Where Are Young Art Collectors and Museum Donors?
nytimes.com
Saved by Philip Soriano
Where Are Young Art Collectors and Museum Donors?
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
Steven Sulley • How Millennials Are Challenging And Changing The Art Market
This new generation of collectors is also more likely to use online marketplaces as channels for discovery:
Art Collector Insights 2024
A NEW GENERATION OF ART BUYERS HAVE ONLY BOUGHT ART ONLINE Three-in-ten (31%) young collectors said they bought their first ever artwork online, up from 14% in 2020. Nearly half (47%) of new art buyers (who started buying art less than three years ago) also said they made their first art purchases online, compared to 30% in 2020. The online
... See moreA NEW GENERATION OF ART BUYERS HAVE ONLY BOUGHT ART ONLINE Three-in-ten (31%) young collectors said they bought their first ever artwork online, up from 14% in 2020. Nearly half (47%) of new art buyers (who started buying art less than three years ago) also said they made their first art purchases online, compared to 30% in 2020. The online
... See moreMillennials—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
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
Steven Sulley • How Millennials Are Challenging And Changing The Art Market
Most collectors, we found, think art collecting would be easier with more transparent artwork pricing and information; a lack of transparency is viewed as a primary barrier to buying art online. But this sentiment is only partially matched by the galleries we surveyed: While most acknowledge that their collectors care about transparency, a minority... See more