new money new taste intel report march 2025

The article, part of Artnet's Intelligence Report, profiles the rise of a new generation of art collectors, exemplified by Justine Freeman, granddaughter of legendary patron Betty Freeman. It highlights how millennials and Gen Z, who accounted for a quarter to a third of bidders at major auction houses in 2024, are reshaping the market by focusing on ultra-contemporary artists like Jadé Fadojutimi and Hilary Pecis, as well as nontraditional collectibles such as sneakers and Hermès bags. Notable sales include Maurizio Cattelan's banana artwork "Comedian" for $6.2 million to a 34-year-old crypto entrepreneur.

photo london photography market sales

The tenth edition of Photo London opened at Somerset House, marking a decade of growth for the UK's largest photography fair. The fair, running through May 18, has become a key event for the photography market, which has shown resilience despite broader art market declines. While global auction sales for photography dropped 5.6% in 2024 to $59 million, this was far less severe than the 27% overall art market decline, and sales volumes remained near record highs. New director Sophie Parker and cofounder Michael Benson highlighted growing interest from young collectors, though challenges remain as established galleries face an aging collector base and market uncertainty.

new york fair 2025 new buyers sales

Independent 20th Century, a New York art fair held September 4–7 at Casa Cipriani, reported that 74% of buyers were new clients of participating dealers, with 100 works sold—up from 87 in 2024. The highest sale was Ilya Kabakov's *Colourful Noise #2* for $650,000 at Galerie Brigitte Schenk, a 65% increase over last year's top sale. Nine of 30 exhibitors sold out their booths, and institutions acquired 18 works, compared to three in 2024. The fair also announced its 2026 edition will move to Sotheby's new headquarters in the Breuer building, marking a first-of-its-kind collaboration between a contemporary art fair and an auction house.

design market report 2025 auction results tiffany lalanne

Amid a sluggish broader art market, the design category is surging. Major auction houses—Sotheby’s, Christie’s, and Phillips—held design sales in early June 2025 that far exceeded expectations. Sotheby’s New York design sales totaled $37.5 million, Christie’s $23.6 million, and Phillips $4 million, representing a 62.3 percent year-on-year increase across all three houses. Notable highlights include the Goddard Memorial Window by Tiffany Studios, which sold for $4.29 million, the second-highest price for a Tiffany window at auction. The sales attracted many new buyers, with Sotheby’s and Phillips reporting over 20 percent of buyers were new to the houses.

‘Really encouraging’: Phillips’s modern and contemporary sale continues New York auction momentum

Phillips’s modern and contemporary evening sale on 19 November generated nearly $54.8 million ($67.3 million with fees), a 25% increase over the same sale last year. Out of 33 lots, only two failed to sell, achieving a 94% sell-through rate. The top lot was Francis Bacon’s *Study for Head of Isabel Rawsthorne and George Dyer* (1967), which hammered at $13.5 million, followed by an untitled Joan Mitchell work from 1957-58 at $12 million. The sale also included natural history objects for the first time, such as a juvenile Triceratops skeleton nicknamed 'Cera,' which sold for $4.35 million. Female artists performed strongly, with Ruth Asawa’s copper wire sculptures sparking lengthy bidding wars and Firelei Báez setting a new artist record that was later broken at Christie’s the same evening.

christies h1 2025 auction sales report

Christie’s announced a projected sales total of $2.1 billion for the first half of 2025, matching its H1-2024 figure. While art categories like Impressionist, modern, and Old Masters saw modest growth—Old Masters sales rose 15% to $55 million—luxury categories (handbags, watches, cars, jewelry) surged nearly 30% to $468 million, now accounting for 22% of the total. Notable sales included René Magritte’s *La reconnaissance infinite* (1933) for £10.3 million and Piet Mondrian’s *Composition with Large Red Plane, Bluish Grey, Yellow, Black, and Blue* (1922) for $46.7 million. Guaranteed lots remained low at 1.5%, and the sell-through rate held steady at 88%.

the view from paula tsai

Paula Tsai, a key figure in Asia's art market, discusses the evolving landscape of collecting in the region, focusing on mainland China and Korea. She notes a surge of new buyers from China, many of whom are young entrepreneurs, while the Korean market remains more mature and stable. Tsai addresses the impact of tariffs on importing art, particularly for Chinese collectors, but asserts that passionate collectors will continue to buy, adjusting timing rather than abandoning purchases. She also highlights the growing Thai market and the complexity of the Chinese market, where established collectors are cautious but new entrants keep activity high.

