Art Basel Hong Kong 2025: A Dynamic First Day of Cautious Optimism and Stellar Sales

March 27th, 2025

The 12th edition of Art Basel Hong Kong kicked off on March 28, 2025, with a palpable buzz at the Hong Kong Convention and Exhibition Centre. The fair, featuring 240 galleries from 42 countries, showcased a blend of blue-chip dominance, emerging digital art trends, and a deliberate pace of collecting that defined the day’s energy.. Despite the overall positive atmosphere and the presence of numerous serious collectors from Asia, Europe, and the United States, reports on sales seemed to indicate a divergence in the success of the fair.

The first day revealed a split market:

Sales at the prestigious blue-chip and mega-galleries were brisk, with numerous works already pre-sold or reserved before the official opening at 12 pm. However, dealers at approximately twelve small- and medium-sized galleries reported it was apparent that the majority had only managed to sell a few mid-range or lower-priced pieces by the close of the day.

Blue-Chip Galleries Shine: Mega-galleries like David Zwirner and Hauser & Wirth reported swift sales. Zwirner sold Yayoi Kusama’s INFINITY-NETS [ORUPX] (2013) for 2 million with an Asian collector.

Mid-Tier Patience: Smaller galleries noted slower traction, with dealers describing a “thoughtful” approach from collectors. Bank Gallery’s Mathieu Borysevicz remarked, “People are less urgent to pull the trigger”, highlighting a shift from past years’ frenzy.

Highlights & Trends

1. Digital Art Takes Center Stage

Chinese artist LuYang’s immersive installation Doku the Creator (2025) captivated audiences in the Encounters sector, reflecting the fair’s push toward tech-savvy, younger collectors.

2. Asia-Pacific Focus

Over half the galleries hailed from the region, with Insights and Kabinett sections spotlighting artists like Sopheap Pich (Axel Vervoordt Gallery) and Vũ Dân Tân (10 Chancery Lane).

3. Private Collection Tours & Talks

Exclusive tours, such as the UBS Art Collection visit and Para Site’s artist-led apéro, drew elite collectors, while talks like “In and Out of Tokyo” explored cross-cultural artistic practices.

Collector Sentiment: Selective but Engaged

Fair director Angelle Siyang-Le noted a surge in young, community-driven collectors, while dealers like White Cube’s Wendy Xu observed a trend toward single high-quality purchases over bulk buying.With Art Central running concurrently and citywide exhibitions (e.g., Louise Bourgeois at Hauser & Wirth), Hong Kong’s art week promises continued dynamism—albeit with a measured pace that underscores the market’s evolving maturity. For tickets and programming details, visit Art Basel’s official site or explore partner exhibitions likeDominique Fung’s “Beneath the Golden Canopy” at MASS