Art Basel Hong Kong 2025 concluded today, reinforcing the status as Asia’s preeminent art fair while celebrating its dynamic and ever-expanding cultural landscape. This year’s edition brought together 240 leading galleries from 42 countries and territories, drawing an impressive 91,000 visitors over its VIP and public days.
Angelle Siyang-Le, Director of Art Basel Hong Kong, reflected on the fair’s success: “Art Basel Hong Kong 2025 has once again underscored the city’s role as a global cultural nexus. This year’s edition not only presented a compelling and diverse programme but also reaffirmed our commitment to fostering Asia’s flourishing art ecosystem. As we continue to reshape cultural narratives and spark new creative dialogues, we remain dedicated to supporting the future of contemporary art in the region.”
The fair attracted an influential roster of private collectors and institutional patrons from over 70 countries, spanning key art markets such as Hong Kong, Mainland China, Korea, the United States, the United Kingdom, Australia, Taiwan, Singapore, and the Philippines. A host of world-class museums and foundations were also in attendance, cementing Art Basel Hong Kong’s role as a critical meeting point for the global art community. Among them were Asia Art Archive (Hong Kong), Dia Art Foundation (New York), He Art Museum (Foshan), Istanbul Museum of Modern Art, K11 Art Foundation (Hong Kong), LACMA (Los Angeles), Mori Art Museum (Tokyo), Musée Guimet (Paris), Museum of Contemporary Art Australia (Sydney), MAMCO (Geneva), M+ (Hong Kong), National Gallery Singapore, Power Station of Art (Shanghai), Rockbund Art Museum (Shanghai), SFMOMA (San Francisco), Serpentine (London), Sharjah Art Foundation, Solomon R. Guggenheim Museum (New York), Swiss Institute (New York), Tate (London), Tai Kwun (Hong Kong), ICA Boston, Museum MACAN (Jakarta), The New Museum (New York), MOCA (Los Angeles), MoMA (New York), UCCA Center for Contemporary Art (Beijing), Vancouver Art Gallery, and Yuz Museum (Shanghai).
Exhibitors reported robust sales across all sectors, with significant acquisitions of works by Pacita Abad, Michaël Borremans, Louise Bourgeois, Tracey Emin, Zeng Fanzhi, Yayoi Kusama, Betty Muffler, Yu Peng, Christina Quarles, Pinaree Sanpitak, Park Seo-bo, Félix González-Torres, Zhi Wei, Lu Yang, Yibei Zhang, and Stella Zhong. Their works found homes in both prestigious private collections and major institutions.
“The atmosphere at the fair exuded a cautious optimism, marking a noticeable improvement from the previous year,” observed Philip Hoffman, CEO of the Fine Art Group. He highlighted the presence of influential collectors from Taiwan, Hong Kong, and mainland China, a reassuring sign for the market. Works priced between $50,000 and $100,000 saw particularly strong demand. “There remains a core group of 20 to 30 powerhouse collectors capable of shifting the market by five to ten per cent at will,” Hoffman noted, underscoring their enduring influence.
Blue-Chip Sales Drive Momentum at Art Basel Hong Kong 2025
The 2025 edition of Art Basel Hong Kong saw steady demand for blue-chip contemporary and modern works, with strong participation from international collectors. Galleries reported solid sales, reinforcing cautious optimism about the Asian market’s resilience.
David Zwirner recorded multiple seven-figure transactions, including Yayoi Kusama’s INFINITY-NETS [ORUPX] (2013) at $3.5 million and Michaël Borremans’s Bob (2025), acquired for $1.6 million by the Corridor Foundation in Shenzhen. Elizabeth Peyton’s Happy Together (WKW) (2022-2024) fetched $900,000, while works by Oscar Murillo and Rose Wylie each realized $400,000.