Major collection of Indian paintings and calligraphy to be offered at Christie's

Christie's London will auction a major collection of Indian paintings and calligraphy from the Seattle-based collectors Mary and Cheney Cowles on April 28, with an estimated total exceeding £1.5 million. The sale is dominated by Mughal-era works from the 16th to 19th centuries, including a highlight piece from the Fraser Album estimated at £180,000, and features rare examples of "Mughal Occidentalism" where court artists incorporated European motifs.

India’s art market is fast growing—is it also maturing?

The third edition of Art Mumbai (13-16 November) saw strong sales and record auction prices for Indian Modernists, including MF Husain's *Gram Yatra* (1953) becoming the first Indian painting to sell for over $10 million. The fair, held amid surging private wealth in India, featured leading contemporary galleries reporting up to 90% sales on opening day, with works priced from $1,000 to $300,000. A recent reduction in India's goods and service tax on art from 12% to 5% has further boosted the market.

Record Prices, New Buyers and Global Reach: Design’s Moment Has Arrived

Global auction sales for design, decorative arts, and furniture surged 20.4 percent to $172 million in the first half of 2025, according to ArtTactic, while other art market segments declined. Sotheby’s design sales in New York and Paris reached $75 million combined, among the highest totals ever for the category, with Christie’s and Phillips also posting strong results. Record prices were set for works by Tiffany Studios, including the Danner Memorial Window ($12.4 million) and a Frank Lloyd Wright lamp ($7.5 million), fueled by new and younger buyers and institutional acquisitions.

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.

Art Paris: A Better Result Than Expected

Art Paris, un bilan meilleur que prévu

The 28th edition of Art Paris concluded with stronger-than-expected sales despite a sluggish start and a volatile global climate. Featuring 165 galleries, the fair solidified its position as a key regional event for French collectors, offering a price range typically between €10,000 and €40,000. While mega-galleries like Almine Rech participated with accessible works, the fair also welcomed newcomers like Esther Schipper and In Situ-Fabienne Leclerc, who reported positive results across various media including ceramics, photography, and painting.

6 Questions Every New Art Buyer Should Ask a Gallery

Annabel Keenan's article offers practical guidance for first-time art buyers navigating the gallery system. It outlines six essential questions to ask galleries, covering price transparency, provenance, and the artist's market context. The piece features insights from gallery director Joseph Clarke of Anima Mundi, collector and MCA Chicago trustee Ellen-Blair Chube, and gallerist Madelyn Jordon of Madelyn Jordon Fine Art, who emphasize that asking questions is key to building confidence and knowledge as a collector.

art market price increase 2025

The article examines the paradox of rising art prices despite a contracting market. The global art trade shrank by 12% in 2024, according to the Art Basel/UBS Art Market report, and financial volatility from trade wars has further depressed conditions. Yet dealers resist lowering prices, fearing that doing so would signal decreased value. Collectors like Jeff Magid argue that entry-level prices—often tens of thousands of dollars—are shutting out new buyers, and artists sometimes must leave their galleries to restart at lower price points. The upcoming Frieze New York fair will test whether this pricing strategy holds.

‘Everyone benefits’: Art Basel’s chief on the new Paris VVIP slot and the viability of its Qatar fair

Art Basel Paris held its fourth edition with a new VIP preview slot called Avant Première, where galleries nominated six key collectors to enter the fair on Tuesday afternoon before the main opening. Major sales were reported, including a $23 million Gerhard Richter painting at Hauser & Wirth, a Modigliani for nearly $10 million at Pace, and a $7.5 million Ruth Asawa sculpture at David Zwirner. CEO Noah Horowitz discussed the rationale for the exclusive preview, the renaming of the VIP relations team to 'collector and institutional relations,' and the viability of the upcoming Art Basel Qatar fair amid growing competition in the Gulf region.

Online Auctions Continue to Draw in First-Time Art Buyers as Sales Grow

Online-only sales of fine art at Christie’s, Sotheby’s, Phillips, Bonhams, and Artnet Auctions reached $423.9 million in 2025, an 8 percent increase from 2024. The number of lots sold remained steady at 29,623, but the average price per work rose 8.6 percent to $14,309. Sales were 270 percent higher than in 2019, before the pandemic accelerated the shift to digital auctions. Christie’s reported that 63 percent of new buyers in 2025 made their first purchase online.

christies 2025 sales results analysis

Christie's closed 2025 with $6.2 billion in projected global sales, a nearly seven percent increase from $5.8 billion in 2024 and in line with its 2023 total. Auction sales reached $4.7 billion, up eight percent year-over-year, while private sales held steady at $1.5 billion. The year's top lot was Mark Rothko's *No. 31 (Yellow Stripe)*, which sold for $62.1 million in New York. Other highlights include a record Picasso sale in Hong Kong ($25.4 million) and the Fabergé Winter Egg in London (£22.9 million). The house also saw strong performance from its automobiles business, Gooding Christie's, which delivered $234 million in sales. Geographically, the Americas grew 15 percent to $2.58 billion, while Asia-Pacific slipped 5 percent.

