Younger collectors drive a transformation forcing wealth managers to adapt
There’s a turning point in the global art market, where money alone no longer defines value.
Deloitte’s newly-released 2025 Art & Finance Report reveals that as the number of ultra-high-net-worth individuals expands (from about 121,000 in 2024 to a projected 163,725 by 2030), collecting art is increasingly viewed not just as an asset class but as a vessel for identity, emotion, and social impact.
Despite growing wealth, the report finds that the global art market is stagnating as costs, exclusivity, and opacity erode confidence. Younger professionals and collectors are pressing for change, calling for “a more transparent, inclusive, cost-efficient and modern” system.
The report authors warn that without reform the market risks alienating the very demographic set to inherit and expand it.
Mid-market works (priced between US$50,000 and US$1 million) emerged as a rare bright spot, proving more resilient amid the broader slowdown. Valued at roughly $8 billion in 2024, this segment represents a largely untapped opportunity for new collectors and investors.
At the wealth management level, art remains a cornerstone of comprehensive advisory services and although fewer institutions now offer art-related support (down from 63% in 2023 to 51% in 2025), those that do are expanding their focus beyond investment.
Nearly nine out of ten wealth managers emphasized the need for “integrated advisory relationships,” connecting art with estate planning, philanthropy, and legacy creation. Clients now allocate about 10.4% of their total wealth to art and collectibles, a share largely consistent with recent years.
Among family offices, only 7% now prioritize art investment as a near-term focus, while 67% rank estate planning as their top concern. Art philanthropy has gained momentum, rising from 23% in 2023 to 51% in 2025, reflecting a deeper commitment to meaning-driven wealth.
For next-generation collectors, 72% say they value art for legacy and cultural impact over profit, while 84% emphasize education and 54% prioritize philanthropy. “Financial return is no longer the dominant driver,” the report notes, dropping from 83% in 2023 to just 52% in 2025.
Art-secured lending continues to grow, with the market projected to hit up to $50 billion by 2027. Many collectors now use art as collateral to finance other ventures or philanthropic efforts, underscoring art’s evolving role as both cultural and capital asset.
Technology, meanwhile, is reshaping how art is managed, verified, and valued. Tools like blockchain and AI are being adopted for provenance tracking, risk management, and collection organization. Yet the report also warns that frustration with slow regulatory reform could erode trust if the market fails to modernize.
As nearly $31 trillion in global wealth shifts to new hands over the next decade, the report highlights that the art world faces a defining choice to evolve with a generation that sees art as purpose as much as possession, or risk fading into irrelevance.
