While number of transactions grew 3% in 2024, a total negotiated value fell 12%, reaching US $ 57.5 billion, according to Art Basel and UBS report
The art market and antiques moved globally $ 57.5 billion by 2024, a 12% drop from the previous year, while the number of transactions increased by 3%, reaching 40.5 million negotiations. The data are included in the Art Market Report 2025 report, released by Art Basel and UBS on 8.abr.2025. Here (in English – 23.4 MB).
The contraction marks the 2nd consecutive year of decline in the negotiated amounts and represents the 3rd largest drop in the sector in the last 15 years, surpassed only by the recession of 2009 and the COVID-19 pandemic in 2020.
China registered the largest regional reduction, with a 31%drop, reaching US $ 8.4 billion and falling from 2nd to 3rd position among the largest markets. The United States, despite a 9% retreat in sales ($ 24.8 billion), maintained the global lead with 43% of the market.
The United Kingdom recovered 2nd position with a less sharp drop of 5%, totaling US $ 10.4 billion. France, which occupies the 4th place, saw its sales decrease 10%to $ 4.2 billion.
The report identifies a standard started in 2023, when sales in the art market fell 4%. The reduction was more expressive in the high price segment, while more affordable works kept stable or growing demand.
The contemporary art sector was the most affected, with a 36% drop in auction sales, reaching $ 1.4 billion, its lowest level in 6 years. Researcher Clare McANDREW, the study’s author, identified a lower risk appetite trend among buyers.
“People are buying what they like and what resonates with their preferences instead of what they think should be a good investment or what everyone is buying,” Said an industry expert to the research.
Among the positive aspects, the works segment at prices below $ 5,000 grew 7% in value and 13% in volume. The report also highlights a 3% increase in sales of work by women artists in the primary market, which represented 42% of the total value negotiated by the galleries.
Brazil stood out for its optimism, with more than 80% of traders in the country providing for increased sales to 2025, while only 33% of global traders maintain the same expectation.
The positive projection is supported by recent achievements in the international scenario, such as the curatorship of the Venice Biennial by Adriano Pedrosa in 2024, the first Brazilian and Latin American to take this position, and the Golden Lion won by the country at the Venice Architecture Biennial in 2023.
The Brazilian high -income Brazilian collectors allocated an average of 15% of their total heritage to art by 2024, a percentage similar to that of countries such as Germany and Hong Kong, behind only France, Japan and China. In addition, Brazilians led the number of acquisitions in the first half of 2024, with an average of 15 works per collector, while the world average was 11 pieces.
