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trending_up market schedule Dec 18, 2025 visibility 35 link 13 artists, 20 galleries

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.

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rare dinosaur skeleton christies auction 1234760599

Christie’s will auction a rare 68-million-year-old Caenagnathid dinosaur skeleton nicknamed 'Spike' at its inaugural 'Groundbreakers: Icons of Our Time' sale in London on December 11. Discovered in 2022, the sub-adult specimen is one of the most complete of its kind, with over 100 preserved fossil bones, and may represent a new species. It is estimated to fetch between £3 million and £5 million ($4 million to $6.6 million), marking the first time a Caenagnathid Oviraptorosaur has been offered at auction.