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#ArtnetNews: In the first half of 2025, fine-art auction sales during the first half of 2025 totaled $4.72 billion, down 8.8 percent from the same period a year ago and down 40.9 percent from 2022’s first half, according to the Artnet Price Database. Major galleries shut their doors, while others scaled back. The downturn is structural: an oversaturated market of galleries, fairs, and advisors, paired with inflated primary prices and weak secondary demand for countless living artists, has left b