According to a global survey conducted from 2020 to 2023, the passion for art was the most significant art buyers' motivation when purchasing art. In 2023, 94 percent of respondents indicated emotional benefits as a key purchase motivation. Meanwhile, 65 percent of the sample reported that social impact and patronage were important motivations when buying art.
Important motivations when purchasing art among art buyers worldwide from 2020 to 2023
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Hiscox. (April 25, 2023). Important motivations when purchasing art among art buyers worldwide from 2020 to 2023 [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/887848/top-motivations-for-art-buyers-when-buying-art/
Hiscox. "Important motivations when purchasing art among art buyers worldwide from 2020 to 2023." Chart. April 25, 2023. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/887848/top-motivations-for-art-buyers-when-buying-art/
Hiscox. (2023). Important motivations when purchasing art among art buyers worldwide from 2020 to 2023. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/887848/top-motivations-for-art-buyers-when-buying-art/
Hiscox. "Important Motivations When Purchasing Art among Art Buyers Worldwide from 2020 to 2023." Statista, Statista Inc., 25 Apr 2023, https://www.statista.com/statistics/887848/top-motivations-for-art-buyers-when-buying-art/
Hiscox, Important motivations when purchasing art among art buyers worldwide from 2020 to 2023 Statista, https://www.statista.com/statistics/887848/top-motivations-for-art-buyers-when-buying-art/ (last visited July 22, 2024)
Important motivations when purchasing art among art buyers worldwide from 2020 to 2023 [Graph], Hiscox, April 25, 2023. [Online]. Available: https://www.statista.com/statistics/887848/top-motivations-for-art-buyers-when-buying-art/