UBS: Global Art Market Rebounds After Two Years of Decline
Following two consecutive years of decline in sales, the global art market has returned to growth in 2025, according to a UBS report, though there are looming concerns, including political unpredictability.
In 2025, sales in the global art market saw a 4 percent year-on-year increase to an estimated $59.6 billion, according to «The Art Basel and UBS Global Art Market Report 2026». While this marks a rebound after two consecutive years of decline, it remains below the peak in 2022.
The US was the global leader, accounting for 14 percent of global sales, followed by the UK (18 percent) and China (14 percent).
Policy Unpredictability
There were challenges in the market with policy unpredictability from President Donald Trump’s administration cited as a key factor. The report highlighted tariffs in particular as a «significant concern» for the art trade in the US and globally with many dealers and auction houses noting negative direct and indirect impacts on their businesses in 2025.
«The art market has entered 2026 optimistically, following strong autumn and winter fairs, record-breaking auction results, and broadening collecting interests that have helped stabilize sentiment,» said Christl Novakovic, head UBS Global Wealth Management EMEA and chair of the bank’s art board.
«Although these developments are encouraging, it is not yet clear whether they will lead to healthier, more sustainable levels of activity. Every year brings new forces that shape our world and the markets within.»
