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.
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.
