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The Art Market Year in Review

The art market experienced a turbulent 2025, beginning with a 12% decline in sales from 2024, following a 3% drop in 2023, as reported by the Art Basel and UBS Global Art Market Report. Major auction houses Christie’s, Sotheby’s, and Phillips saw average sales fall 6% in the first half of the year. However, the market rebounded by autumn, with strong sales at London and Paris art fairs and a 15% year-on-year increase in auction sales at the three main houses by December, according to Pi-eX. Key events included Sotheby’s failed sale of Alberto Giacometti’s *Grand tête mince* in May, followed by a record-breaking $236 million sale of Gustav Klimt’s *Portrait of Elisabeth Lederer* in November, and a $31.4 million record for François-Xavier Lalanne’s *Hippopotame Bar*.

New tech and old names drive sales at Art Basel Miami Beach

Art Basel Miami Beach (ABMB) saw strong sales and a cautiously optimistic mood, with Pace gallery reporting nearly $5 million in sales including a $1.1 million Sam Gilliam painting. The fair debuted a new digital art section, Zero 10, where a Beeple installation of robotic dogs excreting NFTs sold out within five hours for $1 million total, and generative art from Larva Labs sold for up to $45,000 each. However, the opening day crowd was thinner than in past years, and about 20 galleries did not return, replaced by a record 48 new exhibitors. Dealers noted a slower, quieter pace, with buyers more cautious than during the indulgent pre-pandemic era.

A time portal in 11 characters: On Kawara's "NOV. 27, 1984" sells for US$1.1m at Bonhams Hong Kong

On November 27, 2025, On Kawara's date painting "NOV. 27, 1984" from his Today series sold for HK$8.5 million (US$1.1 million) at Bonhams' Modern and Contemporary Art Sale in Hong Kong, becoming the top lot of the auction. The work, executed exactly 41 years earlier on November 27, 1984, features the date in white sans-serif lettering on a dark canvas and was acquired by a client represented by Bonhams specialist Ryo Wakabayashi, likely destined for a private collection in Japan.

Paris art exhibitions to see this month

Paris is hosting a diverse array of art exhibitions this month, ranging from Jeffery Gibson's first solo show in France at Hauser & Wirth to a retrospective on photographer Denise Bellon. Other highlights include 'Radical Making' at Carpenters Workshop Gallery, featuring designs by Charlotte Perriand and Jean Prouvé alongside contemporary artists; Gareth Mason's ceramic-focused exhibition at the same gallery; Inez & Vinoodh's 'Think Love' series at India Mahdavi's Project Room #21; and a major Art Deco centenary exhibition at the Musée des Arts Décoratifs. The guide also notes ongoing photography shows following Paris Photo 2025.

Miami Art Week 2025: Your Essential Guide to the Fairs, Exhibits, and Chaos

Miami Art Week 2025 takes place December 2-7, transforming Miami Beach and Wynwood into a sprawling art hub anchored by Art Basel Miami Beach, which features 281 galleries from 43 countries. The week includes over a dozen major fairs such as SCOPE, NADA, UNTITLED, and Pinta, alongside off-program events like street art battles at the Museum of Graffiti, a collaborative mural by RETNA and El Mac at Wynwood Walls, and David LaChapelle's world premieres at VISU Contemporary. The event follows record-breaking New York auctions totaling over $1.5 billion, including a $236 million Gustav Klimt and a $55 million Frida Kahlo.

Digital art is going mainstream

Digital art has achieved mainstream acceptance in the art world, ranking third in total spending among high-net-worth collectors after painting and sculpture, according to The Art Basel and UBS Survey of Global Collecting 2025. Over half of the 3,100 respondents purchased a digital artwork in 2024 or 2025, and the average share of digital art in collections rose from 3% in 2024 to 13% in 2025, signaling a maturation beyond the NFT boom of 2022. Art Basel is launching a new section called Zero 10 at Miami Beach 2025, featuring 12 exhibitors including AOTM, bitforms gallery, and Pace Gallery, with an interactive installation by Beeple. Major museums like MoMA, Tate Modern, and Centre Pompidou have hosted significant digital art exhibitions, further boosting collector confidence.

