HONG KONG.- Investors interested in diversifying their asset portfolio should head for ART HK 08, Hong Kongs largest ever international art fair. The event will be held at the Hong Kong Convention and Exhibition Centre (HKCEC) from the 14 18 May 2008 and is aimed at everyone from first time buyers to serious collectors and those just wanting to browse.
With the work of over 850 artists and a combined value in the region of HK$500,000,000 there are many price points to choose from. The event will house the best of 20th and 21st century art and famous artists such as Picasso, Warhol, Bacon and Hirst will sit alongside the stars of the current Chinese art scene and other emerging artists from around the world, some of whom have never before been shown in Asia.
High-profile works up for sale include Andy Warhols 1962 Avanti Cars from Ben Brown Fine Arts, London worth an estimated HK$29million and a Damien Hirst offered by Seomi & Tuus, Seoul. There will also be a portrait of Bruce Lee by Yan Pei Ming from Max Lang Gallery, New York for HK$9 million and plenty of more affordable works including photography from Zhou Kun starting at HK$11,250 from Red Gate Gallery, Beijing.
Magnus Renfrew, Fair Director comments: What you invest in says as much about you as any other purchasing decision. When investors look beyond stocks, shares and property they often develop a passion for sexier lifestyle led investments such as art or wine. These can prove to be good options to ensure a diversified portfolio especially in times of market uncertainty. In fact recent global auctions have shown that art prices have risen in comparison to other commodities and equities that have taken a beating in some markets.