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Art Basel

Chinese buyers finally come out of the woodwork for Art Basel Hong Kong 2014

The fair's long-term goal has been to crack the Chinese market

Like many second editions, Art Basel in Hong Kong (15-18 May) did not have the razzmatazz of the first, but it delivered the region’s holy grail: buyers from mainland China. Many galleries, some of which participated in the fair before it became Art Basel (it launched as ArtHK in 2008), were finally rewarded for their patience as sales benefited somewhat from the conspicuous Chinese buying of Western art at the concurrent auctions in New York. Sales to China at the fair were largely below the $200,000 level, with several in the four- or five-figure range, including Bill Brandt’s René Magritte, 1966, which was sold for HK$90,000 ($11,600) by the British dealer Michael Hoppen.

Originally appeared in The Art Newspaper as 'Art Basel in Hong Kong finally delivers Chinese buyers'

Appeared in The Art Newspaper Archive, 258 June 2014