Five Groundbreaking Postwar Women Artists Lead New York’s Fall Art Season

New York's fall art season features five major exhibitions dedicated to groundbreaking postwar women artists, timed with the November auctions. Shows include Louise Bourgeois at Hauser & Wirth, a Joan Mitchell focus at David Zwirner, and MoMA's long-awaited Ruth Asawa retrospective. The article cites the 2025 Art Basel and UBS Report showing women artist representation in galleries rose to 41% in 2024, with sales growth correlating to higher representation. Artnet data notes 13 women among the top 100 auction sellers in early 2025, up from 10 the prior year.

The elusive artist Cady Noland has made a shock return: will it impact her reputation?

The elusive artist Cady Noland has made a shock return with a sprawling exhibition of almost entirely new work at Gagosian’s 555 West 24th Street space in New York. After withdrawing from the public eye for over a decade and becoming infamous for disavowing her own works and suing collectors over attribution, Noland re-emerged with a survey show at Frankfurt’s Museum of Modern Art in 2018, followed by commercial shows at Galerie Buchholz in 2021 and Gagosian in 2023. Her latest exhibition, featuring 38 entries mostly made this year, was a hit, with many works placed with major collectors and institutions.

Unlock Art Basel Miami Beach with curated experiences and inspiring stays

Airbnb has announced its return to Art Basel Miami Beach as part of a multi-year partnership with the fair, offering exclusive art experiences and design-forward stays. Highlights include a pre-opening tour led by fair director Bridget Finn, an interactive design workshop with interior designer Kelly Wearstler, and a private artist-guided tour of Jack Pierson's solo show at the Bass Museum of Art. The collaboration extends beyond Miami to cities like Los Angeles, Mexico City, and Tokyo, with experiences at galleries such as PACE Gallery, Vielmetter, and the Ueshima Museum.

9 Standout Solo Gallery Shows to See in Paris

The article highlights nine standout solo gallery shows currently on view in Paris, coinciding with Art Basel and other art fairs taking place in the city. Featured exhibitions include Elmgreen & Dragset's lifelike office worker installation at MASSIMODECARLO's Piece Unique window, Jessie Makinson's new surreal figurative paintings at Brigitte Mulholland, a tribute to Robert Rauschenberg's 100th birthday at Thaddaeus Ropac, Jeffrey Gibson's first Paris solo show at Hauser & Wirth, and Mickalene Thomas's new portrait series at Galerie Nathalie Obadia, among others.

Your Go-To Guide to All the Art Fairs in Paris This Week

Paris is hosting a busy week of art fairs, headlined by Art Basel Paris returning to the Grand Palais from October 24–26, 2025, under outgoing director Clément Delépine. The fair features 206 galleries across three sections, public programs at nine iconic venues including an inflatable Kermit the Frog by Alex Da Corte and a participatory installation by Harry Nuriev, and a talks series hosted by Edward Enninful. Satellite fairs include Design Miami Paris at L’Hôtel de Maisons, the dealer-run 7 Rue Froissart co-founded by Brigitte Mulholland and Sara Maria Salamone, and others like Paris Internationale and Asia Now.

Art Basel Paris 2025 Public Program transforms the city – watch the video

Art Basel Paris 2025 will present a free public program across multiple iconic Parisian venues from October 21-26. Highlights include a multidisciplinary installation by Turner Prize-winning British artist Helen Marten at the Palais d'Iéna, presented by Miu Miu; exhibitions by Fabienne Verdier and a group show curated by Matthieu Poirier at the Cité de l'architecture et du patrimoine; seven monumental sculptures on Avenue Winston Churchill featuring works by Leiko Ikemura, Thomas Houseago, and Arlene Shechet; and quirky sculptures by Julius von Bismarck at the Petit Palais.

