Hong Kong has solidified its position as major art centre with new donations and a $351m auction.
Chinese luxury buyers were seemingly undeterred by the imminent property slump and spent a staggering HK$2.7 billion (US$351.7 million) during a five-day auction in late May. Classical Chinese paintings and calligraphy, contemporary Asian art, jewellery, watches and wine attracted “energetic bidding” from local Hong Kong, Mainland Chinese and global buyers.
Art reflecting art in Hong Kong Image: Istolethetv |
The Hong Kong Spring Auction, which took place at the auspicious Christie’s auction house, far exceeded the expected target of HK$2 billion (US$260 million reflecting consumer confidence in the global art market.
The auction will help consolidate Hong Kong as a global centre for art, alongside London and New York. Recently, the city’s museums have also benefitted from several large donations. Prolific collector Dr Uli Sigg will donate 1,463 pieces from his vast collection to Hong Kong’s M+ Museum, which have a collective value of around US$163 million.
The collection will comprised China’s top “blue chip” artists, such as Zhang Xiaogang, Liu Wei and Zeng Fangzhi, as well as numerous other works. The donation will add prestige to the yet-to-be-built M+ Museum, which aims to be a cultural and critical centre on a par with the likes of the Tate Modernin London or New York's Museum of Modern Art (MoMA).
Huge crowds also massed at the city’s largest ever exhibition of Picasso paintings last month. The event, “Masterpieces from the Musee National Picasso, Paris”, featured 48 oil paintings and seven sculptures from the iconic Spanish master, covering his most famous periods – Blue, Rose, Cubist and Neo-Classical. The exhibition took place at the low-key Hong Kong Heritage Museum and also featured French music, dance, fashion and fine dining.