Art Market 2025 Trends. The Shifting Terrain of the 2025 Art Market

We're now in the second quarter of 2025 and the mood across the art world feels... unsettled, but not without promise. From MÍRAME Fine Art, based in Guanacaste, Costa Rica, we've been watching these shifts up close, not just in global headlines or sales reports, but in the conversations we're having with collectors, artists, and colleagues from around the world. It’s a moment that feels uncertain, yet full of possibility.

Sales Slow at the Top, Broaden at the Base

It’s no secret that the upper tiers of the market have contracted. According to the 2025 Art Basel & UBS Art Market Report, global sales declined by 12% in 2024, driven largely by a sharp 45% drop in transactions over USD 10m. But what's happening below that threshold tells a different story, and one we’ve seen reflected in our own sales and inquiries. Works priced under USD 5,000 are seeing more traction, with values and volumes on the rise.

There’s a real sense that more people are entering the market - curious, thoughtful, and often looking to start their collections with intention. That’s encouraging, especially for artists who are doing important work but aren’t yet represented in the auction rooms of New York or London.

Emmanuel Rodriguez-Chaves, Hallucination or the Labyrinth of the Simulated, Oil on canvas

Art Market 2025 Trends: Art Fairs Adjust and Diversify

We’ve also seen some recalibration on the fair circuit. In 2024, gallery sales through art fairs edged up slightly - about 31% of total dealer revenue - but the dynamics are changing. The costs and logistics of showing at major fairs remain high, and many galleries are looking at more focused, values-aligned platforms.

This year, MÍRAME participated in Future Fair in New York, a considered, well-curated fair that foregrounds sustainable practice and community-building. It felt like a natural fit for us. Other fairs like SPRING/BREAK have also added to the diversification and accessibility of the fair landscape. These kinds of spaces feel increasingly relevant to how we want to engage with the art world.

Politics, Policy, and Production

Global policy shifts continue to ripple through the market. New U.S. tariffs, for instance, have introduced complications for cross-border transactions. It has certainly made shipping into the US a more complicated process! But what’s most striking isn’t the paperwork, but I imagine the kind of work artists will make in response.

We’re seeing more politically aware and socially engaged practices, from climate commentary to explorations of identity and justice. These aren’t niche concerns; they’re shaping what artists want to say, and what collectors are looking to live with.

Karla Herencia, Inteligencia No Humana, Oil on canvas

New Collectors, New Behaviours

There’s no question that a younger generation of collectors is reshaping the market. Many of our clients are under 40, and most of them are comfortable making serious acquisitions online. It’s no longer unusual for someone to discover an artist through Instagram, read about them on our site, and complete a purchase, all within a few days.

This digital-first mindset is about speed, transparency and trust. As a gallery, we’ve adapted to this, and this international approach is part of how we build long-term relationships with collectors, as well as stay in touch with the global market.

Global Pivots: India, Hong Kong, and Costa Rica

Art market 2025 trends. Internationally, the market is shifting in interesting ways. India continues to command attention, with more institutional support for South Asian artists and stronger sales figures. Hong Kong, though facing challenges, remains active thanks to smaller, more flexible galleries stepping into the foreground.

And here in Costa Rica? We’ve noticed a quiet but significant uptick in attention. While there aren’t yet firm data points to chart this movement, what we see locally is unmistakable: more visitors, more expats, and, crucially, more interest in Costa Rican art.

Guanacaste is beginning to attract attention. A handful of galleries have started to explore the region, opening physical spaces with seasonal programmes. Whether this will lead to a permanent gallery scene remains to be seen. Costa Rica’s geography and logistical realities pose real challenges to operating year-round spaces.

The renewed interest in our region only reinforces what we’ve long believed: that there is a real appetite for serious, contemporary work inspired by Costa Rica's sense of place and purpose.

Looking Ahead

So yes, the market is in flux. In terms of art market 2025 trends, some doors are closing, but many more are opening and we will continue to keep our eyes on the international market in order to support locally in Costa Rica. For collectors just starting their journey, and for artists breaking through with new perspectives, this is an energising moment.

At MÍRAME, we’re choosing to see it as an invitation to continue thinking deeply, working locally, and staying connected to the larger, shifting story of contemporary art.

Art Market 2025 Trends

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