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The Art Basel and UBS Global Art Market Report 2026, authored by Dr. Clare McAndrew of Arts Economics has just been released and it is signalling a cautiously optimistic turn for the art trade. The global art market grew by 4% year-on-year to an estimated USD 59.6 billion, after two challenging years. Whereas weakness at the top end had dragged global values down in 2024, the 2025 uptick was led by renewed activity at the high end and a rebound in public auction sales. The report also noted strong auction results, an increase in art fair sales, and greater gender parity in gallery representation. However, performance across regions and segments was uneven, as the art market navigated trade policy unpredictability associated with US tariffs and global inflation. Online sales, a promising new channel in recent times for dealers and auction houses alike, were also found to be losing momentum as transactions migrated back to in-person channels.
Here are seven takeaways. The Art Basel and UBS Global Art Market Report 2026 can be downloaded for free here.
1. The global art market returned to growth amid ongoing recalibration
Sales in the global art market increased by 4% year-on-year to an estimated USD 59.6 billion. While this marked a welcome shift in the direction of the market following two consecutive years of declining values, the recovery was moderate, leaving the market below its 2022 peak. Combined public and private sales at auction houses rose by 6% to USD 24.8 billion, while the dealer sector rose by 2% globally to an estimated USD 34.8 billion. Despite the growth, tariffs, geopolitical volatility, and increased costs continued to weigh on trade.
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