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.

As censorship rises, is there a future for truly political, truth-telling art?

The article examines the growing threat of censorship in the visual arts, focusing on two key incidents. In the US, the Trump administration pressured the Smithsonian Institution to review its holdings for content that contradicts "American exceptionalism," leading artist Amy Sherald to withdraw her entire solo exhibition from the National Portrait Gallery after the museum considered removing her painting *Trans Forming Liberty* (2024), which depicts a transgender person as the Statue of Liberty. Meanwhile, in France, Dutch street artist Judith de Leeuw unveiled a monumental mural in Roubaix showing the Statue of Liberty covering its eyes in shame, protesting global migrant injustice, which went viral online.

5 Must-See Comic Art Shows Lighting Up New York

New York Comic Con returns to the Javits Center from October 9–12, 2025, bringing a pop culture celebration of comics, toys, video games, and cosplay. This year's edition features a special panel by the Lucas Museum of Narrative Art, moderated by Martin Scorsese with artists JR, Boris Vallejo, and Julie Bell. Meanwhile, the late fantasy artist Frank Frazetta set a new record for comic art with a $13.5 million sale at Heritage Auctions. Beyond the convention, several exhibitions across the city highlight comic art, including "¡Wepa! Puerto Ricans in the World of Comics" at the New York Public Library and "Super Duper" at the Metropolitan Opera House, which features works by Art Spiegelman, George Condo, and Dana Schutz.

The UAE’s art market is on the up

The UAE's art market is experiencing a resurgence nearly two decades after the 2008 financial crash, driven by a booming economy and strategic investments. Key developments include an Abu Dhabi sovereign wealth fund, ADQ, acquiring a $1 billion stake in Sotheby's, and Art Basel announcing a new fair in Doha, Qatar, set to launch in February 2026. Meanwhile, Christie's is expanding its Dubai office, and Saudi Arabia hosted its inaugural Art Week Riyadh in April, featuring 32 commercial galleries. Despite these regional moves, Dubai remains the Gulf's commercial art hub, with Sotheby's chairman Edward Gibbs noting a 70% increase in regional bidders over five years and Christie's president Anthea Peers reporting that sales of modern Middle Eastern art trebled between 2020 and 2024.

Required Reading

Pakistani-born, Brooklyn-based tailor and community leader Hafeez Raza was honored by Mayor Zohran Mamdani as one of six garment workers photographed by Kara McCurdy, highlighting the real faces behind the fashion industry. Meanwhile, the Los Angeles Times's Image Editor-in-Chief Elisa Wouk Almino recounts a peculiar correspondence with artist Sophie Calle, who orchestrated a fake but real exchange using pre-written texts. In other news, Ai Weiwei discusses his new exhibition in Italy, censorship in Europe, and the Venice Biennale in an interview with El País. Additionally, Jacci Gresham, the first professional Black tattoo artist in the United States, reflects on her career since 1976, including tattooing Klan members and innovating with brown paper for Black and Brown clients.

Weekly News Roundup: April 16, 2026

The art landscape in Asia is undergoing significant shifts with Art Basel renewing its five-year commitment to Hong Kong and the Centre Pompidou announcing a June opening for its new Seoul branch. Meanwhile, the Ayala Foundation unveiled designs by architect Kulapat Yantrasast for Kontempo, a major new contemporary art center in Manila slated for 2028, and the Kochi-Muziris Biennale appointed Jitish Kallat as president following the resignation of cofounder Bose Krishnamachari.

Expo 2026 Recap | Silver Room Block Party Returns | Pita Inn Opening in the City

Expo Chicago 2026 concluded with a strategic downsizing of its floor plan at Navy Pier, a move that drew praise from dealers for increasing the quality and manageability of the fair. Significant market activity was reported, including six-figure sales of works by Robert Nava and Luftwerk, alongside the distribution of the Northern Trust Purchase Prize which gifted several artworks to institutions like the Denver Art Museum and The Phillips Collection. Beyond the fair, the Illinois Arts Council announced over $325,000 in grants for public art projects commemorating the U.S. semiquincentennial.

