Gen Z Outspends All Generations on Fine Art, UBS Survey Finds

Gen Z collectors spent an average of $347,460 on fine art over the past year — nearly three times the $124,265 average among UBS's wider high-net-worth clientele. That figure comes from a newly released UBS and Art Basel survey of high-net-worth collectors, and it marks a 19% jump for Gen Z in a single year.

The survey's central finding is generational. Gen Z, whose oldest members are just 29, outspent every other generation on fine art in 2025 and the first half of this year. The cohort spent more than twice as much on fine art as older generations, according to the report. Gen Z collectors also accounted for nearly half of all respondents who bought artwork priced above $1 million.

Their tastes ran the broadest of any generation, the survey found, spanning paintings, sculptures, digital art and luxury collectibles.

What Is Driving the Young Spending Spree?

Matthew Newton, executive director and head of Art Advisory Americas on UBS's Family Office Solutions team, ties the trend directly to the Great Wealth Transfer — the trillions of dollars older generations are preparing to pass to their heirs.

"You have this new generation of people. These are people in their 20s. This is very young in my mind for people who are active in the art market," Newton told Fortune. "There's probably a relationship to inheritance that's reflected in that."

The survey data backs that reading. While 28% of all respondents cited family as their primary route into collecting, that share rose to 40% among Gen Z. Nearly 90% of Gen Z collectors who inherited artworks kept them.

How Are Families Handling the Handover?

The art-related pieces of the Great Wealth Transfer are forcing inter-generational conversations about buying and collecting — and UBS says demand for guidance has grown enough to change how the bank operates.

"Increasingly when we're having a conversation with a first generation collector, in that same meeting, is their children who are gaining interest in this space and they want to become educated in this field," Newton said.

Roughly a year ago, UBS created a dedicated role in response: an Art Advisory Specialist on Newton's team, who helps families work out how to pass artwork from one generation to the next.

"And that can be selling strategies, gifting strategies, overlaid with tax considerations as it relates to that family," Newton added.

The stakes extend well beyond deciding which paintings or sculptures the children want to keep. Newton pointed to the balance-sheet weight some collections now carry.

"Frankly, in some cases, the size of the collection value can be a very significant percentage of the family's net worth," Newton said. "So, it's important to get these conversations right, not just from a passion side, but really for the overall financial health of the family."

For the art market, the message from the UBS and Art Basel data is that its biggest spenders are getting younger — and that inheritance, not just income, is now a decisive engine of demand. As trillions continue to move between generations, banks and advisors who can structure the transfer of collections stand to gain a growing share of that business.