Shifting dynamics in the Impressionist & Modern guarantee market
Following our previous report on auction guarantees in the Post-War and Contemporary art market launched in July 2025, we are pleased to present this follow-up analysis, focusing on guarantees in the Impressionist and Modern segment.
The auction guarantee market is currently in a period of transition, shaped by three key trends: the contraction of top-end guarantees, the growing dominance of Modern art, and the increasing reliance on third-party backers.
At the upper end, guarantees for works priced above $10 million have been steadily shrinking since their peak in 2022, reflecting a more cautious stance from both auction houses and consignors. Within the Impressionist and Modern art segment, Modern artists have consolidated their position as the driving force of the guarantee market, accounting for the majority of activity and reinforcing their central role in sustaining sales in this segment.
As the fall season approaches, this edition offers timely insights for collectors, advisors, and institutions navigating a shifting market. Inside, you'll find:
- Year-on-year comparisons between 2016 and H1 2025, including analysis by guarantee type (in-house vs third party), sales location, price segment and by artist generation.
- Top artists by guarantees, top guaranteed prices and performance Key trends guarantee returns analysis
Two further in-depth analysis are linked to this report:
