Key Takeaways
- Collector confidence is rising: 57 % expect growth in the next six months and 60 % anticipate expansion over the next decade.
- Gen Z collectors are the highest spenders across most categories, yet they tend to keep their collections private and use a broad range of luxury goods as collectibles.
- Galleries remain central: 87 % of respondents bought through a dealer, with galleries and art fairs together accounting for the largest share of expenditure.
- Artificial intelligence is being embraced for research, provenance checks and pricing, but collectors warn it can both broaden discovery and reinforce existing tastes.
- Wealth transfer will shape the market: over $83 trillion is expected to change hands in the next 20‑25 years, and inherited works already represent about 31 % of both the number and value of collectors’ holdings.
- Gender imbalances persist: male artists constitute 56 % of works in collections, while female artists account for only 8 % of auction‑sale value despite growing gallery representation.
Survey Methodology and Scope
The Art Basel and UBS Survey of Global Collecting 2026 was conducted by Arts Economics and Dr Clare McAndrew, questioning 3,100 high‑net‑worth individuals across ten major markets. As the report notes, this group “represents a key segment of the collecting public whose behaviour often signals broader market directions, especially since wealthy buyers account for a disproportionate share of spending at the upper end of the market.” The survey therefore captures the attitudes and actions of the collectors who drive the luxury segment of the art world.
A Measured Recovery in Market Confidence
After the pandemic‑era boom, collectors have become more selective, focusing on quality, rarity, and the artist’s reputation. The survey finds that “collectors are buying, but they are paying closer attention to quality, rarity, and the artist’s reputation. They are researching more carefully and using more sources of information before committing.” This cautious optimism is reflected in forward‑looking expectations: 57 % anticipate growth in the fine‑art market over the next six months, while only 13 % foresee a decline. Looking ahead twelve months, 58 % expect growth and 27 % stability, and over the next decade, 60 % believe the market will expand.
Gen Z: The New Power Spenders
Perhaps the most striking finding is the spending power of Generation Z. Gen Z collectors were the highest spenders across virtually every category surveyed, with around 5 % of Gen Z respondents having bought a work above $1 million in 2025 and the first half of 2026, compared with 1 % or less among older generations. Their collecting habits extend beyond traditional fine art to include jewellery, watches, fashion‑related collectables, and sneakers. Despite their digital nativity, Gen Z buyers are notably private: they were “more selective about who could see what they owned and what they were prepared to share online,” challenging the assumption that younger collectors automatically seek public display.
Technology and AI’s Growing Influence
Artificial intelligence is beginning to reshape how collectors discover and assess art. Sixty‑seven per cent of collectors surveyed thought AI could improve the visibility and discoverability of artists and artworks, while 66 % saw potential in personalised recommendations, 65 % in provenance and authenticity checks, and 64 % in pricing and valuation. Yet the report warns of a double‑edged sword: “An algorithm can widen the field of discovery, but it can also narrow it by repeatedly recommending the kind of work a collector already likes.” This tension means AI could either surface overlooked artists or reinforce existing tastes, concentrating the market around familiar names. Collectors remain wary of fraud, with 20 % concerned that AI could worsen forgery and manipulation, though nearly 60 % believe its overall effect will be positive.
The Enduring Centrality of Galleries
Despite talk of disintermediation, galleries and dealers retain a pivotal role. Eighty‑seven per cent of collectors bought from a dealer during the period covered by the survey, with galleries and art fairs together accounting for the largest share of expenditure. Direct sales through dealers represented 27 % of spending, rising to 42 % when purchases at art fairs are included. Artist‑direct channels are growing quickly—69 % of collectors bought directly from artists, up 6 % year‑on‑year—but auctions have lost ground, with only 10 % naming them as their preferred first choice, down for the third consecutive year. Collectors remain active participants, attending an average of 46 art events in 2025 and expecting 44 in 2026, well above the pre‑pandemic figure of 41.
Wealth, Inheritance and the Future Market
Global wealth rose by almost 11 % in 2025, though gains were uneven, widening the gap between the richest and the rest. For the surveyed collectors, the average allocation to art was 15 % of overall wealth, down from 24 % in 2022, yet the wealthiest remain heavily exposed: those with more than $50 million allocated an average of 23 % to art, versus 12 % for those with less than $5 million. The looming wealth transfer—over $83 trillion expected to change hands globally over the next 20‑25 years—means that inherited works will play an increasingly decisive role. Currently, inherited pieces represent about 31 % of both the number and value of collectors’ holdings, and the wealthiest heirs are more likely to retain inherited works, suggesting sales are often driven by financial pressure rather than lack of interest.
Gender Dynamics in Collecting
Gender imbalances persist both in the artworks collected and in the artists represented. Works by male artists made up 56 % of collections, compared with 44 % by women, an improvement from prior years but still a substantial gap. Women collectors tend to hold a slightly higher share of female artists (46 % vs. 43 % for men) and are more likely to own works by new and emerging artists. In the primary market, female artists represented by galleries reached 45 % in 2025, yet they accounted for only 11 % of artists among the top 200 across all fine‑art auction sectors, with their works comprising just 8 % of auction‑sale value. This discrepancy highlights a stubborn problem: while gallery representation is improving, auction markets lag behind in valuing female creators.
How Collectors Discover and Acquire Art
Family remains the most common gateway into collecting, cited by 28 % of respondents (close to 40 % among Gen Z). Cultural exposure follows at 22 %. Research habits blend traditional and digital sources: only 12 % relied entirely on digital information, while most combined online advice with input from dealers, advisers, and peers. Collectors are also buying across price points: 86 % purchased at least one work below $50,000 in 2025, and 85 % did so in the first half of 2026, while only 1 % crossed the $1 million threshold. This demonstrates a market that is broad at the base but still heavily concentrated at the top.
Outlook and Closing Thoughts
Overall, the survey paints a picture of a market that is more sophisticated, internationally connected, and technologically enabled, yet still anchored in the enduring relationship between collector and dealer. As the report concludes, “Collectors intend to keep buying… The desire itself remains remarkably simple.” The combination of cautious optimism, Gen Z’s emergent influence, AI’s disruptive potential, and the impending wealth transfer suggests that the art market will continue to evolve—balancing tradition with innovation, exclusivity with accessibility, and private passion with public impact.
Compiled from the Art Basel and UBS Survey of Global Collecting 2026, as reported by Arts Economics and Dr Clare McAndrew.
Art Basel UBS Survey 2026 Finds Collectors Embracing Artificial Intelligence