Millennials – List of Collectors

Published: 26th November 2018

No. Pages: 53

Report Type: List of collectors

Report content

HOW MILLENNIALS ARE CHANGING THE ART WORLD

WHO ARE TODAY’S YOUNG ART ENTHUSIASTS?

ART COLLECTING AS A FAMILY ENTERPRISE

WHY DO MILLENNIALS COLLECT ART?

  • Aesthetic appreciation
  • Passion, personal fulfillment, and self-expression
  • Family or cultural tradition
  • Desire to support artists and creatives
  • Resale potential (“art flipping”)
  • Investment value

 

WHERE DO MILLENNIALS PREFER TO VIEW AND ACQUIRE ART?

  • Online
  • Museums
  • Select list of museums with programs for young collectors
  • Studios
  • Art Fairs
  • Galleries
  • Auction houses

 

WHAT KIND OF ART DO MILLENNIALS COLLECT?

MAJOR YOUNG COLLECTORS

 

This report provides:

  • 53 pages of Comprehensive Insights
  •  100 Top Millennials Collectors (Names and short biographies)
  • An Overview of the Art Market
  • Key figures
  • Relevant links to institutions and associations
  • Links to Instagram accounts (when available)
  • Details of works and major purchases alongside artists represented in key collections

Description

This report will cover multiple facets of millennials’ involvement in the art world. It will discuss who these young collectors are, both in general terms and through individual profiles of several dozen prominent collectors. It will then explore millennials’ motivations for collecting art and their preferences for viewing, consuming, and purchasing art. Finally, it will consider which genres and artists have gained the most popularity among younger collectors with the intent to uncover any key trends.

 

KEY FINDINGS

  • Young art collectors comprise around a quarter of all collectors.
  • Young collectors remain primarily driven by personal enjoyment of art, an appreciation for aesthetics, and a desire for self-expression.
  • Millennials are, however, more likely than other generations to see art as a financial asset and as part of a comprehensive wealth-building strategy.
  • Many young collectors inherit a love of art from their families, and often expect to inherit art collections as well.
  • Millennials demonstrate a strong preference for contemporary art.
  • Overall, there has been significant growth in the online art market, largely driven by young people.
  • Millennials are more likely than other age groups to discover and purchase art online.

 

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