10 Things this year taught us about the art world
a deep dive
It feels like every letter I write at the end of this year turns into a reflection, but since January will bring a clean slate — and a backlog of new topics I’m excited to dive into — I wanted to share one final note that looks back at what 2025 meant for the art world. Consider this a concise year-in-art “state of the union,” shaped by my observations, my reading, and countless conversations. Many of these themes will feel familiar because I’ve been writing about them throughout the year — but seeing them together paints a surprisingly clear picture of where we are, and where we might be heading.
1. Traditional gallery models are breaking — fast
The classic mid-tier gallery model simply isn’t holding. I wrote a post about this a couple of months ago if you want to have a deeper read. We’ve watched respected spaces close or scale down not because the art wasn’t good, but because the economics no longer make sense.
Rent, staffing, and fair costs have outpaced the volatility of art sales. Even “successful” galleries can’t outrun the math. This year alone, we watched a number of respected galleries either shut down entirely or strategically withdraw from expensive art capitals. Some closed for good, some reduced their locations and presence:
This year’s closures read like a roll call of serious players, not failed experiments: Clearing (New York & Los Angeles), Tim Blum (Los Angeles & Tokyo), Venus Over Manhattan (New York), Tilton Gallery (New York) – After the death of Jack Tilton, Connie Rogers Tilton (closed the gallery and shifted into private advising), Almine Rech closed its location in London, Perrotin -The gallery closed its primary Hong Kong location. And many more smaller regional galleries..
2. New Collector Class Is Reshaping Everything
One of the most important — and least loudly discussed — shifts of 2025 is on the demand side: who is collecting, why they’re collecting, and how they make decisions. These new behaviors are reshaping the market more quietly (and more permanently) than any auction headline.
Millennial and Gen Z Collectors Are Finally a Real Force
This is the first year we truly felt it. Younger collectors have moved beyond the “emerging buyer” label and stepped into meaningful market influence.
But their motivations differ sharply from traditional collectors:
They want work that aligns with identity, values, and beliefs.
They are highly attuned to sustainability, the environmental footprint of materials, and artists’ production ethics.
They gravitate toward artists whose practices speak to social consciousness, community engagement, and lived experience.
They are digital natives — meaning discovery, research, and early trust-building happens online, not through galleries.
This generation doesn’t just buy art; they buy narratives, principles, and positions.
That alone is redirecting the market.
