Art Basel Hong Kong opens with a local focus, strict rules, and surprisingly strong sales after nearly being called off:
or simply to escape the city’s stringent Covid rules. Some gallerists expressed concern before the fair’s opening that many of their client would not be in Hong Kong.
Visitors look at an art work at Lucie Chang Fine Art’s presentation of King of Kowloon on the second preview day of Art Basel in Hong Kong on May 26, 2022. Photo: Bertha Wang/AFP via Getty Images.
Many galleries reported sales, however, not just to Hong Kong-based collectors who visited the fair in person, but also some from mainland China, South Korea, across Asia, and Europe. Most of the sales gathered so far during the first two VIP days were under $1 million, with a number of them in the five-figure range.
De Sarthe sold all 23 works it brought by local artist Mak2 , including eight paintings priced between $18,000 and $20,000, and drawings, to clients based in Hong Kong, mainland China, and the West. Peres Project also sold a work by the up and coming female artist.
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