This is your biweekly members-only newsletter providing mission-critical analysis, insights, and exclusive intelligence on developments in Asia’s art markets, with a focus on business opportunities and challenges. (If you were forwarded this email, you can subscribe here.)
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This is your biweekly members-only newsletter providing mission-critical analysis, insights, and exclusive intelligence on developments in Asia’s art markets, with a focus on business opportunities and challenges. (If you were forwarded this email, you can subscribe here.)
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Cathy Fan Editor-in-Chief for Artnet News China |
| Vivienne Chow London Correspondent |
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This week in The Asia Pivot: What to expect in Asia in 2025, former Art Basel exec Adeline Ooi on the state of play in the region, Kaifan Wang’s multilayered, multivalent paintings, and more—all in a 6.5-minute read (1,761 words). |
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Cathy Fan
Editor-in-Chief for Artnet News China |
| Vivienne Chow London Correspondent |
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This week in The Asia Pivot: What to expect in Asia in 2025, former Art Basel exec Adeline Ooi on the state of play in the region, Kaifan Wang’s multilayered, multivalent paintings, and more—all in a 6.5-minute read (1,761 words). |
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The Big Picture
2024 in the Rearview |
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The Big Picture
A Bigger Asia in 2025 |
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Happy New Year! It has only been 2025 for two weeks, but the art world in Asia has been busy. Following the 13th edition of Mumbai Gallery Weekend in India (January 9–12), which featured 37 galleries, it is now Singapore Art Week. Alongside institutional and gallery shows, the Art SG and S.E.A. Focus fairs are running and Sotheby’s is hosting an auction of Modern and contemporary art, its first in the region since the house named Masumi Shinohara as its new managing director for Asia (news we broke on Friday).
Since the launch of Art Basel Hong Kong over a decade ago, interest in the art market has grown throughout Asia, and it is now seen as an integral part of the art ecosystem. While the region is haunted by China’s ongoing economic slowdown and the tense U.S.-China relationship, local markets are developing alongside new art initiatives. This year, we are especially curious about the places that do regularly appear in most art market reports.
India is a key country to watch, even with slower economic growth. Wealthy Singapore merits close attention, too, as arts patrons steadily emerge. Important names in the city-state right now include the new Tanoto Art Foundation, led by trustees Belinda Tanoto and Anderson Tanoto, with Xiaoyu Weng as its artistic director. The nonprofit focuses on contemporary art in Southeast Asia and hosted a symposium in the city yesterday.
Meanwhile, Carmen Yixuan Li, Pure Yichun Chen, and other donors have launched the SAM Art SG Fund, which allocates S$150,000 (about $109,000) to acquire works at the fair for the Singapore Art Museum. Local strategist Zong Han and Shuyin Yang, Art SG’s director, will provide advisory support.
Thailand is generating a lot of excitement, as well. The Bangkok Art Biennale ran last year, the Kunsthalle Bangkok opened earlier in the year, and December saw the start of Access Bangkok Art Fair, a modest fair featuring 30 galleries. All have injected new energy into the art scene of the country, one of the world’s favorite travel destinations. More is on deck this year (see this week’s interview with Adeline Ooi in our The View From section).
Taiwan—the 14th-richest economy in the world, according to Forbes—made headlines throughout 2024 for good and bad reasons, and its stock market was the champion of Asia last year, gaining more than 28 percent. The year concluded with the inaugural Taipei Art Week, the launch of the Fubon Art Museum, and Hong Kong’s Galerie du Monde (rebranded as gdm for its 50th anniversary) opening a Taipei outpost. This year will see the opening of the public New Taipei City Art Museum on April 25. The Taipei Biennial will also return in 2025.
Besides Art Basel Hong Kong in March, regional fairs to watch in the first half of the year include Art Fair Philippines, which will run from February 21 to 23 in Manila, and the sophomore edition of Art OnO in Seoul, running from April 11 to 13. As the political drama in South Korea continues to unfold amid a sluggish economy, the state of its art industry will be a major topic.
