Gen Z collectors now spend most on art, averaging $347,460, Art Basel-UBS survey finds

Wealthy collectors from Generation Z, people born roughly from the late 1990s to the early 2010s, are now the biggest spenders on fine art, according to the Art Basel and UBS Survey of Global Collecting 2026, released on 8 October 2026. The survey of 3,100 high-net-worth collectors in 10 markets found that Gen Z collectors spent an average of 347,460 dollars on fine art in 2025, up 19% on the year before and more than double the average of any older generation. They also accounted for nearly half of all art purchases priced above 1 million dollars in 2025 and the first half of 2026.

The art world has long been associated with older, established collectors. This survey suggests that, at least at the top end, the money is shifting to a much younger group. That matters for galleries, auction houses and art fairs, which are rethinking how they reach buyers who grew up online, and for young artists whose careers depend on who is buying.

It is important to read the finding carefully. The survey covers only high-net-worth individuals, so it describes the habits of wealthy young people, many of whom have inherited money or grown up in collecting families. The finding that 40% of Gen Z collectors were introduced to art through family supports that reading. It does not mean that young people in general are spending large sums on art. Gen Z was also a small part of the sample, about 9% according to one report, so the averages rest on a relatively small group.

Some patterns are surprising. Despite being digital natives, Gen Z collectors were the most private group in the survey and the least likely to share their collections publicly online, preferring invitation-only spaces. Younger buyers also still favour traditional media such as painting and sculpture. Meanwhile, collectors of all ages are doing more homework before buying: the use of apps and AI tools for advice jumped sharply, and most collectors said they researched a purchase independently.

For young Indian readers, the survey is a view of global trends rather than of India, which was not one of the markets covered. But its themes, from the influence of family to the growing use of AI in buying decisions and a taste for physical art, are likely to be familiar to anyone following India's own gallery and art fair scene.

Short-term: Galleries and auction houses are likely to tailor private viewings, events and digital tools to younger wealthy buyers, given their spending power.

Long-term: If young collectors keep favouring painting and sculpture and buying through private networks, the art market may stay focused on traditional media even as buying research moves online and to AI tools.

Who is affected: Galleries, auction houses and art fairs; artists, especially early-career painters and sculptors; art advisers whose role is changing as AI tools spread; and young people interested in art careers.

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