3. Gen Z Spending

Gen Z collectors reported by far the highest average expenditure on fine art in 2025 and the first half of 2026 – more than twice that of any older generation surveyed. Average fine art expenditure across this HNWI sample rose to $124,265 in 2025 (up 13% on 2024), with Gen Z averaging $347,460 (up 19%). Average expenditure in the first half of 2026 alone exceeded the full-year 2025 figure, with Gen Z spending remaining more than double that of their older peers.

Only 1% of collectors bought a work priced over $1 million in 2025 and the first half of 2026, with Gen Z accounting for nearly half of those buyers. Gen Z also had by far the largest share of collectors spending over $1 million in total on fine art in the first half of 2026 (13%, versus 3% of collectors overall). Most activity at all ages was concentrated at lower levels: 77% of HNWIs spent under $50,000 in total on fine art and 84% under $100,000 in the first half of 2026.

Gen Z were the highest spenders in virtually every segment – spending more than twice as much as their peers on both fine art and most collectibles. On jewelry and gems, they spent an average of $151,310, more than five times the next-highest generation (Gen X, $29,500).