Global Art Market Report 2024–2025

The global art market saw total sales of $57.5 billion in 2024, a 12% decline year-on-year, marking the second consecutive annual drop. Transaction volumes rose 3% to about 40.5 million, driven by works under $50,000 which made up 85% of dealer sales. Sotheby's and Christie's together accounted for roughly half of global fine-art auction turnover, though both saw significant auction revenue declines. The United States led with 43% of global sales, while China's market share fell to 15%, its lowest since 2009. Online art sales grew to 18% of total value, and new buyer momentum was strong, with 44% of dealer buyers being new and 91% of high-net-worth collectors optimistic.

Christie’s presents Post-War to Present as a highlight of its London Summer Season - Christie's

Christie’s has announced its London Summer Season, running from June to August 2025, with the Post-War to Present sales as a central highlight. The season includes live and online auctions, selling exhibitions such as 75 Years of New Contemporaries and Modern British Art: A Selling Exhibition, and cultural partnerships. Key auction highlights include Lynette Yiadom-Boakye's '8pm Zaragoza' (estimate £500,000–700,000), Victor Man's 'The Chandler' (estimate £300,000–500,000), and works by David Hockney, Cecily Brown, KAWS, and Georg Baselitz. The live sale takes place on 26 June, with online bidding from 17 June to 1 July.

Phillips Installs Robert Manley and Miety Heiden in Top Posts Amid Market Shifts

Phillips has appointed Robert Manley as chairman of modern and contemporary art and Miety Heiden as chairman of private sales, following the departure of Cheyenne Westphal and Jean-Paul Engelen. Manley, who joined Phillips in 2016, has secured major consignments including the collection of Francesco Pellizzi and the Pop Art trove of Miles and Shirley Fiterman, while Heiden has driven a 46 percent growth in annual private sales. The appointments come after Phillips' $51.9 million Modern and Contemporary Evening Sale, which reinforced the auction house's strength in the contemporary segment.

Christie's 20/21 sales achieve $693 million

Christie's 20th and 21st Century Art sales in New York from 12-15 May 2025 achieved a total of $693 million across six sales, reaching 123% of the low estimate. The top lot was Piet Mondrian's 1922 painting *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue*, which sold for $47.56 million. Other highlights included Claude Monet's *Peupliers au bord de l'Epte, crépuscule* (1891) at $42.96 million, and Marlene Dumas's *Miss January* (1997), which set a record for a living female artist. The Leonard & Louise Riggio collection alone brought $272 million, while the 20th Century Evening Sale achieved $217 million with a 100% sell-through rate. New artist records were set for Dorothea Tanning, Remedios Varo, Louis Fratino, Simone Leigh, and Emma McIntyre.

Marlene Dumas’s $13.6m semi-nude breaks auction record for a living female artist

Christie's 21st century evening sale on Wednesday achieved $79 million ($96.5 million with fees), falling within revised estimates but below original projections and prior sale totals. The standout lot was Marlene Dumas's 1997 painting *Miss January*, which sold for $13.6 million with fees, setting a new auction record for any living female artist. The sale saw three of four records set for women artists, including Simone Leigh, Emma McIntyre, and Louis Fratino, though bidding was subdued overall with heavy reliance on third-party guarantees.

Despite record-breaking results for four women artists, Phillips’s evening auction in New York sparks few fireworks

Phillips’s evening sale of modern and contemporary art in New York on May 13 achieved a total hammer price of $44.2 million ($52 million with fees), falling just below the low pre-sale estimate of $45.3 million. Four works were withdrawn before the sale, and five lots failed to sell. Despite the subdued overall results, the auction set new auction records for four women artists: Kiki Kogelnik, Ilana Savdie, James Turrell (Light and Space artist), and Grace Hartigan. Other strong performers included works by Yu Nishimura, Olga de Amaral, Barbara Hepworth, and Danielle McKinney. The top lot was Jean-Michel Basquiat’s *Untitled* (1984), formerly owned by David Bowie.

A young Richter’s painting of an even younger Polke and a once-grimy Brazilian landscape by Frans Post: our pick of the May auctions

The article previews five major lots coming to auction in New York in May 2025, spanning Phillips, Sotheby's, Christie's, and Bonhams. Highlights include Gerhard Richter's 'Mann mit zwei Kindern' (1966), a portrait of Sigmar Polke estimated at $4–6 million; Frans Post's 'View of Olinda with Ruins of the Jesuit Church' (1666), estimated at $6–8 million and expected to break the artist's record; Andy Warhol's 'Big Electric Chair' (1967–68), estimated around $30 million; and Fernando Botero's 'The Bed' (1982), estimated at $700,000–$1 million. Each work is making its auction debut or is a rare market appearance.

