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The Oracle of Dublin

Clare McAndrew, the prophetic art market economist, is out with the latest edition of the annual report that has become required reading for the industry. The big takeaway is that markets are recovering—but the wealth isn’t being spread evenly, and costs are rising too.

Clare McAndrew
As always, McAndrew’s report provides a nuanced portrayal of the lives and challenges of art dealers, if you’re willing to read deeply enough. For now, let’s just say that it’s hard out there for an art dealer. Photo: Courtesy of Art Basel
Marion Maneker
March 13, 2026

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Last year, as I’ve been reporting, the art market appeared to largely heal itself. Now, we have confirmation in the form of Clare McAndrew’s highly anticipated annual report on the state of the art market, which gives new depth to our existing portrait of the dramatic turnaround, especially in the auction world, after the middle of last year. It all added up to an estimated $59.6 billion in total sales in 2025—an increase of 4 percent from the year before.