Hong Kong’s Ups and Downs: Spruth Mägers ⬆️; Massimo de Carlo ⬆️; Ben Brown ⬇️

Georgina Adam explains the comings and goings in Hong Kong. First, Massimo de Carlo who has galleries in Milan and London is picking up some of the space currently used by Ben Brown, another London gallerist. Adam spoke to Brown:

“Hong Kong has been adversely affected by the falls in the Chinese stock exchange; people are definitely making less money and this is impacting on art sales here. I have some clients who are saying this isn’t the time to buy. Nevertheless, the Pedder Building is the ideal place to be, and I am happy I didn’t close the gallery entirely.”

Even as Brown was downbeat, Adam found that Spruth Mägers’s Patricia Crockett was feeling positive:

“We exhibit at the Basel fair in Hong Kong and last year in particular went very well. Our objective is to promote western artists such as Jenny Holzer and Barbara Kruger — we feel that the region is ready to embrace them more fully. Initially we will have a viewing space, but it is probably the first step to finding our own gallery.”

The Art Market: Dealers on trial (FT.com)