Hauser & Wirth saw robust activity, led by the sale of Louise Bourgeois’s Cove (1988, cast 2010) for $2 million to an Asian collection. Zeng Fanzhi’s Untitled (2024) achieved $1.5 million, while Christina Quarles’s Push’m Lil’ Daisies, Make’m Come Up (2020) secured $1.35 million. Avery Singer’s Untitled (2025) was placed with a Hong Kong collection for $575,000, and Rashid Johnson’s Soul Painting “Comedian” (2024) sold for $550,000.
Thaddaeus Ropac continued to place high-caliber works, including Roy Lichtenstein’s Water Lily Pond with Reflections (1992) for $1.5 million and Georg Baselitz’s Luise, Lilo, Franz und Johannes (2010) at €1.2 million. Alex Katz’s Ada by the Sea (1999) found a buyer at $900,000, while Robert Rauschenberg’s Original artwork for First International Festival of Asian Film (1989) went to a Chinese museum for $200,000.
Perrotin saw strong demand, notably selling Takashi Murakami’s Tan Tan Bo: Wormhole (2025) for $1.35 million.
Pace Gallery placed Lee Ufan’s With Winds (1991) at $950,000, Loie Hollowell’s Alizarin Crimson and Cadmium Orange/Red and White Brain (2025) at $450,000, and Li Hei Di’s The Monstrosity Lies Between Us (2025) for $50,000 to a private museum.
White Cube achieved notable results, including Damien Hirst’s Inperturbatus (2023) for $850,000 and Georg Baselitz’s Mano (2019) at €650,000. Tracey Emin’s bronze There Was So Much More of Me (2019) secured £520,000, while two works by Antony Gormley each realized £500,000.
Berry Campbell sold two paintings by Lynne Drexler, with Grass Fugue (1966) achieving $750,000 and Bubbled Pink (1973) selling for $300,000.
Kukje Gallery placed Park Seo-Bo’s Écriture No. 040516 (2004) for a sum between $540,000 and $648,000, while Ha Chong-Hyun’s Conjunction 22-03 (2022) sold in the range of $390,000 to $468,000.
MASSIMODECARLO recorded a price range of $500,000 to $600,000 for Jennifer Guidi’s Seeking Joy (Painted Universe Mandala SF #4E, White Yellow Orange Pink Gradient, Natural Ground) (2021).
Tina Kim Gallery placed Pacita Abad’s Encounters Through the Looking Glass (1996) for $500,000 with a Southeast Asian museum, while Lee ShinJa’s Joining (1981) sold for $200,000 to a Chinese institution.
Kasmin secured $475,000 for Ali Banisadr’s Omen (2025) and $275,000 for Mark Ryden’s The Sentinel (#177) (2024).
Hive Center for Contemporary Art sold Yuxing Huang’s Thunder Scares Heaven and Earth and Dragons and Snakes Hibernate (2025) for $410,000 to a private collector.
Galleria Continua placed two works by Michelangelo Pistoletto for €320,000 each.
Lehmann Maupin sold Cecilia Vicuña’s Fauna chilena (1978/2024) in the range of $350,000 to $400,000 to an Asian collector, while David Salle’s Windows #22 (2024) secured $120,000.
HdM Gallery sold Sanyu’s Woman Drawing (1920s) for $37,710 to a Chinese private collector.
BANK placed Yibei Zhang’s There Is Everything in Our Bonfire (2024) with M+ in Hong Kong for $25,000.
Star Gallery completed sales including Xiang Jing’s The Loyal Dog (2016-2021) for $110,300 and Zhang Wei’s Jingshan Front Street, Beijing (1974) for $11,050 to Tate Modern.
Despite prevailing macroeconomic uncertainties, Art Basel Hong Kong 2025 reaffirmed strong collector appetite, particularly for historically validated works and blue-chip artists. Prices on the secondary market remained measured, but primary market sales indicated continued confidence in established and rising talent across Asia and beyond.
While secondary market prices appeared somewhat restrained compared to previous years, galleries presented strong curations and delivered solid results. Rebecca Wei, founder of Hong Kong-based advisory Wei and Associates, observed that dealers have adapted well to the current climate.
