Auction house Christie's on Monday announced record sales of $8.4 billion in 2022, outshining its rival Sotheby's, which also posted its best-ever result at $8 billion for the year.

Christie's racked up $7.2 billion in auctions and another $1.2 billion in private sales, easily topping the $7.1 billion it made in 2021 as the art world emerged from the Covid-19 pandemic, which greatly hindered auction operations.

"In 2022, despite a challenging macro-environment, Christie's has achieved our highest ever global sales," chief executive officer Guillaume Cerutti said, referring to economic challenges sparked by inflation and the war in Ukraine.

He noted "the resilience of the art and luxury markets, the remarkable success of several major art collections -- including the unforgettable Paul Allen sale -- and the expertise and hard work of our teams around the world."

Allen, the co-founder of Microsoft alongside Bill Gates, died in 2018. In 2009, he signed the "Giving Pledge" -- a promise to donate the majority of one's wealth to charity.

His extensive collection, spanning 500 years of art history, raked in a massive $1.6 billion. Five works went for more than $100 million each, including a Cezanne, a Van Gogh and a Gauguin.

And at a separate Christie's sale in May, a famed Andy Warhol portrait of Marilyn Monroe -- "Shot Sage Blue Marilyn" -- sold for $195 million, setting a record for a piece of 20th century art.