The Year of the Snake is sure to be thrilling, and next week’s issue will carry our annual Lunar New Year predictions. Stay tuned.
—Vivienne Chow
Art SG runs January 17 to 19 (with a January 16 preview) at the Marina Bay Sands Expo and Convention Centre, S.E.A. Focus runs January 18 to 26 at Tanjong Pagar Distripark (with a January 17 vernissage), and Sotheby’s Modern and contemporary art auction takes place January 18. |
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Happy New Year! It has only been 2025 for two weeks, but the art world in Asia has been busy. Following the 13th edition of Mumbai Gallery Weekend in India (January 9–12), which featured 37 galleries, it is now Singapore Art Week. Alongside institutional and gallery shows, the Art SG and S.E.A. Focus fairs are running and Sotheby’s is hosting an auction of Modern and contemporary art, its first in the region since the house named Masumi Shinohara as its new managing director for Asia (news we broke on Friday).
Since the launch of Art Basel Hong Kong over a decade ago, interest in the art market has grown throughout Asia, and it is now seen as an integral part of the art ecosystem. While the region is haunted by China’s ongoing economic slowdown and the tense U.S.-China relationship, local markets are developing alongside new art initiatives. This year, we are especially curious about the places that do regularly appear in most art market reports.
India is a key country to watch, even with slower economic growth. Wealthy Singapore merits close attention, too, as arts patrons steadily emerge. Important names in the city-state right now include the new Tanoto Art Foundation, led by trustees Belinda Tanoto and Anderson Tanoto, with Xiaoyu Weng as its artistic director. The nonprofit focuses on contemporary art in Southeast Asia and hosted a symposium in the city yesterday.
Meanwhile, Carmen Yixuan Li, Pure Yichun Chen, and other donors have launched the SAM Art SG Fund, which allocates S$150,000 (about $109,000) to acquire works at the fair for the Singapore Art Museum. Local strategist Zong Han and Shuyin Yang, Art SG’s director, will provide advisory support.
Thailand is generating a lot of excitement, as well. The Bangkok Art Biennale ran last year, the Kunsthalle Bangkok opened earlier in the year, and December saw the start of Access Bangkok Art Fair, a modest fair featuring 30 galleries. All have injected new energy into the art scene of the country, one of the world’s favorite travel destinations. More is on deck this year (see this week’s interview with Adeline Ooi in our The View From section).
Taiwan—the 14th-richest economy in the world, according to Forbes—made headlines throughout 2024 for good and bad reasons, and its stock market was the champion of Asia last year, gaining more than 28 percent. The year concluded with the inaugural Taipei Art Week, the launch of the Fubon Art Museum, and Hong Kong’s Galerie du Monde (rebranded as gdm for its 50th anniversary) opening a Taipei outpost. This year will see the opening of the public New Taipei City Art Museum on April 25. The Taipei Biennial will also return in 2025.
Besides Art Basel Hong Kong in March, regional fairs to watch in the first half of the year include Art Fair Philippines, which will run from February 21 to 23 in Manila, and the sophomore edition of Art OnO in Seoul, running from April 11 to 13. As the political drama in South Korea continues to unfold amid a sluggish economy, the state of its art industry will be a major topic.
The Year of the Snake is sure to be thrilling, and next week’s issue will carry our annual Lunar New Year predictions. Stay tuned.
—Vivienne Chow
Art SG runs January 17 to 19 (with a January 16 preview) at the Marina Bay Sands Expo and Convention Centre, S.E.A. Focus runs January 18 to 26 at Tanjong Pagar Distripark (with a January 17 vernissage), and Sotheby’s Modern and contemporary art auction takes place January 18. |
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The View From...
Adeline Ooi |
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The former Asia chief of Art Basel explains why a singular concept of “Asia” no longer applies in this excerpt of an interview .
