Q1 2026 Highlights

Q1 2026 opened with a clearer recovery signal in London than the market had shown a year earlier. At Sotheby’s March Modern & Contemporary evening sale, the comparable London total rose to approximately £131M with fees, following £62.5M in March 2025 and £99.7M in March 2024. Read across three consecutive March sales, the sequence suggests not uninterrupted strength but a meaningful rebound in high-end demand after a weaker 2025 season.

At the global level, the clearest structural benchmark available during Q1 came from the Art Basel and UBS Global Art Market Report 2026, which showed the art market rising approximately 4% in 2025 to $59.6B. Combined public and private auction-house sales increased about 6% to $24.8B, while dealer sales rose a more modest 2% to $34.8B. At the same time, value remained sharply concentrated: the report found that the top 20 artists accounted for roughly 36% of total market value.

Taken together, the quarter points to a more useful conclusion for collectors and institutions than a simple recovery narrative. Confidence improved in the most established parts of the auction market, but the broader global trade remained selective, with value still concentrated in the most recognizable names and the strongest segments of supply.