The Art World This Week: Nazi-Looted Modigliani Reclaimed, Kengo Kuma to Design National Gallery Wing, Seoul’s Centre Pompidou to Open in June, and More

The art world saw several major developments this week, headlined by a significant legal ruling regarding Amedeo Modigliani’s 'Seated Man with a Cane' (1918). A judge ruled against a holding company controlled by billionaire dealer David Nahmad, moving the Nazi-looted masterpiece closer to reclamation. Meanwhile, institutional expansions took center stage with Kengo Kuma being selected to design a new wing for London’s National Gallery, and the Centre Pompidou Hanwha in Seoul confirming a June 4 opening date.

5 Art Openings in London this week.

London’s art scene sees a surge of activity this week with five notable openings across the city. Highlights include a rare exhibition at Hazlitt Holland-Hibbert featuring Rachel Whiteread’s drawings alongside her sculptures, breaking her long-standing rule of keeping the two mediums separate. Other significant shows include LA Timpa’s UK solo debut at Cell Project Space, Hannah Lim’s exploration of cultural heritage at Wilder Gallery, and a group exhibition at Woodbury House featuring Los Angeles street art pioneers like RETNA and Chaz Bojórquez.

The US struggles with history, Stephen Friedman Gallery closes, Tudor Heart pendant acquired by the British Museum—podcast

The United States is experiencing significant cultural and political disputes as it approaches the 250th anniversary of the Declaration of Independence in July 2026. A recent flashpoint involved the Trump administration removing the rainbow Pride flag from the Stonewall Monument in New York, highlighting deep societal divisions over history and representation. Concurrently, various cultural initiatives are being planned to mark the semiquincentennial.

How the wealth transfer from Boomers to their children will shake up the art market

The article examines how the transfer of wealth from Baby Boomers to younger generations is reshaping the Australian art market. As Boomers downsize or pass away, their tightly held collections—featuring artists like Grace Cossington Smith, Howard Arkley, and Brett Whiteley—are entering auction houses, creating rare buying opportunities. Meanwhile, younger collectors (Gen X, Millennials, Gen Z) face economic uncertainty, leading to a softening in the ultra-contemporary market and a decline in NFTs. New models of online and agency representation are bypassing traditional galleries, and galleries themselves are undergoing generational change, with some closing and others like Ames Yavuz and D'Lan Contemporary expanding.

With two fairs and a new festival, Aspen art scene is reaching new peaks

Aspen, Colorado's art scene is expanding with two concurrent art fairs and a new festival during Aspen Art Week. The 15th edition of Intersect Aspen, the city's longest-running fair (formerly Art Aspen), will feature 28 galleries including Jackson Fine Art and debutant 212 Gallery. CEO Tim von Gal reports record attendance and sales from 2023. Meanwhile, the Aspen Art Fair returns for its second edition at the historic Hotel Jerome, doubling its exhibitor list to 43 galleries, including Perrotin and Miles McEnery Gallery. Co-founded by Rebecca Hoffman and dealer Bob Chase, the fair emphasizes a convivial, community-focused atmosphere.

May You Live in Less Interesting Times

The international jury for the Venice Biennale has collectively resigned just before the press preview, following their announcement that countries accused of crimes against humanity—specifically Israel and Russia—would be excluded from award consideration. The jurors did not provide an explicit reason for their resignation. Meanwhile, Russia's return to the 61st Venice Biennale will involve workarounds to comply with international sanctions, including restricted pavilion access. The article also highlights a widely-read essay by Hakan Topal on the financialization and 'administrification' of American art schools and academia.

Some cry censorship, others cry antisemitism

"Die einen schreien Zensur, die anderen Antisemitismus"

A constitutional law scholar, Christoph Möllers, warns in an interview with Die Zeit about the dangerous escalation of cultural policy conflicts, sparked by Documenta 15, where accusations of censorship and antisemitism collide. In Poland, Adam Budak was removed as director of MOCAK in Krakow after just a few months, facing 79 allegations including mobbing and problematic leadership. Meanwhile, the New York spring auctions have launched, and Jason Farago's review of the Venice Biennale in the New York Times criticizes the shift from aesthetic innovation toward identity-driven art. Robin Pogrebin also reports on the merger of the Met and the Neue Galerie, described as a rare convergence of two museum models.

