art market minute jan 12 2736336

Artnet's Price Database reveals signs of recovery at the top end of the art market in 2025, following three years of contraction. The article highlights gains in high-value sales, exemplified by Gustav Klimt's "Bildnis Elisabeth Lederer" pictured at Sotheby's Marquee Sales Series in New York. It also notes a growing trend of small and emerging galleries working with artists' estates, and reports that roughly half of art-backed loans by non-bank businesses defaulted in 2024.