New contemporary art fair slated for Hong Kong

A new art fair devoted to "affordable" contemporary art will be held in Hong Kong next year, organisers said Wednesday, confirming the city's new status as a regional art hub.

The fair is being put together by Affordable Art China, which has mounted a similar event in Beijing since 2006 and is opening a new franchise in Shanghai later this year.

The new fair will sit alongside the established Hong Kong International Art Fair (Art HK), which opens its fifth annual edition on Thursday with more than 250 galleries represented.

Affordable Art China chief executive Tom Pattinson said his event would offer smaller galleries and emerging artists access to the booming art market of Hong Kong, third only to New York and London in terms of art auctions.

There was a proven demand for "accessible contemporary fine art in the region" he said, defining its maximum price as US$5,000.

He said 70 percent of all art sold in Western markets was priced below the mark, while the value of the "affordable art" market in China was estimated at $1.1 billion a year and was doubling annually.

Art HK director Magnus Renfrew said the new fair would not be a threat to his organisation, which was bought last year by Art Basel, one of the world's oldest and biggest art fairs.

He said Affordable Art catered to a "very different audience" to Art HK, which attracts the some of world's most prestigious galleries offering top-end art to the wealthiest collectors from around Asia and the West.

Editor’s note:Yahoo Philippines encourages responsible comments that add dimension to the discussion. No bashing or hate speech, please. You can express your opinion without slamming others or making derogatory remarks.

  • The other side of Palawan Ellen Tordesillas, Contributor - The Inbox
    The other side of Palawan

    By Ellen T. Tordesillas Mention Palawan and what comes to mind are  Underground River and El Nido in the northern side of this richly-blessed province from its capital, Puerto Princesa. Three  weeks ago, we went to the southern side- in … Continue reading → …

  • What can void a new car warranty? James Deakin - Wheel Power
    What can void a new car warranty?

    "I was denied warranty once for changing my horn!" One very annoyed reader wrote. "I was told that placing a backup camera will void my warranty" said another. The others are best left in my private inbox as Yahoo! have a swear jar in the office that I do not feel like donating this week's pay to. Continue reading → …

  • Docu exposes destruction of PH marine resources VERA Files - The Inbox
    Docu exposes destruction of PH marine resources

    By Kiersnerr Gerwin Tacadena, VERA Files "Gutom (hunger)," Sen. Loren Legarda said is what’s in store for the Filipino people if destruction of the country's marine resources is not stopped. Legarda, chair of the Senate committee on Environment and Natural … Continue reading → …

POLL
Loading...
Poll Choice Options