Beijing’s HdM Gallery achieved a complete sell-out of its booth, featuring 20 works on paper by Chinese-French Modernist Sanyu, priced between €25,000 and €45,000 ($27,000–$48,000). Hadrien de Montferrand, the gallery’s founder, noted that in times of economic caution, collectors gravitate toward artists with historical validation, reinforcing a preference for blue-chip stability in an evolving market.
A notable highlight of the fair was the inaugural MGM Discoveries Art Prize, designed to champion emerging talent. The 2025 award was presented on March 28 to Shin Min and her representing gallery, P21 (Seoul), for her provocative installation Ew! There is hair in the food!!, a piece that employs striking symbolism and deeply personal narratives to critique societal conventions and systemic inequities. Selected by an esteemed international jury, Shin Min and P21 received a USD 50,000 cash prize alongside an exhibition opportunity in Macau, fostering cross-cultural artistic exchange and further enriching the region’s creative dialogue.
What The Dealers Had To Say:
“It was our best Art Basel Hong Kong yet!”
Isa Lorenzo, Co-Founder, Silverlens (New York, Manila)
“This year was incredibly successful for us in placing artworks with major museums across Asia. We were thrilled to present a monumental installation of Pacita Abad’s work in the Encounters section, marking a significant reintroduction of her practice to an Asian audience. We are excited to share that a major work from the installation was acquired by a museum in Southeast Asia. We have also premiered Lee Shinja’s fiber works at Art Basel Hong Kong, and I am delighted that her work will be joining the collection of a museum in Greater China.”
Tina Kim, Founder, Tina Kim Gallery (New York)
“Hong Kong is back. Great attendance of Asian collectors, and Western collectors returned including important museum trustees.”
Rosemarie Schwarzwälder, Owner and Director, Galerie nächst St. Stephan Rosemarie Schwarzwälder (Vienna)
“Art Basel Hong Kong brought its trademark buzz and serious collectors, with strong sales and meaningful connections across the global museum world — another great edition for us.”
Glenn Scott Wright, Director and Partner, Victoria Miro (Venice, London)
“Gagosian achieved significant sales, including prominent institutional and private placements across Asia. The energy and enthusiasm throughout the week made clear that Asia remains a vibrant market and Hong Kong remains a great city to do business.”
Nick Simunovic, Senior Director, Asia, Gagosian (Hong Kong, Paris, Athens, Rome, Basel, Geneva, Le Bourget, London, Beverly Hills, New York)
“At Art Basel Hong Kong, the art market story we saw unfold in real time was one of great positivity. Art of the highest calibre was highly sought after by the astute collectors from the region. As a result, we are thrilled to have found wonderful homes among the collections based in Hong Kong and wider Asia for outstanding works. Not only do the dedicated collectors, curators, and artists from the Asia and beyond gather in the city for the art week, we’ve also noticed the presence of the many international institutions and foundations marked by the acquisition of two important works by Lee Bul on opening day.”
Marc Payot, President, Hauser & Wirth (Paris, Hong Kong, Monaco, Menorca, Gstaad, Saint Moritz, Zurich, London, Somerset, Los Angeles, New York)
“For Korean galleries, Art Basel Hong Kong has always been a good opportunity to stand shoulder to shoulder with international galleries. This year, the art market seems to be cautiously rekindling. Meeting collectors, curators, gallerists, and art enthusiasts visiting Hong Kong from all over the world — not only from Asia, but also from the United States and Europe — I saw both the art fair and the city showing off their previous prowess again. Sales were very active, both for our main Galleries and Kabinett presentations, and we certainly look forward to returning to Art Basel Hong Kong next year.”
Hyun-Sook Lee, Founder and Chairwoman, Kukje Gallery (Seoul, Busan)
“This was a thrilling first year at Art Basel Hong Kong! We brought a finely curated selection of women artists from our program and had great success and wonderful conversations. The new collectors we met from Asia are open to learning about our artists and understanding the area of growth in this market.”
