A Look Around Art Basel Hong Kong 2018

As the art market in Asia continues to take over the world by storm, the rapid sales of some of the most expensive works at the Art Basel Hong Kong 2018 confirmed what dealers and auction houses have been betting on—growing ranks of wealthy buyers from all over the region who are determined to score blue-chip masterpieces and who are not afraid to spend seven- and eight-figure sums for the best work.

Less than two hours into the VIP preview of Art Basel in Hong Kong, a Willem de Kooning abstract painting from 1975 with an asking price of $35 million. Adding even more luster to the appeal of the work is the prestigious owner, Microsoft co-founder and billionaire collector Paul Allen, who requested to sell it. The buyer’s identity was kept confidential.
A Willem de Kooning abstract painting from 1975

Some of the other showcased collections during this 3 day art extravagenza include KAWS’s collection which was kept strictly confidential until its reveal during the fair’s vip opening night. Famous Artists who arrived at the fair include Yoshitomo Nara, KAWS, Mark Ryden, Pan Dehai, Jeff Koons, Zhang Xiaogang, Takashi Murakami.

Let us take a quick look around the fair at the creative, the upcoming and the valuable.