By Toby Skeggs

In 2025, the global art market staged a slight recovery, growing by 4% year-on-year according to The Art Basel and UBS Art Market Report. But, whereas ultra-contemporary art drove the recovery in the years following the pandemic, in 2025 the uplift came from high-value collections of early- and mid-20th-century art. This is a trend that robustly continues into 2026. On May 18, 16 works from the late publishing magnate S.I. Newhouse’s collection sold at Christie’s in New York for USD 630.8 million (with fees). Among the star lots, there were auction records for two Modern masters: Jackson Pollock and Constantin Brancusi. So, why are these works commanding such attention now? Where should a new collector begin, and what should they look for? The UBS Art Advisory team, who work with collectors across every stage of the journey, give their insights.

Should I start buying Modern art now? 

‘More and more, collectors are interested in Modern and Postwar art because we are living in a period of rapid change and they are keen on art that has a long-term value,’ says Carola Wiese, Art Advisory Specialist at UBS in Switzerland.

Wider economic volatility has encouraged caution among collectors, contributing to ‘a shift toward confirmed masters,’ but, Wiese says, there is a deeper resonance. These are works born of a period shaped by war, displacement, industrialization, and rapid technological change – a history that today does not feel so distant.

‘Today, it is all about AI,’ Wiese says. ‘But we are again at a moment when technological progress is having a major impact on everyday life. That is something that resonates with our clients. They feel this is art that speaks to them now.’

How do I begin? 

Find a focus, Wiese advises. ‘We often say that a niche can be the key to success in collecting.’ That speciality might be a specific medium, a technique, a movement, a region, or an overlooked part of an artist’s practice.

‘Contemporary art is a common starting point because it can be more accessible than an entry level painting by an established 20th-century master,’ Wiese says. By contrast, an entry level painting by an established 20th-century master can be high.

‘A focus on works on paper, collage, or décollage, for instance, can be a very specific way of getting into a period,’ Wiese says. ‘You are excluding a lot of works, but at the same time you are embarking on a very tailored collection.’ A collection built around a single idea can be both more achievable and more distinctive than one that casts too wide a net.

Where can I make new discoveries?

‘There is still so much to discover for the intrepid collector,’ says Eric Landolt, Head of UBS Family Advisory, Art, and Collecting. ‘There are many regions and movements that have not been explored in depth. You have to spend time to do the research, visit museums, go back to the old exhibition catalogues, and really study.’

For some collectors, this process of artistic archaeology is as much a part of the joy of collecting as the ownership of the works themselves. They are described by Landolt and Wiese as ‘collectors of collections.’

‘Many collectors reach a point where they feel they have completed the narrative they wanted to build,’ Wiese says. ‘At that moment it’s also okay to let go and move on.’ For them, she adds, ‘this can be particularly exciting as they can now start a new chapter.’

Others stay with the same period but go deeper. Searching, as Landolt puts it, for ‘that little gem – not unknown, but forgotten – which could complement the collection in a way that surprises.’

Should my art collection be personal or built around the canon?

‘Collecting is so inherently bespoke and personal,’ says Rachel Peart, Art Advisory Specialist at UBS in the Americas. ‘If you take the Newhouse sale, for example, you see an incredible collection that has been carefully put together over decades with a deeply personal, visionary approach.’ Newhouse assembled one of the world’s finest collections, and the May auction gave a rare glimpse into the most personal chapter of his collection made up of some of the greatest masterpieces of 20th-century art. Bringing in USD 630.8 million (with fees), the ‘white glove’ sale marked a historic moment that solidifies Newhouse’s lasting impact as a collector.

Other collections, Peart says, are guided more by instinct. ‘Many do not keep barriers around what might or might not fit, and some are collecting as a couple or as a family, so then it is about what resonates with everyone as a through-line.’

For the most committed collectors, acquisition is only the beginning: ‘Sometimes having it on your wall really isn’t enough,’ Peart says. ‘There is an innate drive to be more involved with the artist and their legacy.’

Can my collection contribute to the writing of art history? 

‘The patronage component is a key part of how collectors shape and support art,’ Peart says. ‘Collectors’ perspectives, their connoisseurship, and responsible stewardship, can leave a meaningful imprint on art history.’

The art-historical standing of an artwork also has a bearing on its value. Value in the Modern and Postwar sectors, Peart explains, is related to factors such as where a work sits within an artist’s career, whether it belongs to a pivotal period, and its rarity. ‘This is not a contemporary artist who is going to have a new series coming out,’ she says. ‘There is a finite amount – and collectors understand that.’

In the end, Peart says, collecting can often come down to a balance between the financial and the emotional: ‘When you watch collectors on the opening day of a fair like Art Basel, if someone has really decided this is the work for them, and they must have it, they are going to go for it.’

The Art of Collecting: Navigating an Evolving Market

Leading voices from the art world come together to explore the evolving landscape of art collecting. UBS art advisors Eric Landolt and Carola Wiese share insights into the most pressing questions they receive from collectors, joined by gallerists Saskia Draxler from Nagel Draxler and Johanna Neuschaeffer from Office Impart, exploring how to build a meaningful collection and offering insights from within the heart of today’s art market. The discussion is moderated by Melanie Gerlis, Financial Times art market columnist and editor-at-large of The Art Newspaper, and offers expert perspectives on collecting, connoisseurship, and the art world’s next chapter.

Friday June 19, from 13:00 - 14:00

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