Despite ongoing uncertainty in the art market and reduced buying activity compared to previous years, the world's top art collectors continue to make significant acquisitions, though with notably shifted priorities. ARTnews's annual survey of its Top 200 Collectors reveals that while these elite buyers are still actively purchasing works, they have become more selective about blue-chip artists and are increasingly supporting gallery programs they believe in.

The 2025 acquisitions span a remarkable range from art historical masters to closely watched contemporary artists. Historical figures represented in recent purchases include Sturtevant, Emily Kam Kngwarray, Leonora Carrington, Edgar Degas, Gustave Courbet, and M.F. Husain. Contemporary artists making waves among collectors include Nairy Baghramian, Carolyn Lazard, Simone Leigh, Salman Toor, Carolina Caycedo, Diego Singh, Jacqueline Humphries, and Rashid Johnson, who joins the Top 200 list for the first time this year.

Several collectors emphasized strategic rather than accumulative approaches to their acquisitions. Ariel Marcelo Aisiks, a new addition to the list, exemplifies this philosophy. "The goal is not accumulation," Aisiks told ARTnews about his collection methodology. Despite this approach, he recently acquired an extensive archive of approximately 300 drawings by David Lamelas, including the notable work "Interview with Marguerite Duras" from 1970. Through his Institute for Studies on Latin American Art, founded in 2011, Aisiks has been working to increase visibility for artists like Lamelas who helped shape global conceptual art. His recent acquisitions also include works by Magali Lara, specifically "New York" (1978) and "Luego lo lavo" (1984).

Brazilian collector Pedro Barbosa focused his São Paulo-based collection on artists he has long supported. His recent additions include Sung Tieu's newsprint fashion piece "Read Me, Wear Me, Fear Me" (2025) and Carolyn Lazard's "Fiction Contract" (2025), which was recently exhibited at Artists Space in New York. These purchases reflect his commitment to following artists' careers over extended periods.

Collector duo Allison and Larry Berg demonstrated their patient approach to collecting, often waiting to encounter exactly the right work by an artist. This strategy paid off with Derek Fordjour's "S.C.A. (Self Care Academy)" from 2025 and Rashid Johnson's mosaic work "Untitled Broken Men" (2023). The Bergs have been collecting Johnson's work since 2013 and expressed particular enthusiasm about supporting his practice. "It gives us joy to support Rashid's practice not only because he is a magnificent creator and storyteller but because he places significant resources back into the entire ecosystem himself," they explained. Another notable acquisition was "Head C" (1975) by Madhvi Parekh, an artist they discovered during a recent trip to New Delhi. "We were admittedly drawn to both the work and the woman. She is a total badass—a self-educated, prolific maker while raising her family," they said.

Anita Blanchard and Martin Nesbitt made headlines with their acquisition of Simone Leigh's 2023 sculpture "Herm," which they installed in their front yard just blocks from where Leigh attended high school in Chicago. "Traditionally Herm symbolizes Hermes the mythical god of travel and good luck. This installation allows anyone to be inspired by Simone's work in their daily travels without going to a museum or gallery," Blanchard explained. They also purchased Toyin Ojih Odutola's "Routine Inspection II" (2019) after seeing the artist's solo exhibition at the Hamburger Bahnhof.

Some collectors made significant investments in art historical works. Eduardo F. Costantini deepened his holdings of Leonora Carrington pieces, acquiring her 1951 sculpture "La Grande Dame" and her 1945 painting "Las distracciones de Dagoberto." For the latter work, he paid $11.3 million after an extended bidding war at Sotheby's, demonstrating the continued strength of certain market segments.

The contemporary art market saw notable activity as well. Michael Ovitz, whose dozens of acquisitions this year included works by Edgar Degas, Walter Price, Salman Toor, Adam Pendleton, and Kathleen Ryan, has been particularly interested in creating dialogues between historical and contemporary works. He sees particular resonance between Walter Price's "Remove the veil" (2023) and Degas's "Intérieur at Menil-Hubert" (1892), which he won at a Sotheby's evening sale in May. "I've gotten very interested in going backward in time to support the modern and contemporary work," Ovitz explained, noting that a visit to the recent Caravaggio retrospective in Rome influenced this approach.

