art investing market trends art basel report

Art advisor Ralph DeLuca returns to his Street Smarts column to dissect the 2026 Art Basel & UBS Art Market Report. He notes that global art sales reached approximately $59.6 billion in 2025, a 4% increase after two down years, but cautions that the recovery is uneven—sales of artworks above $10 million rose 30%, while the middle market stagnates. The U.S. remains the dominant market, accounting for 44% of global sales, though tariff threats and political volatility continue to disrupt the trade.