25 of 2025: 5 Sculptors to Watch

Artnet News has published the latest installment of its '25 of 2025' series, spotlighting five sculptors to watch. The article profiles Lotus L. Kang, a Canadian artist who had a solo show at 52 Walker in New York, was recently picked up by Esther Schipper, and has appeared in group exhibitions at MoMA, Jeffrey Deitch, and the Hessel Museum. It also features Raven Halfmoon, a Caddo Nation artist whose totemic ceramic works draw on Indigenous traditions and folklore, and who had her major institutional debut at the Aldrich Contemporary Art Museum in 2023. The series aims to highlight emerging talents shaping contemporary art.

Despite new autumn slot, Tokyo Gendai remains a largely local affair

Tokyo Gendai held its third edition from September 11-14, 2025, in Yokohama, shifting from its original July slot to an early autumn date to attract more international dealers and collectors. The fair reported mixed sales amid a slow economy, with local Japanese collectors making up the vast majority of buyers. Notable sales were reported by Pace Gallery, while other galleries like Anomaly noted a slower start but eventual sales. The fair also featured a new partnership with Art Busan, bringing Korean and Chinese galleries with subsidized booth fees.

8 Artists Having a Breakout Moment This Fall

Artsy has identified eight artists poised for breakout moments during the fall 2025 art season, including Teresa Solar Abboud, who secured new representation by Lehmann Maupin and will debut a bronze sculpture at London's Hayward Gallery during Frieze Week, and Ana Cláudia Almeida, who is presenting her first major solo exhibition in New York with Stephen Friedman Gallery. The article highlights artists reaching new career milestones through gallery representation, solo debuts, and institutional exhibitions across major art capitals like Paris, London, and New York.

Chiharu Shiota Stages First New York Solo Museum Show—and a Rundown of the Latest in Asia’s Art World

Chiharu Shiota is staging her first solo museum show in New York, marking a significant milestone for the Japanese artist known for her immersive thread installations. The article also provides a comprehensive rundown of recent developments across Asia's art world, including gallery expansions, new exhibitions, art fairs, and institutional news. Highlights include Mire Lee's Los Angeles solo debut at Sprüth Magers, Bluerider Art's new U.S. outpost in Manhattan Beach, and Lisson Gallery's first show with Shanghai-based artist Ding Yi in London. Art fairs such as Frieze House Seoul, Tennoz Art Week, Art Busan, Tokyo Gendai, and Art SG are also covered, alongside the relaunch of New York's Art in General under curator Xiaoyu Weng.

Despite external chaos, Frieze Seoul soldiers on

The fourth edition of Frieze Seoul (3-6 September) took place alongside the Korea International Art Fair (Kiaf) at the Coex convention centre in Gangnam, amid economic concerns and a slower art market. Despite a modest 0.8% expected growth in South Korea's economy and fewer Western exhibitors, the fair saw strong institutional attendance, including curators from M+, the Museum of Modern Art, and the San Francisco Asian Art Museum, as well as celebrity visitors like BTS members and Blackpink's Lisa. Galleries reported cautious but steady sales, with a notable presence of Asian collectors, particularly from Japan, and a Stand Prize awarded to Kohesi Initiatives for a politically charged booth by Timoteus Anggawan Kusno.

The Storm Hits the Art Market

The article reports on the severe downturn in the art market during the first half of 2025, focusing on the closure of New York-based Clearing gallery. Despite opting out of Art Basel to host an alternative exhibition in a rented villa to cut costs, the gallery could not survive its financial losses and announced bankruptcy in August. It is one of several prominent galleries—including Blum, Venus Over Manhattan, and Kasmin—that have closed amid falling sales, high overheads, and reduced collector spending.

New York's Art on Paper fair draws a fuzzy line between its titular medium and everything else

The Art on Paper fair has returned to Pier 36 in Lower Manhattan for its 11th edition, featuring 81 exhibitors from around the world. The fair, organized by Art Market Productions (a division of a21), includes a VIP preview on September 4 and a full program of interactive events and workshops, including the return of Booksmart Fair in partnership with the Center for Book Arts. Standouts include Nina Katchadourian's plant-like sculptures at Pace Gallery, Mary Beth Edelson's Story Gathering Boxes at Accola Griefen Fine Art, and Nicolas V. Sanchez's hyperrealistic ballpoint pen sketchbook drawings. Some exhibitors push the boundaries of the paper medium by showing paintings, ceramics, and other non-paper items, prompting one visitor to ask, "Where's the paper stuff?"

