There Were More Contemporary Art Transactions in 2024—But Far Fewer Lots Sold for Above $1 M.

In the 2023–24 financial year, as global art sales returned to pre-pandemic levels, there were fewer auction records but far more lower-priced transactions, according to a new report.Additionally, that report said, there were far fewer works available in a category known as Ultra-Contemporary, which refers to art of the past couple decades, much of it by young artists.Even Trump’s implemented new tariffs this year, buyers were already becoming more sensitive about pricing and more se