The Rise of Young Collectors: How Gen Z and Millennials Are Changing the Art Market
Forget the old stereotype of an art collector as a suit-clad, gray-haired billionaire. The future of art collecting belongs to Gen Z and Millennials.
According to the 2024 Art Basel & UBS Art Market Report, younger collectors are becoming the fastest-growing segment in the art market. Not only are they buying more art, but they’re also changing how and where it’s sold—favoring online platforms, digital art, and brand collaborations over traditional gallery acquisitions.
This shift is redefining the industry, pushing galleries, auction houses, and artists to adapt or be left behind. Here’s how.
1. Digital First: The Art Market Goes Online
Millennials and Gen Z have grown up in a digital world, and their art buying reflects that.
Online art sales hit $11.8 billion in 2023, making up 18% of the market—a record high.
65% of collectors now buy art online without seeing it in person first.
Social media platforms like Instagram, TikTok, and even Discord are becoming key discovery tools.
For galleries and dealers, this means an online presence is no longer optional. The ability to sell directly via social media, online marketplaces, and artist websites is now a crucial part of success.
2. A Shift Toward New Mediums
While traditional paintings and sculptures still dominate, younger collectors are interested in:
Digital art & NFTs – Despite the NFT market correction, Gen Z remains engaged in digital collecting.
Street art and urban culture – Contemporary and post-graffiti movements attract younger buyers.
Limited-edition collaborations – Art-meets-fashion and art-meets-tech projects are booming.
3. Collecting for Identity, Not Just Investment
Unlike older generations, who often buy art as a long-term investment, younger collectors see art as an extension of their identity.
They support emerging artists, often discovering them through social media and artist-run platforms.
Personal connection matters—they’re more likely to buy from an artist they can engage with online.
They favor experience-driven art—installations, interactive works, and collectives over blue-chip names.
The art world is changing fast, and younger collectors are leading the charge. For galleries, dealers, and artists, embracing digital strategies, new mediums, and direct engagement with collectors will be key to staying relevant.