While headlines speak of decline, the art market in 2025 tells a more nuanced story. The recently released Art Basel and UBS Global Art Market Report reveals a shift in momentum—one that challenges long-held assumptions about where the real energy lies in the art world.
Sales Down, But the Story Isn’t One of Collapse
According to the report, global art sales in 2024 declined by 4% compared to the previous year, falling to $64.7 billion. The contraction is sharpest in the ultra-high-end sector—where multimillion-dollar sales are fewer and auction houses are feeling the pinch.
But that’s only part of the picture
The mid-range and lower-price segments are holding steady—and in some cases, growing. Works under $50,000 accounted for a significant portion of sales, indicating that the market remains vibrant, just differently distributed.
The Digital Advantage: Online Sales Are Here to Stay
Online sales have stabilized at $11.8 billion, making up 18% of total market value. Digital platforms are no longer a backup plan—they’re a permanent fixture. Collectors continue to appreciate the convenience, transparency, and global access that online sales provide.
The data shows that hybrid formats (physical + digital) are becoming the norm, with even major auction houses leaning into tech-driven experiences and new ways to engage younger audiences.
New Collectors, New Priorities
One of the most encouraging trends is the growth of a new, diverse collector base. Millennial and Gen Z buyers are showing up in greater numbers, driven by values like sustainability, inclusion, and the desire for meaningful cultural experiences.
These collectors are more likely to discover artists through social media, prefer transparent pricing, and are open to acquiring works from emerging names—fueling demand in lower-price brackets and shaping the future of collecting.
France, U.S., and Beyond: Market Conditions by Region
France continues to shine with robust auction activity, particularly in Paris, which remains a growing hub for both modern and contemporary sales. Meanwhile, the U.S. art market faces uncertainty due to newly introduced tariffs that affect the broader luxury sector.
Yet despite macroeconomic pressures, smaller fairs, independent projects, and decentralized platforms are driving innovation—reshaping not just how art is sold, but who participates in the conversation.
2025: Not a Crisis, But a Turning Point
The art market isn’t crashing—it’s evolving. And this evolution favors agility, transparency, and community.
Galleries that embrace hybrid models, curators with an international lens, and platforms that speak to emerging audiences are not only surviving but thriving. As the top-end recalibrates, the rest of the market is finding its rhythm.
Final Thought
So, let’s stop framing this as a downturn. What we’re seeing is a market rebalancing, not collapsing. It’s less about the top 1% now, and more about the power of the many.
The future belongs to those who embrace change, who make art—and collecting—more inclusive, more dynamic, and more human.