The global art market returned to growth in 2025, reaching $59.6 billion in sales according to the latest Art Basel and UBS Art Market Report. This 4 percent increase ended a two-year decline, driven primarily by a 9 percent surge in public auction sales and a significant revival in high-value transactions for works priced over $10 million. While the United States maintained its dominant 44 percent market share, the recovery was uneven, with the Impressionist and Old Masters sectors seeing major gains while Postwar and Contemporary art continued to cool.
This report highlights a widening divide between the 'trophy' market and the rest of the industry, as growth was largely concentrated in a small number of expensive works rather than a surge in transaction volume. While Art Basel CEO Noah Horowitz noted returning confidence, the data reveals a more cautious collector base gravitating toward historically established artists. Furthermore, galleries face a squeeze as rising operating costs for logistics and art fairs are currently outpacing their modest 2 percent sales growth, signaling a challenging environment for mid-tier dealers.