A July 2021 report examined the amount of money spent by high net worth (HNW) art collectors on art and antiques worldwide between 2019 and the first half of 2021. The results of the study, which identified collectors' median expenditure according to the generation they were born in, showed an increase in spending by 207 thousand U.S. dollars and 62 thousand U.S. dollars among Millennials and Boomers, respectively. While the median expenditure of art collectors from both of these generations more than doubled in the first half of 2021 compared to 2019, the median spending of Gen X art collectors dropped by 10 thousand U.S. dollars during the same timeframe.
Median expenditure of high net worth (HNW) art collectors on art and antiques worldwide from 2019 to 1st half 2021, by generation
(in 1,000 U.S. dollars)
The survey collected responses from high net worth (HNW) art collectors in the following five major art markets: the United States, the United Kingdom, Hong Kong SAR, Germany, and Switzerland.
The source specified that the inclusion criteria for the survey was based on the respondents' wealth level and activity in the art market between 2019 and June 2021.
Respondents were categorized as HNW individuals if they had a current net worth in excess of one million U.S. dollars, excluding real estate and private business assets.
Survey participants were screened so as to only include HNW individuals who had spent at least 10,000 U.S. dollars on art and collectibles in 2019 and 2020, and had also purchased art worth at least 5,000 U.S. dollars in the first six months of 2021.
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Art Basel, & UBS. (September 8, 2021). Median expenditure of high net worth (HNW) art collectors on art and antiques worldwide from 2019 to 1st half 2021, by generation (in 1,000 U.S. dollars) [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1268548/expenditure-of-high-net-worth-collectors-on-art-worldwide/
Art Basel, und UBS. "Median expenditure of high net worth (HNW) art collectors on art and antiques worldwide from 2019 to 1st half 2021, by generation (in 1,000 U.S. dollars)." Chart. September 8, 2021. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1268548/expenditure-of-high-net-worth-collectors-on-art-worldwide/
Art Basel, UBS. (2021). Median expenditure of high net worth (HNW) art collectors on art and antiques worldwide from 2019 to 1st half 2021, by generation (in 1,000 U.S. dollars). Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1268548/expenditure-of-high-net-worth-collectors-on-art-worldwide/
Art Basel, and UBS. "Median Expenditure of High Net worth (Hnw) Art Collectors on Art and Antiques Worldwide from 2019 to 1st Half 2021, by Generation (in 1,000 U.S. Dollars)." Statista, Statista Inc., 8 Sep 2021, https://www.statista.com/statistics/1268548/expenditure-of-high-net-worth-collectors-on-art-worldwide/
Art Basel & UBS, Median expenditure of high net worth (HNW) art collectors on art and antiques worldwide from 2019 to 1st half 2021, by generation (in 1,000 U.S. dollars) Statista, https://www.statista.com/statistics/1268548/expenditure-of-high-net-worth-collectors-on-art-worldwide/ (last visited November 21, 2024)
Median expenditure of high net worth (HNW) art collectors on art and antiques worldwide from 2019 to 1st half 2021, by generation (in 1,000 U.S. dollars) [Graph], Art Basel, & UBS, September 8, 2021. [Online]. Available: https://www.statista.com/statistics/1268548/expenditure-of-high-net-worth-collectors-on-art-worldwide/
