An article in the New York Times reports on a recent wave of high-profile announcements from some of the world’s most prominent auction houses in attempt to gain the upper hand in the upcoming fall sale season. Among these announcements is the news that Sotheby’s will partner with eBay while Christie’s will expand with a house in Shanghai and Phillips de Pury will unveil a impressive new space in Mayfair. While these announcements might project an attractive appearance of prosperity and growth, the article contrasts them against the inherent instability of public sales, comparing the auction market to a “Baked Alaska dessert — firm and shiny on the top, but soft in the middle and on the bottom.” (more…)

The Financial Times takes an inside look at the recently opened second location of the Long Museum in Shanghai, operated by Director Wang Wei and her husband Liu Yiqian.  “Our idea initially was to have only one museum,” Wang says, “but the government came to us, encouraged us to open another and gave us a discount on the land, on condition that we make a cultural project. I probably would have been happy with one.” (more…)

Hong Kong’s M+ Museum has received a major gift of 37 contemporary Chinese works from the collection of Guan Yi, one of the nation’s most significant collectors.  The donation includes a number of important works, most notably the entire checklist from the 2003 Venice Biennale Exhibition Canton Express.  “Guan Yi’s generous donation is a marker of the trust and respect that M+, Hong Kong’s future museum for visual culture, already holds within the international artistic community, and signals building global anticipation for the first museum of its kind in Asia – already housing one of the most important collections of Hong Kong and Chinese contemporary art worldwide,” says Michael Lynch, West Kowloon Cultural District Authority’s Chief Executive Officer.  (more…)

Chinese-Indonesian collector Budi Tek is preparing to open his newly established Yuz Museum in Shanghai, showcasing a broad selection of contemporary Asian works from his collection.  “I don’t have any say, it is done by the curator, who will select from the whole of the collection,” Tek says. “We are very careful to collect and exhibit the best works considered historical to Chinese contemporary art.”  Tek says. (more…)

A pre-war bank building in Shanghai has become the home of Bank, an arts exhibition space owned by cultural promoters Mabsociety.  “In the past, we were curating for other institutions and doing some pop-up exhibitions,” founder Mathieu Borysevicz says. “We think of ourselves as ‘post-gallery’.” (more…)

Both Christie’s and Sotheby’s are planning exhibitions of smaller works by Andy Warhol in the Chinese cities of Shanghai and Hong Kong, respectively.  The exhibitions, which are set to open next month, will include a number of the artist’s lower-priced works, intended to encourage private sales.  “In our first online Warhol sale in February, 8 percent of bidders were Chinese, a higher percentage than we have previously seen,” says Amelia Manderscheid, associate specialist on e-commerce for Christie’s. (more…)

Having just opened its doors in October, the Power Station of Art in Shanghai is already making big moves as China’s first state-run contemporary art museum.  The 19th century industrial site was converted by the state into a premier public art center, and is currently hosting a massive exhibition in collaboration with the Centre Pompidou in Paris to show 119 of the Centre’s works.  “It is a prestige object for the city, to have a museum that, at least in scale, can compete with Tate Modern in London or MoMA in New York,” says Jens Hoffmann, co-curator of the Shanghai Biennale. (more…)

The Jing’An International Sculpture Project Biennial opens on today in a public park in Shanghai. It will include pieces by Wim Delvoye, Subodh Gupta, Jaume Plensa and others. Many of the sculptures will be purchased by the city and will be on permanent display. It is being organized by Huang Du, who curated the Chinese pavilions at the 2003 Venice Biennale and the 2004 São Paulo Biennial. (more…)

‬The Economist writes on the political and economic factors behind mainland China-based galleries expanding into Hong Kong: “A presence in Hong Kong makes a lot of sense for us. We can show [our artists’] work to a wider and more diverse audience” says Steven Harris, founder of M97 in Shanghai.

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