Laura Shao, director of international development at the Beijing-based Hive Center for Contemporary Art, said the fair had made a strong comeback with higher-quality artworks than last year.
“It’s even better than 2019 because people have been starved of it in the past few years. You really see that kind of explosion of energy and events,” she said.
Shao added that this year’s event showed Hong Kong remained a leading art trading hub.
“The China and Asia market overall is growing larger than ever. Existing collectors are more mature, the number of collectors is growing and more collectors internationally are buying from Asia than ever,” she said.
She said galleries had “really upped their game” this time around, with many museum-level works present as studios sought to echo this year’s Venice Biennale by bringing along artists to showcase the quality of their pieces.
The Hive Center for Contemporary Art had attended the event since 2017 and it was clear collectors had become more experienced and mature, with a better understanding of the ecosystem, Shao added.
“They are more targeted and know what they are looking for. They also do their homework, and they make decisions fast,” she said.
Zheyuan Zhang, Asia director of the Paris-based Galerie Balice Hertling, echoed Shao’s comments that Hong Kong remained a leading art trading hub, citing his experience in other parts of the world.
His gallery had attended every iteration of the event since Art Basel Hong Kong’s first edition in 2013, he added.
“We’ve been to other cities, including other Asian ones, and we did not stop during the pandemic, I feel that Hong Kong still can’t be replaced,” he said.
Zhang said he felt this year’s fair had seen more in-depth exchanges with collectors, who had shown a keen interest in studying the works in person, doing their research beforehand and speaking to artists and gallerists.
The change allowed for collectors to have a greater understanding of the artworks available, which encouraged galleries to put more higher-quality works on the market.
An Art Basel and UBS report from 2024 shows that China and Hong Kong represent 19 per cent of the art market, overtaking the UK at 17 per cent. The US held the top spot at 42 per cent, but the figure was down by 3 per cent year on year.
Art Central, back in its Central harbourfront marquee, puts on a show
Art Central, back in its Central harbourfront marquee, puts on a show
Guangzhou-based Spanish architect Mar Garrido said she had visited Hong Kong to attend Art Basel, having also attended last year’s event.
“I really like design, it’s a good opportunity to see art from all over the world. It’s very international,” the 43-year-old said.
“I felt that what makes it different is that you see a lot of Asian art and artists represented, such as those from China and Korea. I really like this mix of the East and the West.”
While she enjoyed last year’s art fair, Garrido said preferred the pieces on show this time around, noting a significant improvement and describing them as “at a higher level”.
Japanese collector Satoshi Haga flew to Hong Kong to attend the fair with his wife and daughter, with the family also visiting local cultural institutions such as Tai Kwun, the M+ museum and the Gagosian Gallery.
“It’s my first time at Art Basel Hong Kong,” the 44-year-old added. “We’ve been to art fairs in Tokyo before, but the scale and quality are different. Hong Kong has a thriving art scene and it’s more vibrant than Japan.”
Haga said he was drawn to contemporary and abstract pieces, which had attracted him to Art Basel, and planned to return for next year’s fair.
Shenzhen-based interior designer and consultant Hu Yeming had promised himself he would attend Art Basel after seeing his friend’s social media posts about the 2023 event.
“I wanted to understand the latest trends in contemporary art, which would be beneficial to my work in interior design,” the 62-year-old said. “Also Hong Kong is so close and very convenient for me, I must come visit.”
Hu said he attended interior design fairs that also showed furniture in Milan before the Covid-19 pandemic, but described the fair in Hong Kong as “stunning”.
“I’ve really enjoyed it despite forking out several hundred [Hong Kong] dollars for a ticket,” he said.
