Art Basel witnessed a notable surge in demand for the works of David Hockney during its most recent fair, held last week in Basel, Switzerland. The renewed interest followed the artist’s death earlier this month at the age of 88, prompting a significant increase in collector activity around his paintings.

Clare McAndrew, the cultural economist responsible for the Art Basel and UBS Art Market Report, identified a pronounced “supply grab” of Hockney’s works in the immediate days after his passing. While Hockney’s market had long been strong due to his iconic status, McAndrew noted the current boost in demand as particularly striking. Data from the private sales platform MyArtBroker showed that interest in Hockney’s work rose by more than 1,200% within 48 hours following his death.

At Art Basel, collectors were among the first to purchase Hockney’s pieces in person since his passing. The most expensive lot offered was Delphiniums on My Garden Table, July 2025, priced at $12 million (£9 million) by Annely Juda gallery. David Juda, the gallery owner and a longtime friend of the artist, described the painting as deeply personal, featuring flowers Hockney had received for his last birthday. Juda also displayed two drawings related to a Royal Court theatre production set design, noting these would likely attract only “serious collectors” due to their specialized nature.

Other galleries also reported brisk sales. At Richard Gray, Hockney’s 2014 work Studio Interior #2 sold for $8.5 million, prompting celebratory toasts among gallerists. Meanwhile, Pace gallery, which recently reduced its artist roster and workforce by 30% and 20% respectively, adopted a different approach by placing a Hockney iPad painting into the fair’s newly introduced Basel Exclusive category. This move, according to Pace’s communications director Rebecca Riegelhaupt, allowed the gallery to maintain an element of surprise, as buyers only discovered the work upon the fair’s opening. Marc Glimcher, Pace’s CEO, described selling Hockney’s work posthumously as “an incredible honour.”

Despite the high-profile sales, several insiders expressed concerns about broader challenges facing the art market. Pace’s downsizing was seen by some as emblematic of a stagnating market. Former Art Basel global director Marc Spiegler remarked that while art fairs have expanded globally to locations including Paris, Miami Beach, and Qatar, the underlying art-selling business has failed to keep pace with the growing hype. McAndrew’s report echoed these sentiments, indicating that although the number of galleries and artists continues to rise, a lack of new collectors has caused the market’s growth to plateau this year.

For smaller galleries, the escalating costs of participating in Art Basel have become increasingly difficult to manage. Booth fees can reach as high as $120,000 (£90,600), not accounting for surging shipping expenses driven by global geopolitical tensions. Freddie Powell, owner of Ginny on Frederick gallery in east London, secured one of the least expensive booths but expressed skepticism about affordability for others. David Juda, a veteran of the fair since its inception in 1970, described current participation costs as “completely absurd.” Reflecting on changes over time, he lamented the shift from a more raw presentation of compelling art to a setting he considered visually polished but less inspiring.

Overall, while the renewed interest in David Hockney’s work highlighted the enduring value of his legacy, it also underscored underlying tensions and uncertainties within the contemporary art market.