Christine Berry, Owner, Berry Campbell Gallery (New York)
“Hong Kong has proved once again that the city is a crucial arts hub for both Asia and the global market at large. We’ve been participating in the fair for 15 years and have been able to see first-hand the ongoing evolution of the city. This year, collectors from the region were particularly engaged, with many younger or even first-time buyers from all over Asia attending the fair. We had success placing works by Cecilia Vicuña, David Salle, Lari Pittman, and our newest artist, Anna Park, among others, all with collectors based in Asia.”
David Maupin, Co-Founder, Lehmann Maupin (Seoul, London, New York)
“Art Basel Hong Kong this year was dynamic, with a noticeable rise in collector attendance from the region. It’s probably the best Art Basel we have had in ten years. The energy felt more optimistic, and we engaged with collectors who were not only enthusiastic but also well-informed. It’s encouraging to see growing interest in our roster of Southeast Asian artists.”
Jasdeep Sandhu, Director, Gajah Gallery (Singapore, Jakarta)
“As globalisation unravels and the art market re-regionalises, Art Basel Hong Kong continues to strengthen its position in the Asia-Pacific region with the arrival of new collectors and players from Vietnam, Thailand, Indonesia, the Philippines, and more. The art market remains a fascinating vantage point for observing global movements. This year, we were able to sell works by conceptual sculptor Francisco Tropa for the first time and received exhibition proposals for both him and Franz Erhard Walther, whose demanding work remains unknown in Asia. The professional audience here demonstrates boundless curiosity.”
Jocelyn Wolff, Founder, Jocelyn Wolff (Romainville)
“Collectors are making confident, informed decisions. We placed important works, including pieces by Milton Avery, Louise Bourgeois, and Nicolas Party, with major Asian and international collections. There was a sense of renewed focus and enthusiasm in how people engaged this year, and that created real momentum across the fair.”
Xavier Hufkens, Founder, Xavier Hufkens (Brussels)
“It was a very successful fair for us — busy and productive from the get-go. A considerable number of the works we brought were placed within the first couple of hours. The level of engagement was exceptional — the best I’ve seen in years — with a steady flow of serious buyers across the region and with works placed in collections in Hong Kong, mainland China, Taiwan, Indonesia, Singapore, and the United States. We are very happy with both the response and the overall energy of Art Basel Hong Kong this year, which has reaffirmed its status as a key event in the global art market.”
John Utterson, Senior Director, C L E A R I N G (New York and Los Angeles)
“We’ve been participating in Art Basel Hong Kong since its inception and were pleased to return this year with the market outlook feeling optimistic. The fair enabled us to deepen relationships with collectors we’ve worked with for some time, as well as build new relationships for the gallery’s program and artists. Collectors were looking closely and being thoughtful about what they buy. We placed several works with major private and institutional collections – we are very happy to see such a strong response to artists that are new to the gallery such as Aaron Gilbert, as well as those whose work we have championed for years like Robert Rauschenberg, Rirkrit Tiravanija, and Anicka Yi.”
Max Falkenstein, Senior Partner, Gladstone Gallery (New York, Brussels, Seoul, Los Angeles)
“Hong Kong’s unique cultural alchemy, and that of Asia’s premier art fair, has reignited with renewed intensity. It remains impressive to witness the audience’s deep engagement with our historical program. Art Basel Hong Kong reasserts once more its singular position, meeting an astutely discerning audience and forging one of the most compelling cultural dialogues in the contemporary art market.”
Kim Rothuys, Director, Galerie Greta Meert (Belgium)
“Art Basel Hong Kong serves as a dynamic platform that brings together art lovers from across the Asia region and internationally, fostering an enriching global conversation and encouraging cross-cultural understanding. Despite the current economic climate, we saw strong sales. However, we observe that these factors influence collectors’ purchasing behaviour, prompting them to focus on acquiring artworks perceived as long-term investments rather than making impulsive purchases.”
Wendy Xu, Managing Director, Asia, White Cube (Hong Kong, Seoul, London, New York, Paris)
“It was a good start to the fair. Admittedly, ahead of the fair we weren’t sure how it would go, but there was positive energy here – a sense of cautious optimism which translated into sales. We saw a bit more of an international attendance compared to the past couple of years too, with Europeans returning.”
