The art market is shifting, and Chinese collectors are leading the way. According to the UBS Art Basel Survey of Global Collecting 2024, high-net-worth individuals (HNWIs) from Mainland China are spending more on art than collectors in any other country. Their buying habits are unique, strategic, and worth watching.
Spending Big, Investing Smart
Chinese collectors had the highest median spending on art and antiques in 2023 and early 2024—more than twice as much as collectors from any other region. Even with concerns about China’s economy, these buyers continue to invest heavily in art. Instead of extravagant displays of wealth, they focus on discreet, valuable pieces that hold their worth over time.
🔗 Read the UBS Art Basel Report
Preference for Blue-Chip and Deceased Artists
While some collectors worldwide chase emerging artists, Chinese buyers prefer established names. About 41% of their total art spending goes toward blue-chip artists—those with a solid market history. They also invest heavily in deceased artists, showing a focus on historically significant works
Less Art Fairs, More Selective Choices
Chinese collectors attend fewer art fairs compared to their Western counterparts, averaging just two fairs per year—one local and one overseas. However, this trend may change, as 54% of respondents in the UBS Art Basel survey plan to attend more events in 2025. Their selective approach suggests they do extensive research before making a purchase.
A Strong Focus on Paintings and Works on Paper
When it comes to art mediums, paintings remain the top choice. About 74% of Chinese HNWIs planned to buy paintings in the next year, the highest percentage among major markets. Works on paper also gained popularity, with 47% of collectors interested in acquiring them.
A Market Still Growing
Despite global concerns, the Chinese art market continues to grow, driven by a deep appreciation for culture and history. Cities like Shenzhen are emerging as new cultural hubs, attracting collectors and artists alike. Shenzhen’s rise as a vibrant art center is fueled by its thriving tech industry, young creative community, and increasing number of art institutions. This expansion highlights the dynamic and forward-thinking nature of Chinese collectors, who are not only preserving heritage but also shaping the future of the art world.
🔗 Explore More Art Market Trends
China’s collectors are reshaping the art market with their calculated approach. They value investment potential, prioritize established artists, and remain selective in their acquisitions. As their influence grows, the global art market will need to adapt to their evolving preferences.
