Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

The contemporary art market has declined for the fourth consecutive year, with auction sales for postwar and contemporary works falling to $4.5 billion in 2025 from a peak of $8.5 billion in 2021. Simultaneously, the market has seen a significant rebound in more established categories, with auction sales of Impressionist and Post-Impressionist works rising 47% and Old Masters climbing 30% last year.

Dealers at TEFAF Maastricht Report Robust Sales, Offering Works Ranging from Two Inches to Room-Size

Dealers at TEFAF Maastricht Report Robust Sales, Offering Works Ranging from Two Inches to Room-Size

Dealers at the TEFAF Maastricht art fair reported strong sales, defying concerns over global unrest and geopolitical tensions that limited some collectors' travel. The fair, featuring 277 dealers from 24 countries, saw a high caliber of international collectors engaging with works ranging from monumental 18th-century sculptures to minuscule, intricately detailed pieces. First-time exhibitors and veterans alike expressed satisfaction, with one rare books dealer calling it his best year in three decades of participation.

Expo Chicago’s local focus pays off as Midwestern collectors, institutions buoy sales

The latest edition of Expo Chicago has reinforced its reputation as a curator-centric fair, with more than half of its booths dedicated to curated or thematic sections. Under the leadership of new director Kate Sierzputowski, the fair integrated institutional voices directly into the floor plan through sections like 'Embodiment,' curated by Louise Bernard of the Obama Presidential Center. This strategic focus on curation and local institutional ties resulted in strong early sales, including works by María Magdalena Campos-Pons, Torkwase Dyson, and Ambreen Butt, with several pieces acquired by American institutions.

SP-Arte underscores Latin America’s resilient rise amid global market recalibration

The 22nd edition of SP-Arte has opened at São Paulo’s Oscar Niemeyer-designed pavilion, featuring over 180 galleries and design studios. While global art markets face a period of recalibration, the Latin American sector—and Brazil in particular—is reporting significant growth, including a 21% year-on-year increase in sales for Brazilian dealers according to the latest Art Basel and UBS report.

The Art Market Returns to Growth

Confidence in the art market is rising, with a significant increase in dealers expecting sales growth in 2026 according to the latest Art Basel and UBS Global Art Market Report. The report, authored by economist Clare McAndrew, notes that 43% of dealers anticipate improvement, a 10-point jump from the previous year, though recovery remains uneven due to high costs and trade barriers.

Paris art enthusiast wins €1m Picasso painting in €100 charity raffle

Ari Hodara, a Parisian sales engineer and art enthusiast, won a 1941 Pablo Picasso portrait valued at over €1 million through a €100 charity raffle ticket. The draw, held at Christie’s in Paris, featured the painting 'Head of a Woman,' a portrait of the artist’s muse Dora Maar. The lottery successfully sold all 120,000 available tickets, raising a total of €12 million.

Still Life Painter Poppy Jones’s Career Is on the Move

British artist Poppy Jones has seen a meteoric rise in market and institutional recognition over the past year. Her enigmatic still lifes, created by mono-printing photographic images onto found materials like silk and suede, have resonated with collectors, leading to a major jump in searches on the Artnet Price Database and auction results that have tripled estimates, with her record now over $60,000.

Collector Jennifer Gilbert Is Selling Modernist Masterpieces to Fund Her New Arts Space

Jennifer Gilbert, the Detroit-based entrepreneur and philanthropist, is auctioning a selection of Modernist masterpieces from her private collection to fund Lumana, a new nonprofit arts organization. The sales, scheduled for May and June at Sotheby’s New York, include high-profile works by Joan Mitchell and Kenneth Noland, with an overall fundraising goal exceeding $10 million.

Comment | The market grew in 2025 but ‘interest in art is waning’

The global art market saw a 4% growth in 2025 according to the latest Art Basel and UBS Art Market Report, yet the industry remains on edge. Despite the headline increase, the report reveals a sharp decline in the average number of buyers per gallery—reaching its lowest level since 2021—and rising operational costs for shipping and logistics. Protectionist trade policies and geopolitical instability, particularly escalating conflicts in the Middle East affecting oil prices, continue to strain the contemporary sector.

Sun, Sea, and Security

"Sonne, Meer und Sicherheit"

The Art Cologne Palma Mallorca art fair has emerged as a strategic hub for wealthy German collectors, positioning the Mediterranean island as a safe and accessible alternative to more volatile global markets. While sales have been strongest in the lower price segments, the fair's revival highlights a trend toward 'lifestyle' art events that prioritize security and leisure. Simultaneously, the German art market faces a broader crisis of regionalization, where galleries are increasingly focusing on local buyers despite declining overall sales and a lack of transformative economic growth.