Contemporary US Art is Sick with Problems

"Die zeitgenössische US-Kunst ist von Problemen krank"

Artist Josh Kline has sparked a heated debate with a scathing critique of the American art scene, particularly targeting New York City as an unsustainable hub driven by market logic and inequality. Kline argues that contemporary art is "sick with problems" and urges young artists to abandon the city, calling for a shift from institutional critique to a broader industry-wide analysis of class and power. Meanwhile, the German art world sees significant movement with the upcoming auction of Georg Kolbe’s "Tänzerinnen-Brunnen" following a Nazi-looted art settlement, and the Berlin State Museums announcing a phased reopening of the Pergamon Altar starting in 2027.

Behind All Beautiful Things Lies Suffering

"Hinter allen schönen Dingen liegt ein Leiden"

The art market is undergoing a profound structural transformation as a new generation of collectors shifts focus away from traditional blue-chip masters like Cy Twombly and Mark Rothko. These 'NextGen' buyers, socialized through the internet and Instagram, prioritize identity-building over status, favoring streetwear, digital art by figures like Refik Anadol, and music memorabilia over classical painting. Meanwhile, institutional shifts are occurring globally: Greece has introduced specific legislation to criminalize the production of art forgeries, and LACMA director Michael Govan is defending the $724 million Peter Zumthor-designed expansion as a necessary 'magnet' for attracting major donations.

One of the Greatest Photographic Documents of the 20th Century

"Eines der größten fotografischen Dokumente des 20. Jahrhunderts"

A New York court has concluded an eleven-year legal battle by awarding Amedeo Modigliani’s 'Seated Man with a Cane' to the heirs of Jewish art dealer Oscar Stettiner. The ruling rejected the claims of the powerful Nahmad family, with the judge determining that Stettiner never voluntarily relinquished the work during the Nazi era. Additionally, a significant photographic archive belonging to darkroom technician Roland Haupt has surfaced, containing previously unseen World War II images by Lee Miller and Cecil Beaton.

Venice Biennale: A Silent US Pavilion

Biennale de Venise : un Pavillon US silencieux

The US Pavilion at the 2026 Venice Biennale, featuring artist Alma Allen, opened to sparse crowds despite a 10% overall attendance increase at the Biennale. The pavilion was embroiled in controversy before opening: Allen was selected by the American Arts Conservancy (AAC), a private entity created in 2025 at the initiative of Donald Trump after the dissolution of the federal committee that previously oversaw the pavilion. AAC head Jenni Parido, a former pet food executive, chose the self-taught, little-known artist who had never had a solo museum exhibition. Major funders the Ford and Mellon Foundations withdrew, forcing the AAC to launch a public donation appeal. The exhibition features 25 abstract bronze, stone, and burl-wood sculptures that the artist describes as biomorphic landscapes, but critics find them pleasant yet silent, lacking the promised political or visceral resonance.

report rebounding art auction market 2025 arttactic 1234767509

ArtTactic's year-end report reveals that the global art auction market rebounded to $4.55 billion in 2025, an 11.1% increase from 2024. Sotheby's saw a 17% sales jump and Christie's a nearly 7% rise. Historic single-owner sales, including estates of Leonard Lauder, Cindy and Jay Pritzker, and Pauline Karpidas, drove recovery with $884.9 million in total. Old Masters, Impressionist, and modern art surged 42.3% year-on-year, while contemporary and post-war art lagged. The trophy market (works over $10 million) grew 19.4% to $1.48 billion, led by Impressionist art up 80.4% to $1.04 billion, fueled by three Gustav Klimt canvases from the Lauder collection.

At the Venice Biennale I saw anger at Russia and Israel – and its leadership pretending everything was fine | Charlotte Higgins

At the 2024 Venice Biennale, the Russian pavilion returned with festive performances and prosecco deliveries, drawing sharp criticism from observers who saw it as a propaganda effort to distract from Russia's war in Ukraine. Meanwhile, Ukraine's Kramatorsk was bombed, and protests erupted, including a Pussy Riot intervention. Biennale president Pietrangelo Buttafuoco defended Russia's and Israel's participation, rejecting preemptive bans despite open letters and appeals. European Commission investigated potential sanctions breaches, and culture ministers from Ukraine, Poland, Estonia, and Baltic states boycotted or condemned the biennale's stance, accusing it of yielding to the aggressor.

