Is the art market in crisis after Trump’s tariffs?

Not quite, but it is evolving.

After a weekend of post-tariff art fairs (Art Düsseldorf, Art OnO, and Dallas Art Fair), we’re starting to see how things might shake out. And Dallas - the biggest of the bunch - hinted that success in 2025 won’t be about spectacle, but stability.

 

The fair opened under the shadow of Trump’s sweeping new tariffs, but if it proved one thing, it’s this: America’s wealthy still want art. They’re just shopping differently.

So what actually sold? 

 

The headline is clear: smaller, more accessible works dominated. Sculptures by Dallas-based Celia Eberle flew off the walls for under $1,000. Ceramic works by Kevin McNamee-Tweed and miniature landscapes by Dan Attoe - both under $10,000 - sold out quickly. 

 

The takeaway is that In a shaky economy, collectors are choosing charm over bombast.

 

That said, a $300,000 Friedel Dzubas sold early, and Berry Campbell Gallery from New York sold a painting by Perle Fine for $175,000 and another by Lynne Drexler for $75,000. These sales showed high-end buyers aren’t gone - they’re maybe just pickier. Why drop millions at auction when you can grab affordable gems and support galleries directly?

 

But being honest - Trump’s trade war isn’t over, and the ripple effects are messy. While art itself is technically tariff-exempt, shipping costs are climbing, and customs red tape is hitting dealers. (Art isn’t exactly car parts - but try explaining that to the U.S. Customs.)

Collectors are also eyeing their portfolios. After tariffs wiped $208 billion from the stock market, even seasoned buyers hesitated. The result is fewer impulse purchases and more strategic moves.

 

Despite it all, Dallas held strong, mostly thanks to its regional collector base. The city’s 85% spike in millionaires over the past decade meant loyal buyers showed up, planning purchases around the fair. That local cushion softened the global market’s blows.

 

So what’s my verdict? Smaller works are hot, high-end sales are selective, and logistics are the new battleground. People still want art - but in 2025, they want it their way: affordable, thoughtful, and ideally easy to ship.

 

Dallas didn’t dodge every economic bullet—but it stayed on its feet. And right now, that might be the best sign we’ve got.

16 April 2025