Washington, D.C., Museums are Showcasing African American Art, Exhibitions Focus on Photography and the Black Arts Movement, Vivian Browne, Adam Pendleton & More

Museums across Washington, D.C., are currently presenting a robust slate of exhibitions focused on African American art, including major retrospectives, solo shows, and thematic group presentations. Notable shows include "Elizabeth Catlett: A Black Revolutionary Artist" at the National Gallery of Art, "We Gather at the Edge: Contemporary Quilts by Black Women Artists" at the Renwick Gallery, solo exhibitions for Vivian Browne and Essex Hemphill at The Phillips Collection, Chakaia Booker's "In the Tower" at the National Gallery, and Adam Pendleton's "Love, Queen" at the Hirshhorn Museum. Additionally, collectors Larry D. and Brenda A. Thompson have pledged 175 works by Black artists to the National Gallery, with over 60 on view in "With Passion and Purpose."

4 Art Advisors Weigh In on Who to Watch at Untitled Art, Houston’s Inaugural Fair

Untitled Art, a well-known Miami art fair, is expanding to Houston with its inaugural edition taking place September 19–21 at the George R. Brown Convention Center. The fair will feature over 80 national and international exhibitors, including a Nest section for emerging galleries, and will launch the CAMH Commission Prize in collaboration with the Contemporary Arts Museum Houston, resulting in a major new commission for the 2026 edition. Four leading art advisors—Illa Gaunt, Liana Schwaitzberg, Lea Weingarten, and another—have shared their shortlists of artists to watch, highlighting works by Mason Owens, Miki Leal, Ana Villagomez, Aaron Morse, and Francesca Fuchs, among others.

Big Galleries Are Racing to Sign Emerging Artists. It’s Changing Everything

Major blue-chip galleries like Gagosian, Hauser & Wirth, Pace, and White Cube are increasingly signing emerging artists earlier in their careers, bypassing the traditional trajectory where young artists would first develop with smaller galleries over many years. Examples include George Rouy joining Hauser & Wirth at age 30, Pam Evelyn joining Pace at 27, and Sasha Gordon joining David Zwirner in 2024. This shift comes amid a contracting art market where aggregate dealer sales fell 6% between 2023 and 2024, while smaller galleries with turnover under $250,000 saw sales grow 17%. Ultra-contemporary auction sales dropped 37.9% in the same period, signaling a cooling of speculative buying.

Behind-the-scenes Beatles photographs shot by Paul McCartney to go on sale at Gagosian London

Gagosian London will present 'Rearview Mirror: Liverpool–London–Paris' from August 28 to October 4, showcasing behind-the-scenes photographs taken by Paul McCartney between December 1963 and February 1964. The images, remastered from long-lost negatives and contact sheets, capture pivotal moments in the Beatles' early fame, including their Paris residency at the Olympia Theatre and their appearance on BBC's Juke Box Jury. The prints are signed by McCartney, available in editions of six to ten, and priced between $20,000 and $85,000. The exhibition follows a larger presentation at Gagosian Beverly Hills earlier this year.

This Contemporary Icons Auction Packs Blue-Chip Firepower

Artnet Auctions has launched "Contemporary Icons: Part II," a summer auction now live for bidding through August 20, 2025. The sale features over 100 lots from a single private collection, including works by blue-chip artists such as Rashid Johnson, Jean-Michel Basquiat, Shara Hughes, Marilyn Minter, Tunji Adeniyi-Jones, and Jean-Baptiste Bernadet. Highlights include Johnson's "Write me In" (est. $120,000–$180,000) and Adeniyi-Jones's "ESHU" (est. $60,000–$80,000). Head of post-war and contemporary art Johannes Vogt noted the rarity of an online auction offering so many lots from one cohesive collection, with most pieces acquired in the last 15 to 20 years.

