According to a 2022 global survey of high net worth (HNW) collectors, nearly all respondents were willing to pay up to five percent more for sustainable options when purchasing art. Meanwhile, 86 percent of the sample reported being prone to spend up to 10 percent more when buying art in 2022, denoting an increase of 18 percentage points compared to 2019.
Share of high net worth (HNW) collectors willing to pay a premium for sustainable options when purchasing art worldwide in 2019 and 2022
¹ Number of respondents in 2022. The survey was conducted in August 2022.
The source defined high net worth (HNW) collectors as individuals who have a current net worth, excluding real estate and private business assets, in excess of one million U.S. dollars. Additionally, to be included in the survey, collectors were required to have spent at least 10,000 U.S. dollars on fine or decorative art in 2020 and 2021, and a minimum of 5,000 U.S. dollars in 2022.
Respondents were HNW individuals from the following markets: United States, United Kingdom, France, Germany, Italy, Singapore, Hong Kong, China, Taiwan, Japan, Brazil.
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Art Basel, & UBS. (November 3, 2022). Share of high net worth (HNW) collectors willing to pay a premium for sustainable options when purchasing art worldwide in 2019 and 2022 [Graph]. In Statista. Retrieved November 21, 2024, from https://www.statista.com/statistics/1350013/hnw-collectors-willing-pay-extra-sustainable-options-worldwide/
Art Basel, und UBS. "Share of high net worth (HNW) collectors willing to pay a premium for sustainable options when purchasing art worldwide in 2019 and 2022." Chart. November 3, 2022. Statista. Accessed November 21, 2024. https://www.statista.com/statistics/1350013/hnw-collectors-willing-pay-extra-sustainable-options-worldwide/
Art Basel, UBS. (2022). Share of high net worth (HNW) collectors willing to pay a premium for sustainable options when purchasing art worldwide in 2019 and 2022. Statista. Statista Inc.. Accessed: November 21, 2024. https://www.statista.com/statistics/1350013/hnw-collectors-willing-pay-extra-sustainable-options-worldwide/
Art Basel, and UBS. "Share of High Net worth (Hnw) Collectors Willing to Pay a Premium for Sustainable Options When Purchasing Art Worldwide in 2019 and 2022." Statista, Statista Inc., 3 Nov 2022, https://www.statista.com/statistics/1350013/hnw-collectors-willing-pay-extra-sustainable-options-worldwide/
Art Basel & UBS, Share of high net worth (HNW) collectors willing to pay a premium for sustainable options when purchasing art worldwide in 2019 and 2022 Statista, https://www.statista.com/statistics/1350013/hnw-collectors-willing-pay-extra-sustainable-options-worldwide/ (last visited November 21, 2024)
Share of high net worth (HNW) collectors willing to pay a premium for sustainable options when purchasing art worldwide in 2019 and 2022 [Graph], Art Basel, & UBS, November 3, 2022. [Online]. Available: https://www.statista.com/statistics/1350013/hnw-collectors-willing-pay-extra-sustainable-options-worldwide/
