At Art Basel Hong Kong, Blue-Chips Report Flurry of 7-Figure Deals, While Others Lament ‘Slower Than Usual’ Sales

Major galleries reported significant seven-figure sales on the opening day of Art Basel Hong Kong. Hauser & Wirth sold works by Louise Bourgeois and George Condo for millions, while David Zwirner sold paintings by Liu Ye and Marlene Dumas for $3.8 million each. Pace Gallery's CEO noted a renewed energy, and other blue-chip dealers like White Cube and Lehman Maupin also reported high-value transactions, particularly with Asian collectors and institutions.

The Asian Market Carries Art Basel Hong Kong

Le marché asiatique porte Art Basel Hong Kong

Art Basel Hong Kong 2026 concluded with strong attendance and significant sales, demonstrating the fair's central role in the Asian art market. The event attracted over 91,000 visitors and featured 240 galleries, with a strong presence from the Asia-Pacific region, Europe, and the United States. Major international galleries like Gagosian, Hauser & Wirth, and David Zwirner reported multimillion-dollar sales of works by artists such as Louise Bourgeois, Liu Ye, and Marlene Dumas, alongside notable transactions for works by Tracey Emin and Antony Gormley.

Isa Genzken at David Zwirner

David Zwirner’s New York gallery is hosting "VACATION," a solo exhibition by the influential German artist Isa Genzken. Curated by Ebony L. Haynes, the show features a series of new works that continue Genzken’s career-long exploration of urban architecture, consumer culture, and the complexities of modern life. The presentation is supported by Galerie Daniel Buchholz, the artist's long-time representative in Cologne.

Luc Tuymans at David Zwirner

Luc Tuymans at David Zwirner

Belgian painter Luc Tuymans has opened a new solo exhibition, "The Fruit Basket," at David Zwirner's Los Angeles gallery. The show, running from February 24 to April 4, 2026, presents a series of new paintings by the influential artist, continuing his decades-long exploration of the medium.

Comment | The market grew in 2025 but ‘interest in art is waning’

The global art market saw a 4% growth in 2025 according to the latest Art Basel and UBS Art Market Report, yet the industry remains on edge. Despite the headline increase, the report reveals a sharp decline in the average number of buyers per gallery—reaching its lowest level since 2021—and rising operational costs for shipping and logistics. Protectionist trade policies and geopolitical instability, particularly escalating conflicts in the Middle East affecting oil prices, continue to strain the contemporary sector.

Strong sales and cross-market demand define Art Basel Hong Kong opening

Art Basel Hong Kong opened with robust sales and high energy, signaling a strong recovery for the Asia-Pacific art market. Blue-chip galleries reported several seven-figure transactions early on, including a $4 million Picasso at Bastian and a $3.8 million Liu Ye painting at David Zwirner. The fair's debut of the digital-focused 'Zero 10' initiative and a significant presence of regional collectors underscored a diverse appetite for both postwar masters and contemporary digital works.

Walter Price at David Zwirner

Artist Walter Price is presenting a solo exhibition titled "Pearl Lines" at David Zwirner’s Hong Kong gallery. Running from March 24 through May 9, 2026, the show features a new body of work that continues Price’s exploration of the boundaries between figuration and abstraction through his signature use of vibrant color and psychological depth.

Raymond Saunders at David Zwirner

The David Zwirner gallery in Los Angeles is presenting "Raymond Saunders: Notes from LA," a solo exhibition of the late artist's work. The show, curated by Ebony L. Haynes, runs from February 24 to April 25, 2026, and features works courtesy of the artist's estate.

'Steven Shearer' at David Zwirner, London, United Kingdom on From 5 Jun 2026

Canadian artist Steven Shearer will present a major exhibition of new figurative oil paintings, drawings, and significant loans at David Zwirner’s London gallery in June 2026. The showcase marks Shearer’s first solo presentation in the city since 2007, highlighting his unique ability to blend canonical art history with contemporary subcultures. His work frequently explores classical subjects like the artist’s studio and the Rückenfigur through a modern, often visceral lens.