After two years of contraction, the global art market returned to positive growth in 2025.According to the Global Art Market Report 2026, published this morning, March 12, by Art Basel and UBS, global sales grew by 4% to reach $59.6 billion. This moderate recovery comes amid an uncertain geopolitical climate marked by ongoing trade tensions.
The dealer sector recorded a 2% year-on-year increase, totaling $34.8 billion, while public auction sales jumped 9% to $20.7 billion. Conversely, private sales declined 5% to just under $4.2 billion. Despite this positive turnaround, the market remains below its 2022 peak and continues to suffer from negative factors such as rising operating costs, tariffs, and certain trade barriers.
Nevertheless, transaction volume confirms an increase in activity: approximately 41.5 million works changed hands in 2025, a 2% increase over the previous year. The high-end segment contributed particularly to this recovery. In the United States, the number of artworks sold at auction for more than $10 million increased by nearly 40%.
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The United States as the World's Leading Market
The United States remains by far the world's leading market, accounting for 44% of sales, or approximately $26 billion, up 5%. The United Kingdom retains its second position with $10.5 billion in sales, while China now ranks third with $8.5 billion in transactions. France stands out after these three countries with remarkable growth: the market benefited from a 9% increase to reach $4.5 billion, confirming its status as the leading market in the European Union.
On the buyer side, dynamics are changing significantly. The rise in administrative, tax, and logistical costs associated with international transactions has resulted in a refocusing on local collectors. Among galleries with annual revenues of less than $250,000, domestic sales now account for 71% of total sales. Even large galleries with sales exceeding $10 million are seeing an increase in the share of local buyers, now at 29%.
Faced with a shrinking collector base, attracting new buyers has become a strategic challenge for art market players. In 2025, nearly half (49%) of gallery customers were new, compared to 44% in 2024. This trend is particularly pronounced among smaller galleries, where new buyers now account for 60% of the clientele.
While the global art market appears to be entering a new cycle of growth, economic uncertainties could still weigh on its future development.
Key Points
• The global art market rebounded in 2025 with a 4% increase in sales, reaching $59.6 billion.
• The recovery is mainly driven by public auctions (+9%), while galleries are growing slightly (+2%) and private sales are declining (-5%).
• The high-end segment is boosting the market, particularly in the United States, where sales of works priced at over $10 million have increased by around 40%.
• The United States remains the world's leading art market (44% of sales), ahead of the United Kingdom and China, while France has become the leading market in the European Union.
• Galleries are relying more on local buyers and new collectors, who accounted for 49% of their clientele in 2025.
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