What to see in Seoul during Frieze: from Adrián Villar Rojas's confrontational sculptures to an examination of melancholy

The article highlights several must-see exhibitions in Seoul during Frieze week. Adrián Villar Rojas transforms Art Sonje Center with his immersive exhibition "The Language of the Enemy," featuring large-scale installations from his ongoing series "The End of Imagination" that strip the museum to a primordial state. At Gallery Hyundai, Kang Seung Lee and Candice Lin present a two-person show "Not I, not I, but the wind that blows through me," exploring queer histories and colonial legacies through drawing, embroidery, and experimental materials. Meanwhile, sculptor Hyun Nahm debuts a new body of work at Whistle in "Nest in the Field," moving away from his signature tower forms to angular iron-powder sculptures shaped by magnetic fields.

NEXT in the Gallery: September art in Pittsburgh is about landscapes, Scandinavian lore and ... sun-dried tomatoes

NEXTpittsburgh's September art guide highlights a packed month of gallery shows, art fairs, and festivals across Pittsburgh. Key events include A Fair in the Park (Sept. 5-7) featuring 101 artists, the Firebox Art Party in Carnegie, the Pittsburgh Latin American Art Festival, and the Pittsburgh Art Book Fair at Carnegie Museum of Art. Major exhibitions opening include Yasmine El Meleegy's 'Red Gold' at the Mattress Factory, which examines Egypt's sun-dried tomato industry, 'Black Photojournalism' at Carnegie Museum of Art showcasing 60 pioneering Black photojournalists, and 'Forum 91: Charles Harlan' featuring the Georgia-born sculptor's work with found objects.

In Basel, alternative art fairs spring up in new places

In Basel, alternative art fairs are proliferating as dealers seek new ways to engage collectors outside the main Art Basel fair. Maison Clearing, a pop-up group exhibition by the New York and Los Angeles-based Clearing gallery, occupies a four-story villa in central Basel, featuring works by 46 artists including Kayode Ojo, Jasmine Gregory, and Jean-Marie Appriou. The rental cost of $2,000 per day is roughly one-third the price of a medium-sized stand at Art Basel. Meanwhile, the Basel Social Club (BSC) returns for its fourth edition in a former bank building near the Kunstmuseum, hosting over 100 spaces filled with art, performances, and hospitality offerings, including artist-led services like a hairdresser and a blood bank.

Basel’s Art Exhibitions in 2026: A Must-Visit for Art Lovers and Tourists Seeking Unique Cultural Experiences

Basel, Switzerland, is spotlighting two major art exhibitions in spring 2026. The Fondation Beyeler presents a solo show of French painter Paul Cézanne, featuring around 80 works including his celebrated "Bathers" series, running until May 25. On May 1, the museum will host a "Day of the Bathers" where visitors in swimwear receive free admission, inspired by Cézanne and provocateur Maurizio Cattelan. Meanwhile, the Kunstmuseum Basel is showing "The First Homosexuals," an exhibition examining the birth of the word "homosexual" in 1868–69 and its impact on identity and visual representation through over 80 works from the 19th century.

The New Exhibitions of the Pinacoteca Agnelli and the New Public Works on the Lingotto Park-Track: The Photos

Le nuove mostre della Pinacoteca Agnelli e le nuove opere pubbliche sulla pista-parco del Lingotto: le foto

The Pinacoteca Agnelli in Turin has launched a new exhibition program that includes the first major institutional retrospective in Italy dedicated to Swiss photographer Walter Pfeiffer, titled "In Good Company," running until September 13, 2026. Curated by Nicola Trezzi and Simon Castets, the show features over 100 photographs from the 1970s to today, blending iconic and unseen works that explore queer eroticism, everyday artifice, and collaborative image-making. Concurrently, the museum presents "Modigliani sottopelle. Quattro capolavori" as part of its "Beyond the Collection" series, placing four masterpieces by Amedeo Modigliani—including a loan from the Staatsgalerie Stuttgart and works from the Centre Pompidou—in dialogue with the permanent collection. Curated by Pietro Rigolo and Beatrice Zanelli, the exhibition takes an interdisciplinary approach combining art history, diagnostics, and scientific research, using an algorithm to analyze canvas weaves and propose a new dating for the iconic "Nu couché" acquired by Giovanni and Marella Agnelli in 1960.

