It's difficult to escape news about China in the art market and Asian art in general. Art HK, reportedly, featured 266 galleries from 38 countries which showcased works from 3,500 artists. Both Western and Eastern artists fared well with sales, but The Art Futures award for best emerging artist went to Lee Kit of Hong Kon. Lest the West be forgotten, next year, the fair will be re-branded as Art Basel Hong Kong. Chinese customs authorities arrested employees of Integrated Fine Art Solutions (IFAS) for undervaluing artworks shipped from Hong Kong to the mainland. While Art HK shows top-dollar artworks, next week, Affordable Art Beijing (AAB) makes acquisitions accessible to a broader range of collectors. In the meantime, the art market in India showed continued and accelerated growth.
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