Gen Z collectors are outspending every other generation in the art market by a wide margin, according to the fifth edition of the Art Basel and UBS Survey of Global Collecting, authored by arts economist Dr Clare McAndrew and released this week. The survey polled 3,100 high-net-worth collectors across ten markets including the US, UK, mainland China, Hong Kong, France, Australia, Germany, Japan, Brazil and Singapore. Gen Z respondents — defined as aged 20 to 29 — averaged $347,460 in fine-art spending in 2025, up 19 percent on the previous year and more than double the average of any older cohort, with Gen X the most restrained spenders. Gen Z accounted for nearly half of all purchases priced above $1 million in 2025 and the first half of 2026, and 13 percent of Gen Z buyers spent more than $1 million in total on fine art in the first half of this year, against 3 percent of respondents overall. Average fine-art expenditure across all respondents rose 13 percent to $124,265 in 2025. Family wealth plays a central role: 40 percent of Gen Z respondents said family was their primary route into collecting, and nearly 90 percent of those who inherited works kept them. Younger buyers nevertheless continue to favour traditional categories such as painting and sculpture, and uniqueness and rarity rank as their strongest motivations, above recognition by experts or peers. The survey also documents a digital turn. Some 72 percent of collectors now conduct moderate or significant independent research before buying, up ten points on last year, rising to 80 percent among Gen Z. Use of apps or AI tools for collecting advice has jumped from 4 percent in 2024 to 22 percent, while 58 percent of high-net-worth collectors use digital resources including Instagram or X. Younger collectors are also the most private about sharing their holdings.