Source: The Art Newspaper - International art news and events
Gen Z collectors with significant wealth are spending more than older generations while increasingly buying directly from artists, galleries, and online platforms rather than through established dealers and auction houses—a structural shift that threatens the 15-20% commissions those intermediaries have long relied on. Gen Z grew up shopping peer-to-peer and expects transparency in pricing and provenance, forcing legacy auction houses like Christie's and Sotheby's to compete on convenience rather than exclusivity.