Art fairs returned close to their pre-pandemic scale in 2025, with 370 in-person events recorded worldwide. The latest figures also show how important fairs remain to dealers and collectors: fairs generated 35% of dealer sales, while 58% of surveyed high-net-worth individuals (HNWIs) made purchases connected to fairs in 2024 or the first half of 2025.
Contents
- Global art-fair calendar
- Fairs in dealer sales
- Costs, profitability, and buyer reach
- Collector attendance and buying
- Attendance and international reach
- Economic and institutional impact
Global art-fair calendar
The worldwide fair calendar changed sharply between 2019 and 2025. At least 417 in-person fairs were held in 2019, before the pandemic disruption. That number fell to 140 in 2020, while 75 online-only fairs were recorded globally in the same year. The distinction matters: the online-only figure is separate from the count of in-person events.
Recovery was gradual. The number of in-person fairs reached 272 in 2021 and 361 in 2022. It then rose to 370 in 2023, slipped to 361 in 2024, and returned to 370 in 2025. The 2025 count was therefore 53 events below the 2019 benchmark, although it was substantially above the 2020 low point.
The 2025 calendar also shows continuing turnover among events. Twenty-four new art fairs launched globally, while at least 15 events were canceled. The resulting net gain was nine events compared with 2024. These figures describe the calendar’s flow during the year; they should not be read as a complete measure of the size, quality, or commercial performance of every fair.
| Year | In-person fairs globally | Other reported activity |
|---|---|---|
| 2019 | At least 417 | Pre-pandemic benchmark |
| 2020 | 140 | 75 online-only fairs |
| 2021 | 272 | Recovery year |
| 2022 | 361 | Nearing the earlier scale |
| 2023 | 370 | — |
| 2024 | 361 | — |
| 2025 | 370 | 24 launches; at least 15 cancellations |
Source: The Art Basel and UBS Art Market Report 2026 by Arts Economics.
Fairs in dealer sales
For galleries and other dealers, fairs are a major sales channel. Art fairs accounted for 35% of dealers’ total sales in 2025, a four-percentage-point increase from 2024. The 2025 share was the highest recorded since 2022. In 2024, fairs represented 31% of total dealer sales, divided between overseas fairs at 20% and local fairs at 11%.
The longer comparison shows that the channel had not fully returned to its pre-pandemic weighting. The 2019 benchmark for fairs’ share of dealer sales was 42%, seven percentage points above the 2025 figure. A higher event count therefore does not automatically mean that fairs account for the same proportion of dealer revenue as before.
Dealer size also affected the role of fairs. In 2024, dealers with turnover above $10 million reported that fairs generated 34% of their sales, compared with 23% for dealers with turnover below $250,000. In 2025, dealers with turnover above $10 million averaged a 32% fair-sales share, while the smallest dealer segment averaged 27%. Dealers with turnover between $1 million and $10 million reported the highest 2025 average in the supplied breakdown, at 36%.
| Dealer group or benchmark | Fair-sales share |
|---|---|
| All dealers, 2025 | 35% |
| All dealers, 2024 | 31% |
| Overseas fairs, 2024 | 20% |
| Local fairs, 2024 | 11% |
| Dealers above $10m turnover, 2024 | 34% |
| Dealers below $250,000 turnover, 2024 | 23% |
| Dealers between $1m and $10m turnover, 2025 | 36% |
| Pre-pandemic benchmark, 2019 | 42% |
Source: Dealers — The Art Basel & UBS Art Market Report 2026 By Arts Economics.
Costs, profitability, and buyer reach
The commercial importance of fairs came with rising expenses in 2025. Dealers reported a 9% increase in art-fair costs and a 6% increase in travel and accommodation costs. Total dealer operating costs rose by an estimated 5% on average. The cost figures are reported changes for 2025, while the operating-cost figure is explicitly an estimate.
Profitability outcomes were mixed. Thirty-eight percent of dealers reported lower profitability in 2025, 33% reported higher profitability, and 29% reported broadly unchanged profitability. These percentages describe dealer responses rather than a single industry-wide profit margin, so they indicate the distribution of experiences rather than the average profitability of a fair or gallery.
