Fall 2025 is set to be a crucial season for the art market, with auctions in London, Paris, Milan, and New York vying for the attention of international collectors. Alongside major fairs like Frieze and Art Basel Paris, emerging names and works are catalyzing investment and aesthetic appeal. In this context, one piece of news stands out: Andy Warhol's portrait of Giorgio Armani is set to be auctioned by Phillips during London Art Week, and the house is also anticipating a major auction of the Agostinelli collection at Sotheby's in Milan.
A portrait that becomes an icon
Phillips has reportedly included in its catalog a portrait of Armani by Warhol, likely conceived with the idea of transforming it into a visual icon of the designer. The work is estimated at £ 600.000–800.000The connection between art and fashion is not new, but the figure of Armani, who recently passed away, gives the work a particular symbolic value.
In the same catalogue, also stands out My Body Knows Un-Heard of Songs di Flora Yuhnovich, estimated between £900.000 and 1,5 million, which testifies to the growing interest in emerging names capable of reinventing the word “painting” in a contemporary key.
Sotheby's Milanese operation
While Phillips is focusing on this "style" portrait, Sotheby's is relaunching its offering in Italy: on October 6th, the auction of the Agostinelli collection will be held in Milan, distinguished by a refined yet eclectic approach. The catalogue brings together highly refined furniture—such as a coffee table with legs sculpted in the shape of an ibex by Diego Giacometti or a screen by Christian Bérard—with classic and contemporary works of art.
One of the highlights announced is an oil on canvas by Jacopo Tintoretto, Concert of the Muses, which moves estimates between €300.000 and €500.000Overall, the Milanese auction aims to symbolize the bridge between historical art and modern collecting taste.
The context and the numbers that matter
In recent years, Warhol's portraits of stars and iconic personalities have continued to achieve significant results at auction: collectors continue to consider these subjects a safe haven for appreciation and prestige.
However, there are signs of tension in the market: some large recent lots have failed to reach expected reserves, suggesting that the art market's euphoria faces real limits.
In this context, the Milanese auction could be strategically important: it could attract international interest in Italy and position the domestic market at the forefront for future seasons.