International art fair sets new standard (hktdc.com)


	Fair visitors were wowed by Picasso's Trois Femmes a la Fontaine

	Francis Bacon's Man at a Washbasin was one of the multimillion-dollar paintings on show

	Fair director Magnus Renfrew says Hong Kong's importance as a contemporary art hub makes it the perfect place to stage the event

Pablo Picasso, Andy Warhol and Damien Hirst were just a few of the big names under the spotlight at Art HK 08, the largest international art fair ever staged in Hong Kong. More than 19,000 buyers and collectors of contemporary art took in the inaugural event, 14-18 May, at the Hong Kong Convention and Exhibition Centre.

The choice of Hong Kong as the venue for the new art fair was no accident. The city is the world's third-largest art market in terms of auction sales, after New York and London. "Hong Kong is a perfect place to host an event such as this," said Fair Director Magnus Renfrew. He said the city's infrastructure and its proximity to Taiwan and the Chinese mainland, home to some of the region's biggest collectors of contemporary art, make it Asia's ideal arts hub. Aside from its international reputation as an established business centre, Hong Kong enjoys another trump card over Shanghai and other major Asian cultural cities: it has no tax on the import or export of art, unlike the Chinese mainland, which imposes a punitive 34 per cent tax on artwork.

Art HK 08 enlisted 102 contemporary and modern art galleries, showcasing the work of 850 artists from more than 20 countries. Art by Warhol, Picasso and Francis Bacon, as well as such established mainland artists as Zhang Xiaogang and Feng Zhengjie, were featured alongside the work of emerging artists. More than US$65 million worth of art was on display, including Bacon's Man at a Washbasin, priced at about US$35 million, and Warhol's Avanti Cars, valued at US$3.7 million. Four galleries, including Hong Kong's Grotto Fine Art, reported selling out their displays.

Galleries drawn to Hong Kong

For participating galleries, including 12 from Hong Kong, Art HK 08 was a chance to meet collectors and develop new clients. Cologne-based Galerie Stefan Ropke, exhibiting in Asia for the first time, brought a mix of new and established artists, including the late American photographer Robert Mapplethorpe. "For us Europeans, Hong Kong is a city of old things and new. Hong Kong's advantage is that you have more open-minded collectors willing to consider new ideas," said the gallery's Michael Tekath.

Seoul's Seomi&Tuus Gallery, which featured work by Hirst and other Western contemporary artists, has exhibited in New York, but Hong Kong was its first foray in the Asian market outside Korea. "Hong Kong is one of the most important places for contemporary art. The contemporary art market is changing rapidly and it's occurring in Asia. This is a good opportunity to get a sense of what's going on in the industry," said the gallery's PJ Park.

While Asia boasts several art fairs, including shows in Seoul, Shanghai and Tokyo, Mr Renfrew said Art HK 08 is the region's only truly international fair. This, he added, was long overdue. "There's been this gap in the market for an international art fair," he noted, and with the growing interest in contemporary Asian art, the timing was right. He also pointed out that other regional fairs tend to be rooted in the place, whether it was locally based exhibitors or artists. "The Hong Kong show represents great diversity," he said.

Cultural significance

Mr Renfrew stressed that Art HK 08 was as much a cultural event as it was a commercial fair. "The best art fair in the world is not just about buying and selling. We want this to be of cultural significance to Hong Kong," he noted. That, he added, is why ancillary events were held alongside the fair, including a non-commercial exhibition that showcased the work of emerging artists from Hong Kong and elsewhere. A one-day conference was also held focusing on the role of museums and cultural districts.

Art HK 09 is scheduled to take place 13-17 May.