While global auction sales slipped 6.2 percent in the first half of 2025—with post-war and contemporary art down 19.3 percent to $1.22 billion, impressionist and modern sales dropping 7.7 percent and luxury barely budging (down 0.5 percent to $805.9 million)—design, decorative arts and furniture experienced significant momentum. According to ArTactic, the category surged 20.4 percent to reach $172 million in 2025, compared to $143 million the previous year. This growth occurred despite concerns over new tariffs. While fine art remains exempt from tariffs due to a legal loophole, design objects, antiquities and other collectibles are not, yet the market continues to thrive. This sustained growth is driven by a broader collector base and ongoing institutional interest, making it worth a deeper analysis of its various tiers and areas of activity.
Recent numbers from design auctions show strong growth: Sotheby’s design sales in New York this June achieved $37.5 million, followed by Christie’s with $23.6 million and Phillips, which staged just one sale, bringing in $4 million. Altogether, the June auctions saw a 62.3 percent year-on-year increase—proof that, at least for now, the design market is not just holding steady but gaining momentum. In the same period last year, Sotheby’s reported $19.5 million, Christie’s $15.5 million and Phillips $5.1 million across two sales with significantly more inventory.
The first half of 2025 marked a landmark period for design at Sotheby’s, according to chairman and co-worldwide head of 20th Century design, Jodi Pollack. Fueled by strong global demand, record-setting prices and an expanding international collector base, the market saw particular momentum among new and younger buyers, with increased cross-category collecting. Sotheby’s reported a $75 million combined total across New York and Paris this season, among the highest series totals ever for Sotheby’s Design sales worldwide. “These exceptional results reflect the galvanizing strength of the global design market and the discerning collectors who continue to passionately pursue rare pieces of extraordinary quality,” Pollack commented.
The Lalanne obsession continued its upward trajectory, but records were also shattered in unexpected areas: the monumental Danner Memorial Window—designed by Agnes Northrop for Tiffany Studios—achieved a staggering $12.4 million last November, setting a new auction world record for Tiffany glass. Not far behind, Frank Lloyd Wright’s double-pedestal lamp reached $7.5 million after an eleven-minute bidding war this May, marking another record in the category this year.
Another magnificent glass window by Louis Comfort Tiffany, The Stillman Memorial Window, sold in June at Sotheby’s for $2,390,000 (estimate: $1.5-2.5 million) as part of the sale Masterpieces by Louis Comfort Tiffany, Featuring The Ann and Robert Fromer Collection. The sale generated $6.3 million (estimate: $3.6-$5.6 million) with 96 percent sold by lot and nearly 60 percent of lots selling above their high estimates. Notably, 21 percent of buyers participating in Sotheby’s design sales this June were new to the auction house.
Strong institutional demand is also driving the surge in the market for Tiffany Studios pieces, with museums actively acquiring the studio’s masterworks. In 2023, the Metropolitan Museum of Art acquired the three-part, 10-foot-tall, 7-foot-wide Garden Landscape, while this past May, the Crystal Bridges Museum of American Art in Bentonville, Arkansas, announced its acquisition of the monumental stained glass window Mountain Landscape (Root Memorial Window).
Meanwhile, the remarkable market surge for François-Xavier and Claude Lalanne continues unabated, cementing the duo as blue-chip fixtures in the design-art hybrid space. According to Artprice, the average auction price for their works has more than quadrupled since 2015, with major pieces now regularly surpassing six figures. The current auction record belongs to François-Xavier’s 1964 Rhinocrétaire I, which sold for €18.33 million ($19.4 million) at Christie’s Paris in 2023.
Between 2019 and 2024, Sotheby’s and Christie’s sold over 700 works from the private collections of Les Lalanne and their daughters, Dorothée and Marie, through a series of high-profile auctions in Paris and New York, generating a combined total of $330.2 million.
Demand remains strong—just this June, François-Xavier’s Grand Rhinocrétaire II (2003) fetched $16.4 million at Sotheby’s, five times its low estimate and accounting for nearly a quarter of the auction week’s total revenue. Christie’s New York also staged a dedicated sale in October 2023, François-Xavier Lalanne, Sculpteur | Collection Dorothée Lalanne, featuring works from the artist’s daughter and curated by French designer Simon Porte Jacquemus, closing with white gloves and a $59 million total, with at least fourteen lots surpassing six figures.
