Asian Billionaires May Help Break Art Market’s ‘Vicious Cycle’
- Christie’s will take $250 million of Western art to Hong Kong
- ‘It’s a very strange transitional moment,” says Gorvy
With the bellwether art auctions in New York just days away, Christie’s is looking East to boost its shrinking business.
The company decided against holding an extra, curated auction during the semiannual sales in New York the week of Nov. 13, which it’s done since 2014. Instead it’s putting resources behind an exhibition in Hong Kong later this month that will offer an estimated $250 million of Western art to buyers in one of the industry’s fastest growing regions: Asia.