From Mallorca to St. Moritz, Art Fairs Are Meeting Collectors Where They Vacation

A new wave of high-end art fairs is targeting luxury vacation destinations like St. Moritz, Mallorca, and the Hamptons, moving beyond traditional market hubs. These events, such as the inaugural St. Moritz Art Week and Art on the Island in Mallorca, are strategically timed for the summer and winter holiday seasons to directly engage wealthy collectors during their leisure time.

Introducing the Intelligence Report: The Year Ahead 2026

The art auction market showed signs of recovery in 2025, with total sales increasing for the first time since 2021, driven by a strong late-season surge in New York. The U.K. market grew by 11.3%, aided by major sales like the $136 million dispersal of Pauline Karpidas's Surrealist collection, while the ultra-contemporary sector declined for a fourth year as investment flowed to established Impressionist and Modern works.

Top-End Auction Sales Help Pull Global Art Market Out of Slump, Study Says

A new report from Art Basel and UBS reveals that the global art market grew by 7% in 2024, reaching an estimated $67.8 billion. This recovery was primarily driven by a surge in high-value sales at auction, particularly in the $10 million-plus segment, which saw a 42% increase in value. The United States retained its position as the world's largest art market, while the UK overtook China to reclaim second place.

A Gauguin Portrait for Budapest

Un portrait de Gauguin pour Budapest

The Szépművészeti Múzeum (Museum of Fine Arts) in Budapest has acquired a portrait by Paul Gauguin. The painting was part of the collection of André and Françoise Kostolany, which was recently dispersed at auction by De Baecque & Associés in Versailles. The sale saw strong results, particularly for Hungarian paintings from the late 19th and early 20th centuries, with works by József Rippl-Rónai fetching high prices.

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The thirteenth edition of Expo Chicago opened its VIP preview at Navy Pier with a streamlined floor plan and a focus on emerging talent. Despite a generally slow global art market, exhibitors reported strong early sales, including Nashville-based artist Annie Brito Hodgin’s debut outside her home state and Wenhui Hao’s near-sell-out presentation with Half Gallery. The fair’s decision to reduce the number of exhibitors from 170 to 130 was widely praised by dealers for improving the quality of presentations and making the event more navigable for collectors.

Yoshitomo Nara's Work Sets Record for Highest Price in Domestic Korean Art Auction History

The work of artist Yoshitomo Nara, who represents Japanese contemporary art, has been sold at the hi..

Yoshitomo Nara’s 2016 painting "Nothing About It" has set a new record for the highest price ever achieved at a domestic South Korean art auction. Sold by Seoul Auction for 15 billion won (approximately $11 million), the work features the artist's signature wide-eyed child and surpassed its low estimate of 14.7 billion won. The same sale also saw Yayoi Kusama’s 2015 "Pumpkin" fetch 10.45 billion won, marking a historic session where multiple works exceeded the 10 billion won threshold.

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The 2025 edition of TEFAF Maastricht has opened with 277 dealers from 24 countries, showcasing 7,000 years of art history despite significant geopolitical instability in the Middle East. While the fair remains a premier destination for Old Masters and high-end antiques, exhibitors are navigating logistical hurdles caused by regional conflicts and airport closures in major transit hubs like Dubai.

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The global art market returned to growth in 2025, reaching $59.6 billion in sales according to the latest Art Basel and UBS Art Market Report. This 4 percent increase ended a two-year decline, driven primarily by a 9 percent surge in public auction sales and a significant revival in high-value transactions for works priced over $10 million. While the United States maintained its dominant 44 percent market share, the recovery was uneven, with the Impressionist and Old Masters sectors seeing major gains while Postwar and Contemporary art continued to cool.

Auctions of the week: Art, design, jewelry and comics

Auctions of the week: Art, design, jewelry and comics

The global auction calendar for the week of March 19–25, 2026, features a dense schedule of sales across major hubs including Milan, Rome, Paris, Hong Kong, and New York. Italian houses like Il Ponte, Wannenes, and Finarte are leading with diverse offerings in Modern and Contemporary art, design, and niche collectibles like European comics and militaria. Simultaneously, international giants Christie’s and Sotheby’s are hosting major sessions ranging from Modern British art in London to luxury spirits and private sales in Asia and the United States.

