The 2025 Art Basel and UBS report pegged global art market sales at $59.6 billion after a modest 4% rebound from two years of contraction, well short of the 2022 peak near $68 billion. High-end public auctions drove most gains with a 9% rise to $20.7 billion, while the dealer sector advanced just 2% amid rising costs, tariffs, and uneven demand. Cautious optimism for 2026—43% of dealers expect improvement—has yet to translate into the sustained double-digit growth needed to reach $65 billion, as geopolitical uncertainty and selective collector behavior continue to cap momentum. Traders see these structural headwinds as keeping a swift return to pre-recession levels improbable before year-end.