Art Basel and UBS commissioned Arts Economics to conduct the "2026 Global Collector Survey," which shows that in 2025 and the first half of 2026, Gen Z's spending on art exceeds that of any older generation, more than doubling it; nearly half of collectors purchasing works priced over $1 million are from Gen Z.

The sample consisted of 3,100 high-net-worth individuals active in the art market across 10 markets, each with a personal net worth of at least $1 million, excluding real estate and private business equity. Gen Z is defined in the survey as those aged 20 to 29, making up only 9% of respondents, approximately 279 individuals. In 2025, they spent an average of $347,460 on art, a 19% increase from the previous year; the overall average was $124,265, up 13% from 2024. In the first half of 2026, Gen Z's average spending was about $329,000, surpassing their full-year average for 2025, while the overall average was about $136,000.

Purchases over $1 million represent a narrow sample. From 2025 to the first half of 2026, only 1% of respondents bought works priced over $1 million, with Gen Z accounting for nearly half of these buyers. In the first half of 2026, 13% of Gen Z collectors spent over $1 million on art, compared to only 3% of all respondents. The number of pieces purchased across generations is roughly similar, with the spending gap primarily due to higher prices rather than increased frequency of purchases. Most transactions still occur at lower price points: in the first half of 2026, 77% of high-net-worth collectors spent less than $50,000, and 84% spent less than $100,000.

This younger group also leads in cross-category spending. In jewelry and gemstones, Gen Z's average spending in 2026 was $151,310, more than five times that of the next highest group, Gen X, at $29,500. They also lead in spending on sports memorabilia, wine, whiskey, and luxury sneakers. 42% of Gen Z purchased at least two categories of collectibles outside of art in 2026, compared to 39% of Baby Boomers, 22% of Millennials, and 23% of Gen X. Paintings remain the most purchased medium, with 82% of Gen Z buying in this category during the period, compared to 76% overall.

The path into collecting is family-oriented. Overall, 28% consider family the primary entry point, while this rises to 40% for Gen Z; nearly 90% of Gen Z inheritors choose to keep rather than sell the works. Author Clare McAndrew states this contradicts the industry assumption that "young people no longer collect." Gen Z allocates 18% of their wealth to art, higher than the 14% allocated by Millennials and Gen X; those with a net worth over $50 million average 23% allocation.

This survey targets the existing wealthy population, not data on all-age consumption. Buyers are young high-net-worth individuals entering the market with family collections and higher-priced purchases; sellers are galleries and older collectors pricing according to Baby Boomer standards, waiting for public auctions. Beneficiaries are the primary market that can attract private high-priced and high-research buyers; those under pressure are mid-tier works reliant on exhibition exposure and expert endorsement, as 43% of collectors cite scarcity as the primary reason for holding, while expert endorsement accounts for only 23%.

Source: Public Information