Several collectors focused on supporting emerging and underrepresented artists. Basel Dalloul acquired around three dozen works in the past year, mixing historical pieces by artists like Habuba Farah, Latifa Toujani, Esther Cecile Bendaoud Boccara, and Fatna Gbouri with contemporary works by Khadija Jayi, Amina Azreg, Fatiha Zemmouri, Mandy El-Sayegh, Sara Ouhaddou, Samar Mougharbel, and Nadia Ayari. Of Ayari's "Loop II" (2019), Dalloul noted being drawn to its sculptural presence, adding that Ayari's paintings "reflect a younger diasporic perspective that pushes things forward without breaking from the foundation."

The influence of major exhibitions on collecting decisions was evident throughout the survey responses. Lonti Ebers made two significant acquisitions directly inspired by museum shows: MoMA's Jack Whitten retrospective led her to acquire his 1983-84 sculpture "The Afro-American Thunderbolt," while "The Atomic Age" exhibition at the Musée d'Art Moderne de Paris prompted her purchase of a 1960 abstraction by Atsuko Tanaka. "I particularly like this early painting's relationship with her performative work—its references to electric bulbs, synaptic energy, and phasing," Ebers explained.

Public engagement and institutional support emerged as important themes among collector activities. Amanda and Glenn R. Fuhrman acquired Roy Lichtenstein's large-scale outdoor work "House III" (1997), which had been installed on the lawn of the artist's Southampton home. After Dorothy Lichtenstein's passing in 2024, the estate offered the work to the Fuhrmans, who moved it to their Long Island home. "It brings our family great joy and, for me, a constant stream of lovely memories of both Dorothy and, of course, Roy every time I look at it," Glenn Fuhrman said.

Several collectors demonstrated commitment to supporting museum initiatives and public access to art. Sean Parker, a new addition to the list, purchased works by Jacqueline Humphries, Julie Mehretu, and Yu Nishimura, then quickly donated them to Los Angeles museums. The Nishimura work went to LACMA, while the Humphries and Mehretu pieces were donated to MOCA. This pattern of acquisition followed by donation reflects a growing trend among collectors to use their purchasing power to benefit public institutions.

The global nature of contemporary collecting was evident in acquisitions spanning multiple continents and cultural traditions. Kiran Nadar's purchase of M.F. Husain's 1954 painting "Untitled (Gram Yatra)" reflected what she described as work that "reflects India's deep historical roots, its evolving future, and Husain's dialogue with international modernism as the visual chronicler of post-independence India." Similarly, Cindy and Howard Rachofsky's acquisition of Seung-Taek Lee's "Untitled" (1962) was part of their broader effort to expand holdings in postwar Korean art, which they noted "is not well collected in the US but is of global historical importance and relevance."

Technology and digital art also found representation among collector acquisitions. Ryan Zurrer's purchase of Refik Anadol's "Winds of Yawanawá" (2023) directly from the Yawanawá tribe supported their historic Ayahuasca Conference. He also donated a suite of digital paintings by Samia Halaby, including "Weavings" (1987), to MoMA. "Halaby's abstract digital works feel alive, unfolding and evolving across the screen in ways that still feel fresh today," Zurrer observed.

Looking at the broader implications of these collecting patterns, the 2025 acquisitions suggest a maturing market where established collectors are becoming more strategic and purposeful in their choices. Rather than simply accumulating prestigious names, many are focusing on building meaningful collections that support artists' careers, contribute to institutional holdings, and engage with both historical and contemporary dialogues in art. This shift toward more thoughtful collecting may represent a new phase in the art market, one where collectors see themselves as stewards and advocates rather than merely purchasers.