The sixth edition of the Art Business Conference took place in Midtown Manhattan on May 22, drawing over 200 art professionals including gallery staff, auction-house specialists, and lawyers. Chaired by former Artnet executive editor Julia Halperin and founded by Louise Hamlin, the event featured keynotes and panels addressing the state of the art market, legal challenges, and the impact of tariffs. Christie’s CEO Bonnie Brennan reported a $700 million haul from recent auctions, noting a thin top end but strong activity for female Surrealists and Simone Leigh sculptures. Advisors Megan Fox Kelly and Alex Glauber described the market as 'recalibrating' rather than in crisis, with buyers showing increased selectivity.
The conference highlighted two major concerns: market recalibration amid economic uncertainty and the disruptive effect of U.S. tariffs on the art trade. While most artworks remain exempt, panelists including Kinsey Robb of the Art Dealers Association of America and attorney Wendy Lindstrom noted gray areas affecting raw materials, fabrication, and customs compliance. Tariffs based on country of origin create complications—for example, a French artist’s work made in China is taxed as Chinese art. These uncertainties are forcing galleries to rethink international fair participation and navigate a volatile policy landscape, underscoring the art world’s vulnerability to broader economic and political forces.