Visitors look at works of art at Art Basel in Hong Kong on March 21, 2023. (PHOTO / AFP)
HONG KONG - The organizers of Art Basel Hong Kong, one of Asia's leading contemporary art fairs, said on Tuesday they are bullish on art market prospects in the region, with the Chinese mainland and the Hong Kong Special Administrative Region now having lifted all COVID lockdown restrictions.
The number of galleries at Art Basel Hong Kong has increased to 177 this year from 130 in 2022, with 32 countries and territories across Asia, Europe, the Americas and Africa participating
The annual fair, which also has iterations in Basel, Paris, and Miami Beach, runs from March 23-25 in Hong Kong.
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The number of galleries has increased to 177 this year from 130 in 2022, with 32 countries and territories across Asia, Europe, the Americas and Africa participating.
"Despite the challenges of the pandemic, the Asian art market has also remained resilient, with (the Chinese art market) accounting for 20 percent of worldwide sales by value and ranking second as the second largest regional art market in the latest edition of the Art Basel," Art Basel CEO Noah Horowitz told reporters.
Leading international galleries at Art Basel this year include Gagosian, Hauser & Wirth, Lehmann Maupin, Victoria Miro, Pace, Perrotin, White Cube and David Zwirner.
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Visitors look at an artwork from the Kaikai Kiki gallery, Tokyo, at Art Basel in Hong Kong on March 21, 2023. (PHOTO / AFP)
In a mall near the glitzy halls of Hong Kong's harbourfront convention center where Art Basel, the show has installed a 10-meter-tall inflatable sculpture of Egyptian pharaoh Tutankhamun titled "Gravity" by Los Angeles-based artist Awol Erizku.
The HKSAR government has welcomed the art fair as it strives to reinvigorate the city's economy.
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