Pharrell Williams’s auction platform Joopiter teamed with Martha Stewart for first contemporary art sale

Pharrell Williams's auction platform Joopiter has partnered with Martha Stewart for its first contemporary art sale, titled 'The Contemporary Take,' running through May 6. The 48-lot sale features works by blue-chip artists including George Condo, Jeff Koons, and Ed Ruscha, alongside emerging names like Tschabalala Self and Toyin Ojih Odutola. Stewart personally selected six lots, highlighting pieces by Amy Sherald, Damien Hirst, Ai Weiwei, Louise Bourgeois, Roy Lichtenstein, and Alex Katz. Estimates range from $4,000 to $1.2 million, and early bidding has been active, with works by Amy Sherald and Roy Lichtenstein drawing significant attention.

A Tale of Two Cities: Spring Auctions in Hong Kong and Shanghai

Christie's and Sotheby's held their spring marquee auctions in Hong Kong and Shanghai, timed to coincide with Art Basel Hong Kong for the first time. Christie's evening sale of 20th and 21st century art in Hong Kong achieved HKD 560 million (USD 72 million) with a 95% sell-through rate, led by Jean-Michel Basquiat's *Sabado por la Noche (Saturday Night)* (1984) at HKD 112.6 million. Other highlights included a new artist record for Zhang Enli's *Intimacy* (2002) at HKD 23.4 million, and strong sales for works by Yayoi Kusama, Zao Wou-Ki, and Adrian Ghenie, though most lots sold near their low estimates.

Auction record

A new auction record has been set, with a significant artwork selling for a high price at a major auction house. The sale took place recently, drawing attention from collectors and the art market.

carly murphy art basel collectors

Carly Murphy, Christie’s head of client strategy for the Americas, is leaving the auction house to join Art Basel as global head of collector and institutional relations, a newly created position. She will report to Vincenzo de Bellis, the fair’s chief artistic officer and global director of fairs, and begins later this month. The move comes as the art market faces slowing sales, with global art and antiques sales falling 12% in 2024 to $57.5 billion, according to the latest Art Basel and UBS Art Market Report.

Fair Warning Expands With Saara Pritchard, Doubling Down on ‘Conviction’ in a Crowded Art Market

Loïc Gouzer’s boutique auction app, Fair Warning, is expanding its leadership by appointing Saara Pritchard, a veteran specialist from Christie’s and Sotheby’s, as a partner. Since its 2020 launch, the platform has carved out a niche by rejecting the high-volume model of traditional auction houses in favor of a highly curated, "one work at a time" approach. This strategy has proven lucrative, recently achieving a record $16.7 million for an Andy Warhol portrait and a $4.07 million record for Elizabeth Peyton.

Bank of America ArtTactic Art Market Report 2026 Trends

b of a arttactic art market report 2026 trends

The US art market experienced a 23 percent increase in auction sales in 2025, reaching approximately $3.17 billion according to a joint report by Bank of America and ArtTactic. This growth was not fueled by a rise in general demand but was instead driven by high-value estate consignments, a return to established historical artists, and a heavy reliance on financial guarantees. The data indicates a shift away from the speculative flipping of 'wet paint' contemporary works, which saw negative returns for pieces held for less than five years.

art dealers movie villains

Artnet News examines the recurring trope of art dealers as villains in popular cinema, highlighting seven films that feature duplicitous gallerists, auction house specialists, and art advisors. Examples include Rhodora Haze in *Velvet Buzzsaw* (2019), a ruthless gallerist who profits from a dead artist's work against his dying wish, and Virgil Oldman in *The Best Offer* (2013), an auction house director entangled in forgery and deception. The article also references Victor Taft in *Legal Eagles* (1986), where a performance artist's father's suspicious death drives the plot.

cowley abbott canadian art

Cowley Abbott’s Fall Live Auction of Important Canadian Art will take place on November 26 at Toronto’s Globe and Mail Centre, featuring a curated selection of historical and contemporary Canadian works. Highlights include Jean Paul Riopelle’s *Sans titre* (1950, est. CA$1.2–1.5M), Emily Carr’s *Pole of Harhu* (1912, est. CA$800,000–$1.2M), Lawren Harris’s *Rocky Mountains; Abstract Composition* (est. CA$400,000–$600,000), Jack Bush’s *Awning* (1974, est. $200,000–$300,000), and Jean Paul Lemieux’s *Jeune fille en jaune* (1964). Founded in 2013 as Canada’s first online art auction house, Cowley Abbott has evolved into a hybrid gallery and digital marketplace, with onsite viewing at its Dundas Street West gallery through the auction date.

