WEB DESK: Wealthy Gen Z collectors spend far more on fine art than purchasers from any other generation, according to a report published on Thursday by Art Basel and Swiss bank UBS. The Survey of Global Collecting 2026 found that Gen Z collectors spent more than twice as much on artworks as older generations in 2025 and the first half of this year. They also made up nearly half of the buyers of works priced above $1 million. The findings challenge the common idea that young people are not serious buyers in the art world.
Background: A Yearly Look at How the Rich Collect
The survey is carried out each year by Arts Economics, led by Dr. Clare McAndrew, for Art Basel and UBS. This year, it covers 3,100 high-net-worth collectors in 10 markets: the United States, the United Kingdom, mainland China, Hong Kong, France, Australia, Germany, Japan, Brazil and Singapore. In the survey, high net worth means a net worth of more than $1 million in 2026, not counting real estate and private business assets.
Gen Z is the youngest adult generation in the sample. Millennials are described as aged 30 to 45, and Generation X as aged 46 to 61. The report looks at how much each group spends, what they buy, how they find art and why they collect.
Details: What the Numbers Show
Gen Z collectors spent an average of $347,460 on fine art in 2025, according to the report, which is up 19% from the previous year and more than twice the average of any older generation. Millennials came next, while wealthy Gen X respondents were the most frugal in their art spending, Reuters reported. Only 1% of the collectors surveyed bought a work priced above $1 million in 2025 and the first half of 2026, and Gen Z made up nearly half of those buyers.
In the first half of 2026, 13% of Gen Z collectors said they had spent more than $1 million on fine art, compared with 3% of all respondents. Younger buyers were also more willing to take risks. More than half (56%) of Gen Z collectors bought the work of an artist they did not know, compared with 36% of baby boomers.
Research has also changed the way people buy. In 2026, 72% of collectors did moderate or significant independent research before buying art, up from 62% in 2025, and the share rose to 80% among Gen Z. The number of collectors using AI tools to research purchases rose from 4% in 2024 to 22% now. Fine art made up 33% of total spending across art and collectibles, and Gen Z also led in other categories, including jewellery and gems, where they spent $151,310 on average.
Quotes: What UBS and Art Basel Said
Paul Donovan, chief economist at UBS Global Wealth Management, noted that younger collectors continue to prefer traditional categories such as painting and sculpture. “Some aesthetic preferences remain more consistent across generations than is often assumed,” he said. Matthew Newton, head of art advisory for the Americas at UBS, said the findings “tell a very different picture of who’s out there buying art.”
Noah Horowitz, the CEO of Art Basel, said that the company’s fairs around the world are becoming magnets for Gen Z visitors, especially women. The report also found that women attend about 20% more events than men on average.
Note for the writer: if you can find a verified comment from a gallery owner or an artist, add it here. Do not publish invented quotes.
Impact: A Changing Market
The shift suggests a “changing of the guard” in the market, as described by one trade publication. Almost 90% of Gen Z collectors who inherited artworks still hold them, compared with 64% of Gen X collectors, which suggests that family legacy matters to them. Uniqueness or rarity was also more important for Gen Z (48%) than for baby boomers (38%).
A big driver may be the transfer of wealth. The report cites UBS estimates that more than $83 trillion will be passed on globally over the next 20 to 25 years, with almost 90% going to younger generations. If that happens, galleries, auction houses and art fairs will have to adapt to buyers who do more research online and care strongly about privacy.
For readers who are looking for collectors’ art predictions for 2026 or popular art in 2026, the report gives a clear clue: painting and sculpture remain the core categories, even as younger collectors explore digital and other collectibles. The report does not cover Gen Alpha, the generation born after 2010, who are still children, so any predictions about their taste are speculation for now.
Conclusion: What to Expect Next
The art market is likely to focus more on younger buyers in the coming years, with new fair formats, online research tools and advisory services. Galleries may also face higher expectations for transparency and for clear information about artists.
At the same time, the survey measures only wealthy collectors in 10 markets, so it does not describe the whole art world. More reports and sales data will show whether Gen Z’s spending is a lasting change or a short-term spike. Further updates will follow.
Frequently Asked Questions (FAQs)
Who are Gen Z’s favorite artists?
The Art Basel and UBS report does not name favourite artists, and there is no single official list. What it shows is that wealthy Gen Z collectors are open to new names, since 56% bought the work of an artist they did not know, and that they still prefer traditional media such as painting and sculpture. Names that are often linked with younger audiences in general include Yayoi Kusama, KAWS, Banksy and Jean-Michel Basquiat, as well as many emerging artists who become popular through social media. Popularity changes quickly, and these names reflect general impressions and not survey results, so anyone writing about this should rely on auction data and gallery reports.
What is the 70/30 rule in art?
There is no single official “70/30 rule” in art, and the phrase is used in several different ways. In painting and design, it usually refers to a composition guideline where about 70% of the space or colour is used for a dominant element and 30% for a contrasting or supporting one, since uneven proportions often look more pleasing than an equal split. In the business of selling art, a split such as 70/30 can also describe how sales income is shared between an artist and a gallery or platform, although many galleries traditionally split proceeds 50/50. The rule is not mentioned in the Art Basel and UBS report, so readers should check the context where they find it.
Which country has the most art collectors?
No one counts collectors exactly, so there is no official number. The best clue is the size of the art market, where the United States has been the largest by sales for many years, followed by China and the United Kingdom. The Art Basel and UBS survey covers 10 key markets, including the United States, the United Kingdom, mainland China, Hong Kong, France, Australia, Germany, Japan, Brazil and Singapore, and it reports that collectors in China, Hong Kong and Singapore are among the most research-driven. Rankings by sales can change from year to year with economic conditions, so readers should check the latest Art Basel and UBS Art Market Report for current figures.
