Art Basel has continents covered with ART HK buy-out – press release

CONTEMPORARY ART FAIRS MARKET WATCH

MCH Group, the company responsible that owns two of the world’s biggest fairs, Art Basel and Art Basel Miami Beach, has officially confirmed its purchase of ART HK – Hong Kong International Art Fair. This year’s bumper edition will go ahead in May as planned, but in 2012 the fair will run in February with Magnus Renfrew still at the helm.

ART HK 2010.

ART HK 2010.

We have copied the press release, sent out on 6 May 2011, below:

MCH GROUP BUYS A MAJORITY STAKE IN ASIAN ART FAIRS, CONFIRMING ART HK’S POSITION AS THE LEADING ART SHOW IN ASIA


Asian Art Fairs Ltd is delighted to announce a major new development for ART HK – Hong Kong International Art Fair. MCH Swiss Exhibition ( Basel ) Ltd., an MCH Group company and organiser of Art Basel and Art Basel Miami Beach, has signed a purchase agreement with Asian Art Fairs Ltd., the owners of ART HK. As of 1 July 2011, MCH Group will take a majority ownership stake in Asian Art Fairs Ltd.


Following ART HK 11 (26-29 May, 2011) next year’s edition will take place from February 2 to 5 2012, so that its timing fits better with the dates of Art Basel and Art Basel Miami Beach. Next year’s edition will remain under the show’s current ART HK name, with Magnus Renfrew remaining as its director.


In the mid-term, ART HK is to be integrated into the Art Basel brand as the third platform for this leading international art show. Further details about the 2012 show and the future editions under the Art Basel brand will be announced as they are decided.


“ART HK has established itself as the leading art show in Asia , having grown considerably over the past four years. We are immensely proud of our achievements that are acknowledged by this successful deal. Art Basel will bring its unrivalled experience of running the two most important art shows worldwide to our existing expertise and know-how in Hong Kong ” explains Tim Etchells, Majority Stakeholder and Co-founder of Asian Art Fairs Ltd.


“By adding this new art fair, we will be further strengthening our internationally leading position in this segment”, explains René Kamm, CEO of the MCH Group. “As the organiser of Art Basel and Art Basel Miami Beach – the two most important art shows worldwide – we have every interest in a strong presence in Asia . With our acquisition of Asian Art Fairs Limited and ART HK – Hong Kong International Art Fair, we will be able to build on the know-how while, at the same time, channelling our own extensive expertise in the art world.”


ART HK – Hong Kong International Art Fair


Since starting in 2008, ART HK has emerged as the leading art fair in Asia , attracting a rich mix of international galleries, collectors, curators and museum directors. Recognized as the gateway between Asia and the West, Hong Kong is unparalleled as a location for a major destination art fair in the region. This year’s ART HK will take place from May 26 to 29, 2011 and will present 260 galleries from 38 countries, including many influential galleries from all over the world.


Art Basel and Art Basel Miami Beach


The world’s premier international art show for Modern and contemporary works, Art Basel features nearly 300 leading galleries from North America, Latin America, Europe, Asia and Africa . More than 2,500 artists, ranging from the great masters of Modern art to the latest generation of emerging stars, are represented in the show’s multiple sectors. From June 15 to 19, 2011, the 42nd edition of Art Basel takes place featuring the highest-quality paintings, sculptures, drawings, installations, photographs, video and editioned works.


Art Basel Miami Beach will celebrate its 10th anniversary in December 2011. The show made its debut in December 2002 and was quickly named as the most important art show in the Americas . As the sister event of Art Basel, Art Basel Miami Beach combines an international selection of more than 250 leading galleries with an exciting program of special exhibitions and events.

KN

Related Topics: art fairs, market watch, business of art

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Art Basel has continents covered with ART HK buy-out – press release — 1 Comment

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