Hong Kong – Creative Hub
14 May, 2013
The government has a vision to develop Hong Kong as an international arts and cultural metropolis, and are investing considerable sums of money in the cultural district scheduled for completion by 2015. There are some great opportunities and advantages to investing in fine art in Hong Kong and the country is certainly attracting a lot of valuable artworks.
Auction sales show Hong Kong has grown in importance in comparison to New York and London in recent years. Sotheby’s and Christie’s have achieved record-breaking sales in Hong Kong – the country is certainly attracting a lot of art and with this comes the need to store the art. Many international galleries have also recently set up in Hong Kong.
Hong Kong provides access to three million high net worth individuals in Asia and 60 billionaires in Mainland China. In 2010, the wealth of high net worth individuals in Asia Pacific grew over 12%, overtaking Europe for the first time. The rapidly growing number of wealthy Asian and Chinese collectors has resulted in skyrocketing prices for Chinese contemporary and western art, and has added to the buoyancy of Hong Kong’s art market.
With an influx of fine art to the country there comes the need for companies like Cube Fine Art to offer specialist storage for collectors wishing to preserve the value of their investments. For more information about fine art storage including climate controlled options please get in contact today.