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arts & creative industries
Art Basel draws record crowds, strong sales

The 2016 edition of Art Basel Hong Kong featured 239 galleries, attracting a record of more than 70,000 visitors.

The fourth edition of Art Basel Hong Kong, held March 24-26, once again placed the city in the center of Asia’s international art scene. It also provided an in-depth overview of the region’s diversity through works by both established and emerging artists.

A total of 239 galleries from 35 countries and territories participated, attracting a record of more than 70,000 visitors. Among the attendees were directors, curators, trustees and patrons from more than 100 leading international museums and institutions. Celebrities, including Oscar winners Leonardo DiCaprio and Adrien Brody and model Karolina Kurkova, were also in attendance.

Despite concerns over the recent economic slowdown in the international art market, galleries reported strong sales throughout the week. Several galleries, including Pace Gallery in New York and David Kordansky Gallery in Los Angeles, reported having sold all or almost all of their exhibited works.

Dominique Lévy Gallery of New York, London and Geneva sold an untitled Rudolf Stingel painting with an asking price of US$1.9 million. David Zwirner Gallery of New York and London reported its best year at the fair, selling works by Belgian artist Michaël Borremans, made especially for Hong Kong, for up to US$1.6 million. Cardi Gallery of London and Milan made one of the biggest sales, a work by Cy Twombly that had an asking price of US$10 million. Tyler Rollins Fine Art in New York sold a large installation by Vietnamese-American artist Tiffany Chung to M+, the museum of visual culture that is scheduled to open in Hong Kong in 2019.

The 2017 edition of Art Basel Hong Kong will take place March 23-25.


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