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 this week.
Global art sales returned to growth in 2025, rising 4 per cent year on year to an estimated US$59.6 billion and ending two consecutive years of decline.