Thaddaeus Ropac, Founder, Thaddaeus Ropac (Salzburg, Paris, Paris-Pantin, Seoul, London)
“We enjoyed positive momentum in sales and enriching relationships with new clients, particularly from Southeast Asia. As always, Art Basel Hong Kong has been a time of reunions and building on constructive partnerships.”
Henrietta Tsui-Leung, Founder, Ora-Ora (Hong Kong)
“We are ecstatic about the reception received for Na Mira’s work at the fair. There is an unparalleled support for diasporic Asian artists in the region, and we were thrilled to meet this by presenting an institutionally minded project by the Korean American artist to the many new curators and foundations we met this week.”
Paul Soto, Owner, Park View / Paul Soto (Los Angeles)
“This was the gallery’s first return to Hong Kong since 2019, and this was a big moment. It was great to connect in person with old friends and clients in the region, as of course we have long been very active in Asia. There are some key new museums and galleries that have opened since 2019, most notably M+, and we are thrilled to catch up on that local energy and culture. The fair opened amongst some trepidation in the global market, and so there is not a sense of urgency but rather a more thoughtful approach to collecting artwork. Here is no different—\we remain engaged and enthusiastic about the works we are presenting.”
Tim Blum, Founder, BLUM (Los Angeles, Tokyo, New York)
“Managing to connect with old and new collectors, curators and institutions locally and overseas, Art Basel Hong Kong is instrumental in helping local galleries like ours showcase our program and artists to a wider and more diverse audience.”
Angela Li, Founder, Contemporary by Angela Li (Hong Kong)
“This year marked our first time participating in the fair. The show was exceptionally lively, attracting collectors from various age groups. We connected with many collectors from Hong Kong and successfully facilitated several acquisitions. The works of artist Yu Peng, which we presented in the Insights sector, garnered significant attention from collectors in mainland China, who found the pieces to be both innovative and unique. Additionally, many international collectors actively reached out to us, sharing that they were deeply impressed by the opportunity to see such a curated selection of Yu Peng’s pieces.”
Steven Chen, Founder and Director, Yi Yun (Taipei)
“Sales picked up very quickly on the first preview day, and we placed significant works within the opening hours of the fair. Art Basel Hong Kong continues to be an important platform for us to connect with new clients from the region and beyond.”
Can Yavuz, Founding Director, Ames Yavuz (Singapore, Sydney, London)
“We were thrilled to bring the solo presentation of Takuma Nakahira this year in the Insights sector. We established connections with numerous professional art institutions in Hong Kong and mainland China to introduce his works to them. Some of the modern prints showcased have already been acquired by a prominent Chinese collector, with many others expressing strong interest in acquiring them.”
Lan Chung-Hsuan, Fair Director, Each Modern (Taipei)
“We were excited to return to Art Basel Hong Kong this year with presence in four sectors – Galleries, Encounters (Alison Nguyen), Kabinett (with Cheung Yee), and Film (with Alison Nguyen). We connected with many international institutions and curators on the opening day – their interest in our artists’ works are exceptionally encouraging.”
Lisa Dai, Director, gdm (Hong Kong, Taipei)
“We feel very positive about the show and had multiple re-hangs throughout the week. We met many new collectors, especially those coming from Mainland China.”
Hilda Chan, Co-Director, Gallery Exit (Hong Kong)
“We were thrilled to be at Art Basel Hong Kong for the 2025 edition. The vitality and energy of the fair was exciting to be a part of and contributed to some strong sales in the first few days. We continue to be committed to promoting Australian artists in an international context and the fair allows us a great platform to connect with the Hong Kong art market.”
Victoria Scott, Director of Sales, Roslyn Oxley9 Gallery (Sydney)
“It was great to see a lot of European and American collectors returning, and this year there was a great selection of First Choice VIPs.”
