Morgan Stanley and Artnet have released an Intelligence Report analyzing the explosive growth of the ultra-contemporary art market—defined as work by artists born after 1974. Auction sales in this category surged 305% from 2019 to 2021, reaching $742.2 million last year, driven by strong demand in the U.S. and China. The report breaks down sales by region, price band, and leading artists, highlighting how galleries, fairs, museums, and collectors are capitalizing on this trend.
This analysis matters because it quantifies a seismic shift in the art market: ultra-contemporary art has outpaced all other segments, even during the pandemic. The concentration of sales in just two markets—the U.S. and China—and the emergence of million-dollar price points for young artists signal a fundamental change in collector behavior and investment patterns. The report provides critical data for dealers, advisors, and institutions navigating this fast-moving sector.