A New York si è svolta un’asta di oggetti di design con risultati clamorosi (specchi da 30 milioni e altro ancora)

On April 22, 2026, Sotheby's in New York auctioned the first part of the Jean and Terry de Gunzburg collection, comprising around 125 exceptional design and contemporary art pieces. The sale, held at the Breuer Building, achieved a complete sell-out and became the most valuable design auction ever in the United States, totaling $96 million. A highlight was a new auction record for Claude Lalanne: a set of fifteen mirrors originally commissioned by Yves Saint Laurent sold for over $30 million, surpassing the previous record set by her husband François-Xavier Lalanne's Hippopotame Bar.

What the tenth edition of Art Monte-Carlo fair in the Principality of Monaco will be like

Come sarà la decima edizione fiera Art Monte-Carlo nel Principato di Monaco

Art Monte-Carlo, the boutique art fair in the Principality of Monaco, celebrates its tenth edition from April 29 to May 1, 2026 (preview April 28), under the High Patronage of H.S.H. Prince Albert II. The fair will host 26 international galleries of modern and contemporary art at the Grimaldi Forum, moving to new spring dates and coinciding with the Monaco Art Week (April 27–May 1). Newcomers include Italian gallery Secci, Mitterrand from Paris, A&R Fleury, Cecilia Hillström Gallery, Fabienne Levy, Giovanni Martino Projects, Lee & Bae, Ritsch-Fisch Galerie, and Monegasque galleries Hartford Fine Art – Lampronti Gallery and M.F. Toninelli Art Moderne. Returning exhibitors include Almine Rech, Cortesi, Galleria Continua, Suzanne Tarasieve, Semiose, Van de Weghe, Voena, and Wilde. A curated section features a collective exhibition titled "Earthly Delights," curated by Stefano Rabolli Pansera and inspired by Luis Buñuel, centered on a functioning bar as a conceptual and physical space. The fair also includes a public program and talks with figures such as photographer Juergen Teller, auctioneer Simon de Pury, and collector Batia Ofer, and has moved under the influence of Informa Prestige, the luxury division of events company Informa.

A New Antonello da Messina Discovered. It Will Go to Auction in June: Could Sicily Step Forward to Buy It This Time?

Scoperto un nuovo Antonello da Messina. Andrà in asta a giugno: stavolta potrebbe farsi avanti la Sicilia per l’acquisto?

A newly discovered small wooden panel painting, depicting the face of a young beardless saint, has been attributed to the Renaissance master Antonello da Messina. The work, a fragment of a lost composition, will be auctioned on June 16 by Parisian auction house Ader alongside a signed early work by Peter Paul Rubens. Both come from an anonymous collector who purchased them in France decades ago.

Marc Chagall | Île Saint-Louis (1959) (1959) | For Sale

Marc Chagall's lithograph *Île Saint-Louis (1959)*, a limited-edition print in colors on Arches paper signed and numbered by the artist, is being offered for sale through an online auction hosted by LLB Auction on Artsy. The work, estimated at €10,000–€15,000, is part of a Contemporary Art Spring 2026 sale and carries a starting bid of €9,000. The listing includes provenance details, a condition report option, and a buyer's premium.

A landmark exhibition of Jean-Michel Basquiat's early works is coming to Brooklyn this May

The Bishop Gallery in Brooklyn will host a landmark exhibition titled "Our Friend, Jean: Early Works of Jean-Michel Basquiat" during New York Art Week this May. The show features rare early pieces and intimate photographs from the collection of Alexis Adler, who lived with Basquiat between 1979 and 1980. The exhibition focuses on the artist's formative years, showcasing works created on unconventional surfaces like doors and furniture before his rise to global stardom.

13 modern chair designs that remain utterly timeless

A recent Christie's online auction, 'Modern Collector: Design and Tiffany,' featured a range of iconic 20th-century chair designs that achieved significant sale prices. Highlights included Gaetano Pesce's 'Nobody's Perfect' series chair selling for $6,350, Hans J. Wegner's 'Valet' Chair for $8,255, and a set of four Ludwig Mies van der Rohe MR10 chairs for $5,334.

Singapore Art Week captures the many sides of this multi-faceted city

Singapore Art Week (SAW) 2026 showcases the city-state's multifaceted identity through a diverse range of artistic offerings. Highlights include the second iteration of Wan Hai Hotel, adapted from Shanghai's Rockbund Art Museum, which explores themes of water, migration, and diaspora with artists like Ho Tzu Nyen, Dawn Ng, and Robert Zhao Renhui. The premier art fair Art SG (23-25 January) runs alongside S.E.A. Focus, aiming to boost market access and solidify Singapore as a hub for Southeast Asian art.