This October, Di Donna Gallery will present a museum-quality exhibition featuring a groundbreaking dialogue between Magritte’s surreal vision and the whimsical world of the Lalanne couple. The show will highlight their shared surrealist sensibilities and historical connection through gallerist Alexander Iolas in the 1960s. Over fifty works will be on display, including rare pieces from the estates of François-Xavier and Claude Lalanne, as well as paintings, works on paper and sculptures by René Magritte. Among the highlights is Magritte’s enigmatic L’ami intime (1958), which fetched $33.66 million at Christie’s London in March. During the last Venice Biennale, Ben Brown presented an extensive exhibition dedicated to the Lalannes, “Planète Lalanne,” featuring more than 150 works by the celebrated French duo.
Phillips’ design specialist Kimberly Sørensen says the market is still strong, but more names are gaining momentum: their June Design auction in New York achieved a 91 percent sell-through rate by lot and 96 percent by value—an exceptional result. This followed their April Design sale in London, which reached 94 percent by lot and 97 percent by value. “These figures underscore the strength of the market and the continued appetite for exceptional design and craftsmanship,” Sørensen commented.
He told Observer that he’s seeing particular interest in female designers: Judy Kensley McKie’s Fish bench led Phillips’ June Design sale in New York, achieving $406,400 and setting a new world auction record for the artist. This, after her Leopard couch already led the top lot at Phillips’ London Design sale in April—further proof of her growing international appeal. Other standout female artists performing well in the recent sale included Line Vautrin and Claude Lalanne, whose works were among the session’s top lots. The American architect and designer George Nakashima also remains a beloved figure with a truly international market, according to Sørensen. “His daughter, Mira Nakashima, now the creative director of Nakashima Studio, is a remarkable designer in her own right and her work not only continues her father’s legacy of craftsmanship, but has also successfully introduced it to a new generation.”
Studio ceramics is another area in which Phillips has seen tremendous success. Phillips’ December New York sale, Moved by Beauty: Works by Lucie Rie from an Important Asian Collection, was a White Glove auction, which followed a dedicated London sale featuring Lucie Rie and Hans Coper. “We’re proud to hold the auction records for Rie and Coper and have previously set benchmarks for Lucie Rie and Doyle Lane,” he said.
Sørensen confirms that design today attracts a broader and more diverse audience than ever. Even looking at their numbers, so far in 2025, 20 percent of Phillips’ design bidders were new to the auction house, which speaks to the category’s growing appeal. The Phillips specialist also points out that they’re seeing an encouraging rise in interest from younger collectors; Millennials and Gen Z now make up 20 percent of the Design bidders. “Many of them are drawn to the sustainability of the secondary market, where Design objects are not only beautiful but also environmentally conscious choices,” he explained. “Social media platforms like Instagram and Pinterest have played a big role in this shift, making it easier than ever for collectors to discover and connect with designers across periods and geographies.”
Looking ahead to the final few months of 2025, Sørensen and his team are optimistic. “The momentum we’ve seen so far suggests sustained interest, especially as more seasoned and new collectors recognize the value and artistry within the category.”
Despite the swoon in the broader art market, design has continued to hit new highs with world record prices in all of Christie’s top markets, according to Alex Hemingway, Christie’s global head of design. Asked about the most sought-after names, he pointed to Lalanne, Giacometti, Tiffany and Royère, adding that today’s buyers are especially drawn to masterpiece-level works with strong provenance and compelling narratives.
This June, Christie’s Design auction and the single-owner American Avant-Garde: The James D. Zellerbach Residence by Frances Elkins sale brought in a combined total of $23.6 million. Leading the auction was The Goddard Memorial Window by Tiffany Studios, which achieved $4,285,000, soaring past its $2-3 million estimate and becoming the second-highest price ever realized for a window from Tiffany’s studio. Nonetheless, the world record remains The Danner Memorial Window, which sold for $12.5 million with fees at Sotheby’s Modern Art evening sale last November. Before this, the studio’s record was $3.4 million for a Pond Lily lamp sold by Christie’s in 2018.
