The global art market regained momentum in 2025, led by renewed confidence at the high end.

According to the Art Basel and UBS Global Art Market Report 2026, global art sales rose 4 percent to US$59.6 billion in the past year, marking the sector's return to growth after a contraction in 2024.

The United States, the United Kingdom and China accounted for 76 percent of global art sales by value, in line with 2024.

"China maintained its position as one of the world's leading art markets while Hong Kong continues to play a central role in the Asia art ecosystem with several high‑value sales and early signs of macroeconomic stabilisation this year," said Adrian Zuercher, chief information officer at UBS Global Wealth Management.

In China, art sales increased just over one percent year on year to US$8.5 billion.

The report also shows confidence strengthened heading into 2026, with 43 percent of dealers expecting sales to improve and 38 percent anticipating stable performance.

Sentiment also improved among mid-tier auction houses, reflecting greater optimism amid ongoing economic and geopolitical uncertainty.

"Although elevated costs, geopolitical uncertainty and tariff concerns are still affecting business, buyer confidence improved as the year progressed and the year closed with a succession of dynamic sales moments," said Art Basel chief executive Noah Horowitz.

Clare McAndrew, founder of Arts Economics, noted that some categories of art were relatively insulated from the direct effects of tariffs.

Broader policy uncertainty and trade fragmentation, she added, created challenges for businesses, affecting pricing and supply.

"A wider shift towards protectionism and more domestically focused sales also pose longer-term risks, as the art trade relies heavily on international circulation and access to global audiences," McAndrew said.



Edited by Thomas McAlinden