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Art Basel Hong Kong full-scale returns with an objective turnover

The 11th edition of Art Basel Hong Kong was held from Mar. 28 to 30 at the Convention and Exhibition Center, with more than 80,000 visitors and totaling $39.4 million, recording a 4% increase in global turnover.

Art Basel 2024 showcased the work from 242 of the world's leading galleries from 40 countries and territories. 

Lu Caiyun, Chairman of UBS Wealth Management Asia, said in a public address that art market sales in Mainland China and Hong Kong reached approximately US$12.2 billion, a 9% increase year-on-year.

"While the cloud of high interest rates, inflation and political instability continues to slow down growth at the top end of the market, buyers are particularly active in the lower price points,” said Clare McAndrew, the founder of Arts Economics. 

This year, 23 galleries from Asia, Europe, Africa and the Americas exhibited in Hong Kong for the first time, with an increase of 65 galleries over 2023, according to Art Basel Hong Kong.

“Our goal is to connect visitors from around the world with our home, Hong Kong, through the collaboration and innovation inspired by art and artists," said the director of Art Basel Hong Kong Sylvia Lok in public address.

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Art Basel is divided into six exhibition areas and attracts over 80,000 visitors, according to Art Basel officials.
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An art consultant gives two ladies specific information about the artwork and its price. According to Art Basel 2023 and UBS Global Art Market Report, China has overtaken the UK to become the world's second-largest art market, with a 19% share of the total market.
Chen Ning(Left), a director of an art island project, is exchanging ideas with his colleagues. "I flew from Hangzhou to Hong Kong specially to attend the art basel exhibition to seek some art inspiration for my own project,” he says.
“What I saw from the painting is the shift from focusing on others to looking at your own inner state,” says Li Yongbo as he appreciated the portraits work done by an American painter, Alex Katz. Li is the owner of an art organisation in Shenzhen and comes all the way to Art Basel today.
In the Galleries section, Richard Nagy, a top gallery from London, presents a Schiele retrospective with more than 40 works, including oils, watercolours and drawings.
Yoyo Lee, 20, a college student, shows her favourite art piece in the exhibition, a painting by Shingo Francis from Los Angeles. “ I like to simply observe the changes in light and shadow, and this painting strikes me as a visualisation of the sunlight through the glass,” Lee says.
“I love those artwork that uses bright and bold colours, however, most of the pieces in the venue are too plain,” said Qi Jiayu, 19, a lover of Expressionism Art. She said there are too many repetitive genre pieces this year, compared with last year’s exhibition.
In front of Zao Wou-ki’s works, crowded visitors are taking photos. Zao never titled his paintings voluntarily, but named them after dates. Following the 2019 epidemic, his works are exhibited at art basel almost every year.
A mom takes her daughter through a gallery of contemporary art exhibitions and teaches her daughter how to take photos of the pieces of art.
A mom is taking a selfie with her baby in front of Picasso's abstract painting. This year, the Helly Nahmad London Gallery exhibits paintings by Picasso, Kandinsky and other masters.

Japanese artist Ken Kagami gives a free one to one intimate portrait in the exhibition centre on the third floor. Kagami prefers presenting his style of art with humour and some explicit erotic content and it’s his first time participating in Art Basel.
Art Basel is divided into six exhibition areas and attracts over 80,000 visitors, according to Art Basel officials.
A male tourist wearing a Panama straw hat stands in front of Cupid with Dog, a 3D printed aluminium artwork, in contemplation.This piece of artwork was created by Oliver Laric, a plastic artist and his another work, The Hunter and His Dog, was featured at art basel 2019.
A couple stand in front of a piece made of PVC strips and acrylic on a panel and put their ears close to the piece to try to ‘hear’ its sound.
Kelly Cheung is holding a bag, taking photos with the big Birkin bag sculpture shown at the Eigen + Art booth. "My daughter bought this small bag for me in Singapore, and I just saw this big one at the exhibition,” she says, “so I think why not take a photo with it in a novel way?”
“These installations look flashy,” says Thomas Paul, 24, a French visitor. He says this year’s exhibition strikes him as a bit generic, lacking something impressive. “I find the people watching the artworks here more interesting than looking at the artworks themselves,” he added.
After a day's work, the crowd gradually decreases in the venue and the art consultant is taking a brief rest after a busy schedule.


《The Young Reporter》

The Young Reporter (TYR) started as a newspaper in 1969. Today, it is published across multiple media platforms and updated constantly to bring the latest news and analyses to its readers.


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