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Hong Kong Buyers Expect Returns

April 18, 2012 by Marion Maneker

Agence France Presse says Hong Kong buyers are falling for Chinese Contemporary art which still relies on Western buyers to make up a significant portion of the top end of the market. AFP also says that HK buyers are very investment-minded. Here’s their example:

For seed money of HK$180,000 ($23,300), Levenza Toh bought a painting by a Chinese contemporary artist Liu Chunhai, which she hopes will rise in value by 20% each year — a strong return compared with last year’s stock market slump of 25%.

The city’s bourse has rebounded so far in 2012 after the euro zone-driven losses of 2011, but Toh — who confesses to being green to the art scene before buying — says her investment also brings an esthetic bounty.

“If the painting loses value I still have something beautiful to pass on to my children,” she explains. “Of course I saw the numbers… but I also saw the artwork, the story behind it, and it connected with me so I am happy to own it.”

Canvas the new ‘safe-haven’ for Hong Kong investors (AFP)

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Filed Under: General

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