UBS: China retains third spot in art market as US dominance grows

China’s art market stabilised in 2025, showing resilience even as a protracted real estate downturn and cooling consumer confidence weighed on the world’s second-largest economy, according to the Art Basel and UBS Global Art Market Report 2026 released on Thursday.  While a recovery in domestic-led mainland auctions offset a contraction in the more internationally exposed Hong Kong hub, the region’s…

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