Art Among the Generations

I authored a little book prior to the Pandemic titled No Thanks Mom: The Top Ten Objects Your Kids Do Not Want – to my surprise it went viral. The heart of the book is my generational differences chart (I cover amusing and accurate differences in homeownership, design trends, and acquisition styles between the generations). It lists 40 bullet points on what “home” means to each generation – and what home contains.

Facts: (a) the Traditionalists (1928-45), are still proud of their Persian rugs and Spode Porcelain dinnerware, (b) Baby Boomers (1946-64), desperately want to declutter but get sentimental and choked up when they think about it, (c) the Gen X’ers (1965-80), want objects that connect them to their early 20s when they were cool and good looking, and (d) the Millennials (1981-97) don’t want anything. I am working on adding (e) Gen Z’ers (1997-2012), who want digital over physical possessions – and Smart everything, and (f) Generation Alphas (2013-25), who may one day own a subscription to a modular homebase instead of homeownership. In research derived from my clients’ environments and personal interviews, I learned much about what 40-somethings to mid-20-year-olds are collecting in 2025; not just fine artwork, but experiences, technology, sneakers, and conceptual bananas – yes! you read that right!

The newer generations (late year Millennials, Gen Z’ers and – soon – Gen Alphas) are poised to reshape what collectors and sellers (such as auction houses and online auctions) consider valuable. Here’s proof: in 2024, Millennials and Gen Z’ers accounted for a quarter to a third of bidders and buyers at Christie’s & Sotheby’s. The new buyers do not necessarily buy historical, period artwork, but are focused on the material culture of the present. Formerly underrepresented ANYTHING is being represented now. You will be surprised at the objects purchased in 2024 by the Millennials and Gen X’ers – nontraditional collectibles that you and I would never have imagined fetching millions of dollars: sneakers, comic books, and Hermès bags. A certificate of authenticity for Maurizio Cattelan’s Comedian – a work of art comprised of a banana duct-taped to a wall – sold for $6.2 million at Sotheby’s November 2024 auction. The buyer? A certain 34 year-old named Justin Sun. The gentleman is founder of the Peiwo APP (2017) and Tron Blockchain, and is worth $8.5B.  New money, new taste!

What are the defining characteristics of a Gen Z household? The Gen Z’ers prefer experiences over material objects; however, objects in the home are minimalist, digital, smart, and ethically sourced. You’ll find young Z couples at our thrift stores in Santa Barbara, following DIY trends. The Gen Z’ers, along with late-year Millennials (those in their mid-30s) are the “buying public” for art and home décor. Gen Z’ers want flexibility, affordability, and sustainability with high-tech integration. Many of my Gen Z clients here in Santa Barbara are downsizing their parents’ and grandparents’ household collections. Unlike the Millennial, the Gen Z’er is not turning away from a fine porcelain dinner service and a good set of sterling flatware.

And the newer generations have money. According to Artnet, Gen X’ers will inherit $30 trillion, millennials $27 trillion, and Gen Z’ers $11 trillion (information sourced from Bank of America Report 2024). All auction houses are paying attention to what 25- to 40-year-olds are buying, noting that in a young couple’s first foray into buying at auction, they likely will spend $500-700 – creating markets in fine art prints and sports/celebrity-owned objects, as well as comic books and “old” technology in that value range.

Luxury sales at Sotheby’s included Muhammad Ali’s shorts and Kobe Bryant’s sneakers. The same auction sale (not often paired together) included vintage African masks, modern female digital artists, and rare Louis XV furniture. Christie’s “Gen One” auction in September of 2024 sold Paul Allen’s vintage computers ($16 million). Heritage Auctions sold a $32.5 million pair of Dorothy’s cinematic ruby slippers (1939, Wizard of Oz), a $24 million Babe Ruth jersey, and a $6 million Superman comic book. This is the new nostalgia. 

Speaking of new avenues in collecting; two-day online sales at auctions across the country paired nostalgia with art, watches, jewelry, and handbags! It’s a new world. Cross category sales are offered as ‘pop up’ auctions by Sotheby’s. For example, MGM’s collection of Picassos was sold this past year in Las Vegas, grossing $10M. In Saudi Arabia, a pop-up auction this February offered Warhol, NBA Jerseys, Patek Philippe watches, and Hermés Birkin bags. The buyers? “Digital Natives under 40,” reports Artnet News.