The art market has had a decisive turnaround. According to a new ArtTactic report, global auction sales at Christie's, Sotheby's and Phillips reached $6.8bn including fees in the first half of 2026 - up 70% year-on-year and the strongest first-half performance since 2022.
For anyone building a collection, studying the art market, or simply wondering whether now is a sensible moment to buy, the detail underneath that headline number matters more than the number itself.
London leads the global recovery
The standout story is on home turf. London sales rose 131% to $1.42bn, only just short of the $1.47bn recorded in the post-Covid rebound of 2022. Sell-through rates across the market sit at 91%, helped along by 131 white-glove auctions.
Why London? Its March Impressionist, Modern, Post-War and contemporary sales were the first major season of 2026, riding the momentum of strong New York results the previous November - evening sales in London were up 64% year-on-year. That confidence made the Lewis Collection sale at Sotheby's possible in June, which brought in $390m - roughly 28% of London's entire H1 total.
House by house
ArtTactic's figures put Christie's at $3.4bn (up 71%), Sotheby's at $2.8bn (up 71%), and Phillips at $505.4m (up 59%).
This isn't just a trophy-lot rally
The most useful finding for emerging collectors is that the recovery has depth. ArtTactic founder Anders Petterson notes the recovery is proving far broader than the headline results at the very top. While marquee evening sales have been powered by $5m-plus works from single-owner collections, the strength of day sales shows confidence has returned to the market's middle core.
Petterson points specifically to record sell-through rates in day sales, strong growth in the $50,000 to $500,000 segment, record online auction volumes and higher lot counts.
Online is back too. Online-only auctions grew 22% in 2026 after hitting a five-year low in 2025, with a record 33,474 lots sold online so far this year - a clear signal that accessible price points are moving again.
Collectibles and memorabilia are surging
Luxury collectibles at the three houses - watches, design, memorabilia - rose 25%, with memorabilia up 308% year-on-year to $96.1m, growing its market share from 0.6% to 1.4%. Heritage Auctions separately posted record half-year sales of $1.4bn, nearly 47% up on 2025.
Growth despite the geopolitics
Petterson's explanation is that many art buyers have seen their wealth rise despite the headlines - with the S&P 500 up around 10% this year - and that luxury consumption follows asset prices rather than GDP or consumer confidence. 2026 also benefited from pent-up supply, as collectors who held back during the bearish 2023-mid-2025 stretch began consigning again after the success of the Karpidas, Pritzker and Lauder collections.
Elsewhere, Hong Kong's sales volume grew almost 30% to $764m, though its relative market share slipped as London, New York and Paris expanded faster.
What this means if you're collecting
- Mid-market access is widening. The $50k-$500k band is the fastest-improving segment, which is where most serious private collections are actually built.
- Online is a legitimate entry route. Record volumes mean more inventory and more competition, but also more transparency on pricing.
- Buy on knowledge, not momentum. A rising market rewards collectors who understand condition, provenance and comparables - not those chasing headlines.
Source: ArtTactic H1 2026 auction report, via The Art Newspaper, 10 July 2026.