The Economics of the Art World: Who Makes Money and Who Doesn't

The global art market reached $59.6 billion in 2025, still below the 2022 peak of $67.8 billion. The US accounts for 44%. Dealers' total operating costs rose by an estimated 5%. 80 percent of survey respondents said President Donald Trump's tariffs negatively impacted their business. Who makes money, and who doesn't?