Art Basel and UBS Global art market report 2025

The report provides a comprehensive, macroeconomic, benchmark analysis of the state of the global art market in 2024. This annual report examines various segments, including galleries and dealers, auction houses, and art fairs, assessing their performance against the backdrop of changes in the global economic and wealth context. Sales in the global art market declined by 12% in 2024 to an estimated $57.5 billion. Both dealer and public auction sales fell in 2024, with values declining by 6% and a sharper 25%, respectively. Private sales by auction houses countered the trend, advancing by 14% year-on-year. The US maintained its position as the leading art market worldwide, accounting for 43% of global sales by value, an increase in share of 1% year-on-year. The UK regained its position as the second-largest market with 18% (up by 1%), while China (including Mainland China and Hong Kong) fell by 4% to third place with 15%.