Art HK 2012 – in the Zone

Art HK organizer has confirmed a record 67,205 visitors attended the 4-day fair that finished last Sunday. Sales was also impressive sampling Chinese artist Chu Teh-Chun piece “No313 1969” was sold for US$ 3 million and the five works by Italian conceptual artist Aligheiro Boetti that sold for 1 million Euros.
But most of the talk around town was just how far the event had come in five years since its first edition. Over the five years Hong Kong has established itself as the third largest auction house for fine art – behind New York and London – and the city’s growing stature was reflected also this year by an impressive array of seminars hels as art of Art HK. Among them, the Private Museum Panel lifted the lid on such important matters as what socio-political role such private museums play and how sustainable they are to maintain costs and succession.
The high success of Chinese contemporary art has elevated Hong Kong as an intrumental city and Art HK has played an important role to capture the momentum of the increasing interest for art as an alternative investment.
Despite tha fact that Art Basel holds a 60% share, the fair director Magnus Renfrew reassured art lovers that more than 50% of the galleries on show in 2013 would be from Asia. Still the Asian art sells best but the Western art has more presence than before.

Two Hotel fairs were held at the same weekend as satellite fairs.

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