The Goddard Memorial Window, part of the American Avant-Garde sale, brought in $8.1 million, with 81 percent of lots selling at or above their high estimates. Other top-performing lots included two rare Oiseaux sculptures by Alberto Giacometti (sold for $2,954,000 and $2,833,000, respectively) and a pair of rare ‘Pyramides’ andirons (sold for $378,000). Jean-Michel Frank’s Aragon low table sold for $819,000, and his ceiling light brought in $277,200—more than five times its low estimate.
Lalanne led the $15.4 million Design sale. Claude Lalanne’s unique Structure végétale aux papillons, souris et oiseaux chandelier (2000) fetched $1,865,000, while her L’Enlèvement d’Europe (1990) sold for $1,134,000. Works by François-Xavier Lalanne also performed strongly, with Le Métaphore (Canard-Bateau) (ca. 2002) soaring to $667,800—five times its high estimate—and Rhinocéros Bleu (1981) achieving $327,600, well above its low estimate of $70,000. Animal-inspired design by other design masters drew significant interest as well, with Jean Royère’s Éléphanteau armchairs realizing $743,400. Notably, demand surged for Alberto and Diego Giacometti’s sculptural and lighting designs across Christie’s sales, with aggregate results finishing 147 percent above the combined pre-sale low estimates.
Vintage design has become a market of its own over the past decade, confirms Alessandra di Castro, a renowned antiques dealer and the fourth generation of her family’s historic business based in Piazza di Spagna. Over time, she has progressively expanded her offering into broader categories to meet the evolving tastes of a more diverse and constantly shifting collector base. Di Castro pointed out that demand is especially strong when it comes to prominent names, particularly among the many foreign buyers who, encouraged by the flat tax, are purchasing homes in Italy. “They furnish them with Italian taste and aesthetics—those are very interesting clients,” she explained, noting how quickly international buyers absorb the beauty around them and want to live surrounded by it, much like travelers during the era of the Grand Tour.
“Even decorative art and design have become a global market—much more conscious and diverse than in the past,” she said, noting how it’s no longer just architects searching for the perfect piece. Auction houses have opened dedicated departments, and people now come with very specific requests—asking, for instance, whether they have or can source a particular piece by Scarpa.
“Personally, I always buy unique pieces, because I view them through my own lens—as a kind of continuity with the periods I’ve always focused on, particularly the 18th and 19th Centuries,” Di Castro explained. “But with my particular approach to research and my eye for unusual objects, I really look at everything.” Still, the expert dealer admits it’s somewhat disheartening that certain categories—like sublime examples of 18th- and 19th-century cabinetmaking—are now valued far less than when she began her career, even though they remain extraordinary works.
The market for big Italian design names like Carlo Scarpa or Ettore Sottsass remains strong, even in the international market. In December 2023, a rare Pennellate glass vase by Scarpa fetched $107,100 at Wright Auction House—starting from just $24,000 after being acquired for $3.99 in a thrift shop. The Italian architect’s latest record was set just this March for a special-order display cabinet that fetched $489,868 at Piasa. The most recent record for Memphis visionary Ettore Sottsass was set in 2018 at Phillips in London, where his iconic undulating mirror sculpture fetched $430,221. Since then, his furniture and ceramics have consistently crossed into mid- to upper-five-figure territory at European post-war and design sales.
Collectible design for new collectors and expanding geographies
According to Jennifer Olshin, partner and founding director at Friedman Benda, the term “collectible design” feels arbitrary—and even reductive—especially now that the categories of art and design increasingly overlap, both in how works are created and how they circulate. “We tend to avoid using the term because it doesn’t reflect how artists and designers think about their work. For them, it’s about creating something that expresses who they are, that pushes beyond what already exists. They don’t frame it as ‘collectible’—it’s just design, in the same way we don’t say ‘collectible art,’ we say art.”
Friedman Benda is a leading gallery at the intersection of contemporary design, craft and art, representing a highly diverse, intergenerational roster of designers and artists from around the world. Many challenge conventional boundaries between disciplines, materials and cultural narratives, often in cross-disciplinary ways. “Our focus is more on the making, the expression, the stories and commentary—the reason the work exists in the first place,” said Olshin. “Every artist on our roster is doing something we haven’t seen before. Together, they form what almost feels like an encyclopedia of what’s happening in design today.”
