Generation Z has become the highest-spending generation among the world's wealthy collectors, according to the Art Basel and UBS Survey of Global Collecting 2026, released in Zurich on 8 October 2026. The research, conducted by Arts Economics with UBS, polled 3,100 high-net-worth individuals across ten markets — the US, UK, mainland China, Hong Kong, France, Australia, Germany, Japan, Brazil and Singapore — and found the youngest cohort spending at more than double the level of older generations through 2025 and the first half of 2026. Gen Z buyers also accounted for nearly half of all collectors acquiring works priced above one million dollars this year. Family legacy looms large in the findings. For the first time the survey examined how collectors begin, and family emerged as the most common entry route for 28 percent of all respondents, rising to 40 percent among Gen Z. Almost nine in ten young collectors who inherited works chose to keep them rather than sell. Uniqueness and rarity ranked as the leading reason to own art for 43 percent, rising to 48 percent among Gen Z. The survey also charts a more research-intensive buying culture. Some 72 percent of collectors undertook moderate or significant independent research before purchasing, up from 62 percent in 2025 and reaching 80 percent among Gen Z. Online sources remain the dominant advice channel for 58 percent, while the use of apps and AI-assisted tools for research leapt from 4 percent in 2024 to 22 percent this year. Tastes are diversifying: fine art represented 33 percent of total collectibles spending in 2026, and 42 percent of Gen Z collectors bought across at least two additional categories beyond fine and decorative art. Philanthropy and legacy planning remain central. Nearly a quarter of collectors said they intend to donate works to museums within the coming year, while others plan to back artist prizes, residencies or foundations. UBS chief economist Paul Donovan said the figures confirm the great wealth transfer is well under way.