"Georgina Adam's latest book, NextGen Collectors and the Art Market, emphasizes the art trade's urgent need to attract younger buyers, particularly millennials and Gen Z, to avoid an existential crisis."
"Christie's reported that a third of its buyers in the first half of 2025 were under 45, but these younger collectors are described as more volatile and less predictable, complicating their engagement."
"The term 'next gen' lacks clarity within the art trade, with varying definitions that include buyers under 35, 40, or even 50, reflecting the average age of existing collectors around 65."
"Adam highlights the importance of non-Western markets, particularly in Asia, where younger populations are driving trends, as evidenced by the spike in ultra-contemporary art prices between 2019 and 2022."
The art trade faces a critical challenge in engaging younger buyers, particularly millennials and Gen Z. Georgina Adam's book, NextGen Collectors and the Art Market, emphasizes the urgency of this issue as tastes and technologies evolve rapidly. While some progress is noted, with a third of Christie's buyers under 45, these younger collectors are unpredictable and less loyal. The definition of 'next gen' varies, and the significance of non-Western markets, especially in Asia, is highlighted as crucial for understanding this demographic shift.
Read at Artnet News
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