The gallery opened in New York in 2007 with an inaugural exhibition of legendary Italian designer Ettore Sottsass—his final show before his death. Since then, Friedman Benda has staged numerous exhibitions exploring the many phases of Sottsass’s complex, imaginative career and continues to represent his estate, along with other historically significant names such as Andrea Branzi, Gaetano Pesce, Wendell Castle and Shiro Kuramata. At the same time, the gallery champions emerging and multidisciplinary voices such as Samuel Ross, Misha Kahn, Ebitenyefa Baralaye and Formafantasma. “We’ve built a program that spans three or four generations of designers, artists and architects, many of whom play off each other in fascinating ways,” Olshin noted. “There have even been moments when a collector comes to us as a Sottsass collector and leaves with a work by Misha Kahn—because they sense a shared spirit between the two.”
Olshin sees the early generation of design pioneers like Sottsass as having paved the way for younger talents. “They fought the initial battles and made things possible. Now, younger designers are building on those hard-won foundations and pushing things forward in their own way. After 18 years, we’re starting to see generational connections—designers introducing us to other designers, former students becoming peers, friends becoming collaborators. These evolving communities are really what we try to make the gallery about.”
Design itself is not new, nor is its market, Olshin pointed out. There have always been iconic collectors—especially in the U.S.—who’ve played a key role in shaping the broader design landscape. Many are deeply embedded in museum and institutional ecosystems, supporting exhibitions, publications and emerging practices. “These great patrons are integral to the cultural infrastructure,” she said. “By helping bring design into public view—through shows, dialogue and visibility—they create ripple effects that expand awareness and accessibility, shaping how wider audiences engage with design.”
What has changed more recently, however, is the breadth and diversity of the collector base. Interest in unique design pieces has expanded significantly since the pandemic, particularly among younger generations and across new geographies. “It’s not necessarily a new market, but we’re seeing a broadening of interest,” Olshin observed. “There are more players, more people engaging with what we’re doing—and a younger generation is coming to design in a really exciting way. They’re not drawing the same distinctions that once existed. For them, design isn’t separate from broader cultural conversations around art—it’s all part of the same dialogue.”
This new generation of collectors is looking to define their environments in more personal, meaningful ways. “It’s not just about aesthetics—it might be a single detail or object—but about surrounding themselves with stories and significance,” Olshin clarified. That shift has also changed who the buyers are. They’re no longer from a single social stratum or traditional collecting circles. Architects and interior designers now find themselves in closer dialogue with increasingly international, hands-on clients. “They’re interpreting the ethos of their clients—their values, daily lives, habits and aspirations. It’s about translating those stories on a deeper, more integrated level.”
If there’s one common thread among today’s collectors, it’s a desire to live with design—intentionally and fully. “They’re not just acquiring objects to display in a corner; they’re integrating design into their daily lives in meaningful ways,” Olshin said. “It’s about creating environments that reflect how they live, think and feel.”
We’re also seeing notable geographic shifts beyond a handful of major centers. “Even in the U.S., we’re seeing collectors engage with cutting-edge work from regions that didn’t have a strong design presence in the past,” she said. “Whereas before they may have traveled to New York to experience it, now they’re building collections in their own communities.” Museums are starting to reflect this expanded interest as well. Some institutions have long been ahead of the curve, while others are now adapting to meet their audiences’ growing appetite for design. “There are curators who have been championing this for years and others who are now taking cues from their patrons, local communities, or academic circles.”
At the same time, the perspective has become truly global in terms of makers and collectors. “We used to talk about the U.S. market versus international markets, but now the gaze is much broader,” Olshin added. “It’s being driven partly by institutional collecting and design initiatives in places like Australia, the Middle East and Asia.”
“The collector base has indeed grown and diversified over the years,” confirmed Cyrelle Herve, director of Carpenters Workshop in Paris, when Observer asked her to speak on the pulse of the market. “We naturally work with contemporary art collectors. We also engage with enthusiasts of vintage design and even more classical pieces. We particularly enjoy seeing our artists’ works interact with other styles, creating a sense of harmony and aesthetic balance.”
