Hong Kong Art Fair opens with global focus

The Hong Kong Art Fair is one of the most important events in the global art calendar according to its organizers.

And for the 2011 event, they've got good ground to stand on considering the economic boom in Asia has seen China overtake the UK as the world's second biggest art market after the US. ART Hong Kong 11 promises to be the biggest yet, with 260 galleries from nearly 40 countries taking part.

Nodding gently in monotonous rhythm, these sculpted heads welcome visitors to the Hong Kong Art Fair.

Art lovers and collectors flock to the Hong Kong Convention Center for the biggest art show in Asia.

As the booming economies of China and India produce more and more collectors, the volume of sales in Asia has multiplied year on year.

China totaled almost 8.3 billion US dollars in gallery and auction sales last year, according to the British Art Market Federation.

That gives the country a 23-percent global market share, overtaking the UK at 22 percent but still lagging behind the US at 34 percent.

Prices here range from just one thousand dollars to more than 30 million dollars, with something to suit every collector's budget.

The styles are just as varied. There are Modern Masters like Pablo Picasso, as well as the latest up-and-coming Chinese contemporary artists.

Now in its fourth year, the fair's director Magnus Renfrew says it's the biggest and best yet, with Hong Kong the perfect destination - an international gateway for art.

Magnus Renfrew, director of ART HK 11, said, "We chose Hong Kong because it has many advantages over other destinations in the region - not the least of which is that there are no taxes on the import and export of art, and English is commonly spoken. The shared history with the West means it is the place where people from Asia and people from the West feel equally at home."

ART HK 11 runs from Thursday until Sunday at the Hong Kong Convention and Exhibition Center.

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