Abstract:
A new survey shows that Generation Z has become the most active buyer of high-end art, changing the art market landscape that has long been dominated by baby boomers. According to the Global Collection Report launched by Art Basel and the UBS Institute of Art Economics, in the first half of 2025-2026, Generation Z will spend more on fine art than any other generation; its consumption scale is more than twice that of the baby boomers, Generation X, Millennials and older generations. According to the survey, Generation Z will account for nearly half of all collectors who purchase art worth more than US$1 million in 2026.
This survey targeted 3,100 high-net-worth individuals who are active in the art market and have assets exceeding one million US dollars.
The average art consumption of Generation Z collectors surveyed reached US$347,460, a year-on-year increase of 19%. For comparison, the average art expenditure of all high-net-worth collectors in 2025 will be $124,265.
In other collectible categories, Generation Z is also the top consumer group. In the fields of sports souvenir collections, wine, whiskey and spirits, and luxury collectible sneakers, Generation Z has the largest consumption lead over baby boomers, Generation X, and Millennials. The gap is particularly wide in the jewelry and gemstone category: Generation Z will spend $151,310 per capita in this category in 2026, more than five times that of the second-ranked Generation X ($29,500).
Matthew Newton, head of art consulting at UBS Americas, said: "This report shows us a completely different portrait of art buyers. The art circle is widely discussing how to accept and attract this generation, and the data proves that this group of people has already entered the market and is very active in transactions."
In addition to their spending power, Generation Z is also increasingly present in galleries, museums, and art fairs. Noah Horowitz, CEO of Art Basel, said that Art Basel shows around the world are very attractive to Generation Z, especially female Generation Z.
"After the COVID-19 epidemic, each of our exhibitions has welcomed a large number of new VIP visitors." He said, "Among them, women account for a higher proportion. These people are younger, most of them are self-made, and have a strong willingness to consume. Once they are willing to invest, they are quite generous."
Generation Z is more inclined to preserve the art pieces inherited from the family. Nearly 90% of Gen Z collectors who own family heirlooms choose to continue to hold them; compared to only 64% of Gen X collectors. This conclusion subverts the common stereotype of the art market: the market generally believed that Generation Z and Millennials do not want the collections of the previous generation and prefer to resell them.
Women have also gradually grown into an important force in the art market. The report points out that as women gain more and more global wealth through salary income, entrepreneurship, and inheritance, they collect in a wider range of categories than men. Men are more willing to buy high-priced works, with 13% of men buying works worth more than $100,000, compared with 7% of women. However, women are more involved in various media such as painting, photography, digital art, and works of emerging artists.
After nearly three years of decline, the art market has recovered rapidly with the help of Generation Z and female buyers. Report data shows that total global art sales rose 4% in 2025 to $59.6 billion. The report shows that in the first half of 2026, among collectors with a consumption range of US$1 million-10 million, 19% are new collectors who have been in the industry for less than five years; while only 4% are senior collectors with more than 20 years of collecting experience.
Claire McAndrew, founder of the Institute of Art Economics, said that the art market has a bright future this year.
“Looking ahead to the market outlook, the overall market sentiment is optimistic.” She said, “Whether it is half a year, a year, or a 5-10 year cycle, most respondents in each segment we surveyed expect the art market to continue to grow.”
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