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This edition of State of Play, part of Artnet Pro's The Asia Pivot newsletter, reports on multiple developments across Asia's art scene. Highlights include the launch of Art Fairs Pavilion Taipei, a new alternative art fair co-founded by Hong Kong dealers Willem Molesworth and Ysabelle Cheung, with 13 galleries for its inaugural edition. Galleries Antenna Space and Kwai Fung Hin Art Gallery are expanding into Hong Kong and Singapore respectively, while veteran Beijing gallery Long March Space has closed its physical venue. The Taipei Fine Arts Museum announced Taiwan's collateral exhibition at the Venice Biennale, and the Hong Kong Museum of Art named artists for its collateral show. The Asia Society Museum in New York will open a 70th-anniversary exhibition, and the H+ Museum in Suzhou, designed by Tadao Ando, officially opened with two inaugural shows.

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Art world insiders share their predictions for 2026, anticipating a market rebound after a turbulent 2025 marked by gallery closures and tariff announcements. Key developments include the launch of new art fairs by Art Basel and Frieze in Qatar and Abu Dhabi, the return of the Whitney Biennial and Venice Biennale, and a surge in estate-driven sales as the Great Wealth Transfer accelerates. Experts note a revival of interest in Old Masters and classic taste, with collectors returning to bidding and galleries seeing renewed activity.

New Hong Kong fairs offer fresh opportunities for a changing market

Hong Kong Art Week 2026 features several new art fairs offering alternative models to traditional events. ArtHouse Tai Hang, led by former Christie's executive Jacky Ho, displays works across ten locations in a residential neighborhood with a pay-only-if-sold financial model. Check-in, organized by Alex Chan, requires all artworks to be suitcase-sized and includes daily performances. Pavilion, founded by Ysabelle Cheung and Willem Molesworth, presents a boutique, curated alternative to high-pressure fairs.