Over Half Of Fine Art Collectors Have Purchased A Piece Online Sight Unseen, Reveals New Report By UBS Global Wealth
Management
New UBS Investor Watch Pulse Report, “Art in Motion,” reveals insights on the behaviors and buying trends of U.S.-based high
net worth collectors
Key Findings:
- 58% of fine art collectors have bought a piece of art without ever having seen it in person—a percentage that has more than
doubled from last year (26%)
- 84% of collectors are either always looking or opportunistically looking to add on to their collection with 58% planning to
add to their collection in 2019
- 57% see the artist’s gender as a determining factor when purchasing art, with 70% expecting to purchase works by women in the
next year
UBS Global Wealth Management released today a new report that unveils the majority of art collectors are going online and using
social platforms to stay at the forefront of the art market year round. Released during Art Basel in Miami Beach, this special
Investor Watch Pulse Report, titled “Art in Motion,” studies the attitudes and behaviors of fine art collectors in the U.S. with at
least $5m+ in investable assets.
Art collectors increasingly comfortable buying art online
The percentage of art collectors who have purchased art online before they’ve seen it in person has more than doubled in the
past year (26 percent in 2017 vs. 58 percent in 2018), while 63 percent of collectors polled have gone on the internet to
participate in an online auction.
What’s more, art collectors are beginning to feel the pull of social media, using it as a resource to help them follow the art
market closely. Among the collectors, 67 percent follow an artist on social media, while 65 percent have seriously considered
buying art after first seeing it through their social media platforms.
“The technological trends changing the economy are increasingly changing the art market," said Karl Ruppert, Market Head of
Florida Private Wealth Management at UBS Global Wealth Management. "There are potential opportunities presented through future
growth of the online art market to attract new buyers at different price levels, which is beneficial to the health of the overall
market. For gallerists, fairs, auction houses, artists and collectors, digital tools will be a key area of growth over the next
five years.”
Women artists on the rise, and so are the investments in them
Women artists are increasingly being recognized for their standout contributions along with breaking their sales records — which
hasn’t gone unnoticed among collectors. Almost three-in-five collectors see the artist’s gender as a determining factor when
purchasing a piece, and 70% plan on purchasing works by women in the next year.
“While male artists continue to lead overall sales within the market, we found clients are increasingly recognizing that women
artists are undervalued,” said Ruppert.
Collectors ready to buy, but cautious to sell
Collectors are eager to grow their art collection with half stating they’re always looking to add new pieces, and 34 percent are
opportunisitically searching. Moreover, 58 percent are ready to make an addition in the upcoming calendar year, while 64 percent of
fine art collectors are gearing up to spend more than $100k on their new additions in 2019.
More than half (58 percent) of these wealthy art enthusiasts view their collections as their most prized possessions. Not
surprisingly, collectors are only willing to sell up to a third of their collection.
Passing along the passion: Concerns for art inheritance
When it comes to passing along their passion pursuit to the next generation, 58 percent of art collectors are worried their
heirs won’t know how to care for the collection and 57 percent are concerned about taxes when passing on to the next
generation.
Notes to Editors
About UBS Investor Watch Pulse Report
The UBS Investor Watch Pulse Report is designed as a shorter, "rapid response" reaction to pressing issues of the day. For this
special edition 'Art in Motion', UBS surveyed 175 High Net Worth fine art collectors with at least $5M+ in investable assets from
November 14 - 26, 2018. The report offers insights on U.S.-based collectors’ behaviors and buying trends. UBS also published the
2017 UBS Investor Watch Pulse Report, 'For the love of art'.
About UBS
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private
clients in Switzerland. UBS' strategy is centered on our leading global wealth management business and our premier universal bank
in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive
position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability
outlook.
Headquartered in Zurich, Switzerland, UBS has offices in 52 countries, including all major financial centers, and employs
approximately 60,000 people. UBS Group AG is the holding company of the UBS Group. Under Swiss company law, UBS Group AG is
organized as an Aktiengesellschaft, a corporation that has issued shares of common stock to investors.
For more insights and to download the report, visit ubs.com/investorwatch.
© UBS 2018. The key symbol and UBS are among the registered and unregistered trademarks of UBS. All rights reserved.
UBS Group AG
Laura Hastings
+1 212 882 5705
Laura.hastings@ubs.com
Sutton PR
Grace Johnstone
+1 212 202 3402
grace.johnstone@suttonpr.com
Claire Owen
+44 (0) 20 7183 3577
claire@suttonpr.com
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