Global Art Market to Grow for First Time in Three Years in 2025, Outlook Improves = UBS
According to a UBS and Art Basel report, the global art market is expected to grow for the first time in three years in 2025, boosting industry optimism.Summary
A joint annual report by Swiss financial giant UBS and the art fair Art Basel indicates that the global art market is projected to grow for the first time in three years in 2025. Dealers anticipating an increase in 2026 rose to 43% of the total, up from 33% the previous year, following an estimated $59.6 billion in sales, a 4% increase. However, the introduction of US tariffs is complicating cross-border transactions, putting significant pressure on dealers' operations. Claire McAndrew, founder of Arts Economics and author of the report, notes that 2025 was a welcome turnaround for the art market, but cautions that the geopolitical environment remains unstable, particularly regarding cross-border trade, and the full extent of the impact will not be clear until 2026. Growth was driven by increased auction sales and activity in the top market, the United States, with China and the United Kingdom experiencing more modest growth.
(Source：Reuters)