Finance
Global art market returns to growth, upbeat for 2026, UBS report says
Published by Global Banking & Finance Review®
Posted on March 12, 2026
2 min readLast updated: March 12, 2026
Quick Summary
According to UBS and Art Basel, the global art market grew ~4% in 2025 to about $59.6 billion, marking the first expansion in three years. Dealer sentiment has improved with 43% expecting increased turnover in 2026 amid persistent geopolitical and operational challenges.
UBS Report: Global Art Market Rebounds in 2025, Bright Outlook for 2026
Key Findings and Trends in the Global Art Market
Return to Growth and Rising Optimism
March 12 (Reuters) - The global art market returned to growth in 2025 for the first time in three years, and the industry is gaining in optimism, an annual report by Swiss bank UBS and Art Basel showed on Thursday.
After the market's sales grew 4% in 2025 to an estimated $59.6 billion, 43% of dealers expect turnover to rise in 2026, compared with 33% during the previous year, the study showed.
Operational Challenges and Geopolitical Volatility
Cross-Border Transaction Complexities
Still, art dealers face significant operational pressures due to growing complexities in cross-border transactions amid U.S. tariffs, it said.
Expert Insights on Market Turnaround
The report's author Clare McAndrew, founder of research and consultancy firm Arts Economics, said 2025 was a welcome turnaround for the art market.
"However, it continued to operate in a volatile geopolitical environment, particularly regarding cross-border trade, the full implications of which are still unfolding in 2026," she said.
Regional Performance and Growth Drivers
Public Auction Sales and U.S. Market Activity
Driving growth in 2025 was an increase in public auction sales and activity in the United States, the top market. Growth was more subdued in the two next biggest, China and Britain.
European Market Variations
And while sales in both Switzerland and Austria jumped 13% year-on-year, they fell 10% in Germany.
Long-Term Risks and Market Outlook
Protectionism and Domestic Focus
McAndrew said a shift toward protectionism and more focus on domestic sales could pose longer-term risks to the art market, which relies heavily on international circulation and access to global audiences.
Conclusion
(Reporting by Marleen Kaesebier; editing by Dave Graham)
Key Takeaways
- •The art market rebounded in 2025 with estimated global sales of $59.6 billion, up approximately 4%, breaking a three‑year contraction.
- •Dealer confidence rose: 43% now expect turnover to increase in 2026, up from 33% in the prior year, though cross‑border trade frictions and U.S. tariffs remain a key concern.
- •Growth in 2025 was led by stronger public auction sales and U.S. activity, while China and the UK underperformed; regional shifts included a 13% rise in Switzerland and Austria, with a 10% drop in Germany.
Frequently Asked Questions about Global art market returns to growth, upbeat for 2026, UBS report says
1How much did the global art market grow in 2025?
The global art market grew by 4% in 2025, reaching an estimated $59.6 billion in sales.
2What percentage of art dealers expect turnover to rise in 2026?
43% of art dealers expect turnover to rise in 2026, up from 33% the previous year.
3Which countries saw notable changes in art market sales in 2025?
Sales jumped 13% in Switzerland and Austria, fell 10% in Germany, and were strongest overall in the United States.
4What are major challenges currently facing art dealers?
Art dealers face operational pressures due to complex cross-border transactions, U.S. tariffs, and a volatile geopolitical environment.
5What risks does the art market face in the long term?
A shift toward protectionism and a focus on domestic sales could pose risks to the art market’s reliance on international circulation.
