HNW collectors: median spending on digital art 2023

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 U.S. dollars
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Release date

November 2023

More information

Region

Worldwide

Survey time period

H1 2023

Number of respondents

2,828 respondents

Age group

20 years and older

Special properties

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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