Taipei Dangdai’s Results Bode Well for Art Basel Hong Kong and the Asia Pacific Market
Over the weekend booths sold out and absentees expressed enthusiasm to return next year.
Musquiqui Chihying, The Culture Center (2018-2020). Digital print on acrylic glass, zinc alloy, magnifying glass, round light box. 180 cm x 100 cm. Onsite Photo. Courtesy Taipei Dangdai.
Despite the challenges set by quarantine and travel restrictions, over 20,000 visitors came to Taipei World Trade Center from 20 to 22 May to browse the booths of Taipei Dangdai.
While drawing only half the pre-pandemic attendance numbers, sales have been substantial for several of the 62 participating galleries, both in-person and remotely.
A number of galleries sold out their booths and solo presentations including Dio Horia, which sold out works by Maja Djordjevic, and Carl Kostyál, which sold out works by Felix Treadwell, both doing so remotely during the VIP preview, and Taipei Dangdai newcomer Galerie EIGEN + ART.
Another newcomer, Beijing and New York-based INKstudio, sold a monumental hanging scroll by Peng Kang-long for close to $US 340,000 to a VIP within the first thirty minutes of the preview.
Meanwhile, Lin & Lin Gallery sold out its selection of works by Zhao Zhao and Huang Chia-Ning. David Zwirner also raked in around $5 million, selling works by Giorgio Morandi, Josef Albers, Harold Ancart, and Wolfgang Tillmans, among others.
Taipei Dangdai co-founder and co-director Magnus Renfrew pointed to Taiwan's strong, sophisticated and active collector base and 'an increase in activity from younger generation collectors' as driving factors behind these results.
Renfrew told Ocula that the turnout and results for this year's Taipei Dangdai 'bodes well' for other art fairs in the region like Art Basel Hong Kong and Sydney Contemporary.
'The art market in the Asia Pacific and Indo Pacific is reaching a new stage', he said. 'It is the growth market and we are witnessing a sea-change.'
Art Basel Hong Kong launches this week under these conditions from 27 to 29 May at the Hong Kong Convention Center. Similarly to Taipei Dangdai, Art Basel Hong Kong has adopted a hybrid format that includes Satellite Booths and Online Viewing Rooms to address current pandemic-related travel limitations. These limitations have already seen exhibitors reduced, dropping from 242 in 2019 to 130 galleries this year.
Several major galleries that sat out this year due to the pandemic and quarantine-related issues have now confirmed their interest in returning for Taipei Dangdai 2023. Among them are Gagosian, Lehmann Maupin, Pace Gallery, Thaddaeus Ropac Gallery, and White Cube.
Pace Partner and Asia President Leng Lin stated 'once this phase of the pandemic has passed we will be back in Taipei as soon as possible to continue building relationships with this important part of the Asian market.'
Renfrew told Ocula 'I would like this edition to be remembered for the clear demonstration of the strength of the Taiwan art market and for the can-do attitude of the art community in Taipei'.—[O]