Art Markets Outside Top 3 Hubs Lift Share to 24% by 2025 as Tariffs Reshape Trade
Updated
Updated · Art Newspaper · May 11
Art Markets Outside Top 3 Hubs Lift Share to 24% by 2025 as Tariffs Reshape Trade
1 articles · Updated · Art Newspaper · May 11
Regions outside the US, UK and China expanded their share of global art business to 24% in 2025, up from 17% in 2015, according to the latest Art Basel & UBS report.
Brexit, tariffs and other nationally protective rules have curbed cross-border trade in art—especially contemporary works—while inflation and deglobalisation have weakened the dominance of traditional hubs.
South Korea and Switzerland gained market share last year, and Japan and Australia also grew in 2024, suggesting a more multipolar market is creating regional winners even in a weak overall environment.
The US still held 44% of the market last year, only slightly below its 45% peak in 2022, but the report argues growth is becoming more regional within countries as high costs strain hub cities such as New York.
That shift could favor smaller cities, local galleries and lower-priced parts of the ecosystem, though the report warns a more fragmented market may bring lower values, business closures and less overseas investment.
Are new art hubs truly decentralizing power or just becoming regional outposts for the market's elite?
Will the art world's local turn build a sustainable future or simply relocate its labor problems?
With billions in state funding, which new cultural capital is the smartest bet for art investors now?
2025 Art Market Surges Amid New US Tariffs and Shifting Collector Demographics
Overview
In 2025, the global art market made a strong comeback, driven by robust sales and a shift in collector demographics. Traditional art hubs like France saw significant growth, with Paris’s auction week marking a notable sales jump. This rebound was shaped by new collecting trends and a younger, more diverse group of buyers, who brought fresh motivations and interests to the market. As established markets reaffirmed their strength, the evolving landscape highlighted renewed confidence and the rising influence of next-generation collectors, signaling a dynamic and changing global art scene.