Owners Ross and Paula Featherston, back, auction off items at Austin Auction Gallery Friday, Jan. 20, 2023. The gallery house hosts monthly auctions that feature estate sales, antiques, and fine art from all over the world. Bidders can place their bids in person, over the phone, or online during the live auctions. (Mikala Compton/American-Statesman, Austin American-Statesman)
Texas is starting to look less like a secondary player in the American art world and more like one of the states helping reshape where serious collecting happens.
A new 2026 U.S. Art Market Report from Bank of America and ArtTactic places Texas among the four states that dominated art spending last year, alongside California, Florida and New York. Together, those states made up 46% of U.S. art spending volume in 2025. Texas ranked fourth for overall art spending and fourth for purchases above $1 million — a notable jump for a state that did not place in the top 10 for $1 million-plus buying a decade ago.
The report makes clear that New York still anchors the U.S. auction business, accounting for 69% of global auction sales value in 2025. But when the focus shifts from where auctions are held to where buyers are based, the map looks different — and more favorable to Texas.
The report’s regional data suggests Texas is part of a broader shift away from the traditional East Coast-centered collecting base.
Jeff and Susan Wilhelm of Oklahoma watch the live auction at Austin Auction Gallery Friday, Jan. 20, 2023. The gallery house hosts monthly auctions that feature estate sales, antiques, and fine art from all over the world. Bidders can place their bids in person, over the phone, or online during the live auctions. (Mikala Compton/American-Statesman, Austin American-Statesman)
In 2015, buyers in the Northeast accounted for 53% of U.S. purchases above $1 million. By 2025, that share had dropped to 32%. Over the same period, the Central South — the region led by Texas in the report — grew from about 1% of the $1 million-plus market to 7%. The Southeast also surged, helped by Florida.
Texas’ individual numbers reinforce that trend. For all transactions, the state ranked behind California, Florida and New York, with an 8% share of U.S. art spending. In the $1 million-plus tier, Texas held 6% of the market, again ranking fourth.
The report points to several factors behind Texas’ rise.
First Look at the “Frida Kahlo: Making of an Icon” at the Museum of Fine Arts Houston in Houston, Wednesday, Jan. 14, 2026. (Houston Chronicle/Hearst Newspap/Houston Chronicle via Getty Imag)
Authors link the growing presence of Texas and other Sun Belt states to the movement of ultra-high-net-worth households out of higher-tax states after the pandemic. They also cite the lack of a state income tax in Texas and Florida.
Another factor is cultural infrastructure. The report highlights expanding arts communities in Dallas and Houston as part of the explanation for the Central South’s growing prominence in high-end buying.
Texas’ rise is happening during a rebound year for the broader U.S. art market.
Nationally, U.S. auction sales totaled $3.17 billion in 2025, up 23.1% from 2024 after a stronger second half of the year. Even so, the market remained below the highs reached from 2021 through 2023. The report describes a market that is steadier than during the speculative run-up of the early 2020s, but also more cautious and more selective.