Show me the money: UK gallery and auction house accounts reveal reality of a tough market

Recent financial filings from UK-based art businesses reveal a stark downturn in the art market, highlighted by the sudden liquidation of Stephen Friedman Gallery. The gallery's collapse followed expensive expansion projects in London and New York, compounded by a £1.7m loss in 2023 and a significant debt of £11.4m to creditors. Other major players, including Thaddaeus Ropac, reported substantial revenue drops, with Ropac’s turnover falling from £49.6m to £36.4m as the industry grapples with rising overheads and economic volatility.

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Bottega Veneta unveiled its Winter 2025 collection at Milan Fashion Week, staged within the brand’s new headquarters at the historic Palazzo San Fedele. Creative director Louise Trotter collaborated with British designer Max Lamb to create a massive site-specific installation consisting of 421 sculptural white chairs for the audience. The set design drew inspiration from Lamb’s "60 Chairs" project, where he rapidly fabricated furniture from polystyrene slabs.

Are we seeing the demise of statement stands at art fairs?

The era of the 'statement stand' at international art fairs is rapidly declining as galleries shift away from immersive, high-risk installations in favor of more conservative group presentations. Rising participation costs, the sheer volume of the global fair calendar, and the financial pressure to recoup expenses have made experimental booths like those once championed by Jeffrey Deitch or Gavin Brown an endangered species.

LAMA: Post War & Contemporary Art featuring the Collection of Roberta & Fletcher Benton

Los Angeles Modern Auctions (LAMA) held a Post-War & Contemporary Art sale featuring the private collection of Roberta and Fletcher Benton. The auction, hosted in partnership with Artsy, showcased 121 lots including significant works by California-centric artists such as John Mason, Claire Falkenstein, Peter Alexander, and Mel Ramos. Notable items included Bernar Venet’s steel sculptures, Judy Kensley McKie’s design pieces, and a series of artist-made jewelry by figures like Sonia Delaunay and Billy Al Bengston.

Valuing the Invisible Art Market

A new report from UBS and Art Basel, authored by Dr. Clare McAndrew, reveals that the global art market reached an estimated $67.8 billion in 2023, marking a 4% increase from the previous year. The growth was primarily driven by the high-end segment, with sales over $10 million rising by 11%, while the lower and middle markets experienced a decline.

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A long-lost painting by the 17th-century Italian Baroque artist Artemisia Gentileschi, titled *Mary Magdalene in Ecstasy*, has been rediscovered and will be auctioned at Sotheby's in Paris on June 26. The work, previously known only from a single black-and-white photograph, was found in a private collection in the south of France and has not been publicly seen for 80 years.

Thaddaeus Ropac expands to New York, with Emilio Steinberger at the helm

The international mega-gallery Thaddaeus Ropac announced it is opening a project space in uptown Manhattan, marking its first permanent physical presence in New York. The gallery also appointed Emilio Steinberger, a former senior partner at Lévy Gorvy Dayan, as its new senior director in the US to lead the expansion.

Art Basel Qatar VIP day: fair’s debut encourages patience

Art Basel Qatar opened its inaugural edition to VIPs in Doha, featuring an unconventional 'boothless' format with 87 exhibitors each presenting a solo artist. The fair, curated by artist Wael Shawky, is split between two venues in the Msheireb district, with blue-chip galleries in M7 and more emerging to mid-tier galleries in the Design District. The event is heavily subsidized by Qatar, significantly lowering costs for exhibitors and encouraging a focus on market education over immediate sales.

Saudi painter Safeya Binzagr outshines Picasso at Sotheby’s second sale in Diriyah

Sotheby's second auction in Saudi Arabia, 'Origins II,' concluded with strong results, achieving a hammer total of $15.4 million and an 89% sell-through rate. The sale demonstrated robust demand for regional artists, particularly Arab Modernists, while some high-profile Western works were withdrawn or failed to sell. The standout lot was a 1968 painting by the late Saudi pioneer Safeya Binzagr, titled 'Coffee Shop in Madina Road,' which sold for $1.1 million, significantly outperforming a Picasso work in the same sale.

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Singapore's Art SG fair featured a new pavilion called South Asian Insights, backed by India's TVS Motor Company, showcasing contemporary art from South Asia. The pavilion, which included eight galleries and featured a tapestry by Raqib Shaw sold to a Japanese collector, was crowded and highlighted the rising market for South Asian art.

MENA Artists Are Having a Market Moment That’s Built to Last

Auction sales for artists from the Middle East and North Africa (MENA) region rose 9.4% to $33.2 million in 2025, driven by increased activity from international auction houses and the emergence of new hubs like Riyadh. The Sotheby's 'Origins' sale in Saudi Arabia achieved $17.3 million, setting artist records, while works from Lebanon, Egypt, and Iraq saw particularly strong gains, indicating a market rebalancing.