Gen Z overtakes older collectors as art market spending rebounds globally: report
Gen Z high-net-worth collectors have overtaken older generations as the art market’s biggest spenders, with average fine art expenditure more than twice that of older collectors, helping drive a global sales rebound to nearly US$60 billion, according to the latest Art Basel and UBS market insights. The surge came as mainland China and Hong Kong continued to play pivotal roles in the global art…
Gen Z collectors have surpassed older generations as the leading spenders in the global art market, according to a recent report. The average expenditure of Gen Z collectors on fine art is more than double that of their older counterparts, contributing to a rebound in global sales to nearly US$60 billion. Mainland China and Hong Kong remained crucial players in the art market's growth, with sales in China increasing to US$8.5 billion, helping stabilize the market amid property sector headwinds and economic concerns.
The survey, conducted by Art Basel and UBS, found that family was the primary motivation for collecting among all generations, while Gen Z was the highest-spending demographic in 2025 and the first half of 2026. Digital engagement increased, and buying decisions focused more on rarity and quality. However, some industry participants in Hong Kong noted that while Gen Z is driving global trends, their tastes lean more towards luxury goods and trendy collectibles rather than rare modern art or antiques.
Written by urgent.news from SCMP Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
