowned venues for record price sales and have hosted some of the biggest sales in auction history. Christie’s is also known for offering crown jewel masterpieces from private collections, often resulting in the biggest sale of the season. The auction house has achieved new auction records for both paintings and works by women artists, reflecting the diversity and innovation in the art market. Single evening and evening sale events at Christie’s often result in high estimates being surpassed, with some lots selling well above their low estimate, setting previous record and auction record prices. During the auction process, buyers must also pay a buyer's premium, which is an additional fee added to the hammer price and affects the total price paid by the winning bidder.

What is Christie’s Auction House?

Christie’s is the most prestigious and highest-grossing art auction house in the world today. It’s two centuries older than the famed Heritage Auctions and China Guardian and this past year, it brought in seven times the revenue of its older sibling Sotheby’s.

Christie’s was founded in 1766 in London by James Christie who passed the enterprise onto his son upon his death. Over the next two centuries, the organization gradually expanded, acquiring the famed galleries Leger and Spink & Son, surpassing the sales of other professional auction houses, and establishing major locations in New York, Paris, Hong Kong, and Geneva. Christie's Hong Kong and Christie's New York are now recognized as premier venues for high-value sales, regularly hosting record-breaking auctions. Sotheby's London stands as a key competitor in the global auction market, with its own storied legacy of handling masterworks.

In recent years, Christie’s has not only led the way in acquisitions and profits, but in diversity and innovation as well. Private sales have become an increasingly large part of Christie’s portfolio, to protect buyers and sellers of high-valued art items. They have also begun to expand into the property sector since purchasing North America’s largest independent realtor network. Christie’s has also achieved record-breaking sales of works by women artists, further highlighting its commitment to diversity in the art market. Finally, in May, 2021, Christie’s became the first top-tier auction house to sell an NFT, accepting cryptocurrency as payment by the buyer.

Christie’s has set new auction records and achieved record prices for paintings by artists such as Claude Monet, Paul Gauguin, Andy Warhol, and Vincent van Gogh's, including iconic works like Shot Sage Blue Marilyn and Ten Cent Western. The auction house has consistently surpassed high estimates and low estimates, with many lots selling above their predicted valuation, and has established new auction records that break previous records for both individual artists and categories. Christie’s has achieved the biggest sale totals in auction history, often surpassing high estimates and previous records in a single evening, underscoring its dominance in the art market.

Christie’s has been a cornerstone of the art world for centuries, but nothing demonstrates this better than looking at the masterworks they have sold. Many of these paintings are considered the crown jewel of their respective collections, significantly contributing to the total price realized at auction. Below are the seven highest-grossing items ever sold by Christies (with inflation-adjusted numbers in parentheses), and number one doubles as the most expensive artwork ever sold.

Auction Market Analysis

The auction market for art has undergone a remarkable transformation in recent years, with sales figures reaching unprecedented heights and new records being set at a rapid pace. Driven by an insatiable demand for high-quality, rare, and unique pieces—especially in the Impressionist and Modern art sectors—auction houses like Christie’s have become central players in the global art market. In 2022 alone, Christie’s reported total sales of $8.4 billion, underscoring its dominance and expertise in handling some of the world’s most valuable artworks.

The allure of masterpieces by artists such as Vincent van Gogh and Pablo Picasso continues to fuel intense bidding wars, often resulting in new auction records and headline-grabbing hammer prices. At the same time, the market for contemporary art has surged, with living artists achieving record prices and attracting a new generation of collectors eager to participate in the excitement of the auction block.

Technological innovation has also played a pivotal role in expanding the reach of the auction market. Online bidding platforms have made it easier than ever for collectors from around the world to participate in sales, breaking down traditional barriers and increasing competition for sought-after works. This digital evolution has allowed auction houses to connect with a broader audience, further driving up prices and sales volumes.

However, the art market is not immune to external influences. Economic fluctuations, geopolitical shifts, and global events can all impact buyer confidence and spending habits, sometimes leading to more cautious bidding or shifts in collecting trends. Despite these challenges, the auction market remains a vital and dynamic platform for buying and selling art, as evidenced by landmark sales like the record-breaking auction of Leonardo da Vinci’s Salvator Mundi.

Looking ahead, the art market is expected to continue its upward trajectory, propelled by growing interest from new collectors and the ongoing globalization of art sales. As the landscape evolves, auction houses like Christie’s must remain agile, adapting to changing buyer preferences while upholding their reputation for expertise and excellence in the world of fine art.

7. Nude, Green Leaves, and Bust, Pablo Picasso

Nude, Green Leaves, and Bust is a large portrait of Picasso’s interwar mistress Marie-Thérèse Walter, painted in 1932. Originally sold to the painter’s friend and dealer Paul Rosenberg, the work was originally acquired by Rosenberg, contributing to its notable provenance. It was moved out of France in anticipation of World War II, and displayed at one of his gallery spaces in New York until 1951. At that point, it was bought by the Brody family of art collectors. The painting was held privately in their private collection for nearly 60 years, with only a single public viewing on Picasso’s birthday in 1961. On the death of Frances Brody in 2009, the painting came to Christie’s who auctioned it to a private bidder for $106.5 ($126.4) million. The sale set a new auction record and record price at the time, far surpassing its high estimate and previous record, with the final total including the buyer's premium.

