People under 30 —or, to use a term that’s currently in vogue, Gen Z—are the generation that spent the most on art in the first half of 2026. Not only that: among collectors under 30 surveyed by Art Basel and UBS, one in eight spent over a million dollars on art. Among collectors of all ages, that figure stands at 3%. These young collectors, however, are also the least likely to show what they buy: nearly four in ten do not show the works to anyone outside their family or closest circle, and online, only one-quarter publicly share content about their collection.
These are two findings from the same report, the fifth standalone edition of the Art Basel and UBS Survey of Global Collecting, edited by Clare McAndrew of Arts Economics. The report devotes considerable attention to the market in general: sales channels, purchasing intentions, and the relationship with artificial intelligence. But when it comes to Gen Z, it paints a picture that doesn’t match the stereotype of the young, digitally savvy buyer who is exhibitionist and quick to speculate: for those involved in art—and not just the art market—this reading may not be new, but it’s still worth examining carefully and with some caution.
The first point of caution concerns the sample: the survey involved 3,100 people across ten markets—namely, the United States, the United Kingdom, France, Germany, mainland China, Hong Kong, Singapore, Japan, Australia, and Brazil. Italy, therefore, is not included. To qualify for the survey, respondents had to have a net worth exceeding $1 million, excluding real estate and business assets. Respondents also had to have spent more than $10,000 on art and decorative arts in both 2024 and 2025, and more than $5,000 in the first half of 2026.
Gen Z, defined here as those aged 20 to 29, accounts for 9% of the sample. Millennials (ages 30–45) make up 44%, Generation X (ages 46–61) 25%, and baby boomers (ages 62–80) 22%. We are therefore talking about a small and very specific group: wealthy young people, and wealthy in a way that differs from their peers. Among Gen Z collectors, 37% cite family as the primary source of their wealth, whether through inheritance or marriage (in the entire sample, this figure is 15%).
The report also notes that the so-called “great wealth transfer” (UBS estimates that over $83,000 billion will pass between generations over the next twenty years or so) will primarily affect Millennials and Gen X in the immediate term, while Gen Z will still receive a significant amount, but over time. It is within this context that their emergence as major buyers should be understood.
In 2025, the average art spending among the sample group was $124,265, up 13% from 2024. For Gen Z, the average was $347,460, an increase of 19%. In the first half of 2026, the gap remained unchanged: younger collectors spent more than twice as much as their older counterparts. The report cautions, however, against being misled by the averages, as they are skewed upward by a small minority of very wealthy buyers. In the overall sample, 77% spent less than $50,000 on art during the six-month period, and 84% spent less than $100,000. But even when looking at the median—which is not affected by outliers—Gen Z’s spending is still at least 50% higher than that of older generations.
Another statistic helps explain what is happening. The number of works purchased is roughly the same across generations: an average of six works in both 2024 and 2025, and three in the first half of 2026. Young people, therefore, are not buying more—they are buying at higher prices.
As for the highest price bracket, only 1% of all respondents purchased a work priced above $1 million in 2025 and the first half of 2026. Among them, Gen Z accounts for nearly half. About 5% of Gen Z collectors made a purchase at this level, compared to 1% or less in all other age groups. These are small numbers, and the report emphasizes this: the high end of the market remains extremely narrow, even among the very wealthy.
If we look beyond art, the picture becomes more interesting: for those under 30, art is just one part of their spending. When art and collectibles are combined, Gen Z allocates about half of its budget to the latter, with high proportions going toward jewelry and gemstones, antiques, and collectible luxury handbags. The report notes that the arts account for 28% of Gen Z collectors’ total spending, which is the lowest share among the generations (for boomers and millennials, the figure reaches 36%).
The gap is widest in the jewelry sector: in 2026, Gen Z spent an average of $151,310—more than five times the average for Generation X ($29,500), which ranks second in terms of spending. In sectors such as sports memorabilia, wine, whiskey, and spirits—as well as collectible sneakers—spending is three to five times that of the next-highest group. A significant proportion of young people are branching out in multiple directions: 24% have purchased items in four or more categories of collectibles, compared to 14% of baby boomers, 10% of millennials, and 8% of Generation X. In short, this is the generation that makes the most diversified purchases. But can someone who buys sneakers or handbags also be an art collector? The report responds cautiously: there is no evidence in the sample that luxury serves as a gateway to art. Less than 2% of Gen Z collectors started with sneakers or handbags. In short, the two seem to run parallel, rather than one leading to the other. The study’s hypothesis is that a small, wealthy, and highly active group of young people is entering the market by buying extensively and at high price points, especially in categories related to fashion and pop culture—and not just in traditional art.
