Billion dollar Art Basel Hong Kong is a hit with Asia’s ballooning crowd of collectors
The cream of Asia's art world descended on Hong Kong last weekend for Art Basel's annual showcase in the city. Over 65,000 visitors filled the lofty halls of the Hong Kong Convention and Exhibition Center to admire works from leading galleries from both the east and the west.
Courtesy Art Basel
Art Basel Hong Kong —
The show attracts a well-heeled international audience of wealthy buyers, artists, gallery owners, VIPs and celebrities. Its popularity goes beyond the world of art professionals, and the five-day itinerary of events and exhibitions is seen as an important date in southeast Asia's social calendar. Here, visitors look at 'rem(a)inder' (C), a work by Michelangelo Pistoletto.
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However, it's not only glam, glitz and Champagne-soaked receptions. Art Basel Hong Kong is where the big deals are made, and according to Bloomberg, the show has more than $1 billion worth of art for sale, with multimillion dollar transactions for single artworks not unusual. The installation shown here is by Chinese artist Shen Shaomin.
Courtesy Art Basel
The event has come a long way since 1970 when a handful of gallerists in the Swiss city of Basel got together to showcase the work of contemporary artists they represented. Today, the fair is a global extravaganza, with branches in Hong Kong and Miami Beach. This monumental inverted head, entitled e minor (4), was created by the German artist Michael Sailstorfer.
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The fair is divided into several sectors -- Galleries, Discoveries, Encounters, Magazines, Film and Insights, the latter of which was developed specially for Art Basel Hong Kong to present works by artists from Asia and Asia-Pacific -- from Turkey to New Zealand. Shown here is an installation by Korean artist Yeesookyung.
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The Galleries section displays works from eminent modern and contemporary art galleries, such as the White Cube and Gagosian, with Encounters reserved for large-scale installations, like the one shown here by the Dutch based Atelier Van Lieshout.
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But it's not all blockbuster names, with the Discoveries section giving a chance for emerging artists at the start of their careers, such as Pamela Rosenkranz and David Hominal whose work is shown here, to exhibit on a prestigious global platform.
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For the first time ever the show included a Film sector, a three day program of films by, and about artists, presented by the Beijing- and Zurich- based curator, multi-media artist and producer Li Zhenhua. Here, the wall is adorned with the work of Yang Fudong, one of China's most respected photographers and cinematographers.
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The event is part of a wave of a greater appreciation for contemporary and modern art in the region. Out of 245 galleries from 39 countries which exhibited, over half came from Asia and the Asia-Pacific -- including 24 galleries with exhibition spaces in Hong Kong. This painting of an autumn landscape is by Chinese artist Hong Ling.
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Wealthy Chinese buyers, who have previously banked almost exclusively on brand names such as Picasso, Matisse and the old masters, have increasingly looked toward contemporary art to expand their collections in recent years. They have also been more willing to spend large amounts of money to acquire less traditional works such as this sculpture by James Capper.
