Key facts
- Wealthy Gen Z collectors spent more than twice as much on fine art as older generations in 2025 and the first half of this year.
- Gen Z collectors spent an average of $347,000 on fine art last year.
- Gen X collectors spent an average of $79,000 on fine art last year.
- 40% of Gen Z respondents cited family influence as their primary route into collecting.
- 22% of respondents are now using AI tools for art research purchases, up from 4% in 2024.
Wealthy collectors from Generation Z are spending significantly more on fine art than older generations, according to a report released by Art Basel and UBS. The survey, which included 3,100 high-net-worth individuals across 10 major markets, indicated that Gen Z buyers spent more than double the amount on art compared to their older counterparts during 2025 and the first half of this year.
Paul Donovan, chief economist at UBS Global Wealth Management, noted in the report that aesthetic preferences for traditional categories like painting and sculpture remain consistent across generations. The study defined Gen Z as individuals aged between 20 and 29. Baby Boomers, aged 62 to 80, were identified as the second-largest spending group, followed by Millennials (30-45). Gen X respondents, aged 46 to 61, were found to be the most conservative in their art expenditures.
Last year, the average Gen Z collector surveyed spent $347,000 on fine art, a stark contrast to the $79,000 spent by their Gen X counterparts. The report also revealed that 40% of Gen Z respondents attributed their entry into art collecting to family influence. Furthermore, nearly half of all respondents prioritized the uniqueness and rarity of an artwork over its expert or collector-approved status.
The survey defined high-net-worth individuals as those with a net worth exceeding $1 million in 2026, excluding real estate and private business assets. The report also highlighted a significant increase in the use of AI tools for art purchasing research, with adoption rising from 4% in 2024 to 22% currently.