In Prague, the long-term future of Alphonse Mucha’s ‘Slav Epic’ hangs in the balance

Alphonse Mucha’s monumental 20-painting series *Slav Epic*, completed in 1928, has never received the permanent exhibition space in Prague that the artist demanded when he donated the work to the city. For decades the series has been displayed in Moravský Krumlov, and its current loan there was recently extended to 2031. Plans to install the Epic in a vaulted underground space designed by Thomas Heatherwick as part of Crestyl’s Savarin development have stalled due to permitting delays, though Crestyl now expects construction to begin in 2025 and open in 2029. Meanwhile, legal disputes persist: John Mucha (the artist’s grandson) had threatened to revoke the city’s ownership, and another granddaughter, Jarmila Mucha Plocková, has challenged the proposed location as unworthy.

Frieze London diary: a Mick Jagger meeting, a movie night and punk fair style

Frieze London 2025 is underway with a series of off-site events and colorful encounters. Highlights include a Prada Mode installation by Elmgreen & Dragset at Camden Town Hall, where the duo transforms a former council chamber into an auditorium filled with mannequins and a looping abstract film. At Nahmad Projects, artist Michelangelo Pistoletto met Mick Jagger at an exhibition pairing his new Mirror Paintings with Cubist works by Picasso. Belgian collector Alain Servais turned heads in a blazer emblazoned with British rock band names and the slogan "Anarchy in the UK." Russian performance artist Petr Davydtchenko displayed his Pfizer-forehead tattoo as part of his archive piece "Skin in the Game" (2025), acquired by the A/POLITICAL collection. Meanwhile, Victoria and Albert Museum director Tristram Hunt published a Financial Times op-ed defending London and the UK as a cultural destination.

state of the art market an analysis of global auction sales in the first five months of 2022 2136208

Artnet News, in collaboration with Morgan Stanley and the Artnet Price Database, analyzed global auction sales from January through May 20 for the years 2018 to 2022. The total auction sales for the first five months of 2022 reached $5.7 billion, just barely exceeding the previous high set in 2018. The sell-through rate was 73.4%, the second highest in the period examined. The average price of a work sold surged 180% from 2020 and 26% from 2021, driven by pent-up supply of high-value works. Sales of works priced at $10 million and above grew nearly 50% year-over-year, fueled by major consignments from the estates of Thomas and Doris Ammann, Anne Bass, and Harry and Linda Macklowe. Meanwhile, sales of works under $10,000 increased 43% since 2018, partly due to the rise of online auctions during the pandemic.

What else is happening

Was sonst noch geht

Ahead of the Gallery Weekend Berlin (May 1–3), the city is buzzing with parallel exhibitions that extend far beyond the official gallery circuit. The fourth edition of the Sellerie Weekend opens over 75 independent Off-Spaces from April 30 to May 3, featuring performances, curated tours, and a kickoff event with artist Sophia Süßmilch at the Spoiler project space. The Paper Positions art fair returns to Tempelhof Airport (April 30–May 3) with 70 international galleries specializing in works on paper, including artists like Annegret Soltau, Una Ursprung, and Stefanie Moshammer. Meanwhile, the art initiative House presents the group show "Gravity Ease Contract" in the Berghain heating plant hall (May 1–24), curated by David Douard, with works by Susan Philipsz, Julia Scher, and others. Finally, collectors Karen and Christian Boros unveil "Berlin Bunker #5" in their bunker-turned-museum, featuring recent acquisitions by Pol Taburet, Sung Tieu, and Jill Mulleady.

EU imposes sanctions on Mikhail Piotrovsky, director of Russia's State Hermitage Museum

The European Union has imposed sanctions on Mikhail Piotrovsky, the director of Russia's State Hermitage Museum, as part of its 20th sanctions package adopted on 23 April. Piotrovsky, a vocal supporter of Russia's full-scale invasion of Ukraine, is cited for being a close associate of Vladimir Putin and for actively supporting the war, including justifying Russian cultural policies that incorporate Ukrainian museum items into Russia's State Museum Fund and enabling unauthorized archaeological excavations in occupied Crimea. The sanctions also target three other cultural officials involved in the Crimean digs. Meanwhile, Hermitage archaeologist Alexander Butyagin, arrested in Poland in December 2025 at Ukraine's request, was released in a prisoner exchange on 28 April.