Highlights from the Art Basel and UBS Art Market Report 2025
The 2025 Art Basel and UBS Art Market Report, authored by Dr. Clare McAndrew, offers a comprehensive snapshot of the global art market in 2024. Below are key findings relevant to collectors of modern and contemporary art.
Market Dynamics: Resilience Amid Challenges
Global art sales declined by 12% to $57.5 billion, but transaction volumes grew by 3% to 40.5 million.
Growth was driven by increased activity in lower-priced segments, broadening the collector base and shifting focus toward works under $250,000.
Global Trade Shifts: Indirect Impacts on Collecting
The U.S. maintains a First Amendment exemption on art import taxes, supporting cross-border cultural exchange.
However, broader trade tensions and tariffs on non-art goods (like shipping materials) may indirectly impact collectors by increasing ancillary costs and reducing discretionary spending, particularly for mid-tier acquisitions.
Primary Market: Growth for Women Artists
Sales of works by women artists in the primary market increased by 3% year-on-year, reflecting growing demand for diversity and representation.
Auction Trends: Shifts in High-End Sales
Auction sales fell 20% by value but only 4% by volume, indicating fewer high-value transactions.
Private sales at auction houses grew by 2%, while contemporary art at auction declined by 11%, suggesting opportunities in post-war and modern sectors.
Regional Performance: Key Markets to Watch
United States: Remains the largest market (42% of global sales) despite a 10% decline.
China: Sales up 9%, driven by renewed activity in Hong Kong.
United Kingdom: Sales down 8%, but London remains a key hub for established artists.
Online Sales: A Growing Channel
Online art sales rose by 7% to $11.8 billion, making up 18% of total turnover.
Most online transactions involved works priced below $50,000, highlighting the channel’s accessibility.
Looking Ahead: Opportunities for Collectors
Smaller dealerships saw a 17% boost in sales, signaling greater accessibility for new collectors and increased interest in emerging artists.
As geopolitical and economic conditions stabilize, dealers anticipate improved sales.
Key Takeaways for Collectors:
Focus on works under $250,000, where demand is strong.
Consider local markets to offset potential import-related costs.
Explore private sales and digital channels for broader access and flexibility.
For those navigating these evolving dynamics, staying informed and adaptable is essential. Contact Artamour Advisory to discuss how these trends can shape your collection strategy.