Art News. Vasari Codex

trending_up market schedule Dec 23, 2025 visibility 34 link 17 artists, 8 galleries

stop making sense 2025 art market analysis

The article analyzes the chaotic and contradictory state of the global art market in 2025, a year marked by extreme volatility following President Donald Trump's return to office. Key events include strong sales at Frieze Los Angeles in February, a record $13.8 million sale of a painting by M.F. Husain at Christie's, and a sharp downturn after Trump imposed sweeping tariffs on major trading partners. Major auctions in May fell far short of expectations, with only $837.5 million hammered against estimates of up to $1.6 billion. Meanwhile, Art Basel expanded with a new Qatar fair, but sales at Art Basel Switzerland dropped over 35% from 2024. The year also saw a wave of gallery closures, including the sunsetting of Blum & Poe.

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trending_up market schedule May 5, 2025 visibility 19 link 4 artists, 1 gallery

tefaf new york art fair trump tariffs impact

New tariffs imposed under the Trump administration are causing significant disruptions for art professionals shipping works to major New York art fairs, particularly TEFAF New York. Shipping companies report a 'torturous road' as galleries navigate complex import taxes—including 7.5% on Chinese artworks, 25% on steel and aluminum sculptures, and 10% on jewelry, furniture, and design pieces—while many original artworks, antiques over 100 years old, and collector's pieces remain exempt. Galleries are modifying operations by renting booth furniture, showing items already stored in the US, and avoiding shipments from China, with some classifying antiquities broadly as 'sculpture' to simplify customs clearance.

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trending_up market schedule May 9, 2025 visibility 20 link 5 artists, 2 galleries

Buzz in New York’s art trade during Frieze week masks uncertainties

During New York's Frieze week, over a dozen art fairs opened in four days, creating a bustling atmosphere that masked underlying economic and political uncertainties. Dealers and advisers reported strong preview-day attendance and a palpable energy, with some noting that the crowded calendar and a recent US-UK trade deal helped buoy spirits. However, the art market has not returned to its 2022 peak, with auction estimates down $250 million from 2024 and high interest rates still deterring average collectors.

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trending_up market schedule Jul 7, 2025 visibility 16 link 5 artists

The art market bites back as estimates fail to score

Sotheby’s, Christie’s and Phillips raised a combined $1.27bn from their May 2025 marquee auctions of Modern and contemporary art in New York, an 8% decline from the same period last year, according to data from London-based auction analysts Pi-eX. The highest-priced lot, Alberto Giacometti’s 1955 bronze bust *Grande tête mince (Grande tête de Diego)*, estimated at $70m, failed to sell, while Andy Warhol’s *Big Electric Chair* (1967), valued at $30m, was withdrawn before Christie’s auction to avoid a similar fate. The downturn is attributed to geopolitical uncertainty under Donald Trump’s presidency, including tariffs announced on April 2, which have unsettled buyer confidence.

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