"Gen Z Is No Joke": Spent '5 Times' More Than Their Moms' Generation, Splurging an Average 200 Million Won on Jewelry Alone.

Gen Z High-Net-Worth Collectors Spend More Than Twice as Much on Art as Other Generations
Nearly Half of Buyers of Artworks Worth Over 1.4 Billion Won Are Gen Z

Outspend Other Generations on Collectibles Such as Wine and Sneakers
Average Jewe

High-net-worth Gen Z collectors have emerged as the new big spenders in the global art market. From last year through the first half of this year, they spent more on art purchases than Baby Boomers, Generation X, and Millennials.

For jewelry, Gen Z spent an average of $151,310 (about 202 million won) this year, more than five times the $29,500 (about 39 million won) spent by Generation X, the second-highest-spending generation.

According to a report by CNBC on the 8th (local time), citing the "Global Collecting Survey" by Art Basel, a leading international art fair, and Swiss global financial services firm UBS, high-net-worth Gen Z collectors (born between 1997 and 2011) spent more on art than any other generation in 2025 and the first half of 2026.

Average spending of 490 million won...more than twice that of other generations

The survey was conducted among 3,100 high-net-worth individuals with assets of at least $1 million (about 1.34 billion won) who actively participate in 10 major art markets, including those in the United States, the United Kingdom, China, and Japan. Gen Z collectors who took part in the survey spent an average of $347,460 (about 463 million won) on art purchases last year.

A Gen Z visitor looking at artwork in a gallery. UBS

That was about 2.8 times the average spending of all high-net-worth art collectors in 2025, which was $124,265 (about 165 million won). Gen Z collectors also spent more than twice as much as other age groups, including Baby Boomers, Generation X, and Millennials. Gen Z accounted for nearly half of the collectors who bought artwork worth more than $1 million last year and in the first half of this year. Matthew Newton, head of art advisory for the Americas at UBS, said, "Gen Z is already very active in the art market."

Family influence and the digital environment have helped bring Gen Z into the art market so quickly. In the survey, 40% of Gen Z collectors said they began collecting art after being influenced by their family's collection or encouragement. They were also more likely to hold on to artworks inherited from family members. About 90% of Gen Z collectors who had inherited art continued to own those works, compared with 64% of Generation X collectors.

People looking to buy artwork are viewing the pieces. Art Market Experts

Gen Z collectors were also more likely to see art not just as an investment but as a way to express their tastes and identity. They placed particular importance on the rarity and originality of artworks, and many used social media and AI to seek out artists and artworks themselves. Eighty percent of Gen Z collectors said they conducted extensive research on their own before purchasing a work.

From jewelry to wine...growing influence on consumer spending

Gen Z's spending power was not limited to art. Their average spending also surpassed that of other generations in markets for other collectibles, including sports memorabilia, wine, whiskey and spirits, and high-end collectible sneakers. For jewelry, Gen Z spent an average of $151,310 (about 202 million won) this year, more than five times the $29,500 (about 39 million won) spent by Generation X, the second-highest-spending generation.

A male and female Gen Z visitor tasting wine. News.com.au

Noah Horowitz, CEO of Art Basel, said, "Since the COVID-19 pandemic, the number of new VIP visitors to luxury markets, including art fairs, has grown significantly." He added, "They tend to be younger, more likely to be women, and more often self-made than in the past."

The influx of young collectors is also helping the global art market recover from its downturn. Global art market sales totaled $59.6 billion (about 79.864 trillion won) last year, up 4% from the previous year. Claire McAndrew, founder of Arts Economics, said, "Market sentiment about the outlook is quite positive," adding that "more than half of survey respondents expect the art market to grow over every timeframe, including six months, one year, five years, and 10 years."

This content was produced with the assistance of AI translation services.