With most major asset classes still flatlining after years of pandemic-induced shocks, the art market continues to stand out as the brightest in the investment landscape. Global art sales stood at US$65.1 billion in 2022, up 29 per cent year on year, with US$13.4 billion of that taking place in Greater China. The ultra-rich, moreover, have seen the way the wind is blowing: the median expenditure on art among high-net-worth collectors rose to US$274,000 in 2021, more than doubling the spending of the year before.
This story is from the June 2023 edition of Tatler Hong Kong.
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This story is from the June 2023 edition of Tatler Hong Kong.
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