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

Art Basel Hong Kong 2025. Image from Unsplash by Spencer Chow.

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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