6. Three Studies of Lucian Freud, Francis Bacon

Three Studies is a triptych of Francis Bacon’s close friend and artist Lucian Freud. Painted at the Royal College of Art in London in 1969, the piece was subsequently split into three in the 1970s, much to the displeasure of Bacon himself. The work boasts notable provenance, having been held privately in a distinguished private collection for years before being exhibited. Luckily, in the 1980s, one of the original buyers obtained and recombined the three pieces, allowing it to be exhibited in its original form at the Yale Center for British Arts in 1999. After a brief exhibition in its homeland of Britain in 2013, its public viewing generated significant interest prior to the auction. The work came to auction at Christie's, where it was sold during a high-profile evening sale, achieving a new auction record and record price, far surpassing its high estimate and previous record. The final total, including the buyer's premium, was $142.4 ($158.2) million—at the time also the highest price paid for a work.

5. Portrait of Dr. Gachet (First Version), Vincent van Gogh

This is the first of two portraits of similar composition depicting Dr. Paul Gachet, the doctor who treated van Gogh during his extended battle with mental illness and who cared for the artist near the end of his life. Warmer, with greater detail and more visible brushwork, the first version passed through various hands before ending up in the Städtel in Germany in 1911. The painting has a notable provenance and was originally acquired by significant collectors, adding to its historical and market value. It was subsequently confiscated and sold by the Nazis, eventually finding its way to New York in the possession of Sigfried Kamarsky who frequently loaned it to the Met. The painting was held privately in a private collection for many years before its auction.

In 1990, Kamarsky put up van Gogh's painting for auction at Christie’s, where the sale of Vincent van Gogh's masterpiece set a new auction record and record price, surpassing its high estimate and previous record, with the final total including the buyer's premium. The painting sold for $82.5 ($163.4) million, another record-breaker, far exceeding both its low estimate and high estimates. Its current whereabouts, however, are unknown.

4. Portrait of Adele Bloch-Bauer I, Gustav Klimt

Perhaps Klimt’s most recognizable painting, the long and sad story of this work has even been converted into a major motion picture. Held hostage by the Austrian government and the Galerie Belvedere since its confiscation by the Nazis in 1941, the portrait of the wealthy Jewish-Austrian aristocrat was eventually returned to Bauer’s descendent Maria Altmann after a lengthy international legal battle. The painting boasts a notable provenance, having been held privately in a distinguished private collection for many years, which contributed to its rarity and desirability.

In 2006, Altmann sold it in a private sale brokered by Christie’s to Ronald Lauder, who put it on display in New York’s Neue Galerie. The price agreed upon set a new record price and auction record for a Klimt painting, far surpassing the previous record, high estimate, and low estimate, with the final total including the buyer's premium.

3. Nu couché, Amedeo Modigliani

Amedeo Modigliani was an Italian painter around the turn of the 20th century whose work resonated with and influenced the rising tide of Cubism in interwar Spain and France. Nu couché (reclining nude) typifies Modigliani’s unique style and can be seen as a precursor to treatments of the nude form in modern art. The piece was held in private hands since its creation in 1917, with notable provenance, having been held privately in a private collection for nearly a century. It was finally sold at Christie’s in 2015 to a Chinese collector, Liu Yiqian, for $170.4 ($186.1) million during a high-profile evening sale. The work achieved a new auction record and record price, surpassing its high estimate and previous record, with the final total including the buyer's premium.

2. Les Femmes d’Alger (Version O), Pablo Picasso

Les Femmes d’Alger is a series of fifteen artworks by Picasso comprising a tribute to the artist Eugène Delacroix and his 1834 painting The Women of Algiers in their Apartment. The last in this series, painted in 1955, is called “Version O” and was held by Victor and Sally Ganz, who bought the entire series back in 1956. The work was originally acquired by Victor and Sally Ganz, giving it notable provenance as part of their private collection, where it was held privately for decades. Sold at Christie’s in New York in 1997 to a Saudi Arabian collector, it was subsequently relisted in 2015 at Christie's New York during a single evening evening sale. The painting achieved a new auction record and record price, surpassing its high estimate and previous record, with the final total including the buyer's premium. The painting was purchased by the Saudi Arabian crown prince, contributing to the total price realized at the auction, when the former Qatari prime minister Hamad bin Jassim bin Jaber Al Thani bought it for $179.4 ($195.8) million.

1. Salvator Mundi, Leonardo da Vinci

Aside from being the most expensive painting ever sold at auction, the Salvator Mundi (Savior of the World) also has one of the most mysterious and obscure histories. Likely a commission for the French monarch Louis XII from around 1500, the painting spent most of its life trading hands within the British aristocracy, disappearing and reappearing in various collections over the centuries. Its notable provenance includes being originally acquired by members of the British aristocracy, spending much of its existence in a private collection and held privately for centuries. Questions about its authenticity, given the host of well-known Salvator copies by da Vinci’s pupils, kept the painting out of the public eye until it came to light that this particular work could be the long sought-after original. Extensive restoration and study by a team at NYU led by Dianne Dwyer Modestini seemed to confirm this, and prices for subsequent auctions of the piece rose sharply. Before the auction, the painting was put on public viewing, generating global attention. In 2017, it was listed at Christie's New York and sold during a single evening evening sale, achieving a new auction record and record price, far surpassing its high estimate and previous record, with the final total including the buyer's premium.

The painting was purchased by the Saudi Arabian crown prince, making it the crown jewel of his collection and contributing to the total price realized at the auction, which was the biggest sale in auction history. At more than twice the price for the next highest-grossing public auction, Salvator Mundi tops the list of the most expensive artworks ever sold by Christie’s or anyone. The final hammer price was 400 million, with a total price with buyers premium of just over 450 million. 

The fantastic price realized for the Salvator Mundi demonstrates not only the rapidly increasing value of fine art generally, but also of the authority of Christie’s in the world of elite art collecting. As well, despite the seemingly insurmountable hammer price of the Salvator, the murky vaults and backrooms of the art world are filled with unknown treasures and works thought long gone, and very soon we could see Christie’s bring forth another incomparable rarity to astound the world.