Signals / 20 Dec 2025

The morning briefing, 20 Dec 2025.

20 Dec 2025 96 articles read

Art market undergoes historic geographic pivot as US tariffs and regulations drive activity to Gulf region while auction houses report $13.2B revenue growth concentrated in trophy assets and private sales.

The signals

5 on record

Major geographic shift in art market activity from US/Europe to Middle East Gulf region driven by US tariffs and new anti-trafficking regulations causing market disruption

Christie's and Sotheby's report combined revenue increase to $13.2bn in 2025 with significant shift toward private sales and luxury goods indicating changing market dynamics

Bill Koch's American Western art collection estimated to fetch $50M at Christie's, potentially more than doubling the existing record for a collection in this category

· Multiple Artists (American Western Art)

Malba acquires entire Daros Latinamerica Collection of over 1,200 works, signaling major institutional validation of Latin American art market

· Multiple Artists (Latin American)

Van Gogh achieved record prices in 2025, representing significant market strength for the artist's work at auction

· Vincent van Gogh

Rising attention

Momentum

Vincent van Gogh Nan Goldin Noah Davis Tracey Emin Theaster Gates

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