Gen Z is emerging as the highest spenders among high-net-worth (HNW) art collectors, averaging US$347,460 (HK$2.71 million) on fine art in 2025 and the first half of 2026, nearly tripling that of other generations, the Art Basel and UBS Survey of Global Collecting 2026 by Arts Economics said.
Their average spending rose 19 percent from 2024, compared to the US$124,265 average fine art expenditure across the HNW individuals sample, which increased 13 percent in the same period.
The survey explored the evolving behaviors and motivations of 3,100 HNW collectors across 10 key markets, including the US, the UK, France, Germany, mainland China, Hong Kong, Japan, Singapore, Australia, and Brazil.
Gen Z had the most wide-ranging collecting habits, ranging from paintings and digital arts – the most popular among HNW collectors – to sculpture and luxury collectibles. They also had by far the largest share of collectors spending over US$1 million in total on fine arts in the first half of 2026, accounting for 13 percent of respondents, versus only 3 percent of collectors overall.
After a slowdown in growth over the previous year, the global art market continued to gain momentum in 2025, with sales reaching US$59.6 billion. HNW collectors remain highly optimistic about the market outlook – 57 percent of respondents expect growth over the rest of 2026, and 60 percent are bullish on the next 10 years.
The survey highlighted that family has a fundamental impact on Gen Z’s interest in art collecting, with 40 percent citing it as their primary route into collecting, compared to 28 percent of other respondents. Meanwhile, nearly 90 percent of Gen Z who inherited works retained them, underscoring the enduring role of family legacy across generations.
Overall, 43 percent of respondents believe uniqueness and rarity are the most important collecting criteria, followed by 23 percent who prefer works respected by experts, and 22 percent who value pieces highly regarded within collecting circles. Uniqueness mattered more to Gen Z at 48 percent, versus 38 percent for Baby Boomers.
In addition, the use of digital resources and artificial intelligence research tools continues to rise – 58 percent of HNW collectors use online resources for advice and recommendations, while the use of apps and AI tools jumped from 4 percent in 2024 to 22 percent.