Founded in 2006 in a former carpenter’s workshop in London’s Chelsea, the gallery has since expanded globally, with locations in London (Mayfair), Paris (Le Marais), New York and Los Angeles. With a research-driven curatorial approach that remains attuned to both emerging talent and evolving trends in limited-edition functional sculpture and collectible design, the gallery now boasts a prestigious roster of artists, including Maarten Baas, Wendell Castle, Ingrid Donat, Studio Drift, Rick Owens and Antonio de Cotiis, among others.
Since the gallery’s founding, the design-art segment has undergone a remarkable transformation, Hervé reflects. “Just 15 to 20 years ago, it was still considered a niche market. Today, it holds a prominent place on the international art scene, and its market has evolved rapidly.” A visit to Design Miami or Art Basel’s Paris fair makes this shift palpable: the growing hybridization between art and design has fueled fluid collaborations across disciplines, resulting in exclusive, editioned works that blur the line between functional object and collectible sculpture.
According to Hervé, there’s a growing appetite for works that merge craftsmanship with a strong conceptual or material narrative. “Limited-edition design has moved from a niche interest to a core category in contemporary collections,” she said, noting how the gallery has recently seen a broadening audience—from seasoned contemporary art collectors to new generations drawn to tactile materials, storytelling and the individuality of each piece. “The act of collecting is no longer driven solely by function or decoration, but by a desire for meaningful, enduring works with cultural or sculptural depth. Buyers are more informed now—often researching materials, processes and the artist’s intent before purchasing.” At the same time, Carpenters Workshop is seeing increased demand for commissioned and site-specific pieces. Clients today prioritize sustainability, provenance and innovation as much as aesthetics.
Regarding trends, Hervé has seen a renewed interest in Brutalism and materiality, alongside a consistent appetite for statement pieces by established names such as Ingrid Donat, Vincenzo De Cotiis and Wendell Castle. Organic design is also on the rise, with artists like Najla El Zein and Wonmin Park gaining traction. At the same time, designers blending technology and form—such as Studio Drift and Random International—are increasingly in demand.
Asked about what she hopes to see next, Hervé is clear: “I would like the next trend to focus on narrative and sociopolitical engagement—pieces that address the environment, identity, gender, memory or decolonization.” She confirmed that the market in Paris—and more broadly in France—has grown significantly in recent years. “We work closely with many interior architects, who play a key role in promoting design art.” While the market remains sensitive to political and geopolitical shifts, which can introduce unpredictability, she notes that the market has been consistently dynamic and expansive in the United States, both on the B2B and B2C fronts. Still, she added, the French approach tends to be more measured and reflective. “More broadly, across all our markets, collecting is often guided by an intellectual process—an interest in the history of forms, the artist’s gesture and the meaning embedded in each piece. Our role goes far beyond simply presenting the work; we’re here to accompany, inform and at times, help educate the collector’s eye.”
According to 2024 data from the Artnet Intelligence Report published in March, sales in the decorative-art category—which in their analysis includes both design objects and furniture but also jewelry, watches and other collectibles—dropped nearly 42 percent year on year, netting $3.3 billion, the lowest total in a decade. In terms of geographical distribution, the market for the category at auction is much stronger in Europe ($1.3 billion in sales) and Asia ($1 billion), while North America maintains a third position for decorative art, generating just over $898 million.
The rise of fairs dedicated to Design
Meanwhile, new fairs are focusing on meeting the growing demand for collectible design. While Design Miami canceled its Basel edition, it has swiftly cemented its presence in Paris, becoming one of the most highly attended events during Art Basel Paris week. Its Miami Beach flagship returns for its 21st edition this December, curated by Glenn Adamson, and for the first time, Design Miami is also pushing into Asia with a curated exhibition in Seoul, timed to coincide with the city’s art week and tapping into the region’s booming market. Titled “Illuminated: A Spotlight on Korean Design,” the show (which is part of Design Miami’s new In Situ series) will be curated by Hyeyoung Cho, chairperson of the Korea Association of Art & Design, in collaboration with the Seoul Design Foundation. It will feature over 170 works—from furniture to lighting to objets d’art—exploring the convergence of traditional Korean craftsmanship and contemporary innovation.
