Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Hong Kong Struggles with the Idea of Regulating the Art Market

November 6, 2012 by Marion Maneker

The Hong Kong Standard is groping toward the same question that haunts the art market in the West: how to regulate a market that has no independent measure of value?

As such, a universal regulatory set of governing laws has proven difficult to formulate, and the situation will likely remain so. It must also be said that many of those within the art trade thrive on and prefer the current system.

They hold an ask-no-questions – insider dealing is part and parcel of the trade – mentality that has contributed to the continuous growth of the art market, even while the global economy was on the brink of collapse.

A critical pillar of the self-regulating market is scholarship. This, by traditional definition, is an independent research, review and analysis of key art trends and achievements, providing proof of provenance and professional expertise behind an artist’s critical reception and their market value.

As the art business continues to expand and globalize, its long-term sustainable growth depends on ensuring and supporting high- quality, uncorrupted, reliable and accessible scholarship.

 Art Pillar Needs Solid Foundation (Hong Kong Standard)

More from Art Market Monitor

  • The Broad Buys More Baldessari, Levine, Sherman & MoreThe Broad Buys More Baldessari, Levine, Sherman & More
  • Picasso Drawing Owned by John Steinbeck to Sell at HeritagePicasso Drawing Owned by John Steinbeck to Sell at Heritage
  • Vernissage TV: Armory ShowVernissage TV: Armory Show
  • Christie's Names New CEOChristie's Names New CEO
  • Orientalism and the OrientOrientalism and the Orient
  • Art Meets Fashion Retailing from Adrian Cheng’s K11 to Peter Marino’s ClientsArt Meets Fashion Retailing from Adrian Cheng’s K11 to Peter Marino’s Clients

Filed Under: General

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor