由《藝術經濟》（Arts Economics）的Clare McAndrew博士撰寫的2025年《巴塞爾藝術展與瑞銀集團環球藝術收藏調查報告》（Art Basel and UBS Survey of Global Collecting 2025），生動描繪了正處於轉型中的藝術市場圖景，揭示了在這個數碼化接觸和社會意識塑造品味與價值的時代，千禧一代和Z世代藏家，以及日益增多的女性藏家群體，是如何重新定義藝術收藏的內涵。

以下是報告中值得關注的八項關鍵發現。

藝術品投資依然是首選

儘管全球局勢充滿不確定性，高凈值藏家依然在藝術品領域進行著大力投資。2025年，他們平均將20%的財富配置於藝術收藏，相較於去年的15%有所提升。在Z世代藏家中，這一比例更是攀升至26%。

女性藏家正在拓展領域

女性藏家正從收藏的規模和廣度上重塑全球藝術品市場。2024年，所有地區的高凈值女性在藝術品和古董上的支出比男性高出46%，其中千禧一代和Z世代女性是這一趨勢的主要驅動力。她們的選擇也更具冒險精神：超過半數的受訪女性表示曾購入不知名藝術家的作品，並且女性藏家收藏中近半數作品出自女性藝術家之手。在美國和日本，這一比例更是超過了50%。

Clare McAndrew博士指出，女性「同樣意識到風險，但在實踐中更願意承擔風險」，她們常常探索新媒體並支持新興藝術家。她們的影響力促進了收藏格局的平衡性和多樣性。

收藏關乎身份與文化

儘管嬰兒潮一代純藝術支出上仍居領先，但年輕一代藏家正以其獨特的視角和偏好，重塑著收藏的版圖。千禧一代對設計、裝飾藝術及珠寶表現出濃厚興趣，而Z世代藏家則將目光聚焦於運動鞋、奢侈手袋以及具有收藏價值的運動裝備。無論是藝術品還是收藏品，收藏已然演變為彰顯個人身份與文化認同的象徵。

數碼藝術已成為主流

數碼藝術不再僅僅是小眾興趣。今年，超過半數的受訪者表示曾購入數碼藝術品，這使得數碼藝術在純藝術品類中，僅次於繪畫和雕塑，位列第三大支出類別。其中，法國和日本的藏家表現尤為活躍。對於Z世代的藏家而言，數碼藝術更是他們日常生活方式的自然延伸，藝術、科技與社群在螢幕上的融合，如同在藝廊中一般自然。

新一代藏家將收藏與價值理念相結合

隨著財富的代際轉移，價值觀也在悄然改變。年輕藏家不僅受到市場價值的影響，同樣也受到精神價值的驅動。他們被那些能夠體現身份認同、社群歸屬感和人生意義的藝術品所吸引。對許多人來說，收藏已成為一種表達自我和信念的途徑，而不僅僅是衡量財富的尺規。

不斷動態變化的藝術市場

2025年《巴塞爾藝術展與瑞銀集團環球藝術收藏調查報告》揭示，當前藝術市場正呈現出前所未有的多元化、互聯互通以及探索精神。女性藏家正引領消費新趨勢，年輕一代藏家在重塑審美偏好，而數碼技術則為藝術收藏開闢了全新的可能性。在好奇心、創造力以及與時代藝術及其創作者直接對話的驅動下，藝術收藏正朝著更為個人化和全球化的方向發展。

As women and younger generations command more capital, their choices are set to reshape the art market. And with these cohorts branching out and taking greater risks, capital is expected to follow them into new categories and channels.

However, even as these collectors became more open to discovering new artists, the value of spending shifted toward the established. McAndrew suggests this may be a sign of collectors becoming a little more risk-averse in 2025 as a response to the prevailing uncertainty in global markets.

This increasing breadth of collecting is most visible in Gen Z. They are omnivore collectors – among the most active buyers in both the fine art segment and collectibles and luxury goods. However, far from abandoning traditional mediums, Gen Z were ahead of millennials and Gen X in purchases of paintings by a notable margin.

Paintings remained the largest segment by value, accounting for 27% of total fine art spending in 2024, even as their share slipped. Digital art saw a big uplift, with just over half (51%) of the HNWIs surveyed buying a digital artwork in 2024/2025. Gen Z collectors were the catalyst for growth in collectibles, which accounted for 56% of their aggregated spending in 2025. They spent more than any other age segment on items such as luxury handbags and collectible sneakers (almost five times the level of any other generational group).

‘The youngest collectors are still buying fine art, and that’s where a good share of the value of the spending sits,’ McAndrew says. ‘But they’re transacting really quite frequently across a range of collectibles and reaching the market in new ways.’

Galleries and fairs remain the backbone when it comes to how HNWIs are buying art: 83% of respondents had bought through a dealer and the share of collectors purchasing at art fairs increased to 58% from 39% in 2023. Yet it is notable just how quickly the marketplace for finding and buying art is changing. ‘Disintermediation of the market is something we’ve been talking about on panels for years. Now there is more evidence of it actually happening,’ McAndrew says.

Among those who had purchased from a gallery in 2024/2025, 51% had bought at least one work via Instagram without viewing it in person first (up from 41% in 2023). More pronounced still was the rise in the share of HNWIs buying directly from artists. A total of 63% of those surveyed had purchased at least one work from an artist, up from 27% in 2023 and 43% in 2022. In terms of total spend, buying direct from artists was the second-largest channel by value (accounting for 20%) – more than double the share reported for 2023.

So the survey portrays a market in transition. In 2025, there are more routes than ever from studio to wall, as traditional players adapt to a new generation of collectors and artists who want to do things differently.