Art Collector Insights 2024

Why do collectors attend art fairs? For the majority of respondents (71%), it’s to discover new artists. The next most popular motivation was gaining access to artworks (51%), followed by meeting new galleries (25%), connecting with galleries they already have relationships with (21%), and traveling to an interesting destination (6%).

When asked to select the greatest hindrances to purchasing art online, most respondents (56%) selected a lack of visible price, followed by a tie between shipping logistics (46%) and “insufficient information about the work (excluding price)” (46%). (Respondents were able to select up to nine options.)

95% of collectors say price transparency on artworks is important

This new generation of collectors is also more likely to use online marketplaces as channels for discovery:

82% of young collectors have purchased art online