Spring Art Sales Close at $1.8B; Digital Art Ranks Third in Global Spending

June 2: Spring Sales Close at $1.8B; Digital Art Ranks Third in Global Spending============================================================The spring auction season has concluded with the strongest results since 2022.In this episode:Spring Season Results- Combined May spring sales (Christie's, Sotheby's, Phillips): $1.8B- Christie's: $1.1B evening session; Pollock "Number 7A, 1948" at $181M- Sotheby's: $909M; Rothko "Brown and Blacks in Red" (Mnuchin collection) at $85.8M- Phillips: $115M, more than double 2025 total- Sotheby's High Jewelry: $31.4M, 95% sell-through- Sotheby's Magnificent Jewels June 9: 73.11-carat Fancy Vivid Yellow diamond by Glenn Spiro2025 in Review- Global sales at Christie's, Sotheby's, Phillips: $4.55B in 2025, up 11.1% from 2024- First growth year since 2022- 53% of lots sold above pre-sale estimates in 2025 vs 48% in 2024Structural Shifts- Digital art ranks third in total spending after painting and sculpture (Art Basel 2026 report)- 51% of high-net-worth respondents purchased a digital artwork in 2024 or 2025- Private sales gaining market share over auctionMacro Context- Bain & Co: Chinese luxury spending projected +6% in 2026, reversing -5% in 2025- Chinese buyers account for more than 25% of annual global luxury sales- Structural shift toward luxury experiences (hospitality, cruises, dining) and away from traditional goodsInstitutional News- Hilde Lynn Helphenstein (Jerry Gogosian) has died at age 40 in Sao Paulo- Dawn Airey named new chair of Arts Council England, replacing Nicholas Serota on August 1- Crystal Bridges Museum of American Art completes major expansion, adding 50% more space- Centre Pompidou Hanwha opens in Seoul on June 4- John Armleder receives carte blanche at Musee d'Art et d'Histoire, Geneva- Elsewhere art fair launches in Philadelphia with 26 exhibitors at the Yowie HotelAlso from ALT/FNDATA:- Open Bid — Mon-Fri at 6 AM ET- Closing Price — Mon-Fri at 5 PM ET