Arman Lam, Director, Hanart TZ Gallery (Hong Kong)
“Art Basel Hong Kong had great momentum this year, with visitors and prominent museum curators showing interest in our presentation from the start. We saw good sales for our artists, placed in prominent collections in the region. Overall, we are very pleased to be back at Art Basel Hong Kong, a fair that continues to deliver both in terms of new collectors as well as the seasoned institutions and patrons.”
Roshini Vadehra, Director, Vadehra Art Gallery (New Delhi)
“We were thrilled to be at Art Basel Hong Kong for the 2025 edition. The vitality and energy of the fair was exciting to be a part of and contributed to some strong sales in the first few days. We continue to be committed to promoting Australian artists in an international context and the fair provides us with a great platform to connect with the Hong Kong art market.”
Victoria Scott, Director of Sales, Roslyn Oxley9 Gallery (Sydney)
“It was an incredible experience debuting in an Asian fair through the Discoveries Sector at Art Basel Hong Kong, where we received a meaningful response to our presentation of Hellen Ascoli’s textile-based work. We are grateful for the new connections, deep conversations, sales, and the opportunity to connect with such an engaged and truly curious audience from across the region and cannot wait to be back!”
Stefan Benchoam, Co-Founder and Director, Anat Ebgi (Los Angeles, New York)
“We were pleased to be back in Hong Kong. It felt like the fair was back to full strength and a new generation of collectors are now beginning to follow our artists. We were especially gratified that Aubrey Levinthal’s presentation of five paintings sold out on day one.”
Molly Ingleby, Director, Ingleby Gallery (Edinburgh)
“As a first-time exhibitor at Art Basel Hong Kong, I am really inspired by the vibrancy of the art scene here, and the knowledge of the collectors. They really connected with our solo booth of works by Katsumi Nakai and were engaged with his whole practice in a keen way.”
Lorenzo Ronchini, Founder, Ronchini Gallery (London)
“Attendance was excellent, and we were able to engage in conversations with collectors from Asia and overseas. Visitors were particularly interested in the Picasso and Warhol works on display at our booth.”
Aeneas Bastian, Director, Bastian (Berlin)
“This being our very first time at Art Basel, we were overwhelmed by the positive response! The experience opened so many doors and we are very satisfied with the focus and attention we and our artist have received. It was very smooth sailing from the run-up to the actual show.”
Mamta Singhania, Founder-Director, Anant Art (New Delhi)
“We met many new young collectors from Hong Kong, Korea, and Taipei and were able to reconnect with long-term collectors from China whom we only get to meet at Art Basel Hong Kong. We had strong interest for all presented artists, both established and new additions to our program.”
Victor Gisler, Founder, Mai 36 Galerie (Zurich)
“We observed great interest in young artist Zhi Wei’s work, with several paintings sold to institutional and private collectors in mainland China on the very first day. This suggests that the Chinese market remains receptive to discovery and risk-taking, reflecting a broader global trend of renewed openness towards emerging artists. The gallery’s reputation for identifying promising talent continues to serve us well, and we’re fortunate to have the ongoing support of our most loyal collectors. I’m also pleased to have connected with potential new clients with whom we anticipate future collaborations. This success offers a hopeful sign during an otherwise volatile period in the art market.”
Daniele Balice, Co-Founder, Balice Hertling (Paris)
“Herald St enjoyed a wonderful return to Art Basel Hong Kong with a booth of new works by British artist Poppy Jones, her first solo presentation in Asia. Jones’ intimate still lives were well received by the regional collector and institutional landscape.”
Nicky Verber, Owner, Herald St (London)
“Art Basel Hong Kong has always been a very successful fair for the gallery. Our program has historically been received well here, and we had fruitful conversations with clients at our booth which led to strong sales. We look forward to returning to the fair next year.”
Pilar Corrias, Owner/Founder, Pilar Corrias (London)
Art Basel Hong Kong 2025 has once again demonstrated the fair’s pivotal role in shaping contemporary art discourse in Asia and beyond. As the city continues to grow as a global cultural powerhouse, this edition reaffirms its standing as a crucial platform for artistic innovation, market development, and institutional engagement.