The international Hong Kong art scene has moved leaps and bounds in the past few years to become one of the art worlds key players.
As China overtakes the United States in purchasing power the Hong Kong gateway into Asia and beyond has never been of such importance.
This years prestigious Art Basel Hong Kong, hosting 245 of the worlds biggest galleries including the likes of Gagosian, Pace, White Cube and Hauser & Wirth looks set to be Hong Kong’s biggest yet.
The city and art world is abuzz with the way Hong Kong’s are scene is moving, a buzz that has continued to grow year on year.
In previous years the fair has had an even 50/50 split between Eastern and Western exhibitors, as Asia’s purchasing power continues to grow, galleries are banking on an influx of investment into the art world with this growing wealth.
One key success factor as a gallery is to ensure you select artists with an already active presence in the Asian art market, Asian buyers have historically been cautious of the unfamiliar and prefer to buy at auctions, where reassured by the presence of competitive bidders.
Ivor Maciejowski, of RatherSuperb comments that when the right artist is presented to Asian buyers, an artist they both know and trust, the collecting possibilities are endless. One example being Andy Warhol’s Mao, a staple for many Chinese collectors.
The shift in Asian collectors collecting Western art goes hand in hand with Asia’s growing knowledge and comfort of Western culture, alongside the West’s growing adaption into Asian culture.
A new generation of Western educated collectors are appearing, perfectly bridging the gap between the East and West. these collectors have a new level of confidence and comfort in Western artists and serve as an example of the future of the Asian art collector.
With Chinese continuance into world domination we ask, is art world dominance only a matter of time?