HNW art collectors: global spending by market 2023

A 2023 study compared the median expenditure of high net worth (HNW) collectors on art and antiques, focusing on a series of global art markets. Overall, HNW art collectors from Mainland China recorded the highest figure in the first half of 2023, with median spending of 241 thousand U.S. dollars. HNW collectors from Italy followed behind, with median expenditures in the art market of 63 thousand U.S. dollars in the first six months of 2023.

Median expenditure of high net worth (HNW) collectors on art and antiques in selected art markets worldwide from 2021 to 1st half 2023 (in 1,000 U.S. dollars)

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Release date

November 2023

More information

Region

Worldwide

Survey time period

2021 to H1 2023

Number of respondents

2,828 respondents

Age group

20 years and older

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.

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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