Hong Kong Art Fair

June 2010

This article was produced by leading international art advisory firm 1858 Ltd who provide independent and impartial advice to HSBC Private Bank clients in all aspects of the collecting process in association with the HSBC Private Bank art and design advisory team.

One of the most significant features of the decade just past was the meteoric rise of the Asian art market which subsequently saw the region developed itself as a hub for biennales and art fairs; the most recent and significant of which being the Hong Kong Art Fair (ART HK).

Known as the gateway between the East and West, the island of Hong Kong has provided an ideal location for an art fair with international appeal. Aside from being home to some of Asia's wealthiest and best-educated people, Hong Kong's tax-free art buying/selling status and close proximity to the energy of the contemporary boom on mainland China have greatly influenced the phenomenal success of this young, three year old event.

With its debut in May 2008, ARTHK08 displayed works from 101 international galleries, drew 20,000 attendees and reported sales of $20 million including several singular sales of over $1 million. This year, ARTHK10 has lured an impressive list of 150 galleries from 29 countries. Organiser's predict that the fair will fetch significant sales - "The economic situation is much stronger in Asia than it was last year, and as a result we expect more discretionary spending," says fair director Magnus Renfrew. "We’re working hard to nurture the collector base at every level, and there is work on sale from as little as $1000 right up to $10 million."

The HSBC PB Art and Design Advisory service will be present at ARTHK10 and we look forward to meeting you.

To learn more about the HSBC PB Art & Design Advisory service please contact the dedicated helpdesk on:

T: + 44 207 692 4884
E: hsbcpb@1858ltd.com

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