Sotheby’s London Sets Record with £221 Million in Single-Day Auction Sales

On March 2, Sotheby’s London held the “NOW Evening Auction” and the “Modern & Contemporary Evening Auction,” achieving a total sale of £221 million / $297 million—its highest ever single-day total in London. Over 88% of lots were sold, and the number of artworks fetching over £10 million was the highest in the past five years. Bidders participated enthusiastically from 46 countries—the most in the past decade—with over half of collectors submitting their bids online, setting a record for London’s flagship auctions. The “NOW Evening Auction” also exceeded its high estimate by over 35% in total sales.

Magritte’s ‘L’Empire des Lumières’ sold for £59,422,000 (approx. $79.8 million), far exceeding its estimate

Following a preview exhibition at Sotheby’s New Bond Street gallery that drew more than 8,000 visitors, the “Modern & Contemporary Evening Auction” on March 2 saw multiple auction records. The standout work was René Magritte’s L’Empire des Lumières, which achieved £59,422,000 (approx. $79.8 million), smashing the artist’s previous auction record. It was the top lot of the evening. Helena Newman, Chairman of Sotheby’s Europe and Global Head of Impressionist & Modern Art, stated: “Without doubt, Magritte’s L’Empire des Lumières is a masterpiece of 20th-century art. This auction result is a testament to the extraordinary allure of his work and the intense global demand among collectors. The painting captivates viewers and transcends traditional boundaries, garnering significant attention during the global preview tour in the past two months. With this outstanding performance in the year’s first major auction season, Sotheby’s London reinforces its position as a global market leader, attracting collectors from all over the world.”

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