The Art Basel and UBS Survey of Global Collecting 2026 reveals Gen Z as the highest-spending generation

Zurich, October 8, 2026 – The Art Basel and UBS Survey of Global Collecting 2026 by Arts Economics, reveals fresh insights into the evolving behaviors and motivations of high-net-worth (HNW) collectors. Conducted by Arts Economics in collaboration with UBS, the survey draws on responses from 3,100 HNW individuals across 10 key markets: the US, UK, Mainland China, Hong Kong, France, Australia, Germany, Japan, Brazil and Singapore.

Dr Clare McAndrew, Founder, Arts Economics: ”This research let us look beyond what high-net-worth collectors buy to how they use their collections and what really matters to them about owning art. Attitudes towards privacy and access varied widely, challenging some established assumptions. Many purchases are driven less by the conspicuous consumption traditionally linked to the market than by a desire to build connections within close networks, where status comes less from price than from rarity, provenance, originality, and discovery. Restricting access does not remove a collection’s signaling power; exclusivity can be part of the signal. Perhaps surprisingly, the youngest collectors were the most private, both in person and online. Gen Z collectors were the least likely to share details of their collections publicly online, preferring invitation-only spaces, with privacy central to their personal and cultural identity.”

Paul Donovan, Chief Economist, UBS Global Wealth Management: "As a leading global wealth manager, UBS has been tracking the Great Wealth Transfer for several years, and the Art Basel and UBS Survey of Global Collecting 2026 by Arts Economics confirms that it is well underway. Gen Z reported the highest average spending, 40% entered collecting through family influence and almost 90% retained inherited works. At the same time, younger collectors continue to favor traditional categories such as painting and sculpture, suggesting that while collecting habits are evolving, some aesthetic preferences remain more consistent across generations than is often assumed."

Noah Horowitz, CEO, Art Basel: “This year’s Art Basel and UBS Survey of Global Collecting points to a collector base that is increasingly informed, digitally engaged, and active across categories and channels. The boundaries of collecting are expanding, shaped by significant intergenerational shifts, as Gen Z collectors emerge as the highest-spending generation surveyed. They bring a new set of expectations and behaviors that will influence the way the collectors of the future engage with the art market. For Art Basel, this reflects what we have been witnessing across our global platform, as younger collectors engage through more diverse entry points and trusted relationships spanning in-person, digital, and tailored year-round moments of connection, discovery and acquisition. Engaging these audiences is central to the future direction of the market, and to how we continue strengthening our platform for collectors today and tomorrow.”

Key findings of the survey:

• Gen Z emerges as the highest-spending generation of HNW collectors: In 2025 and the first half of 2026, Gen Z spent more on fine art than any other generation surveyed, with spending levels more than twice as high as those of older generations. Gen Z also made up nearly half of all collectors buying artworks priced above USD 1 million in 2026.
• Family remains an important foundation for collecting: The survey offers the first dedicated analysis of how HNW collectors begin building their collections and finds that family is the most common route to starting a collection. While 28% of collectors reported family as their primary route into collecting, the share rose significantly to 40% among Gen Z. Almost 90% of Gen Z collectors who inherited works retained them, underscoring the enduring role of family legacy in shaping collections across generations.
• Uniqueness and rarity stands out as the leading priority in owning art: Across generations, uniqueness and rarity ranked as the most important aspects of ownership (43%), ahead of owning works respected by experts (23%) or owning something admired in collector circles (22%). Uniqueness mattered more to Gen Z collectors (48% versus 38% of Baby Boomers).
• Collectors have become strongly research-driven in their purchasing decisions: 72% of HNW collectors conducted moderate or significant independent research before purchasing art, up from 62% in 2025, and  rising to 80% among Gen Z collectors.
• Digital sources and AI-enabled research tools continue to gain ground: 58% of HNW collectors used online resources for advice and recommendations, while the use of apps and AI tools rose to 22%, up from 4% in 2024.
• Collectors continue to diversify their interests across art and collectibles: Fine art accounted for 33% of total spending across art and collectibles categories in 2026. Gen Z collectors were the highest spenders across virtually every category and, together with boomers, displayed the broadest collecting interests, with 42% of Gen Z collectors and 39% of Baby Boomers purchasing across at least two additional collecting categories outside of fine and decorative art in the last year.
• Philanthropy and legacy planning remain important priorities: The report found that 23% of HNW collectors said they planned to donate works to museums in the coming year, while many others said they intended to support artist prizes, residencies, foundations, or private museums. Family legacy continues to play a central role in both building and preserving collections, with many collectors focused on passing collections to future generations.

UBS AG

About UBS and contemporary art

Global Lead Partner of Art Basel, UBS has a long history of supporting contemporary art and artists. UBS seeks to advance the international conversation about the art market through its global lead partnership with Art Basel, and as co-publisher of the Art Basel and UBS Global Art Market Report and the Art Basel and UBS Survey of Global Collecting. UBS also supports some of the world’s most important arts institutions, events, and fairs. The firm also has one of the world’s most significant corporate collections of contemporary art. The UBS Art Advisory supports the firm’s UHNW and family offices clients with impartial advice across the lifecycle of collecting.

About UBS

UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. UBS manages 7.3 trillion dollars of invested assets as per the second quarter 2026. UBS helps clients achieve their financial goals through personalized advice, solutions and products. Headquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).