Generations of collectors

What are generations of collectors?

Generations of collectors is simply a way of looking at how differently people buy according to their age, taste and experience. Each generation is looking for something slightly different on the art market. It is a way of understanding who buys art today and what leads them to it.

How does it work?

The differences are quite pronounced. Boomers tend to look for status and the security of proven names. Generation X has the highest spend today and a varied taste. Millennials drive contemporary art — living artists and new names. And Generation Z is open to NFTs, crypto and fractional ownership, that is, buying only a share in an expensive work.

Why does it matter to a collector or investor?

Because anyone who knows which generation likes a given kind of art can better judge where demand is heading. The interest of younger generations helps explain, for instance, why contemporary art and digital forms are growing. And for anyone thinking ahead, it is useful to know to whom they will be selling a work in a few years' time. Isn't it good to know who your future buyer will be?

What should you watch out for?

This division is a generalisation, not an exact pigeonhole. Not every boomer wants only security and not every member of Generation Z backs crypto; these are prevailing tendencies. Newer forms such as NFTs and fractional ownership also tend to be more volatile and less tested, so they call for more caution than established names.

— Anna Pulkertová, founder of Art Part Club