The world’s two major auction houses both cleared more than $1 billion in sales in the first half of 2005. Christie’s $1.65 billion worldwide haul of art was a house record and a 31.9% increase over the previous year; Sotheby’s took in $1.3 billion in auction sales, which does not include private sales. Overall prices for art rose 13% in the past year, according to artprice.com, which tabulates auction sales.

But with the supply of Old Masters and Impressionist works tightening and the heated contemporary art market possibly peaking, the fall sales promise to solidify the rise to prominence of several less-heralded collecting areas. While the biggest dollar values still come in November, when the Impressionist and Modern and postwar and contemporary sales are held, those more inclined to buy low and sell high may find more compelling pieces in the season’s bookends. Sales of Asian art in September and 20th century design in December are two of the most vital auction areas, filled with fresh masterpieces whose relative merits inspire whole new sentimental educations. Between those are the photography sales in October, the Impressionist and Modern sales in November, and the postwar and contemporary sales the following week, enlivened by single-owner sales of property from Geofrey Beene, Richard Avedon, Laurance S. Rockefeller, and Edmond and Lily Safra. Here’s a look at the highlights of the fall season.

ASIAN ART

The first big sales of the 2005 fall season feature Asian art, a category that recently has posted huge totals. Christie’s Hong Kong reported record sales of $90 million for 20th-century and contemporary Chinese art in May. Christie’s worldwide sales of Chinese art works has risen 100% in the past year. New York sales of Chinese art for both Christie’s and Sotheby’s have recently started to reach $10 million, and Sotheby’s New York has estimated that its September 20 sale of Indian and Southeast Asian art will bring in $6-8 million.

The new rich of the nations caught between full-blown capitalism and their pasts are following young hedge-fund traders and Internet moguls as the collectors of the moment. This new international elite is well-traveled, well-moneyed, and just as eager for a rare Ming vase as a perfect Pakistani miniature.

“We see quite an increased participating from Chinese buyers,” said Christie’s spokesperson Bendetta Roux. “But there is also revitalized activity from Western collectors.” Indeed, a 14th-century glazed jar from China – sold at Christie’s London in July for $28.9 million, a record for an Asian work – was bought by a Western collector.

The Asian art sales during the week of September 19 will test how much further the market can go.

PHOTOGRAPHS

In any category, estates and cashed-in investments present themselves to auction-house specialists with some degree of seasonal fickleness. But specialists in each department have differing rolodexes and areas of expertise. Some departments are stuffed with specialists, some are leaner; some are headed by relative upstarts, some by seasoned names. And many of them have worked for the competition.

The October photography sales are emblematic of how department heads can subtly influence the material on offer. Christie’s is offering a single sale of 40 Mapplethorpe Flowers on October 10, while on the same day Sotheby’s is offering a collection of Modernist classics – from Alfred Stieglitz to Harry Callahan – assembled by Joseph and Laverne Schieszler.

Joshua Holdeman, the director of photography and 20th-century design at Christie’s, used to work at Phillips de Pury, where former Christie’s photography head Rick Wester now runs the department. Sotheby’s, on the other hand, has more or less avoided the musical chairs: Denise Bethel has run the department for 25 years, and is noted for her expertise in daguerreotypes and Modernist photographers.

Mr. Holdeman has focused on contemporary photographers such as William Eggleston and Cindy Sherman, while Mr. Wester has particular knowledge of Modernist photographers. But any specialist today traffics in both sepia turn-of-the-century prints and postmodern conceptual works, even as photographers from Andreas Gursky to Diane Arbus make appearances in the major contemporary sales.

“Certainly Sotheby’s has a certain strength in 19th century, while the current Christie’s department has a certain strength in contemporary photography,” said Leila Buckjune, the former director of Christie’s photography department who now works at Howard Greenberg Gallery. “But it’s so sale driven and season-driven. It really depends on the collection you get.”

