Female artists and new buyers breathe life into the art market

The global art market contracted by 12% in 2024, falling to an estimated $57.5 billion in sales from its 2022 peak, according to the Art Basel and UBS Art Market Report 2025 compiled by Dr. Clare McAndrew. Despite the overall decline, the number of transactions grew by 3%, driven by a broadening collector base and increased engagement with more affordable works. The report highlights a surge in interest in female artists, with galleries raising their representation to 41%, and notes that art fairs remain the most common entry point for new buyers. The Aotearoa Art Fair, opening May 1-4 at Auckland's Viaduct Events Centre, exemplifies these trends with strong Indigenous and Pacific representation, emerging artist platforms like Horizons 2025, and affordable works under $5,000 from established galleries such as Gow Langsford Gallery.