High-net-worth collectors - statistics & facts
What do a Ferrari Testarossa, a bottle of Cabernet Sauvignon, and Banksy’s “Girl with Balloon” have in common? Some may say the color red, however, they also all spark the interest of wealthy collectors, typically categorized as high-net-worth individuals (HNWIs) and ultra-high-net-worth individuals (UHNWIs). These terms are used in the financial industry to define people with liquid assets above one million and 30 million U.S. dollars, respectively. Although collector’s items like fine art or classic cars are excluded from the calculation of net worth, they represent some of the biggest investments of high-net-worth individuals.
A reflection of the goods they are buying, collectors prefer a more traditional sales approach. When looking at the leading channels used by HNW collectors to purchase art and antiques in 2024, art dealers, auctions, and art fairs ranked highest, while only a quarter of surveyed collectors used NFT platforms.
While many of these investments will benefit the buyers financially, a 2023 survey on the main reasons for buying art stated that emotional value was by far the main motivation. This shows that while growth of wealth may be a significant factor to collecting, it is also the joy of ownership and appreciation of the craft that unites collectors of all kinds.
What do high-net-worth individuals like to collect?
While the interest in collectible assets can vary significantly across different regions, fine art remains one of the most common investments. In a 2024 study of UHNWIs, art was the investment of passion with the highest increase in popularity in Europe, ahead of watches, classic cars, and wine. Art also topped the ranking of leading investments of passion in Australasia.Which kind of art is the most popular among wealthy collectors?
Fine art is broadly defined, ranging from epic installations to intimate photographs and films. That said, traditional media (paintings, works on paper, and sculptures) are still the most popular among wealthy collectors, accounting for roughly 60 percent of the works held by HNW art collectors worldwide in 2024. Comparatively, digital art represented less than five percent of artworks collected that year, with spending on this medium highest among Millennial collectors.A reflection of the goods they are buying, collectors prefer a more traditional sales approach. When looking at the leading channels used by HNW collectors to purchase art and antiques in 2024, art dealers, auctions, and art fairs ranked highest, while only a quarter of surveyed collectors used NFT platforms.
Which collector’s item has seen the highest price increase?
Between 2022 and 2024, one investment of passion that saw its price rise globally was the yellow fancy color diamond, with a growth of 0.7 percent. In contrast, the price of historic cars worldwide saw declines across the board, with the rare Ferrari market declining by as much as 13 percent in 2024. Meanwhile, the Knight Frank Luxury Investment Index noted that rare whisky bottles reported the highest 10-year price change among investments of passions worldwide in 2023.While many of these investments will benefit the buyers financially, a 2023 survey on the main reasons for buying art stated that emotional value was by far the main motivation. This shows that while growth of wealth may be a significant factor to collecting, it is also the joy of ownership and appreciation of the craft that unites collectors of all kinds.