And yet, traditional art is by no means secondary. Purchase intentions for the next twelve months indicate that 64% of those under 30 are ready to buy a painting, compared to 49% of the overall sample. Next come sculpture (43%, the highest share across all generations) and the decorative arts, which, at 40%, are the most sought-after collectible category among this age group. Then come watches, at 31%. Gen Z leads in eight out of ten categories. The exceptions are antiques, where boomers lead, and sports memorabilia, where millennials are slightly ahead.
Stereotypes about young buyers tend to portray them as a sort of… algorithm-driven creature, who primarily purchase digital works or are otherwise swept along by the internet, social media, and so on. But the numbers paint a completely different picture. Let’s start with how it all begins: for 40% of Gen Z collectors, the path to art began with their family—that is, through a family collection or encouragement from a relative. In the overall sample, this figure stands at 28%. The internet as a gateway is even less significant for younger people (10%) than it is for Generation X (16%). The report describes this as data that contradicts the notion that young people are drawn to collecting primarily through digital channels, and concludes that intergenerational transmission and in-person experience remain decisive factors.
Moreover, inheriting does not mean selling. It is often assumed that heirs quickly dispose of what they have received, either because their tastes have changed or because they need cash. However, among those who have inherited artworks, nearly 90% of Gen Z still own them, compared to 64% of Generation X. This figure should, however, be taken with a grain of salt, so much so that the report immediately adds a note: this difference may stem from the fact that less time has passed since the inheritance for younger people, and the data is consistent with the pattern of people keeping what they receive—at least initially. In Brazil, the figure reaches 97%, while in Japan—where older collectors have sold off a great deal—86% of young people have kept what they received. For the market, this is no minor detail: the baby boomers in the sample have collections averaging 70 works, nearly double the 36 held by Gen Z. What the heirs of those works will do, the report notes, will have a significant impact on the market over the next twenty or thirty years.
Another key finding: those under 30 do their research. Eighty percent of Gen Z collectors say they conduct “moderate” (43%) or “significant” (37%) personal research before buying, compared to 59% of Generation X and 69% of baby boomers. When seeking advice, they turn more often than others to art consultants (35%) and artists (33%). They also rely more on social media than others: 22% say they’ve used recommendations on Instagram and 23% on X. For apps and artificial intelligence tools, the figure is 23%, just above the 21% for Generation X and baby boomers—a marginal difference, as the report itself notes.
Younger people are also the least cautious when it comes to artists. 56% of Gen Z has purchased works by a newly discovered artist, compared to 36% of boomers. This figure becomes significant when looking at the entire sample: the percentage of those who have purchased work by an unknown artist has dropped to 45%, the lowest level in five years, compared to 66% in 2025. According to the report, this is a sign of greater risk aversion and a return to established names. Young people, on the other hand, are moving in the opposite direction. They also view the market with confidence: they are the most optimistic generation across the board, especially in the long term. The report notes that this optimism is focused on art, while expectations for other collectible sectors are cooling off in the long term.
When asked what drives them to collect, Gen Z respondents cite passion or a compulsion to collect more often than others (23%). The percentage of those citing the preservation of family traditions is also higher than average (16%, compared to 11% overall). And when those under 30 are asked what matters most about owning a work of art, the most frequent answer is uniqueness or rarity: 48% of Gen Z collectors cite this, compared to 38% of boomers. Works valued by experts or admired within collector circles matter less to them than to older generations (34% versus 43%).
One possible interpretation—and the report suggests this—is that this generation seeks individual distinction rather than the approval of the art world. In terms of philanthropy, incidentally, a foundation or private museum is the most popular project among Gen Z collectors (29%).
