From London Whispers to Paris Booms: Art Basel 2025
The closure of several major galleries in London, from the legendary Marlborough last year to Almine Rech last week, signals a decisive shift in the post-Brexit art landscape. Once Europe’s undisputed market hub, London is now losing momentum, as more than 16,500 millionaires are expected to leave the UK this year alone, according to the Henley & Partners Wealth Migration Report. They take with them not only capital but confidence, leaving behind a scene in quiet recalibration. Traditional gallery models are being rethought, expansion plans paused, and cost-cutting has become the new mantra less is more.