Gen Z is spending more on art than ever before. It’s a key piece of the Great Wealth Transfer, UBS says
Source: Fortune ·
Gen Z, whose oldest members are just 29, made up nearly half of high-net-worth collectors who purchased artwork priced about $1 million.
From the source
The art world’s biggest spenders are getting younger and younger. Gen Z, whose oldest members are just 29, outspent every other generation on fine art in 2025 and the first half of this year. That’s according to a newly-released UBS and Art Basel survey of high-net-worth collectors, which found that Gen Z spent more than twice as much on fine art than older generations, while also accounting for nearly half of collectors who bought artwork priced above $1 million. Average fine art spending for Gen Z respondents also jumped a whopping 19% in a year to $347,460, which is much higher than the average spend among the bank’s wider high-net-worth clientele at $124,265. But what did Gen Z spend this money on exactly? The survey says they had the broadest taste among the generations, ranging from paintings, sculptures, digital art and luxury collectibles. According to Matthew Newton, the executive director and head of Art Advisory Americas on the Family Office Solutions team, the Gen Z…