Kim Chang-Il. Courtesy Arario Museum.
Despite major shifts in the global auction market—including steep drops in volume seen at the recent major spring New York sales at Sotheby’s, Christie’s and Phillips—buyers from China, Japan, and Hong Kong have consistently racked up headlines in recent months with big-ticket purchases.
The surge in buying can be connected, in no small part, to the pointed trend occurring in the region. According to the latest CapGemini World Wealth Report, the Asia-Pacific region recorded robust high net worth individuals (HNWI) and wealth growth rates (9.4 percent and 9.9 percent, respectively). It was the highest across the globe, edging past North America to become the region with the highest HNWI wealth of $17.4 trillion (yes, that’s trillion).
With this in mind, artnet News surveyed experts to see who are the top collectors in the region and what they are buying. Some names will be familiar to readers of the artnet News Index: The World’s Top 100 Art Collectors, but others are new.
You can read the list here