Before the pandemic, there was a prevailing sentiment that if you didn’t show up in Hong Kong, you hadn’t truly shown up in Asia. Hong Kong was widely regarded as the gateway to the region—the place to establish a base before branching out. At the time, discussions about “Asia” often meant focusing on China, then in the throes of an economic boom.
Today, galleries face a broader range of options, allowing for tailored strategies. Where do you position yourself? Which city or demographic aligns best with your program? Is it Hong Kong, Singapore, or Shanghai? Or perhaps Tokyo, Mumbai, or Jakarta? Asia is incredibly complex, with diverse contexts and histories, offering myriad ways to craft a constellation of programs. The idea of a singular “Asia” no longer holds. |
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The View From...
Adeline Ooi |
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Before the pandemic, there was a prevailing sentiment that if you didn’t show up in Hong Kong, you hadn’t truly shown up in Asia. Hong Kong was widely regarded as the gateway to the region—the place to establish a base before branching out. At the time, discussions about “Asia” often meant focusing on China, then in the throes of an economic boom.
Today, galleries face a broader range of options, allowing for tailored strategies. Where do you position yourself? Which city or demographic aligns best with your program? Is it Hong Kong, Singapore, or Shanghai? Or perhaps Tokyo, Mumbai, or Jakarta? Asia is incredibly complex, with diverse contexts and histories, offering myriad ways to craft a constellation of programs. The idea of a singular “Asia” no longer holds. |
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State of Play
The gateway to the pulse of the Asian market |
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Art Fairs
– The Art Central fair announced that its 10th edition, scheduled for March 26–30 at the Central Harbourfront in Hong Kong, will debut Legend, a new sector with works by pioneering artists born before 1970. (Press release) Galleries
– According to a recent report by economist Clare McAndrew, Japan’s art market has seen significant growth over the past five years, outperforming the global industry. While the global art market grew 1 percent from 2019 to 2023, Japan’s grew by 11 percent, to $681 million in total sales. (Artnet News)
– Condon London, a collaborative exhibition series, returns to the city with 49 galleries participating across 22 spaces from January 18 to February 15. Asian galleries in the mix include Hong Kong’s Empty Gallery teaming up with the local Hot Wheels, Shanghai’s Antenna Space with Emalin, and Bangkok’s Nova Contemporary with Project Native Informant. (Artnet News)
Institutions and Biennials
– The New Taipei City Art Museum, the city’s first public art institution, is set to open officially on April 25. Residents can attend a soft opening preview from April 8 to April 13. (Press release)
– M+’s critically acclaimed exhibition “I. M. Pei: Life Is Architecture” will travel to the Power Station of Art in Shanghai and the Qatar Museums Gallery, Al Riwaq this year. (Press release) – The fourth edition of Jaipur Art Week, an initiative of the Public Arts Trust of India aimed at nurturing early-career artists and creatives, will take place from January 27 to February 3. (Artnet News) Auctions
– In 2024, Bonhams recorded its highest auction sales in Hong Kong since opening there in 2007, HK$670 million ($86 million), an 18 percent increase from 2023; private sales grew 68 percent. Its top lot was a 1995 Yayoi Kusama Infinity painting that sold for HK$46.4 million ($6 million). (Press release)
– Chinese artists of all stripes took a beating in 2024, according to data from the Artnet Price Database, columnist Katya Kazakina reported. (Artnet News)
People
– Artist Yos Suprapto canceled a solo show of his work that was set to open at the National Gallery of Indonesia last month after the show’s curator allegedly asked him to remove five of the around 30 pieces slated for display. Those works contained political content, some sources said. (Indonesia Business Post)
– Shafira Huang, an art collector and Instagram influencer, suffered a £10.4 million ($12.7 million) jewelry theft at her mansion in London’s Primrose Hill area. Huang has offered a £1.5 million ($1.83 million) reward for information leading to the arrest of the perpetrator. (Daily Mail)
– South Korean collector Choi Eun-ha has filed a lawsuit in Hong Kong, claiming that a US$920,000 Lee Ufan painting she bought from British art adviser Lawrence Van Hagen is a forgery. The 2014 work was identified as a fake by the auction house. Van Hagen maintains that the piece is real. (South China Morning Post)
