Art Auction Sales Dropped by 25% in 2024 Amid Global Volatility

Private sales rose, as did sales of works priced under $5,000, among other findings in the latest Art Basel and UBS Art Market Report.

Art Auction Sales Dropped by 25% in 2024 Amid Global Volatility
Adrien Meyer, Christie's global head of private sales, sells Magritte's "L'empire des lumieres" for $121,160,000 in November 2024. (photo courtesy Christie's)