During a recent research trip to Kyoto, I had the privilege of touring two exceptional institutions alongside Caroline Marschall as part of our ongoing efforts to deepen our understanding of global art markets.

At the Gion Museum, we studied exhibits that celebrate Kyoto’s historical geisha traditions and refined craft heritage. The museum’s presentation offered valuable insights into the preservation of cultural assets, an area of increasing relevance in the realm of personal property valuation.

We also visited the Kyoto City KYOCERA Museum of Art, one of Japan’s oldest public art museums. Its collection thoughtfully bridges classical Japanese artistic principles with modern interpretations, reflecting the sustained global interest in Asian art.

In addition to our museum visits, Caroline and I met with several local dealers in Kyoto to observe current pricing trends and examine the popularity of specific styles and mediums in the Japanese art market. These discussions allowed us to benchmark values and note the continued strength of works that emphasize traditional technique, calligraphy, and mid-century ceramics, particularly among international buyers.

A Growing U.S. Market for Asian Art

The United States maintained its position as the leading art market worldwide, accounting for 43% of global sales by value in 2024, despite a 9% decline in sales to $24.8 billion. This downturn was primarily attributed to a slowdown at the high end of the market, influenced by political uncertainty and broader economic factors. Nevertheless, the U.S. art market remains a central hub for high-value transactions, underscoring its continued significance in the global art landscape.

Concurrently, a generational shift is reshaping the art market, with Generation Z emerging as a formidable force within the Asian art sector. Born into the digital age, this demographic is characterized by their digital proficiency and progressive values, leading them to challenge traditional art collection conventions. They prioritize diversity, innovation, and accessibility in art, often favoring contemporary expressions and digital formats alongside classical forms.

This generation's approach to collecting is also influenced by cultural figures; for instance, K-Pop stars like RM of BTS have publicly shared their art collections, inspiring fans and highlighting contemporary Asian artists.

As Gen Z continues to shape the art market, their preferences and values are expected to drive further innovation and inclusivity within the Asian art sector. Their impact underscores the importance of understanding and engaging with this emerging demographic in the evolving landscape of art collection and valuation.

Probity Appraisal Group’s Strategic Expansion

In response to the growing demand for expert valuation of Asian art, Probity Appraisal Group is excited by an expansion of our service offerings, including new partnerships with specialists in the global art market. We are honored to collaborate closely with Ashley Crawford of Ashley Asian Art and Doug Bort of Odyssey Global Consulting. Ashley brings years of expertise in Asian art provenance research and private collections, while Doug contributes a deep understanding of international trade and global market positioning.

Together, we aim to meet the domestic and international valuation and research needs of museums, collectors, estate planners, and fiduciaries. Our work will continue to emphasize conservative, defensible appraisal methodology that reflects both the cultural significance and fair market value of each piece, supported by current data and market trends.

As interest in Asian art continues to grow, particularly among younger American collectors, we are proud to position Probity as a trusted resource in navigating the complexities of this dynamic sector.