In 2024, the chickens came home to roost, so to speak, for the art world. After a series of ruptures and scandals last year, 2024 was a year of restructuring, “correction,” and redress.
The art market suffered its worst performance in years amid geopolitical strife, uncertainty over the US presidential election, and high interest rates. Layoffs swept through the industry, from blue-chip galleries to auction houses, and economic challenges hit small and mid-size galleries hard, with many closing. In Germany, the US, and the UK, the cultural sphere became a constant site of activism over Israel’s wars in Gaza and Lebanon. Meanwhile, the Whitney Biennial and the Venice Biennale opened with shows that signaled major shifts in representation, methods, and subject matter than editions past.
ARTnews is taking stock of this turbulent year to showcase the artworks with lasting impact and the trends that defined the year, and to offer a view of what to expect in 2025, which looks to be no less eventful.
