A comparatively low number of Asia-based collectors in the 2012 ARTnews top 200 list may indicate that the Asian region still has a lot of potential for art market growth.
On 26 June 2012, ARTnews released their 2012 200 Top Collectors list as well as a list of the top ten collectors in the world. Below we have listed all of the Asian buyers who are leading the region in art patronage and, by extension, art education and research.
Given the attention the Asian collector class has attracted in the past decade, it is perhaps surprising that only thirteen made the list, less than ten percent. Two Asian figures made the top ten: Taiwan’s Pierre Chen and member of the Qatari royal family, Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani. ARTnews did not give specific rankings, nor did they describe the criteria by which they determine their top collectors.
Below we have listed all of the Asian collectors by nationality, as well as the artwork they predominately buy. Visit ARTnews for the full list of the top 200 international collectors.
- Pierre Chen, Taipei, modern and contemporary art
- Frank Huang, Taipei, Chinese porcelain; Impressionist and modern painting
- Halit Cingillioglu, Istanbul, Impressionism; postwar, modern, and contemporary art
- Suna and Inan Kiraç, Istanbul, orientalist painting; Anatolian weights and measures; Kütahya tiles and ceramics
- Soichiro Fukutake, Okayama, Impressionism, contemporary art
- Tatsumi Sato, Hiroshima, contemporary art; primitive art; antique textiles
- Tadashi Yanai, Yamaguchi City, modern and contemporary art
Republic of Korea
- Kim Chang-Il, Cheonan, South Korea, contemporary art
- Budi Tek, Shanghai; Jakarta, Indonesia, international contemporary art, especially Chinese and Western
- Wang Wei and Liu Yiqian, Shanghai, ancient and contemporary Chinese art
- Sheikha Al Mayassa bint Hamad bin Khalifa Al Thani, Doha, modern and contemporary art
The Economist recently polled 2000 wealthy collectors and found that only ten percent listed investment as their primary goal in buying art, whereas seventy-five percent cited “enjoyment”. The report also details the significant social aspect of participating in the art market, from the excitement and camaraderie of auctions and fairs to the psychology of collection booms.
In Asia, the psychology of collecting seems to have a strong societal element. High-profile art marketeers like Budi Tek and Liu Yiqian often build private museums to bolster their status as leading tastemakers, as well as giving back to the public. These institutions also provide the kind of art education typically offered by public museums and art institutions in the West.
Are there any notable Asian collectors that the list might have overlooked? Leave us a comment with your thoughts below.
- Professional “art bubble”: Who is in it and what do they do? – June 2012 – a somewhat tongue-in-cheek narrative that comments on the relationship between art and money
- Museums in the age of the mega-collector: Can public institutions compete? – WSJ Blogs – February 2012 – how the influx of money from billionaire collectors is putting the squeeze on cash-strapped public museums
- Qatar Cézanne purchase points to building of art “museum empire”? – February 2012 – Sheikha al Mayassa’s art buying funnels into one of the Middle East’s most ambitious collecting projects
- Turkish art market: Ignored no longer – CNN – February 2012 – Suna and İnan Kıraç Foundation named as a key player in Turkey
- Habits of 7 top collectors – Wall Street Journal – December 2011 – trends and tips from a few of the world’s top collectors
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