Galleries Beware: Hong Kong’s No Dumping Ground

Adeline Ooi doesn’t pull any punches in this New York Times piece on the ArtBasel Hong Kong fair. As Global Director Marc Spiegel makes clear in the podcast (above), there’s been a perception that Asian collectors can be sold “inventory.” That’s proved far from true. Collectors around the world are very sophisticated about what they buy, when and why. This has been especially true for Chinese collectors:

“The fair has had a reputation for being a dumping ground for galleries,” said Adeline Ooi, Asia director for Art Basel. “But that’s changing, and people are taking our clientele seriously. No one thinks they are going to sell out in an hour within the fair opening. But I think that’s good for us, because it means the quality of the show has to be solid, the galleries have to bring their best stuff to Asia.”

Art Basel Hong Kong Opens to Less Frenzy  (The New York Times)