Gen Z overtakes older collectors as art market spending rebounds globally: report

Gen Z high-net-worth collectors have overtaken older generations as the art market’s biggest spenders, with average fine art expenditure more than twice that of older collectors, helping drive a global sales rebound to nearly US$60 billion, according to the latest Art Basel and UBS market insights.

The surge came as mainland China and Hong Kong continued to play pivotal roles in the global art market’s growth, according to the Art Basel and UBS Survey of Global Collecting 2026, released earlier...