This September, The Armory Show will debut a new design-focused section, Function, that explores how artists blur the lines between art and design. Beyond the curatorial intent to expand definitions, the initiative is also a strategic play to attract a broader cohort of aesthetically minded collectors. “The more entry points we can offer different types of audiences, the better,” fair director Kyla McMillan told Observer.
That same week, COLLECTIBLE returns to New York for its second edition, expanding its footprint and exhibitor roster after a successful debut at the new WSA 2 building. Long established in Belgium as the only fair devoted exclusively to 21st-century design, COLLECTIBLE’s New York edition could fill a persistent void in the U.S. market for dedicated contemporary design fairs.
COLLECTIBLE distinguishes itself with a fluid, non-traditional format that prioritizes aesthetic experience over discrete objects with immersive presentations such as Vignette, a section inviting interior designers to stage fully realized environments, creating compelling conversations between contemporary and vintage works. “Vignette will explore the conversation between collectible and interior design,” said interior designer Michael Hila, who curates the section, in a statement. “Each Vignette becomes a curated mise-en-scène—a sort of ‘store window’—where contemporary works are paired with vintage or antique pieces to express a personal design ethos. While the spaces might be small, the ideas will be boundless.” Combining curatorial rigor with a spirit of experimentation, COLLECTIBLE also keeps an eye on the future of design through New Gaarde, a platform dedicated to pioneering emerging studios founded within the past three years.
“What was once a critically engaged field has in recent years gained momentum,” Liv Vaisberg, who founded the fair with Clélie Debehault in 2018, told Observer. “We have seen a marked acceleration: more galleries dedicated to contemporary collectible design, a growing base of committed collectors, increasing institutional interest and deeper media coverage. While the market remains selective in scale, its cultural relevance has expanded significantly—shifting from the margins to a more prominent, discerning place within the broader design landscape.”
COLLECTIBLE recently announced its first-ever Hong Kong edition—the fair is venturing into the Asian market with an event scheduled for December and supported by the Hong Kong Government’s CCIDA. Curated by co-founders Clélie Debehault and Liv Vaisberg, with scenography by Ann Chan (Hero Design), the show will be part of Design Factory, a new international platform presented by Maison&Objet in Hong Kong.
Luxury-branded design holds the furniture market
It’s important to note that the data and analysis above mainly refer to the art and collectible side of the design market, which consists of exclusive collaborations, special editions and artist collaborations that distinguish it from the broader design and furniture industry. However, even when considering the industry as a whole, the global furniture market showed consistent growth in 2024. According to Future Business Insights, it was valued at $568.6 billion and is projected to reach $878.14 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.65 percent. Asia Pacific led the market in 2024 with a commanding 48.68 percent share, underscoring the region’s manufacturing dominance and rising consumer demand. In the United States, the market is expected to reach $130.24 billion by 2032, driven by strong housing sales and growing demand for innovative, design-forward furniture.
The luxury segment remains a leader. According to Technavio, the Global Luxury Furniture Market is expected to grow by $9.54 billion from 2024 to 2028, driven by the increase in the number of luxury furniture showrooms and a demand for more eco-friendly, high-quality craftsmanship.
The market is holding up across different geographies, according to Marcello Lucchetta, a vice president of sales at Luxury Living Group. “It was certainly not the best year, but it has remained stable thanks to a specific and important factor: the world of branded real estate developments,” he said, referring to branded hotels, such as Bentley Residences, Dolce & Gabbana Residences and the Fendi Condo Residences.
And that segment is especially relevant in certain regions, Lucchetta adds, noting the growing presence of so-called “soft luxury” brands—those that aren’t overly loud—doing exceptionally well, like Fendi, automotive names like Bentley and Bugatti and fashion brands like Armani, Versace and Dolce & Gabbana, which continues to show strong interest.
According to Lucchetta, the number of residential and hospitality developments tied to a brand and/or featuring branded interiors is growing, particularly in North America, extending beyond Miami. “Previously, most of the activity was centered in Miami, which now feels somewhat saturated, but the market is expanding across the U.S. and North America more broadly,” he said. “Compared to last year, the numbers are roughly the same, but there’s more uncertainty now, mainly due to tariffs and what could be described as trade wars or customs duty conflicts.” As for retail, it’s a different story—the market is weak for other products. “I think that’s a trend we’re seeing across various sectors, not just luxury.”
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