Wealthy Gen Z collectors are now the art market’s biggest spenders. Art Basel and UBS Survey of Global Collecting polled over 3K high-net-worth collectors and found Gen Z spent an average of $347.4K on art in the last year and a half, up 19% from the prior period. That’s also more than double what gens before them spent, against an overall average of $124.3K. They made up nearly half of all collectors buying works priced above $1M in 2026, and their spending stretched into other collectibles, too, from sports memorabilia to luxury sneakers. In jewelry alone, Gen Z collectors spent over five times more than Gen X! They’re also hanging onto family heirlooms: almost 90% of Gen Z collectors still hold inherited works, compared to 64% of Gen X, which challenges the assumption that younger buyers want to sell off their parents’ collections. Art Basel’s CEO says its fairs are drawing younger, more female, more self-made VIPs who “lean in significantly” once they decide to buy, though males “were more likely to buy at higher price points.” (CNBC)
👀 Read more from YPulse: What Items Are Gen Z and Millennials Collecting?
