Art market outlook 2025
2024 was a challenging year for the art market, as geopolitical turbulence and economic uncertainty left a significant mark. The global art market fell by 24%, with auction house results reflecting this downturn. Christie’s managed to outperform Sotheby’s, thanks in part to its new pricing structure, but the overall picture was subdued.
The once-vibrant “Wet Paint” market also saw a notable decline. In past years, galleries created exclusivity by placing collectors on waiting lists or employing “buy one, donate one” policies, making the process of acquiring artworks unnecessarily difficult. Fortunately, these practices have faded, making 2025 a far more welcoming year for both new and seasoned collectors.
Brexit has further dulled London’s art market, with the lack of American collectors at Frieze London in October 2024 painfully evident. Many opted to bypass London entirely, heading straight to Paris for Art Basel the following week. Paris has firmly taken the crown, with its sensational shows and strong sales, offering both emerging and blue-chip works. Across the Atlantic, December’s Miami Art Fair reflected cautious optimism, with deals being done but a more measured approach to buying.
A Look Ahead
At The London Art Fair last week, a thought-provoking panel discussion, chaired by Lindsay Dewar, explored what 2025 may hold for the art market. Panellists Julia Bell (Parapluie Art), Martina Batovic, and Georgina Walker provided their insights on trends, challenges, and opportunities in the year ahead.
The panel highlighted that the mid-range market is likely to see renewed activity. The growing influence of female artists—what Julia Bell referred to as the “oxygen in the female art market”—is expected to continue expanding, breathing fresh life into collections and exhibitions.
2025 presents itself as a buyer’s market, with softened prices creating unique opportunities for collectors. Whether you’re a first-time buyer or a seasoned connoisseur, now is an excellent time to invest. For example, the blue-chip market, typically more stable, currently offers rare bargains.
Sotheby’s is set to make history this year with its first-ever auction in Saudi Arabia. Titled Origins, this groundbreaking event will take place on 8 February at a UNESCO site near Riyadh. It promises an extraordinary mix of Western art, including works by Picasso, Warhol, Kandinsky, Hirst, and Magritte, alongside Arabic artefacts of historical significance.
Cultural Highlights of 2025
There’s much to look forward to in London’s cultural calendar this year. Major exhibitions include:
Jenny Saville at The National Portrait Gallery (20 June – 7 September)
Yoshitomo Nara at Hayward Gallery (10 June – 31 August)
Keifer/Van Gogh at the Royal Academy (26 June – 28 October)
These shows, alongside others, promise to enrich London’s art scene, offering both inspiration and insight.
Reflection and Optimism
The art market of 2025 feels more accessible and inclusive, with a renewed focus on collectors and a welcome shift away from past exclusivity. As art advisors, we see this as an exciting time to re-engage with the market, whether you’re looking for new acquisitions or considering adding to an existing collection.
With panel discussions like the one at The London Art Fair providing valuable insights and a wave of exceptional exhibitions on the horizon, 2025 may just be the year of quiet optimism for the art world.