How to build an art collection in Hong Kong: from setting a budget to big names and new trends, experts weigh in on what to know when investing in contemporary artists
- West Kowloon Cultural District Authority chairman Henry Tang, who has a keen interest in 20th-century modern art, sees setting a goal and budget as the first step
- 3812 Gallery co-founder Calvin Hui, adviser to Macau billionaire Pansy Ho on the MGM Chairman’s collection, feels art as an investment is a valid motive for building a collection
Art has become both more accessible and plentiful in Hong Kong, opening the door for many potential patrons to consider starting, and building, a collection.
This is easier said than done. There is an art to art collecting that must be considered. Prospective collectors must get in tune with their own personalities, interests, and insights. Some collectors are more interested in value, seeing art as an investment, while others follow artists, or buy to suit specific spaces. Some are chasing dollars or decoration, others celebrity names, yet for purists aesthetics are all that counts.
Henry Tang, chairman of West Kowloon Cultural District Authority, falls into the latter camp. “I am always fascinated by artists who dare to challenge the status quo in their vision and development of new concepts,” he says.
Tang and his family are noted collectors who have gained invaluable inspiration through building their collection. He is particularly interested in 20th-century modern works, from the post-war period to contemporary art. For him, art collecting is a personal journey.
“Follow your heart and perhaps set a goal and budget first if you want to start building your art collection,” he advises.
Where to start
The first step to building a collection is to understand its ultimate objective.
“Every collector may have their objectives to convey for the art collection. For corporate art collections, the target audience and stakeholders might be customers,” says Calvin Hui, co-founder of 3812 Gallery, as well as an art adviser and collector.
Hui advised Pansy Ho on building the MGM Chairman’s collection, which involved the acquisition and curation of art pieces including the nine-metre-long painting Dancing Light by Hsiao Chin that is on permanent display at the MGM Cotai resort in Macau. Chin is a leading figure of Chinese modern abstract art and is also found in 3812’s portfolio.