What's Happening?
Auction houses are witnessing a significant increase in young bidders, with millennials and Gen Zs showing heightened interest in luxury items. Sotheby's reports that a third of its clients purchasing
watches, handbags, and spirits are under 40, while Phillips has seen a 56% growth in Gen Z and millennial clients over the past five years. Christie's data reveals that 39% of female bidders and buyers in 2025 are millennials or Gen Zs, up from 32% in 2024. This trend is driven by expanded merchandise categories, including sneakers, sports collectibles, wines, spirits, cars, couture pieces, and fashion accessories. Auction houses are making efforts to attract younger audiences by broadening their physical and digital reach and investing in educational content and collector communities.
Why It's Important?
The surge in young bidders at auction houses signifies a shift in the luxury market, with younger generations increasingly participating in high-value transactions. This trend reflects changing consumer preferences, as millennials and Gen Zs seek unique and valuable items that signal taste and status. The expansion of merchandise categories to include items like sneakers and sports collectibles caters to the interests of younger buyers, making auctions more accessible and appealing. For auction houses, attracting younger clients is crucial for sustaining growth and ensuring the longevity of the luxury market. This demographic shift may also influence the types of items offered at auctions, with a focus on contemporary and culturally relevant products.
What's Next?
Auction houses are likely to continue expanding their merchandise categories and enhancing their digital presence to attract more young bidders. This may involve collaborations with popular brands and influencers to increase visibility and appeal. As younger generations become more involved in auctions, there may be a shift towards more experiential and interactive bidding processes. Auction houses may also focus on building strong collector communities and offering educational resources to engage and retain young clients. The success of these strategies could lead to increased competition among auction houses, driving innovation and growth in the luxury market.