artnet auctions contemporary editions jesus rafael soto

Artnet Auctions is offering five works by Venezuelan kinetic and Op art pioneer Jesús Rafael Soto (1923–2005) in its Contemporary Editions sale, open for bidding through May 29, 2025. The lots include *Multiple #4 (from Jai Alai)* (1969, est. $8,000–$12,000), *Permutación (from Serie Sintesis)* (1979, est. $6,000–$8,000), and *Tes Azules y Negras (from Serie Sintesis)* (1979, est. $7,000–$10,000), each exemplifying Soto's signature blend of optical illusion, physical layering, and kinetic elements.

Online-Only Art Auctions Overwhelmingly Succeed in 2025

A new report from Artnet reveals that online-only auctions at Sotheby’s, Christie’s, Phillips, Bonhams, and Artnet Auctions generated $423.9 million in 2025, an 8% increase from 2024. The average price of artworks sold online also rose 8.6% to $14,309, with some platforms like Fair Warning finding success through hyper-specific sales, such as one centered on Andy Warhol’s 1974 portrait of Brigitte Bardot. Christie’s reported that 63% of new buyers made their first purchase online in 2025, where the average price point was $22,700.

Keith Haring | Untitled (1988) | For Sale

A screenprint by Keith Haring, titled *Untitled* (1988), is being offered for sale through Palm Beach Modern Auctions. The limited-edition work on canvas, signed and numbered 111/125, was originally printed for the marriage of Estefania Kong to Lawrence "Dr. Winkie" Lin, who owned the DV8 nightclub in San Francisco where Haring had previously painted murals. The piece has minor condition issues and comes with provenance from Clars Auction in June 2024.

Why is the art market turning Gulf-wards?

The art market is shifting its focus toward the Gulf region, particularly Saudi Arabia and the United Arab Emirates, following a sharp decline in Chinese luxury goods sales (18–20% drop in 2024) and a 31% slump in Chinese art sales. Auction houses like Sotheby’s and Christie’s have established outposts in Saudi Arabia, with Sotheby’s first auction in Diriyah generating $17.3 million and attracting 35% new buyers. The UAE’s tax-haven status and lack of sanctions on Russians have drawn wealthy residents, while Saudi Arabia’s Vision 2030 campaign, led by Mohammed bin Salman, is pouring money into cultural projects such as AlUla, Art Week Riyadh, the Islamic Arts Biennale, and a new teamLab Borderless museum in Jeddah.

Christie's Hong Kong 20th/21st Century Autumn Sales Total: HK$817M / US$106M - Christie's

Christie's Hong Kong held its 20th/21st Century Autumn Auctions on September 26-27, 2025, achieving a total of HK$817 million (US$106 million), the highest value auctions in the Asia market this season. The sales saw a 96% sell-through rate by lot and a hammer price 121% above the low estimate, with collectors from 32 countries participating. The top lot was Picasso's 'Buste de femme', which sold for HK$196.75 million (US$25.4 million), breaking the Asia auction record for the artist. New buyers increased versus last year, with 20% of all buyers being new, over half of whom were Millennials.

Jane Birkin’s original namesake Hermès bag sells for record-breaking €8.6m at Sotheby’s Paris

Sotheby's Paris sold the original Hermès Birkin prototype that belonged to the late actress Jane Birkin for a record-breaking €8.6 million on July 10. The 50-year-old scuffed handbag, which Birkin carried for years, sparked a ten-minute bidding war among nine collectors and ultimately went to a buyer in Japan. The sale far exceeded the previous world record for a handbag at auction, set in 2021.

The Other Art Fair Returns to Dallas with a Lineup of 135 Artists

The Other Art Fair is returning to Dallas for its second edition, taking place at the Fashion Industry Gallery from May 2-5. The event will feature 135 independent and emerging artists, offering them a platform to sell their work directly to the public.

PINTA EXPERIENCE HOW TO TURN CULTURAL TOURISM INTO AN IMMERSION IN THE ART SCENE

Pinta has launched Pinta Experience, a new boutique travel unit offering three-to-five-day immersive programs centered on Latin American art ecosystems. These curated itineraries provide participants with exclusive access to art fairs, private collections, artist studios, and gallery tours, moving beyond traditional cultural tourism to foster direct networking with local curators and gallerists.