Art Collector Insights 2024

However, a notable disconnect emerged around educating collectors. Some 46% of collectors said they value educational content about art history or techniques from galleries. Yet, only 15% of galleries identified educational content as something collectors respond to positively.

The role of identity can also a huge motivating factor for these younger collectors, and they may opt for art that exemplifies their own political and ethical values. The identity of the artist is often important to millennial collectors, too, and their inclination toward online spaces means they are able to seek out specific kinds of art and types... See more

Millennials—those born between 1981 and 1996—form the largest consumer demographic today, and they have already begun to have a marked impact on the art landscape, challenging the way art is traditionally consumed and collected.

A 2021 report from Art Basel and UBS found that millennial collectors were in fact the highest spenders on fine art in 202... See more

Motivation

Two-thirds of collectors said they were driven by a desire to build a collection (67%). Decorating their spaces (58%), supporting artists (47%), and inspiration (46%) were also leading motivators. A smaller share (42%) expressed a desire to make sound investments with their acquisitions. Investment was a much more important driver among ... See more