ARTFEED — Contemporary Art Intelligence

Art Market Updates and Institutional Developments Across Asia and Beyond

market-auction · 2026-03-25

Art Basel Hong Kong concluded with significant sales despite a cautious market environment. Notable transactions included Pablo Picasso's 1964 work 'Le peintre et son modèle' selling for around $4 million at Bastian, a 2006 painting by Liu Ye fetching $3.8 million at David Zwirner, and Louise Bourgeois's 2008 piece 'À Baudelaire (#1)' placed for $2.95 million by Hauser and Wirth. The fair also saw gallery expansions, with Krista Kim joining Hong Kong's Ora-Ora and Galerie Jocelyn Wolff now representing Shanghai artist Yunyao Zhang. In institutional news, the Sydney Biennale faces sponsor withdrawals following controversial remarks at an opening event, while Buxton Contemporary in Melbourne will host a major exhibition on Chinese conceptual art from May to October. The Cheng-Lan Foundation launched a new project space in Hong Kong, and Australia will present its first major Takashi Murakami retrospective in December 2026. Auction houses reported strong results: Christie's achieved $27 million in a South Asian art sale, led by Tyeb Mehta's 1977 painting 'Gesture' at $3.98 million, while Sotheby's totaled $22.1 million with a 100% sell-through rate. Other developments include UCCA Center for Contemporary Art partnering with OneM Contemporary Art Center in Guangzhou, Tate Modern planning a 2027 exhibition focused on ink art from Chinese regions, and Para Site appointing James Taylor-Foster as executive director. Additionally, Hong Kong artist Kasing Lung's character Labubu will appear in a film produced by Pop Mart and Sony Pictures, directed by Paul King.

Key facts

  • Art Basel Hong Kong featured multi-million dollar sales including works by Picasso, Liu Ye, and Bourgeois
  • Christie's South Asian art sale achieved $27 million with a 99% sell-through rate
  • Sotheby's reported a $22.1 million sale with 100% sell-through for South Asian Modern and contemporary art
  • Sydney Biennale sponsors withdrew support following controversial remarks at an opening event
  • Australia will host its first major Takashi Murakami retrospective in December 2026
  • UCCA Center for Contemporary Art partnered with OneM Contemporary Art Center in Guangzhou
  • Tate Modern will stage 'Ink' in 2027, focusing on artists from Chinese regions
  • Hong Kong artist Kasing Lung's character Labubu will appear in a film produced by Pop Mart and Sony Pictures

Entities

Artists

Institutions

Locations

  • Hong Kong
  • Seoul
  • Paris
  • Shanghai
  • Taipei
  • Sydney
  • Melbourne
  • Guangzhou
  • Venice
  • London
  • Mumbai
  • New York
  • Azerbaijan
  • Kazakhstan
  • China
  • Asia
  • Shenzhen
  • Singapore
  • Los Angeles
  • Beijing
  • San Francisco
  • São Paulo
  • United States
  • Europe
  • Belgium
  • Suzhou
  • Bangkok
  • United Kingdom
  • France
  • Middle East
  • Dubai
  • Abu Dhabi
  • Wong Chuk Hang
  • Ginevra
  • Italia
  • Medioriente
  • Cina
  • Giappone
  • Corea
  • Malesia
  • Indonesia
  • Thailandia
  • Kuala Lumpur
  • Manila
  • Venezia
  • Arsenale
  • Berlin
  • Milan
  • Tokyo
  • Kyoto
  • Busan
  • Almaty
  • Vancouver
  • Jakarta
  • Dakar
  • Thailand
  • Korea
  • Japan
  • US
  • Vietnam
  • Mainland China
  • Taiwan
  • Southeast Asia

Sources

Related stories