– A Chinese appeals court upheld an order for artist Ye Yongqing to pay €650,000 ($670,500) and issue a public apology for plagiarizing Belgian artist Christian Silvain. The ruling concludes a five-year legal battle that began after a Belgian paper noted similarities in their works. (ArtDependence)
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State of Play The gateway to the pulse of the Asian market |
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Art Fairs
– The Art Central fair announced that its 10th edition, scheduled for March 26–30 at the Central Harbourfront in Hong Kong, will debut Legend, a new sector with works by pioneering artists born before 1970. (Press release) Galleries
– According to a recent report by economist Clare McAndrew, Japan’s art market has seen significant growth over the past five years, outperforming the global industry. While the global art market grew 1 percent from 2019 to 2023, Japan’s grew by 11 percent, to $681 million in total sales. (Artnet News)
– Condon London, a collaborative exhibition series, returns to the city with 49 galleries participating across 22 spaces from January 18 to February 15. Asian galleries in the mix include Hong Kong’s Empty Gallery teaming up with the local Hot Wheels, Shanghai’s Antenna Space with Emalin, and Bangkok’s Nova Contemporary with Project Native Informant. (Artnet News)
Institutions and Biennials
– The New Taipei City Art Museum, the city’s first public art institution, is set to open officially on April 25. Residents can attend a soft opening preview from April 8 to April 13. (Press release)
– M+’s critically acclaimed exhibition “I. M. Pei: Life Is Architecture” will travel to the Power Station of Art in Shanghai and the Qatar Museums Gallery, Al Riwaq this year. (Press release) – The fourth edition of Jaipur Art Week, an initiative of the Public Arts Trust of India aimed at nurturing early-career artists and creatives, will take place from January 27 to February 3. (Artnet News) Auctions
– In 2024, Bonhams recorded its highest auction sales in Hong Kong since opening there in 2007, HK$670 million ($86 million), an 18 percent increase from 2023; private sales grew 68 percent. Its top lot was a 1995 Yayoi Kusama Infinity painting that sold for HK$46.4 million ($6 million). (Press release)
– Chinese artists of all stripes took a beating in 2024, according to data from the Artnet Price Database, columnist Katya Kazakina reported. (Artnet News)
People
– Artist Yos Suprapto canceled a solo show of his work that was set to open at the National Gallery of Indonesia last month after the show’s curator allegedly asked him to remove five of the around 30 pieces slated for display. Those works contained political content, some sources said. (Indonesia Business Post)
– Shafira Huang, an art collector and Instagram influencer, suffered a £10.4 million ($12.7 million) jewelry theft at her mansion in London’s Primrose Hill area. Huang has offered a £1.5 million ($1.83 million) reward for information leading to the arrest of the perpetrator. (Daily Mail)
– South Korean collector Choi Eun-ha has filed a lawsuit in Hong Kong, claiming that a US$920,000 Lee Ufan painting she bought from British art adviser Lawrence Van Hagen is a forgery. The 2014 work was identified as a fake by the auction house. Van Hagen maintains that the piece is real. (South China Morning Post)
– A Chinese appeals court upheld an order for artist Ye Yongqing to pay €650,000 ($670,500) and issue a public apology for plagiarizing Belgian artist Christian Silvain. The ruling concludes a five-year legal battle that began after a Belgian paper noted similarities in their works. (ArtDependence)
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Kaifan Wang, One Piece, 2024, oil, oil stick, acrylic on canvas, three parts; 86 3/4 x 177 3/8 x 1 7/8 inches overall. Photo: Hannah Mjølsnes |
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Who: Kaifan Wang (b. 1996, Hohhot, China)
Based in: Berlin
Gallery: GNYP Gallery (Berlin and Antwerp)
Why we care: Born in Hohhot, the capital of Inner Mongolia, China, an area undergoing rapid urban development, Kaifan Wang has taken a nomadic approach in his art practice, making work that reflects the histories of the Chinese diaspora and the enduring narratives of the places he has inhabited, which include Shanghai, Florence, and now Berlin. His migration across these cities weaves together cultural references that find relevance in contemporary contexts.
