According to the Art Basel and UBS Survey of Global Collecting by Arts Economics, Gen Z spent more on fine art than any other generation in 2025 and the first half of 2026, with their average expenditure reaching $347,460, which is more than double that of Baby Boomers and other older generations.
This demographic accounted for nearly half of all collectors purchasing artworks priced above $1 million in 2026. The survey, which included 3,100 high-net-worth individuals, indicates that Gen Z's spending habits extend beyond art to other collectibles, such as sports memorabilia and luxury items, where they also lead in average spending.
Notably, Gen Z collectors are more likely to retain inherited artworks, with 90% holding onto family pieces, contrasting with only 64% of Gen X collectors. The presence of Gen Z at galleries and art fairs is increasing, particularly among women, who are also becoming significant players in the art market.
The overall art market is experiencing a recovery, with total sales rising 4% to $59.6 billion in 2025, and a positive outlook for growth is anticipated moving forward, as indicated by Clare McAndrew of Arts Economics. This shift in collector demographics suggests a transformative period for the art market, driven by younger, more diverse buyers