According to a study on high net worth (HNW) collectors worldwide, Gen Z collectors had the highest median expenditure on digital art in the first half of 2023. Overall, collectors from this generation reported median spending of roughly eight thousand U.S. dollars on digital art (either with or without an NFT). Meanwhile, Millennials recorded a median expenditure of around seven thousand U.S. dollars on digital art as of the same period.
Median expenditure of high net worth (HNW) collectors on digital art in 1st half 2023, by generation
(in 1,000 U.S. dollars)
Characteristic
Median expenditure in thousand U.S. dollars
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figures refer to digital art with or without an NFT
Method of interview
Panel survey
Supplementary notes
The survey was conducted between July and September 2023.
The source defined high net worth (HNW) collectors as individuals who have a current net worth, excluding real estate and private business assets, exceeding 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 art and antiques in 2021 and 2022, and a minimum of 5,000 U.S. dollars in the first half of 2023.
The source defined the generations in the following way:
Gen Z: under 26 years old.
Millennials: 26 to 42 years old.
Gen X: 43 to 58 years old.
Boomers: 59 to 76 years old.
Respondents were HNW individuals from the following markets: United States, United Kingdom, France, Germany, Italy, Singapore, Hong Kong SAR, China, Taiwan, Japan, and Brazil.
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Art Basel, & UBS. (November 2, 2023). Median expenditure of high net worth (HNW) collectors on digital art in 1st half 2023, by generation (in 1,000 U.S. dollars) [Graph]. In Statista. Retrieved September 17, 2024, from https://www.statista.com/statistics/1299913/median-nft-expenditure-high-net-worth-collectors-by-generation/
Art Basel, und UBS. "Median expenditure of high net worth (HNW) collectors on digital art in 1st half 2023, by generation (in 1,000 U.S. dollars)." Chart. November 2, 2023. Statista. Accessed September 17, 2024. https://www.statista.com/statistics/1299913/median-nft-expenditure-high-net-worth-collectors-by-generation/
Art Basel, UBS. (2023). Median expenditure of high net worth (HNW) collectors on digital art in 1st half 2023, by generation (in 1,000 U.S. dollars). Statista. Statista Inc.. Accessed: September 17, 2024. https://www.statista.com/statistics/1299913/median-nft-expenditure-high-net-worth-collectors-by-generation/
Art Basel, and UBS. "Median Expenditure of High Net worth (Hnw) Collectors on Digital Art in 1st Half 2023, by Generation (in 1,000 U.S. Dollars)." Statista, Statista Inc., 2 Nov 2023, https://www.statista.com/statistics/1299913/median-nft-expenditure-high-net-worth-collectors-by-generation/
Art Basel & UBS, Median expenditure of high net worth (HNW) collectors on digital art in 1st half 2023, by generation (in 1,000 U.S. dollars) Statista, https://www.statista.com/statistics/1299913/median-nft-expenditure-high-net-worth-collectors-by-generation/ (last visited September 17, 2024)
Median expenditure of high net worth (HNW) collectors on digital art in 1st half 2023, by generation (in 1,000 U.S. dollars) [Graph], Art Basel, & UBS, November 2, 2023. [Online]. Available: https://www.statista.com/statistics/1299913/median-nft-expenditure-high-net-worth-collectors-by-generation/
