As revealed in the newly published Artnet Intelligence Report: The Year Ahead 2025, the global art market is at a turning point. Against a backdrop of declining high-end sales and growing geopolitical shifts, a new wave of collectors and institutions is reshaping the cultural landscape.

Key Insights from the Report

A New Generation of Collectors

Millennials and Gen Z collectors are rewriting the rules of the art market. Less interested in speculative investment, this generation is seeking out works that reflect identity, community, and historical relevance — prioritising cultural value over market prestige.

Fall of the Trophy Asset

Auction sales of works priced above $10 million plummeted by 44.2% in 2024. Ultra-contemporary art suffered a 37.9% drop, while the overall fine art auction market shrank by 27.3%. The "trophy market" is cooling fast.

Strength in the Middle

By contrast, artworks priced between $100,000 and $1 million proved more resilient, showing that many collectors are still investing — just more cautiously, and more meaningfully.

The Rise of the Middle East

With Saudi Arabia’s Vision 2030 leading a wave of cultural infrastructure and investment, the region is becoming a new epicentre for art. Collectors and institutions are increasingly turning their attention to the Gulf.

A Digital-First Future

Online sales continue to grow, with digital platforms now a key part of both collecting and discovery. From NFTs to virtual exhibitions, the digital space is becoming more than a trend — it’s the new normal.

Artists and Market Trends

• Jean-Michel Basquiat remains a powerhouse, with the top four contemporary auction results of the year.

• Emerging voices like Jadé Fadojutimi, Hilary Pecis, and Jesse Mockrin are captivating younger audiences with intimate, narrative-driven work.

• A standout moment: René Magritte’s L’empire des lumières sold for $121.2 million, defying the overall market slowdown.

A Market in Motion

This year’s report doesn’t just analyse the numbers — it reflects a deeper shift in values. The next generation of collectors is shaping an art market that is more diverse, digitally native, and deeply connected to cultural meaning.

2025 may mark the end of an era of trophy hunting — and the beginning of something more inclusive, dynamic, and globally distributed.

Sources:

• Artnet – The Year Ahead 2025: Intelligence Report

• Artnet – New Money, New Taste: What Young Collectors Are Buying in 2025

• Artnet – Meet the Art Market’s Most Bankable Artists

• Artnet – By the Numbers: How Low Can the Art Market Go?

• Artnet – Five Big Questions Facing the Art Market in 2025