Gen Z high-net-worth collectors spend over US$1m on art, double other generations: survey
Nearly half of Gen Z high-net-worth art collectors spent over US$1 million on artworks in 2026, double the rate of other generations, according to the Art Basel and UBS Survey of Global Collecting 2026. Family influence drives their interest, and use of AI tools for collecting has surged.
Gen Z is emerging as the highest spenders among high-net-worth (HNW) art collectors, with nearly half paying over US$1 million (HK$7.8 million) for artworks in 2026, double that of other generations, according to the Art Basel and UBS Survey of Global Collecting 2026 by Arts Economics.
The survey, which explored the evolving behaviours and motivations of 3,100 HNW collectors across 10 key markets, found that Gen Z paid twice as much on fine art as any other generation surveyed in 2025 and the first half of this year.
The global art market continued to gain momentum after a slowdown in growth over the previous year, with sales reaching US$59.6 billion in 2025. HNW collectors remain highly optimistic about the market outlook – 57 per cent of respondents expect growth over the rest of 2026, and 60 per cent are bullish on the next 10 years.
The survey highlighted that family has a fundamental impact on Gen Z’s interest in art collecting, with 40 per cent citing it as their primary route into collecting, compared to 28 per cent of other respondents. Meanwhile, nearly 90 per cent of Gen Z who inherited works retained them, underscoring the enduring role of family legacy across generations.
Across generations, 43 per cent of respondents believe uniqueness and rarity are the most important collecting aspect, followed by 23 per cent who prefer works respected by experts and 22 per cent who value pieces highly regarded within collecting circles. Uniqueness mattered more to Gen Z at 48 per cent, versus 38 per cent for Baby Boomers.
In addition, the use of digital resources and artificial intelligence research tools continues to rise – 58 per cent of HNW collectors use online resources for advice and recommendations, while the use of apps and AI tools jumped from 4 per cent in 2024 to 22 per cent.
The surveyed markets included the US, the UK, France, Germany, mainland China, Hong Kong, Japan, Singapore, Australia, Brazil, and more.