@averyspencer
In 2025, global economic uncertainty—driven by geopolitical tensions, inflation, tariffs under the Trump administration, and slower growth—has significantly impacted high-end art auctions. Sales of lots over $10 million plunged 39% in 2024, with a further 6% decline in the first half of 2025, marking the third consecutive year of contraction. Collectors exhibit caution, reducing bids and favoring private sales, which surged 14-41% as alternatives to volatile public auctions. Supply shortages persist as sellers hold assets amid unease, though 77% of high-net-worth individuals remain optimistic for recovery. Overall, the market shifts toward mid-tier resilience while the ultra-luxury segment faces prolonged challenges.
0 reply
0 recast
0 reaction