Wang juxtaposes varied references, creating a discourse that bridges disparate elements in unexpected ways. His technique involves brushstrokes that either follow or resist natural forces, exploring themes of fractured cultural identities and the fluidity of human migration through dynamic gestural marks and mixed media on canvas. His latest work, One Piece, revisits Gustav Klimt’s Beethoven Frieze. Wang draws connections between Klimt’s use of gold leaf, the sandstorms of his childhood, and the gold rush that attracted early Chinese migrants to the United States, presenting gold as a motif for desire and memory.
Wang completed his fine arts education at the Universität der Künste in Berlin in 2022, and has participated in major group exhibitions at venues like the Songwon Art Center in Seoul and Wilhelm Hallen in Berlin. He recently held his first solo exhibition at the Blum Gallery in Los Angeles.
Up next: Wang is currently featured in a group show, “Out of Silence: A Yuz Foundation Collection,” at the Yuz Museum in Shanghai and “The Cloud Catcher,” a group show at Perrotin Shanghai. He will be in a group show titled “Visions of the World” at the Museum Kampa in Prague in February.
—Cathy Fan |
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Kaifan Wang, One Piece, 2024, oil, oil stick, acrylic on canvas, three parts; 86 3/4 x 177 3/8 x 1 7/8 inches overall. Photo: Hannah Mjølsnes |
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Who: Kaifan Wang (b. 1996, Hohhot, China)
Based in: Berlin
Gallery: GNYP Gallery (Berlin and Antwerp)
Why we care: Born in Hohhot, the capital of Inner Mongolia, China, an area undergoing rapid urban development, Kaifan Wang has taken a nomadic approach in his art practice, making work that reflects the histories of the Chinese diaspora and the enduring narratives of the places he has inhabited, which include Shanghai, Florence, and now Berlin. His migration across these cities weaves together cultural references that find relevance in contemporary contexts.
Wang juxtaposes varied references, creating a discourse that bridges disparate elements in unexpected ways. His technique involves brushstrokes that either follow or resist natural forces, exploring themes of fractured cultural identities and the fluidity of human migration through dynamic gestural marks and mixed media on canvas. His latest work, One Piece, revisits Gustav Klimt’s Beethoven Frieze. Wang draws connections between Klimt’s use of gold leaf, the sandstorms of his childhood, and the gold rush that attracted early Chinese migrants to the United States, presenting gold as a motif for desire and memory.
Wang completed his fine arts education at the Universität der Künste in Berlin in 2022, and has participated in major group exhibitions at venues like the Songwon Art Center in Seoul and Wilhelm Hallen in Berlin. He recently held his first solo exhibition at the Blum Gallery in Los Angeles.
Up next: Wang is currently featured in a group show, “Out of Silence: A Yuz Foundation Collection,” at the Yuz Museum in Shanghai and “The Cloud Catcher,” a group show at Perrotin Shanghai. He will be in a group show titled “Visions of the World” at the Museum Kampa in Prague in February.
—Cathy Fan |
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Thanks for joining us for The Asia Pivot. See you next time. |
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Header Image: The skyline of Singapore. Photo: Adobe Stock |
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| Thank you for joining us for The Asia Pivot. See you next time. |
Header Image: The skyline of Singapore. Photo: Adobe Stock |
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This email was sent to cfan@artnet.com by Artnet Worldwide Corporation.
One World Trade Center, 85th Floor, New York, NY, 10007, USA |
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This email was sent to cfan@artnet.com by Artnet Worldwide Corporation.
One World Trade Center, 85th Floor, New York, NY, 10007, USA |
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