ASIA HONG KONG MARKET WATCH Hong Kong now lays claim to being the third largest art auction market in the world, a development much trumpeted by auction houses and fair organisers. A quieter but no less significant change is happening in the Asian gallery sales market.
In May 2008, New York based Sundaram Tagore Gallery opened its third gallery in Hong Kong following its launch in Beverley Hills last month. It is the latest in a line of Asia-focussed galleries to expand its franchise around the world. Established in 2000, the gallerist Sundaram Tagore was profiled by Forbes as “India’s Art Ambassador” and he says his eponymous gallery group is “devoted to examining the exchange of ideas between Western and non-Western cultures”.
In contrast the Opera Gallery chain was spawned in Asia, first opening its doors in Singapore in 1994 at the initiative of Gilles Dyan. Today, the Opera Gallery is present in many of the world’s art capitals: Paris ( since 1994), New York (2000), Miami (2003), Hong Kong (2004) and London (2005) with galleries to open in another five cities before 2009.
Osage is a dynamic international gallery group that was established in 2004 and now has exhibition spaces in Hong Kong, Beijing, Shanghai and Singapore. Unlike Sundaram Tagore and Opera which bring international artists to Asia and promote Asian artists around the world, Osage is dedicated specifically to the exhibition, promotion and development of contemporary Asian artists, art and ideas.
Other galleries like Grosvenor Vadehra are establishing commercial links between east and west by developing joint venture style relationships. Grosvenor Vadehra is a collaboration between the Grosvenor Gallery, London, and the Vadehra Art Gallery, New Delhi for the promotion of international art within India, and Indian art within the UK.
Source: Artradar Links: www.sundaramtagore.com www.osagegallery.com www.operagallery.com
For more on globalisation of dealers http://artradarjournal.com/2008/07/01/new-york-dealers-pacewildenstein-james-cohan-open-in-china-july-august-2008/