Art Market Report
Explore sourced annual art market data, including auction and dealer sales, regional market shares and online activity. Forecasts are separate from verified figures.
2019 Art Market Figures
Pre-pandemic baseline at $64.4B
The global art market closed 2019 at an estimated $64.4 billion, slightly down from 2018. Online sales accounted for just 9% of total transactions — the last year before COVID-19 reshaped the market.
2019 Market Data
Total market: $64.4B
Online share: 9%
Year-on-year growth: -5%
2020 Art Market Figures
COVID shock: market down 22% to $50.1B
The pandemic forced an estimated $14B contraction. Online sales nearly tripled in share to 25% — a record high — as galleries and auction houses pivoted to digital viewing rooms and online-only sales.
2020 Market Data
Total market: $50.1B
Online share: 25%
Year-on-year growth: -22%
2021 Art Market Figures
Sharp recovery to $65.1B (+31%)
Pent-up demand and ultra-high-net-worth spending drove a near-full recovery. NFT and digital art sales briefly surged. Online share normalized to 20% as physical fairs returned.
2021 Market Data
Total market: $65.1B
Online share: 20%
Year-on-year growth: 31%
2022 Art Market Figures
Near-peak year at $67.8B
The market approached its all-time peak, supported by strong dealer sales and a record $1.6B Paul Allen single-owner sale at Christie's. China weakened due to lockdowns; the US strengthened.
2022 Market Data
Total market: $67.8B
Online share: 16%
Year-on-year growth: 3%
2023 Art Market Figures
First year of decline: $65.0B (-4%)
Higher interest rates and macro uncertainty cooled the high end. Lots over $10M saw the steepest pullback. Mid-market and online channels held up better than the top.
2023 Market Data
Total market: $65.0B
Online share: 18%
Year-on-year growth: -4%
2024 Art Market Figures
Second consecutive decline to $57.5B (-12%)
The contraction deepened, almost entirely driven by weakness above $10M. Volume of transactions held steady — collectors kept buying, just at lower price points. Younger collectors and dealer sales proved resilient.
2024 Market Data
Total market: $57.5B
Online share: 18%
Year-on-year growth: -12%
2025 Art Market Figures
Return to growth: $59.6B (+4%)
After two years of decline the market stabilized. Public auction sales rose 9% to $20.7B and dealer sales rose 2% to $34.8B. Online sales fell 11% to $9.2B as buyers returned to in-person channels. The US strengthened its lead at 44% of global value.
2025 Market Data
Total market: $59.6B
Public auctions: $20.7B
Dealer sales: $34.8B
Online share: 15%
Year-on-year growth: 4%
United States: 44% of global value
United Kingdom: 18% of global value
China: 14% of global value
France: 8% of global value
Rest of World: 16% of global value
2026 Mondoir Forecast
We expect 2026 to extend the modest 2025 recovery rather than break out of it. Growth will likely be driven by the dealer sector and continued strength in the United States, while the very top end of the auction market remains the swing factor.
This forecast is separate from verified historical figures and is not investment advice.
Total global art market
$60–63B. A flat-to-low-single-digit increase on 2025's $59.6B base. We see limited upside above $65B without a meaningful return of $10M+ lots.
Year-over-year growth
+1% to +5%. Consistent with the +4% rebound observed in 2025 and the absence of a clear macro catalyst either way.
Public auction sales
$20–22B. Auction houses guided to a steady 2026 calendar. We expect public auction sales to track 2025's $20.7B closely.
Online sales share
14–16% of total. After falling to 15% in 2025, online share is expected to stabilise near current levels as buyers continue to mix in-person and digital channels.
Geographic mix
US share holds at ~44%. We expect the US to retain its leadership; the UK to remain stable around 18%; and China to continue its gradual softening unless mainland macro conditions improve.
Sources and Citations
Art Basel & UBS
Art Basel & UBS
Art Basel & UBS
Artmarket.com / Artprice
Artnet
ArtTactic
