"Marc Payot, president of Hauser and Wirth, emphasized the importance of long-term engagement, stating, 'What matters is long-term engagement-building relationships, not just transactions.' He noted that serious collectors were actively engaging at the fair."
"Despite the bustling atmosphere and some early million-dollar sales, many dealers remarked on a market shift, indicating that collectors are now taking a more deliberate approach to buying, moving away from first-day urgency."
Art Basel Hong Kong showcased a diverse audience, including top collectors and celebrities. Attendance was high, with long lines forming outside the venue. Marc Payot from Hauser and Wirth noted the importance of building relationships with serious collectors. Despite early high-value sales, many dealers observed a shift in collector behavior towards more deliberate purchasing decisions. This change coincides with a contracting auction market in Hong Kong and evolving geopolitical tensions affecting the global art trade.
Read at Artnet News
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