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Five forces that reshaped the art market in 2025

In 2025, the art market faced significant challenges, including gallery closures and unfavorable auction results in the first three quarters, driven by geopolitical pressures such as US President Donald Trump's tariffs. However, a rebound occurred in autumn, with buoyant fairs like Frieze London and Art Basel Paris, and strong November auctions in New York totaling over USD 2 billion, carrying momentum to Art Basel Miami Beach. Key events included Gustav Klimt's *Portrait of Elisabeth Lederer* selling for USD 236.4 million at Sotheby's, a record for a Modern work, and a Frida Kahlo self-portrait setting a new record for a work by a woman. Meanwhile, several galleries closed, including Blum, Venus Over Manhattan, Clearing, Kasmin Gallery, Tilton Gallery, and Perrotin and Pace's Hong Kong outposts, while others expanded, such as Thaddaeus Ropac in Milan and Hauser & Wirth in Sicily.

Art Brussels 2025 Is Keeping Up with Its European Art Fair Cousins

Art Brussels returned for its 41st edition from April 24-27, 2025, at Brussels Expo Hall on the Heizel Plateau in Laeken, Belgium. The fair featured 165 galleries from 35 countries, 38% of which were first-time exhibitors, showcasing works by over 800 artists across five curated sections: Prime, Solo, Discovery, '68 Forward, and Invited. New initiatives included The Screen, a curated video art section selected by KANAL-Centre Pompidou’s Eliel Jones and filmmaker Alex Reynolds, and Monumental Artworks, a large-scale sculpture section curated by Carine Fol. Highlights included works by Kai-Chung Chang, Guy Van Bossche, Mircea Suciu, Bendt Eyckermans, and others, alongside a special edition of the Belgian Art Prize marking its 75th anniversary.

Chickens, train surfers and Marilyn Monroe: Magnum’s print sale – in pictures

Magnum Photos, in partnership with The Photographers' Gallery, is holding a print sale titled 'Odyssey' featuring works from over 100 of its photographers. The sale includes iconic images from artists like Eve Arnold, Alec Soth, and Chris Killip, with themes ranging from personal journeys and American life to global migrations and cultural rituals. The event runs until March 29, 2026.

Martha Stewart’s Art Auction Is a Who’s Who of Contemporary Cool

Martha Stewart has curated her first-ever art auction with Joopiter, Pharrell Williams' auction platform, titled "The Contemporary Take." The sale features nearly 50 works by leading contemporary artists including Andy Warhol, Amy Sherald, Lynette Yiadom-Boakye, Damien Hirst, and Ai Weiwei, running from April 28 through May 6. Highlights include Yiadom-Boakye's "Bark Scraper" (estimated $900,000–$1.2 million), Hirst's pillcase "Up at Dawn" ($500,000–$700,000), and works by George Condo, Esther Mahlangu, and Hank Willis Thomas.