More than two-fifths (44%) of people consider themselves collectors, with Gen Z adults particularly likely to have a collection on the go, a survey suggests. Men are more likely to collect than women, at 55% compared with 33%, according to NFU Mutual.
Popular collectibles and generational trends
Books, jewellery, watches and vinyl records are among the items people said they collect, with some also collecting cryptocurrency, the research found. Seven in 10 (71%) Gen Z adults (born after 1996) and more than half (51%) of Millennials (born 1981-1996) said they collected items, compared with 35% of Gen X (born 1965-1980) and 29% of Baby Boomers (born 1946-1964).
Collecting as investment
Some people buy items hoping they will pay off long-term. Nearly one in 10 (9%) said they had bought jewellery in the past year primarily as an investment, and 5% had bought art for that reason. Furniture, books, vinyl records, precious metals, fine wines, musical instruments, and memorabilia were also bought as investments. The value of collections can go down as well as up.
Passing down and inheriting collections
More than a fifth (21%) of people said they had bought jewellery intending to pass it down as an heirloom. Many had also inherited items: 27% inherited jewellery, 15% books, 13% watches, 12% furniture, and 9% antiques or collectables. Two percent inherited fine wines or spirits and 2% inherited movie memorabilia.
Insurance advice
NFU Mutual commissioned OnePoll to survey 2,000 people across the UK in April. Dawn Blazier, head of bespoke home insurance at NFU Mutual, said: “We truly are a nation of collectors, and our latest survey data suggests that this will remain the case as Gen Z and Millennials continue to build their collections. ... With so many of us collecting and investing in items for the future, it’s more important than ever that people avoid underinsurance by making sure their contents are properly valued and listed on their insurance.”
