Wealthy Gen Z Collectors Are Outspending Everyone Else, Says the New Art Basel/UBS Report

The art world keeps asking where the next generation of buyers is. The latest Art Basel and UBS report has an answer, and it is a surprise: they’re already here and they’re spending more than their parents. The fifth Survey of Global Collecting, out Thursday (Oct. 8), found that Gen Z outspends every other generation, with an average expenditure in the first half of 2026 that already tops its full-year 2025 total, Hypebeast reports.

A caveat first. The 235-page report, written by arts economist Clare McAndrew, surveyed 3,100 high-net-worth collectors across 10 markets, so “Gen Z” here means wealthy Gen Z, ARTnews notes, a small sample whose habits still tend to move the market. On average, that group spent $347,460 in 2025, a 19% rise on the year before and more than twice what older generations spent, per ARTnews’s morning briefing.

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They also take more risks. Some 56% of Gen Z collectors bought work by an artist they didn’t know, against 36% of boomers, Hypebeast reports. Family is how most of them got started: 40% of Gen Z respondents cited a family collection or a relative’s encouragement as their way in, compared with 28% overall. A painting was among the first three purchases for 43% of all respondents.

The twist is how little they show off. Some 39% of Gen Z collectors restrict in-person access to close family, friends and household, nearly double any other generation, and 36% limit who can see their collections online. Author Clare McAndrew called that perhaps surprising.

Perhaps surprisingly, the youngest collectors were the most private, both in person and online. Gen Z collectors were the least likely to share details of their collections publicly online, preferring invitation-only spaces, with privacy central to their personal and cultural identity.

Clare McAndrew, author of the report, ARTnews

Discovery is going digital. About 32% of collectors say social media is a source of advice, with higher use among Gen Z and women, and the share using apps or AI tools for collecting advice has jumped from 4% in 2024 to 22% this year. Auction-house specialists (31%), advisers (30%), artists (29%) and dealers (27%) still lead. Generational differences on AI were small, ARTnews says: 23% of Gen Z use it.

Looking ahead, 57% of respondents expect the fine art market to grow through the rest of 2026, and Gen Z is the most optimistic group across every horizon, per Hypebeast. They get their next test within days. Frieze London opens Oct. 14 and Art Basel Paris follows on Oct. 21, and our Frieze Week guide has what to see in London.