Art, Ambition and Atmosphere: Inside Dallas Contemporary’s Annual Gala

Dallas Contemporary held its annual gala and benefit auction on a balmy night, raising over $1 million. The event, presented by Headington Companies and board president Ann McReynolds with John McReynolds, featured a live auction led by Christie’s Brett Sherlock, a runway show by students from Booker T. Washington School for the Performing Arts, and a surprise donation from painter Francisco Moreno. Guests included philanthropist Grace Cook, collector Marguerite Hoffman, artist Vicki Meek, and museum director Jeremy Strick, among others.

Asian painters were ‘othered’ in Paris a century ago. Now, the art world is taking note

A new exhibition at Singapore's National Gallery, "City of Others: Asian Artists in Paris, 1920s-1940s," highlights the experiences of Asian painters who worked in Paris during the interwar period. These artists, including Le Pho, Sanyu, Tsuguharu Foujita, Liu Kang, and Georgette Chen, faced marginalization and exoticized expectations from European critics, who dismissed their work as either not "Asian" enough or insufficiently Western. Despite these challenges, they produced significant bodies of work blending Eastern and Western traditions.

Comment | Trims to Sotheby's African Modern and contemporary art department are just one unwelcome sign for this previously healthy market

Sotheby's has disbanded its dedicated African Modern and contemporary art department, a move that comes as auction sales in the category plummeted 45% in 2024 to $43.9 million, according to an ArtTactic report. The department, launched in 2016 with specialist Hannah O'Leary from Bonhams, was a major boost for the sector, but its small sales totals made it vulnerable during Sotheby's wider cost-cutting. O'Leary will now integrate African art into broader contemporary and Modern auctions, while other houses like Bonhams and Strauss continue to hold dedicated sales, focusing increasingly on 20th-century artists.

Art from the Bass House by Paul Rudolph

Christie's will offer exceptional works from the Bass House in Fort Worth, Texas, designed by architect Paul Rudolph for Anne and Sid Bass in 1970. The single-owner sale, titled "Art from the Bass House," will be held on 12 May 2025, headlined by a rare Mark Rothko painting from 1950-1951, along with works by Ellsworth Kelly, Alexander Calder, and Frank Stella. The collection will be presented within the 20th Century Evening Sale and the Post-War & Contemporary Art Day Sale, continuing the Bass collection's presence at Christie's after the record-breaking 2022 sale of The Collection of Anne H. Bass.

Basquiat's family portrait painting could bring $30m at Christie's auction

Christie's will offer Jean-Michel Basquiat's 1982 painting *Baby Boom* as a highlight of its 21st century evening sale this May, with an estimate of $20–30 million. The work, a stylized family portrait believed to depict Basquiat with his parents, was first shown at his landmark Fun Gallery solo exhibition in 1982 and has been featured in major retrospectives at the Brooklyn Museum, Fondation Beyeler, and Fondation Louis Vuitton. Previously owned by collector Peter Brant—who bought it for $1 million in 2001—the painting was later offered at Levy Gorvy's Art Basel stand in 2017 for $30 million.

New Jersey Father and Daughter Plead Guilty to $2 M. Counterfeit Art Scheme

Two New Jersey residents, Erwin Bankowski and his daughter Karolina Bankowska, pleaded guilty to running a counterfeit art scheme that funneled over 200 fake works into the legitimate market between 2020 and 2025. The pair consigned forgeries attributed to artists including Andy Warhol, Pablo Picasso, Banksy, and Luiseño artist Fritz Scholder to galleries and auction houses across the United States, defrauding buyers of at least $2 million. They fabricated ownership histories, forged gallery stamps and certificates of authenticity using antique books and aged paper, and now face up to 20 years in prison plus restitution.

Pinakothek in Munich Returns Nazi-Looted Painting by Lesser Ury to Jewish Heirs

The Pinakothek museums in Munich have restituted a painting by German-Jewish Impressionist Lesser Ury to the heirs of its original owner, Berlin banker Curt Goldschmidt. The work, 'Interior with Children (The Siblings),' was sold at a forced auction in the 1930s after the Goldschmidt family bank collapsed under Nazi economic policies.

A $30 Million Trove of Minimalist Masterpieces Is Heading to Christie’s

The estate of the late collector Henry S. McNeil Jr. is bringing his significant collection of Minimalist art to auction at Christie's in New York this spring. The trove, assembled over decades and lived with in a Philadelphia townhouse, includes major works by Carl Andre, Dan Flavin, Donald Judd, and Sol LeWitt, and is expected to fetch around $30 million.