Wealthy Gen Z collectors are the art market’s biggest spenders, survey finds

Gen Z, the youngest age group of high-net-worth art collectors, is spending more on art than any other generation according to the Art Basel and UBS Survey of Global Collecting. Despite some skepticism about their dedication to collecting, these young collectors demonstrate high levels of engagement with the art world. The survey polled 3,100 individuals with at least $1 million in personal net wealth and found that Gen Z (ages 20-29) accounted for 9% of respondents but showed the highest average spending on art.

In 2025, Gen Z collectors spent an average of $347,460 on fine art, a 19% increase from the previous year and more than double the average spending of older generations. In just the first half of 2026, Gen Z spending on art exceeded their full-year 2025 average, highlighting their consistent activity in the art market. While the survey found that Gen Z's spending was primarily driven by purchasing higher-priced works, 1% of collectors bought artwork valued over $1 million, and nearly half of those buyers were Gen Z. Family wealth and influence are significant factors in the collecting journeys of these young collectors, with 37% of Gen Z respondents indicating family-related sources of wealth and 40% reporting family influence encouraging their collecting habits.

In-person engagement with the art world is also strong among Gen Z collectors, with the majority attending art-related events weekly in 2025 and 2026. Despite a reported decline in risk-taking among collectors overall, Gen Z remains more open to discovering and purchasing works by unfamiliar artists. The survey also reveals a shift towards direct artist sales and commissioning works, with 69% of collectors buying directly from artists and 48% purchasing from artist studios.

However, galleries still remain the primary route into the art market, with 87% of collectors purchasing through galleries.