The U.S. art market regained momentum in 2025, with total auction sales rising 23% year-over-year to $3.17 billion, according to Bank of America's 2026 U.S. Art Market Report  in partnership with ArtTactic®. The increase represents the market's first annual growth since 2022, signaling stabilization after more than two years of contraction.

"What we saw in 2025 was not a return to speculation, but a return to discipline," said Drew Watson, Head of Art Services at Bank of America, serving Bank of America Private Bank and Merrill art collecting clients. "Major collections and estates came to market in 2025, which enabled collectors to focus on quality, provenance, and long-term significance. That shift helped stabilize the market and sets a healthier foundation for future growth."

Selectivity and Quality Define the Recovery

• Fewer works, stronger outcomes: The number of lots sold declined nearly 20%, reflecting tighter supply and heightened selectivity from both buyers and sellers. At the same time, sell‑through rates reached a three‑year high, signaling improved alignment on pricing and expectations.
• Guarantees played a central role: The share of guaranteed value in New York Evening Sales climbed to 78% in 2025, the highest level of the past decade, suggesting risk aversion among consignors. Guaranteed lots outperformed their low estimates by more than 10%, a three-year high.
• Historical categories lead performance: Impressionist and Modern segments drove the rebound, while Contemporary and Young Contemporary categories continued to reprice.
• Women artists extend long‑term gains: Sales of works by women artists rebounded after a dip in 2024 and are up 105% over the past decade. Women artists also outperformed men in resale returns.
• The West leads overall U.S. art spend: Anchored by California but spanning Washington, Arizona, and more — the West accounted for 35% of art purchases in the U.S.

"The art market has recalibrated," Watson added. "That recalibration favors long-term stewardship over short-term trading, which is key given the long-term view has historically been the most durable driver of value in art."