"Much of the macro-economic and geopolitical uncertainty has not gone away, and there is now the added threat that the artificial intelligence (AI) stock market bubble looks ready to burst. Within the art market, the shift in taste towards lower-priced art (plus a few trophies) seems here to stay as collectors nurse the reality that their "investments" in art have not paid off these past ten years or so."
"I expect this sentiment to radiate through the market, whose players will continue to prioritise sustainability over extravagant growth. While there will be fewer galleries that shut down completely, after the slew in 2025, there will be more geographic pruning, in the mould of Sean Kelly scaling back in Los Angeles, Stephen Friedman closing in New York and Almine Rech downsizing in London."
The art market is unlikely to roar back in 2026. Macro-economic and geopolitical uncertainty persists and the AI stock market bubble poses additional risk. Collectors are shifting toward lower-priced works as art investments have underperformed over the past decade. Caution will dominate, with demand potentially as problematic as supply. 2025 sales are likely only marginally ahead of 2024 lows, with 2026 expected to see similar conditions. The Venice Biennale theme In Minor Keys emphasizes unheroic work and sustainability. Galleries will prune geography and downsize while smaller, cheaper artworks, including miniatures, gain prominence.
Read at The Art Newspaper - International art news and events
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