Prestige at a Discount: Salaries and Careers in the Art World

Hong Kong Sales Week: A Stabilizing Market with Strong Regional Demand

The art maket stabilizes, but the recovery remains uneven. 

Spain applies a 21% VAT to gallery sales of artworks, a rate in place since 2012. In contrast, other cultural sectors benefit from reduced rates: cinema, theatre and concerts are taxed at 10%, and books at 4%. Contemporary art galleries, however, remain subject to the general rate.

Qatar’s cultural strategy has never been improvised. For more than two decades, under the leadership of Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani, Qatar Museums has advanced a carefully sequenced expansion that positions culture at the center of national development. 

The current exhibition devoted to Beato Angelico at Palazzo Strozzi is not only an art-historical event but also a revealing case study in how audiences engage with art today. It is the first major exhibition dedicated to the artist in more than seventy years (last time was in 1955) , and its success goes well beyond scholarly importance.

As 2025 draws to a close, the long-anticipated recovery of the global art market has not yet truly taken shape. The cautious optimism that marked the end of 2024 quickly gave way to a more sobering reality.

Frida Kahlo has entered a new chapter of global recognition. The sale of El sueño (La cama) for $54.66 million at Sotheby’s marks the highest price ever achieved by a woman artist at auction and the strongest result for any modern Latin American artist.

How new U.S. trade policies are reshaping the movement of art and design, blurring the line between cultural object and commercial good.

Signs of caution in a market seeking stability.

In a city where art and fashion have long shared the same stage, one of the most talked-about encounters during Art Basel Paris week was 30 Blizzards, a performative project by British artist Helen Marten, presented by Miu Miu at the Palais d’Iéna. The preview gathered an international mix of collectors, curators, and fashion figures, confirming how naturally these worlds now intersect.

By Maria Sancho-Arroyo

Over the past two decades, the global art fair landscape has undergone a radical transformation. What was once a relatively contained circuit of regional events has exploded into a complex network of branded cultural destinations. Since 2000, the number of art fairs has skyrocketed - from fewer than 60 to over 300 worldwide -reshaping how art is marketed, sold, and consumed.

This year’s edition of Art Basel in Basel echoed a similar dynamic to New York Art Week in May: the post-pandemic frenzy is over, and the market is clearly in the hands of buyers. While major sales did take place—particularly in the blue-chip segment—the overall pace was measured, expectations were modest, yet the atmosphere remained upbeat. The market is going through a period of adjustment, though interest in collecting remains strong.

With its inaugural edition, Panama Art Week stepped onto the contemporary art stage not as a marketplace for immediate transactions, but as a catalyst for long-term cultural positioning. 

This spring, New York’s art fairs drew large crowds and vibrant energy—from the blue-chip Frieze and TEFAF to more experimental events like Independent and NADA. A total of twelve fairs took place, reinforcing the sense of an especially intense week for the market. The aisles were filled with collectors, curators, and celebrities, yet sales reflected a more measured pace than in previous years. The market is active, but increasingly thoughtful.

Despite its rich, diverse artistic production with deep historical roots, Panama's art market remains limited. With fewer than ten active galleries and no fully established art fair to date, the country’s artistic ecosystem is still in an early stage of development. However, creative energy is clearly present, and 2025 could mark a turning point.

This was my first visit to Lima (and I hope it’s the first of many), and I came to take part in Pinta Lima 2025—an incredibly enriching experience. From the opening to the close, the fair was full of life: buzzing rooms, lively conversations, and unexpected encounters. There was an unmistakable energy in the air, the kind that comes from a city that takes seriously its place on the Latin American contemporary art map.

Bogotá’s art scene was reinvigorated this past weekend with a new edition of ARTBO | Fin de Semana, held from Friday, April 25 to Sunday, April 27. Unlike the main fair taking place in late September, this format invites visitors to explore the city’s key contemporary art circuits, with gallery openings, guided tours, talks, and performances across various cultural venues.

Interview with Edouard Gouin, Co-founder of Convelio.

The end of 2024 and the beginning of 2025 were marked by palpable euphoria in the art market, particularly in Miami during December’s fair week. The recent outcome of the U.S. elections and the return of Donald Trump to the presidency initially generated optimism among collectors and art professionals. It was expected that the new administration would boost liquidity in the U.S. market, with positive effects on the global art market.

Peruvian contemporary art is experiencing a vibrant moment. Over the past decade, its art ecosystem has begun to consolidate, with a growing local collector base, a more professional gallery scene, and an increasing number of artists gaining international visibility. However, it remains an early stage, with a small and fragile market that requires stronger structures to support its development. Unlike other countries in the region, Peru lacks strong institutional support for contemporary art.

The Mexican art scene is going through an exceptional moment. There is a palpable energy, with new galleries opening, others already consolidated in the process of expansion and Mexican artists and curators gaining more and more international visibility. Their presence in museums, biennials and global fairs continues to grow, consolidating Mexico as a key player in the contemporary art scene.