Global art sales grew 4% in 2025 but remain below pre-pandemic levels, Art Basel and UBS report finds

"Global art sales grew modestly in 2025 after two consecutive years of decline, rising by 4% to an estimated $59.6bn, the report finds. This uptick was largely driven by high-end sales, with a 9% increase in the combined value of auction turnover above $10m, a category that had nosedived in 2023 after geopolitical turbulence dissuaded many collectors from consigning top works."

"There should be little surprise amid ongoing wars and trade disputes that geopolitical and economic instability ranks as the number one concern for the art trade, as per the latest edition of Art Basel and UBS's Art Market Report. The 2025 edition of the benchmark survey of art dealerships and auction houses paints a picture of an industry slowly adapting to mounting uncertainty and operational costs."

"Compared to the auction houses, gains by dealers were more measured, with gallery sales rising on average by 2% year-on-year to an estimated $34.8bn, accounting for 58% of the total market. At the very highest end, galleries with an annual turnover of more than $10m reported a 3% increase. The rebound was more pronounced in the lower tiers: dealers with a turnover of between $250,000 to $500,000 a year enjoyed a 25% average boost in sales."

The 2025 Art Basel and UBS Art Market Report reveals global art sales increased 4% to $59.6bn, recovering from two consecutive years of decline. High-end auction sales above $10m surged 9%, with notable transactions like Klimt's Portrait of Elisabeth Lederer selling for $236m. However, the market remains below its 2023 peak of $67.8bn and 2014 all-time high of $68.2bn. Dealer gallery sales rose modestly by 2% to $34.8bn, representing 58% of total market value. While smaller dealers earning $250,000-$500,000 annually saw 25% sales increases, the industry faces mounting challenges. Geopolitical and economic instability ranks as the top concern, with rising operational costs squeezing profit margins across the sector.

Read at The Art Newspaper - International art news and events