Art Market Shifts as Contemporary Sales Decline While Historical Works Rebound

The global art market experienced modest growth in 2025, reaching $59.6 billion in sales, according to the Art Basel & UBS Art Market Report authored by economist Clare McAndrew. However, auction sales of postwar and contemporary art have declined for four consecutive years, dropping from $8.5 billion in 2021 to $4.5 billion in 2025. Meanwhile, Impressionist and Post-Impressionist works saw a 47% increase in auction sales, and Old Masters rose 30%. The report notes a shift away from speculative ultra-contemporary works created within the past two decades, with high-value sales in that category falling significantly. Collectors appear to be favoring established artists with secure reputations during uncertain economic times.