Art Basel and UBS released the Survey of Global Collecting, produced by Arts Economics, drawing on responses from 3,100 high-net-worth individuals with at least $1 million in assets who actively buy art. The research looked at purchasing behavior in 2025 and into the first half of 2026, and it also captured activity in other collectible categories and how inherited works are handled.
The topline shift: Gen Z moved to the front of the pack for fine art spending in that period and, on average, put down more than twice what older generations did. In 2026, they also represented close to half of collectors purchasing pieces priced above $1 million.
Gen Z respondents reported average art spend of $347,460, a 19% increase year over year. Across all high-net-worth collectors, average spend in 2025 was $124,265.
Compared with Boomers, Gen X, and Millennials, they topped outlays in categories such as athletic collectibles, alcoholic beverages like wine, whisky, and other spirits, as well as premium sneaker collecting. In 2026, jewelry and gems displayed a particularly large disparity: Gen Z averaged $151,310, while Gen X - the nearest cohort - came in at $29,500.
Inheritance is not the sell signal many assumed: among those who inherited art, nearly 9 in 10 Gen Z collectors still hold those works, while 64% of Gen X said the same.
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As women gain a bigger slice of global wealth through careers, startups and inheritances, their footprint in collecting is broadening. According to the survey, women are buying more widely across mediums, from canvases and photo-based art to digital pieces and the work of up-and-coming artists. Men tilt higher on price: 13% of male respondents purchased works above $100,000 versus 7% of women.
New buyers are helping the broader market heal. After a stretch of declines, total art sales climbed 4% in 2025 to $59.6 billion. In early 2026, among collectors whose spend ranged from $1 million to $10 million, 19% were newer to the game with five years or less of collecting, while only 4% came from the very well established group collecting for more than 20 years.
"This tells a very different picture of who's out there buying art," said Matthew Newton, Head of Art Advisory Americas at UBS.
Noah Horowitz, CEO of Art Basel, said shows have become a draw for younger, female and self made VIPs. "Since Covid, we've seen significant volume, fair on fair on fair, of new VIP audiences coming to our shows," he said. "They are more female.
Clare McAndrew, founder of Arts Economics, sees momentum building.
Bottom line for your wallet: a wave of younger and more diverse buyers is reshaping what sells, at what price and where, from high-ticket masterpieces to jewelry and niche collectibles. If you watch art as an asset or a passion, this is the crowd setting comps and steering attention.
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