How Millennials Are Challenging And Changing The Art Market

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

Many have shown a preference for increased accessibility into art spheres and a less elitist approach to viewing and buying art.

92% of art buyers under the age of 35 regularly use Instagram for art related purposes, and 35% of millennial art buyers had bought art on Instagram

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