{
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high net worth individuals sustain art spending amid market challenges

The Art Basel and UBS Survey of Global Collecting 2024 reveals that high-net-worth individuals (HNWIs) are continuing to invest in art despite market challenges. While average spending dropped by 32% in 2023, median spending remained stable at $50,000, with optimism about the market's future rising to 91%. Notably, the share of works by women artists in collections reached 44%, and HNWIs allocated 52% of their spending to new and emerging artists, reflecting a strong support for living talent and new galleries.
ArtsLife
United States Dollar UBS AG Arts Economics TWN FRA DEU IDN GBR SGP HKG BRA CHN USA MEX JPN ITA CHE Clare McAndrew Show more
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01:39 25.10.2024
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