Runaway Success Of HK 09 Proves That The Chinese Dragon Has Woken Up To Contemporary Art
Contemporary Chinese artist Jian'an Shi's pieces were some of the highlights of the HK 09 Art Festival
Joyce Lau writes today in the New York Times that the HK 09 International Art Festival, which took place over the weekend, illustrated better than most art fairs the vibrant arts culture that exists in Hong Kong. The fair, writes Lau, indicates what many Hong Kong watchers have always known, that the city is a magnet for the arts, luxury goods, business, media, and cuisine. With this unique mix of cultures both traditional and transitional, Hong Kong is vying to be the 21st century equivalent of Tokyo in the 1960s or New York or London before that.
For all attendees, the HK 09 Festival illustrated what Lau calls the city’s “quest to become a global hub for luxury goods.” With its proximity to the Mainland, and the increasing ease of travel for Mainland Chinese to Hong Kong (along with the perennial ease for their Hong Kong counterparts), the blending of Hong Kong’s kinetic cultural melting pot with the Mainland’s ever-changing spirit makes this region a must-see for anyone interested in Asia’s unique, exciting energy.
Posted in Art, China, Chinese Art, Culture, Investment, Luxury, Museums
Tagged Art, asia, asia art archive, asian auction week, China, chinese, contemporary art, damien hirst, festival, HK 09, hong kong, konstantin bessmertny, lin xue, London, macao, magnus renfrew, mainland, New York, seoul, simon birch, taipei, tokyo, tracey emin, white cube, wu jian'an, xinning shi, xu bing, zhang ding
Organizers Looking To Make Annual HK Festival Asia’s Answer To Art Basel, Frieze As Local Collector Base Grows
The Hong Kong International Art Fair is rapidly becoming a major annual destination for art lovers, collectors, galleries, and museums
Hong Kong’s large-scale HK 09 International Art Fair, which we profiled last week, is off to a successful start. As James Pomfret writes, the “burgeoning international art fair…aimed at tapping Asia’s growing pool of contemporary art collectors has shown positive signs of shrugging off the global economic downturn.”
New collectors from the mainland, as well as Western and other East Asian collectors, are taking to the festival’s auctions, held by Western and Asian auction houses, to snatch up works during one of the best buyers’ markets in recent history. As Pomfret goes on to indicate, the organizers of HK 09 are looking to establish the festival as Asia’s answer to the Western art fairs like Art Basel in Switzerland and Frieze in London:
Posted in Art, Business, China, Chinese Art, Culture, Economy, Investment, Museums
Tagged Art, art basel, art collectors, art festival, asia, auction, cai guo-qiang, cai guoqiang, China, Chinese Art, chinese contemporary art, contemporary art, damien hirst, frieze, gagosian gallery, gilbert & george, HK, HK 09, hong kong, james pomfret, jin young yu, julian opie, London, magnus renfrew, reuters, switzerland, white cube, yang shaobin
Investment Funds Looking To Buy Artwork, Gains In Industry Expected As Investor Confidence Increases
Wang Jin, Knocking at the door, 1995 © Wang Jin
It has not been a very good year or so for assets in general, as everyone knows. Reflecting the new hesitance to put money towards the great-risk-but-great-rewards-maybe investments of the world like real estate, investment funds are getting creative. Some funds are going against the grain, putting money toward assets that are not expected to bring quick, huge returns yet are expected to appreciate over time and — perhaps most importantly — outpace inflation. Since massive global spending on stimulus packages and the like are expected to bring at least SOME measure of inflation into the picture, investors are looking at assets that will keep their money in check, and allow it to grow at a sustainable pace.
Posted in Art, Business, China, Chinese Art, Economy, Investment, Museums
Tagged andy warhol, Art, banksy, castlestone management, China, damien hirst, Investment, investment funds, meridian art partners, wang jin