Wealthy Gen Z collectors are spending more on fine art than buyers from any other generation, according to the Art Basel and UBS Survey of Global Collecting 2026, the fifth edition of the annual study compiled by Arts Economics. The survey polled 3,100 high-net-worth individuals, defined as having net worth above $1 million excluding real estate and private business assets, across ten major markets including the US, UK, mainland China, Hong Kong, France, Australia, Germany, Japan, Brazil and Singapore. Gen Z, defined as those aged 20 to 29, spent more than twice as much as older cohorts during 2025 and the first half of 2026. On average, the Gen Z collectors surveyed spent $347,000 on fine art last year, compared with $79,000 among their Gen X counterparts, while Baby Boomers were the second-biggest spenders. Gen Z also made up nearly half of all collectors buying works priced above $1 million this year. Family influence looms large: 40 percent of the Gen Z respondents said family was their primary route into collecting, and almost 90 percent of those who inherited works kept them. Uniqueness and rarity mattered more than peer or expert approval to about half of respondents, especially younger ones. Collectors are also doing more homework before buying: 72 percent reported moderate or significant independent research, up from 62 percent in 2025, and the share using apps and AI tools for purchase advice rose from 4 percent in 2024 to 22 percent. UBS chief economist Paul Donovan said the findings confirm that younger collectors still favour traditional categories such as painting and sculpture, with aesthetic preferences more consistent across generations than often assumed.