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Bernstein luxury goods analyst Luca Solca also sees broader market dynamics at play. “The very high end of the luxury market is strong overall, with jewelry doing better than other categories,” he says, adding that in today’s tense environment, there may even be a case for “bargain hunting, in a context of significantly higher prices”. A wide range of price points has also helped to entice younger customers. Jonathan Darracott, Bonhams’s global head of watches, says that the auction house has kept expanding “the range of entry-level price points”, which attracted a younger cohort of bidders more comfortable in buying online. On Sotheby’s buy-now marketplace, launched at the height of the pandemic, a collectable T-shirt by Bella Freud starts at $135 and an Hermès costume bracelet at $420.Officials John Cena The Last Time Is Now Farewell Match In Washington Dc Dec 13 2025 Shirt
Such prices put these centuries-old institutions in direct competition with traditional retailers, but unlike the latter, auction houses have proven far more flexible with payments, even accepting cryptocurrency. Sotheby’s, for instance, held its first international auction in Saudi Arabia in February 2025, accepting Bitcoin and Ether for the entire sale. Building on that momentum, Sotheby’s is launching its inaugural Luxury Week in Abu Dhabi, timed to coincide not only with the Formula One Grand Prix, but also with Abu Dhabi Finance Week and Bitcoin MENA (Middle East and North Africa). “Social media and the rise of online sales have been game changers for us. Younger collectors are incredibly tech-savvy, and these platforms enable us to reach audiences that traditional auction houses typically didn’t access,” says Christie’s global head of jewelry Max Fawcett. “The pandemic accelerated that shift — it pushed us to innovate and build a much stronger online presence.” He notes that the digital push has also coincided with a more youthful cohort, including himself, stepping into senior roles. Unlike luxury brands that have relied on celebrities for growth, auction houses have invested in education. “For Gen Zs, storytelling and provenance are key — they love knowing the journey behind a piece and what makes it unique,” Fawcett adds.
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