Dealers sold to an average of 57 unique buyers in 2025. The smallest dealers had a more difficult year in this measure: dealers with turnover below $250,000 averaged 29 buyers, after a 40% year-on-year drop. The difference between the overall average and the smallest-dealer figure highlights why participation costs can weigh differently across businesses. A fair may offer visibility and access, but the sales outcome depends on the dealer’s scale and buyer base.
Collector attendance and buying
Survey data points to a strong connection between fairs and collector activity. Fifty-eight percent of surveyed HNWIs made purchases linked to art fairs in 2024 or the first half of 2025. The comparable share was 39% in 2023. The periods are not identical, so the figures show a reported change across different measurement windows rather than a like-for-like annual time series.
In 2025, 15% of surveyed collectors said they preferred buying directly at art fairs. Fairs were part of a wider dealer-centered buying ecosystem: 83% of surveyed HNWIs bought from galleries or dealers in person, online, through social media, or at an art fair in 2024 or the first half of 2025. Across that period, 43% of HNWIs’ transaction value came through dealers, including art-fair purchases.
Attendance was stable in the survey results. HNWIs attended an average of six art fairs in 2024 and planned to attend six in 2025. The average was also six in 2023. Attendance frequency alone does not indicate how much a visitor spent, but it does show that the fair circuit remained a recurring part of the surveyed collectors’ activity.
Source: Sales Channels — The Art Basel & UBS Survey of Global Collecting 2025 By Arts Economics.
Attendance and international reach
Major fairs demonstrate the scale that can sit behind the global calendar. Art Basel in Basel presented 289 galleries in 2025. Those exhibitors represented 42 countries and territories, while private collectors and art patrons from more than 96 countries and territories attended. The fair recorded 88,000 attendees across preview and public days, and representatives from more than 250 museums and foundations visited.
The fair’s program included nearly 70 works in the Unlimited sector. Katharina Grosse’s CHOIR installation covered more than 5,000 square meters. The first Art Basel Awards in Basel honored 36 medalists. These program figures describe the 2025 edition’s scale and presentation, not a general average for all fairs.
Art Basel Hong Kong recorded a similar attendance level with a different regional position. Its 2025 edition presented 240 galleries representing 42 countries and territories, and recorded 91,000 attendees across VIP and public days. The attendance total was higher than the Basel figure in the supplied reports, while the number of participating galleries was lower.
| Fair and edition | Galleries | Countries and territories represented | Reported attendance |
|---|---|---|---|
| Art Basel in Basel, 2025 | 289 | 42 | 88,000 |
| Art Basel Hong Kong, 2025 | 240 | 42 | 91,000 |
Sources: Art Basel’s 2025 edition concludes on a high note and Art Basel Hong Kong successfully concludes its 2025 edition.
Economic and institutional impact
TEFAF Maastricht provides a detailed example of how a fair can affect a host city and country. The 2025 edition attracted more than 50,000 visitors over eight days, and close to 500 institutions sent representatives. Opening-day visitor numbers were 15% higher than in 2024.
The estimated total economic impact across the Netherlands was €86.4 million for the 2025 fair edition. The estimated impact in Maastricht was €37.9 million. Supply-chain effects generated an estimated €34.0 million in indirect economic activity, while international media exposure was assigned an estimated €5.6 million promotional value. These are estimates or assigned values for the 2025 edition, not audited sales totals or guaranteed future impacts.
Visitor travel and spending formed part of the estimate. Approximately 60% of TEFAF Maastricht visitors traveled by private vehicle, generating an estimated €1.0 million in fuel and electric-vehicle charging expenses. On-site visitor spending was estimated at approximately €1.3 million. Among visitors who stayed in Maastricht, approximately 70% used paid accommodation.
Together, these figures show several layers of fair impact: direct participation and attendance, institutional access, visitor spending, supply-chain activity, travel costs, accommodation, and promotional exposure. They should be interpreted within the scope of the TEFAF Maastricht 2025 edition and its reported methodology, rather than as a universal economic multiplier for every art fair.
Sources: The Economic Impact of TEFAF on Maastricht and TEFAF Maastricht Concludes Amid Triumphant Sales.