Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

Contemporary Art Market Declines For Fourth Straight Year, as Old Masters and Impressionist Works Rebound: Art Basel UBS Report

The contemporary art market has declined for the fourth consecutive year, with auction sales for postwar and contemporary works falling to $4.5 billion in 2025 from a peak of $8.5 billion in 2021. Simultaneously, the market has seen a significant rebound in more established categories, with auction sales of Impressionist and Post-Impressionist works rising 47% and Old Masters climbing 30% last year.

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The White House published an article on its website denouncing a range of artworks, exhibitions, and objects at the Smithsonian Institution, continuing President Donald Trump's protest against the museum network. The list included previously criticized shows, such as one about sculptures as signifiers of power at the Smithsonian American Art Museum, and the National Museum of African American History and Culture's displays on 'white dominant culture.' It also named new targets: a painting of a Black trans woman as the Statue of Liberty by Amy Sherald (which was pulled from a National Portrait Gallery show due to alleged censorship), Rigoberto A. González's 2022 painting 'Refugees Crossing the Border Wall into South Texas,' a stop-motion portrait of Anthony Fauci commissioned by the National Portrait Gallery, and a papier-mâché Statue of Liberty from a workers' rights protest. The administration also objected to wall texts at the National Museum of the American Latino and the National Museum of American History's LGBTQ+ History display.

smithsonian american history museum trump impeachment display

The Smithsonian's National Museum of American History has restored a placard for President Donald Trump to its impeachment display, updating it with new information. The change follows controversy after a temporary placard mentioning Trump was removed, which drew criticism from Democratic leaders and concerns about political interference at the Smithsonian. The museum stated the removal was due to the placard not meeting standards in appearance and presentation, and that no administration requested the change.

smithsonians african american history museum removed objects

Two lenders to the National Museum of African American History and Culture (NMAAHC) reported that their objects were removed from the museum’s galleries earlier than expected, raising concerns about the influence of President Trump’s recent executive order targeting “anti-American content” in Smithsonian museums. Amos C. Brown, a civil rights activist and pastor, lent a 1880 book on Black history and his father’s Bible, which Martin Luther King Jr. carried during protests; the museum cited the loan’s May expiration as the reason for removal. Liz Brazelton, who lent the diary of her great-great-grandfather—a lawyer who worked on behalf of Solomon Northup—said the diary was returned in March, six months before a 10-year loan agreement was set to end in September, with the museum citing an “internal gallery rotation schedule.” At least 32 objects have reportedly been removed, though the museum denied planned removals.

19 New Exhibits Coming to the Smithsonian Museums in 2026

The Smithsonian Institution has announced 19 new exhibitions opening across its museums in 2026, including shows at the African American History and Culture Museum, African Art Museum, Air and Space Museum, American Art Museum, American History Museum, and Asian Art Museum. Highlights include Nick Cave's immersive installation "Mammoth" at the American Art Museum, a photography survey of the U.S. Bicentennial, and a major reopening of the Air and Space Museum's final seven galleries after eight years of renovations. Several exhibitions tie into the nation's 250th anniversary, while others explore LGBTQ+ African art, HBCU collections, salsa music history, and contemporary water-themed paintings by Hiroshi Senju and Bingyi.

‘It takes an entire museum to do it justice’: the Smithsonian celebrates America in 250 objects

The Smithsonian National Museum of American History in Washington DC is marking the 250th anniversary of US independence with a major exhibition titled "In Pursuit of Life, Liberty & Happiness," opening on 14 May. The show displays 250 objects spanning all three floors of the museum, ranging from a Revolutionary War-era gunboat (the Philadelphia) to a Donald Trump "Make America great again" hat. Seventy-six rarely seen objects are concentrated in entry hall cases, while the rest are embedded throughout existing galleries, connected by a "ribbon" design. Director Anthea Hartig frames the exhibition as a commemoration of moments where individuals and communities fought for recognition and identity, pairing each object with an action verb to emphasize democracy as participatory.

Lawsuit Alleges DOGE Cancelled $349,000 HVAC Grant to Museum after ChatGPT Flagged It As DEI

Lawsuit Alleges DOGE Cancelled $349,000 HVAC Grant to Museum after ChatGPT Flagged It As DEI

The High Point Museum in North Carolina had a $349,000 federal grant to replace its HVAC system canceled after staff at the Department of Government Efficiency (DOGE) used ChatGPT to evaluate the proposal. According to a federal lawsuit, the AI chatbot flagged the climate-control project as related to diversity, equity, and inclusion (DEI) initiatives, leading to its termination, despite the grant's stated purpose of preserving the museum's collection.