Saatchi Yates raises a glass to London

Saatchi Yates gallery in London has opened an exhibition titled 'London Rules The World,' running until August 17, which celebrates the city's influence on the global art scene. The show features prominent artists such as Jenny Saville, Grayson Perry, Cecily Brown, Peter Doig, and Lynette Yiadom-Boakye, alongside ancillary events like afternoon tea at the Royal Academy of Arts, a Paula Rego studio tour, and a tea-towel collaboration with interior designer Nicky Haslam. The gallery is also launching a Friends scheme for £80 per month, which includes entry to gallery parties and a case of wine from their Tuscan vineyard.

Swiss mega gallery tied to Laurene Powell Jobs to open in Palo Alto near her offices

Hauser & Wirth, the Swiss mega-gallery, will open its first Northern California location this spring in downtown Palo Alto, inside a former post office at 201–225 Hamilton Ave. The move is widely seen as a bid to be closer to Silicon Valley clients, particularly billionaire philanthropist Laurene Powell Jobs, whose Emerson Collective offices are two blocks away. Powell Jobs, rumored to be one of Hauser & Wirth's top clients, shifted her business from Pace Gallery to Hauser & Wirth in 2022. The renovation is led by Paris-based architect Luis Laplace, who is also designing Powell Jobs' renovation of the San Francisco Art Institute. The gallery will be the third Hauser & Wirth in California, joining two Los Angeles locations.

Hauser & Wirth Heads to Palo Alto as Mega-Galleries Target Silicon Valley

Hauser & Wirth has announced plans to open a new gallery in Palo Alto, California, in spring 2026. The location, a historic former post office at 201–225 Hamilton Avenue, will offer 2,600 square feet of exhibition space, a bookshop, and a program of talks and events. Designed by architect Luis Laplace, it will be the gallery's sixth U.S. outpost and its third in California, joining existing spaces in downtown Los Angeles and West Hollywood. The expansion comes as the broader art market faces contraction, but mega-galleries continue targeting wealthy collector hubs like Silicon Valley.

'Hugging has replaced air kissing' – Inside America's new wave art galleries

A new wave of design galleries across the United States is redefining the traditional gallery model by prioritizing community, craft, and hospitality over sterile white-cube spaces. Galleries like Tiwa Gallery in Tribeca, Marta in Los Feliz, Blunk Space in Point Reyes Station, and Landdd in Portland are hosting opening-night dinners, sound baths, flower arranging, and workshops to create intimate, home-like environments. Curator Sonya Tamaddon, an alumna of LACMA and the Peggy Guggenheim Collection, notes a shift away from formal hierarchies toward richer dialogue between designers, artists, and collectors, with hugging replacing air kissing.

Party time: Cate Blanchett, Beth Ditto, Lily Allen and more light up glitzy Serpentine summer bash

The Serpentine in London hosted its annual invitation-only Summer Party, a glitzy fundraising gala that drew a mix of art, fashion, tech, and showbiz figures. For the first time since 2000, a single artist co-hosted the event: Australian actor and humanitarian Cate Blanchett. The evening featured the Lego Group's bright orange Play Pavilion, a reimagined installation by Indian artist Subodh Gupta, and the Serpentine Pavilion designed by Bangladeshi architect Marina Tabassum. Notable attendees included sculptors Thomas J. Price and Antony Gormley, artists Grayson Perry, Es Devlin, and Yinka Shonibare, along with celebrities like Lily Allen, Beth Ditto, will.i.am, and Jessica Gunning. The event also highlighted Giuseppe Penone's exhibition 'Thoughts in the Roots' and was supported by partners including Bloomberg Philanthropies, Ruinart, Gagosian, and Google Arts & Culture.

Highlights from Art Basel 2025

Art Basel returned to Basel for its 55th edition in June 2025, featuring 289 top international galleries from 42 countries and territories. The fair attracted 88,000 visitors, including collectors, curators, and representatives from over 250 museums and foundations. Highlights included Arturo Kameya's storytelling installation at GRIMM in the Statements section and Lothar Hempel's series of painted aluminum works at Anton Kern Gallery in the Kabinett sector, alongside large-scale installations in Unlimited and public projects in Parcours.