Despite crises and geopolitical uncertainties, the global art market returned to growth in 2025, according to the annual Art Market Report issued on Thursday by Swiss bank UBS and Art Basel.
"The global art market returned to growth in 2025, led by renewed confidence at the high end, with dealer sales up 2% year-on-year and public auction sales rising 9% by value," UBS and Art Basel said in a statement.
The annual report, which is considered the authoritative analysis of the global art market, said 2025 marked a turning point after several years of decline and moderate growth.
Compared to many other industries, the global art market has shown remarkable resilience, it added.
A review of published gallery activity based on media announcements showed that despite high-profile gallery closures in 2025, there was no evidence that closures outpaced openings overall.
Gallery launches represented 42% of reported activity, compared with 25% closures, underscoring continued adaptation and resilience within the dealer sector.
In terms of gender representation, women artists comprised 50% of total artists among primary market galleries and 45% across all dealers.
Works by women accounted for 37% of sales by value, up from 28% in 2018, although disparities persist at the highest revenue levels, according to the report.
The United States remained the world’s largest art market, accounting for 44% of global sales, followed by Britain with 18% and China with 14%.
France increased its share to 8%, remaining the largest art market within the European Union.
Sales in Germany fell by 10%, while Italy recorded a 2% decline, according to the report. - dpa
