Sotheby’s is projecting $7.0 billion in consolidated 2025 sales, a 17 percent increase over last year and the strongest result in the company’s history.

Auction sales rose 26 percent to $5.7 billion, accelerating sharply in the second half. Private sales came in at $1.2 billion, down slightly, while the categories of global fine art and luxury posting double-digit gains.

The company benefited from a surge of high-quality consignments: Fine art sales reached $4.3 billion (+15%), boosted by major estates including the Leonard A. Lauder Collection—the most valuable auction collection of the year—and the $236.4 million Klimt, Bildnis Elisabeth Lederer. Luxury sales climbed to $2.7 billion, up 22 percent, marking the division’s fourth consecutive year above the $2 billion mark. RM Sotheby’s surpassed $1 billion for the first time, propelled by demand for top-tier automobiles and the most expensive new Ferrari ever sold at auction.

Engagement metrics also hit historic highs, the auction house said. Across more than 450 auctions in nine countries, Sotheby’s reported an 87 percent sell-through ra...