Asian Contemporary Art Fair to Launch its Second Year in New York
Source:Redbox Review Date: 2008-11-04 Size:
The economic downturn has caused a ripple effect across the art market and art fairs have felt the crunch with the recent Frieze Art Fair and FAIC reporting slower sales.

 

The second annual Asian Contemporary Art Fair opens on Thursday in New York. Many are hoping this fair will act as a harbinger for better times to come within the contemporary Asian art market, particularly following lackluster auction results in both New York and Hong Kong. The fair’s exhibitors hail from Korea, India, the United States and China and include Beijing galleries Red Gate Gallery, Chinese Contemporary, Art Seasons, ChinaBlue and T-Space.

The economic downturn has caused a ripple effect across the art market and art fairs have felt the crunch with the recent Frieze Art Fair and FAIC reporting slower sales. December’s Art Basel Miami Beach will similarly act as an important gauge for the art market, but, given the current economic climate, it is no surprise that a number of galleries have already withdrawn from Miami’s many satellite art fairs. The inaugural artASIA has witnessed a spate of withdrawals following slow economic activity this fall.

Prior to Miami, Christie’s will host its Fall sale of contemporary Asian art in Hong Kong on November 30th.

[Editor] Mark Lee

    Artintern