The art market has entered 2026 optimistically, following strong autumn and winter fairs, record‑breaking auction results and broadening collecting interests. What's driving the momentum?
The Art Basel and UBS Art Market Report 2026, authored by renowned cultural economist Dr. Clare McAndrew of Arts Economics, sheds light on complex global developments that affect the art world.
While artificial intelligence, easing monetary policy and sustained innovation will continue to drive this optimism, geopolitical risks, tariffs, rising operational costs and market volatility will bring a measure of realism.
Amid this backdrop, an unprecedented transfer of wealth will redefine family priorities. Together with a growing emphasis on purpose and art market participation among family offices, women and next generation philanthropists, these forces are fostering a dynamic art market.
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4 %
increase in global art market sales year-on-year to an estimated $59.6 billion, still below the 2022 peak
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9 %
uplift in public auction sales year-on-year, after a sharp contraction in 2024
US Highlights
- 01
US remains the global leader
- The US accounts for 44% of global sales by value, up 1% year-on-year.
- US sales grew by 5% year-on-year to $26 billion in 2025, marking a return to growth following two years of decline.
- The US accounted for 78% of the global market for works sold above $10 million.
- The US remained the largest individual market for fairs, with 92 fairs held in 2025.
- 02
High-end auctions rebound
- US public auction sales rose 20% year-on-year to just over $7 billion, largely driven by the high-end market.
- 03
New York dominates high-value sales
- All of the top 10 most expensive lots sold globally in 2025 were auctioned in New York City.
- 04
Dealers saw mixed performance
- US dealers saw a modest aggregate sales growth of 2% in 2025 after two years of decline.
- While 43% of dealers reported improved sales, 37% still experienced declining annual turnover.
Gain a macro-economic analysis of the global art market.
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A long-standing collaboration
UBS is proud to continue its long-standing collaboration with Art Basel and Dr. Clare McAndrew, founder of Arts Economics, to co-publish this leading research. Together, we aim to illuminate the forces shaping the global art market and support collectors in making thoughtful, informed decisions. As wealth and collecting continue to evolve, we remain committed to fostering understanding, dialogue and opportunity at the intersection of art and culture.