Art Basel Hong Kong 2024 Witnesses Strong Comeback Amid Market Cautions

The fair returns to pre-pandemic scale with a diverse array of artworks, as gallerists and collectors navigate a slower market pace.

Art Basel Hong Kong 2024 marks a return to pre-pandemic scale, featuring 242 galleries from around the world, showcasing a broad spectrum of art.
The event attracts a mix of seasoned and new collectors, reflecting a cautious optimism in the art market amid global uncertainties.
High-profile sales include Yayoi Kusama's works for $11 million and Willem de Kooning’s 'Untitled III' for $9 million, though the market shows signs of slowing.
Hong Kong's new national security law raises concerns about the future of artistic freedom, yet the fair remains a vibrant international platform.
The fair's success is seen as a litmus test for Hong Kong's appeal as a global events hub, amid efforts to rejuvenate the city's image post-pandemic.