We return to the figure we started with. Over the past year, 39% of Gen Z collectors have limited in-person viewing of their artworks to family or close friends. That’s nearly double the rate of any other generation. Gen Z is also the most private online: 36% keep content about their collection within private circles. Only 25% share it publicly, compared to 36% of Millennials, and only 24% say others have posted something about their collection, compared to 36% of Millennials.
Yet young people certainly don’t want to hide: some data seems to contradict this attitude. In fact, Gen Z is also the generation that shares the most in small groups or by invitation: 42%, compared to 30% of Gen X. The report concludes that these collectors prefer to limit their audience rather than forgo sharing altogether. When they share online, they do so primarily for personal enjoyment (28%, the highest percentage among the generations), followed by gaining visibility or recognition (25%), and to demonstrate their knowledge (23%). The authors note that Gen Z may not share less than other generations, but rather share more selectively.
The gender gap runs counter to the trend seen in the rest of the sample. In general, men are more reserved than women (23% versus 20%), but among Gen Z, the opposite is true: 37% of female collectors display their works only within their own homes, and another 8% show them only to family members and close friends. Among male collectors, the figures are 16% and 12%. This is the widest gender gap across all generations, and it runs in the opposite direction to that of the rest of the sample. The report cites previous studies indicating that young female collectors are more risk-averse and more sensitive to social judgment, and notes that the proportion of women willing to take risks increases with age.
How can all this be explained? The report puts forward several hypotheses, keeping them distinct. One is straightforward: Gen Zers have been collecting for a shorter time and consequently have smaller collections (only 3% have more than 100 works, compared to 18% of boomers), so they may simply have less to show. Another draws on research about young consumers cited in the text: Gen Z is more mindful of its digital footprint and is less concerned about fraud in the strict sense than about how what they post might be shared further, with the risk of judgment, professional damage, or unwanted attention. For this reason, the text notes, they prefer small, select audiences. This is confirmed, in the sample, by the hierarchy of concerns. Market transparency ( opaque pricing, undisclosed fees, conflicts of interest) ranks first for Millennials, Generation X, and Boomers, but comes in second for Gen Z. The top concern for Gen Z is the security of personal, financial, and online collection data.
Young people also visit galleries: in the overall sample, 87% have purchased from a dealer in the past year, and the most commonly used channel is the direct relationship with the gallerist, although about two-thirds of those who prefer dealers say they complete transactions via website, phone, email, or Instagram rather than in the gallery. Gen Z stands out for its use of multiple channels: 69% combine them. They are also the least likely to buy exclusively in person, and 73% have made purchases at art fairs, not far behind boomers (77%). Fifty-nine percent of Gen Zers have bought at auction, compared to 46% of Gen Xers and 43% of millennials.
Direct relationships with artists are also on the rise: in the overall sample, 69% have purchased directly from an artist—more than double the figure from 2024. Purchases from studios account for 48% of the total, commissions for 40%, and purchases on Instagram for 38%. Direct sales by artists are the second-largest channel by value, accounting for 19% of spending, ahead of art fairs (15%) and auctions (10%).
The picture that emerges from the report is therefore more nuanced than the common stereotypes about young people entering the market. These collectors under the age of 30 are wealthy—often thanks to their families—and are introduced to art primarily through their homes and visits to museums rather than through screens, social media, or algorithms. They spend a lot, buy across a wide range of genres, take some risks on emerging artists, and keep their acquisitions for themselves.
However, there are still many caveats. The Gen Z sample is small, accounting for about 9% of 3,100 respondents. These are self-reported statements, not verified transactions, and regarding spending in the first half of the year, the report itself notes the risk of overestimation due to memory bias and a certain degree of optimism when reporting recent purchases. Furthermore, comparisons with previous years provide contextual data, as the composition and size of the sample vary from one edition to the next. Finally, the optimism of young people must be viewed in light of the fact that they have only recently entered the market: 61% of Gen Z have been collecting for five years or less.
For those who work with collections, museums, and galleries, the most interesting point may be another: while younger collectors are also the least inclined to go public—and a desire for anonymity or discreet recognition generally prevails—the report suggests that the visibility of private collections may become increasingly limited. The report states that the moment of discovery and the conversations that follow remain at the heart of the market. But for these young people, those conversations are taking place within increasingly smaller circles.
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| Gen Z spends the most on art (but doesn't want to show off their collections) |
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