IMPRESSIONIST & MODERN ART

The 2005 fall season kicks off with minor sales of Impressionist and Modern works at both auction houses next week, but these are merely a prelude to the main event in November. In two weeks, a half-billion dollars worth of art changes hands with the quick rise and fall of paddles. Impressionist and Modern art still sells more than contemporary, despite its dwindling hold.

Sotheby’s has traditionally been stronger in Impressionist and Modern holdings, with its spring 2004 sales bringing $314 million in two days. Among the lots was Picasso’s “Garcon a la Pipe,” which sold for $104 million. But last spring, its lackluster evening sale totaled $91 million, while Christie’s evening sale the next night pulled in $143 million.

This season, Sotheby’s will look for redemption with an Impressionist and Modern sale featuring works by Leger, Renoir, Bonnard, and Dali. Sotheby’s is also strong in single-owner property sales, and it follows its Impressionist and Modern sale with two days of furniture, art, and Faberge boxes from the Lily and Edmond Safra collections, expected to bring in $25 million. (Phillips discontinued its Impressionist and Modern art sales in New York in early 2003.)

POST WAR & CONTEMPORARY ART

New York is the capital of contemporary art, outstripping the London auctions in dollar value. And Christie’s is the juggernaut, having bested its own record by taking in $133 million in a single sale of contemporary art last spring. The department is led by Amy Cappellazzo and Brett Gorvy, and was augmented by last year’s addition of Laura Paulson from Sotheby’s; recent hire Jennifer Vorbach boosts the department to 11 strong.

This season Christie’s has an imposing collection of postwar art consigned by the heirs of Lee V. Eastman, featuring a rare group of de Kooning paintings to be sold in its November 8 evening sale. Last spring, the house’s record-breaking postwar and contemporary sale was built around a similarly strong group of New York school paintings from the Jonas collection.

At Sotheby’s, Anthony Grant rejoined the contemporary department this summer, after running PaceWildenstein and then his own gallery for several years. Another Sotheby’s contemporary specialist, Matthew Carey-Williams, has departed for Gagosian Gallery, leaving the total number of specialists at six. This season, Sotheby’s has secured a massive, guillotine-like stainless steel David Smith sculpture, “Cube XXVIII Gate 33,” estimated to be worth $8-12 million, along with Andy Warhol’s 1964 “Jackie Frieze,” estimated for the same amount.

Phillips, whose contemporary department is run by Michael McGinnis, cultivates its edgy image by bringing such future stars as Daniel Richter and Neo Rauch to the blocks early and then selling them for many times their estimates. Phillips launches the week of contemporary sales on November 7 with its sale of works assembled by hard-partying socialite Princess Gloria von Thurn und Taxis, who bought such artists as Richard Prince, Andreas Gursky, and Martin Kippenberger.

20TH CENTURY DESIGN

Sotheby’s department head, James Zemaitis, is a symbol of the energy – and money – attending recent furniture and design. Youngish at 36, tall, and fond of pinstripes, he projects an avant-garde enthusiasm for 1970s pop furniture and postmodern chrome experiments. Mr. Zemaitis came over from Phillips in 2003, and his December sales last year totaled $15.3 million, highly successful for the category.

Last spring’s 20th-century design sale at Christie’s brought in $6.9 million, but nearly half was accounted for by a Carlo Mollino table that not only broke $1 million – a substantial mark at a 20th-century sale – but went on to sell for $3.8 million.

“There’s a fresh take from all the houses,” said Lee Mindel, of the architecture firm Shelton Mindel & Associates. He was the underbidder on the gazelle-like wood-and-glass Mollino table. “I wouldn’t equate success or image of the house with net prices,” he added.

Phillips, for instance, produces lavish catalogs, suggesting good design knows from good design. Sotheby’s sales, says Mr. Mindel, “seem to take a few more chances now.” The design sales follow Art Basel Miami Beach in the second week of December, picking up on the raucous, kitschy momentum typically let loose in Miami.