London Auctions Surge: Henry Moore Sets Record as Market Momentum Builds in March 2026
The art auction world kicked off 2026 with renewed vigor in London, where major houses delivered strong results that point to growing collector confidence at the high end. Christie’s trio of evening sales on March 5 led the pack, totaling £197.5 million ($263.8 million), a robust 52% increase year-over-year and a clear sign of strength in blue-chip modern and postwar works.
The undisputed star was Henry Moore’s monumental bronze King and Queen (conceived and cast 1952–53), the last cast in private hands, which sold for £26.3 million ($35.2 million) after an intense eight-minute bidding battle among six collectors. Hammering at £22.5 million—well above its £10–15 million estimate—the work set a new world auction record for the artist, surpassing his previous high by about 7%. The near six-foot abstracted regal figures, held by the same family since acquired directly from Moore in 1954, drew applause in the room and underscored demand for rare, museum-quality sculpture with impeccable provenance.
Christie’s success extended to Surrealism, where The Art of the Surreal session doubled expectations in key segments. New auction records were set for Dorothea Tanning and the Czech artist Toyen, while guarantees backed 21 lots across the evenings, reflecting strategic risk management in a market favoring exceptional material.
Sotheby’s set the tone the previous night (March 4) with its Modern & Contemporary Evening Auction, achieving £130.6 million ($175 million) on a white-glove 100% sell-through. Highlights included Francis Bacon’s 1972 Self-Portrait, which fetched £16 million ($21.5 million)—more than doubling its low estimate—and Leon Kossoff’s Children’s Swimming Pool, 11 o’clock Saturday Morning, August (1969), which sold for £5.2 million ($6.9 million) after a five-minute war, establishing a new record for the School of London painter. Works from the Joe Lewis collection contributed significantly, totaling £35.8 million.
Phillips rounded out the week strongly, with its Modern & Contemporary Art Evening Sale (March 5) totaling £13 million ($17.3 million) and the follow-up Modern & Contemporary Art Sale (March 7) adding to a combined £20.7 million ($27.7 million). A new world auction record went to Lancelot Ribeiro’s Landscape at Noon (1964), which soared to £516,000—more than five times its low estimate and nearly 10 times the artist’s prior high.
These London results arrive against a backdrop of broader recovery. Bank of America’s 2026 U.S. Art Market Report (released this month) shows auction sales at Christie’s, Sotheby’s, and Phillips rose 23% in 2025 to $3.17 billion—the first annual growth since 2022—with the U.S. claiming 69% of global auction value, its highest share in over a decade. Artprice’s latest annual report similarly notes 12% global turnover growth, fueled by record volume and ultra-high-end demand.
The momentum continues to build toward New York’s spring season. Sotheby’s May Contemporary Evening Auction will feature Jean-Michel Basquiat’s 1983 Museum Security (Broadway Meltdown), estimated above $45 million and fresh to market after more than a decade. The Robert Mnuchin collection, valued over $130 million, includes Mark Rothko’s Brown and Blacks in Reds (1957) at $70–100 million.
As consignments of estates and fresh masterpieces flow in—amid Asia Week in New York and beyond—the market is rewarding quality, narrative depth, and rarity. London’s March sales suggest the selective strength seen in 2025 is carrying forward, positioning 2026 for what could be one of the strongest years in recent memory.
