Art Basel organizers buy Asian art fair
The Miami Herald The company that owns and organizes the Art Basel fairs in Basel, Switzerland and Miami Beach are expanding into Asia.
MCH Swiss Exhibition (Basel) Ltd., has signed a purchase agreement with Asian Art Fairs Ltd, the owners of ART HK – Hong Kong International Art Fair. As of July, MCH Group will take a majority ownership stake in Asian Art Fairs Ltd.
The Asian art markets have heated up as China’s global economic role has exploded, and a move into Asia is a logical expansion step for Art Basel.
“As you know, Art Basel has been actively interested in the Asian art market for more than 10 years, with ever-increasing contact to Asian collectors, galleries and artists,’’ co-directors Annette Schönholzer and Marc Spiegler wrote in an email release.
“Not only the directors but also the selection committees have frequently travelled to explore the many Asian art scenes, and thus we have had a rising number of Asian galleries participating in our shows over the last decade.’’
The Hong Kong show will retain its current name for the 2012 year but will move from its current late-May time slot to early February, staggering the show between Art Basel’s June fair in Switzerland and its December show in Miami beach. In future years organizers plan to rebrand the Asian show with the Art Basel name.
Link to Miami Herald Article
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