{"id":299078,"date":"2025-10-13T05:04:13","date_gmt":"2025-10-13T05:04:13","guid":{"rendered":"https:\/\/www.europesays.com\/us\/299078\/"},"modified":"2025-10-13T05:04:13","modified_gmt":"2025-10-13T05:04:13","slug":"2-mega-galleries-to-close-hong-kong-branches-as-the-citys-art-market-loses-ground","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/299078\/","title":{"rendered":"2 \u2018mega galleries\u2019 to close Hong Kong branches as the city\u2019s art market loses ground"},"content":{"rendered":"<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Two of the world\u2019s biggest art galleries have announced the closure of their respective Hong Kong outposts as major players reassess their global footprint amid a multi-year slump in the market.<\/p>\n<p>Pace Gallery, which represents artists such as <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/magazines\/post-magazine\/arts-music\/article\/3249861\/japanese-artist-yoshitomo-nara-his-arts-meaning-and-chasing-carefree-freedom-childhood?module=inline&amp;pgtype=article?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\">Yoshitomo Nara<\/a>, David Hockney and the estates of Agnes Martin and Mark Rothko, will close its space in H Queen\u2019s, in Central, after seven years, following the end of its final exhibition by Cuban artist Alejandro Pi\u00f1eiro Bello on October 18.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">On the other side of the harbour, Perrotin moved out of its gallery at K11 Atelier Victoria Dockside on October 1 after six years in the space.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">Both companies say they will maintain an office in Hong Kong and relaunch a gallery in the city in the future, but have left the timing open-ended.<\/p>\n<p datatype=\"p\" data-qa=\"Component-Component\" class=\"e8zc9q40 css-1c6uqr6 ec74h0k1\">The global art market has suffered a multi-year slowdown that began in 2022. In 2024, it experienced a 12 per cent fall, according to the most recent Art Basel and UBS Art Market Report.<\/p>\n<p><img decoding=\"async\" alt=\"Pace Gallery has called H Queen\u2019s in Hong Kong\u2019s Central neighbourhood home for seven years. Photo: David Wong\" data-qa=\"BaseImage-handleRenderImage-StyledImage\" class=\"e1gf69pb2 css-6ikqhs e445x7d0\" loading=\"lazy\" src=\"https:\/\/www.europesays.com\/us\/wp-content\/uploads\/2025\/10\/4938152c-cdf4-4f51-bdeb-9d6b36d27125_edb719ea.jpg\" title=\"Pace Gallery has called H Queen\u2019s in Hong Kong\u2019s Central neighbourhood home for seven years. Photo: David Wong\"\/>Pace Gallery has called H Queen\u2019s in Hong Kong\u2019s Central neighbourhood home for seven years. Photo: David WongIn Hong Kong, the impact is most obvious in the auction market, where transactions hit an <a target=\"_self\" class=\"e1yy41x40 ef9u0v01 css-1ankfgb ecgc78b0\" href=\"https:\/\/www.scmp.com\/lifestyle\/arts\/article\/3327393\/hong-kong-autumn-2025-art-auctions-see-lowest-combined-turnover-8-years?module=inline&amp;pgtype=article\" title=\"\" data-qa=\"BaseLink-renderAnchor-StyledAnchor\" rel=\"noopener\">eight-year low<\/a> this autumn.<\/p>\n","protected":false},"excerpt":{"rendered":"Two of the world\u2019s biggest art galleries have announced the closure of their respective Hong Kong outposts as&hellip;\n","protected":false},"author":3,"featured_media":299079,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32],"tags":[1657,152338,9530,648,1032,10891,74,22165,149151,1033,152339,171,152336,152333,152337,8464,152329,152330,152328,152340,152334,152335,152331,152332,152341,67,132,68],"class_list":{"0":"post-299078","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-arts-and-design","8":"tag-art-basel","9":"tag-art-in-hong-kong-portrait-of-a-city-in-flux","10":"tag-art-market","11":"tag-arts","12":"tag-arts-and-design","13":"tag-central","14":"tag-china","15":"tag-chinese","16":"tag-david-zwirner","17":"tag-design","18":"tag-emmanuel-perrotin","19":"tag-entertainment","20":"tag-evelyn-lin","21":"tag-findart-hk","22":"tag-h-queens","23":"tag-hong-kong","24":"tag-hong-kong-art","25":"tag-hong-kong-art-galleries","26":"tag-hong-kong-art-market","27":"tag-k11-atelier-victoria-dockside","28":"tag-marc-glimcher","29":"tag-national-security-law","30":"tag-pace-gallery","31":"tag-perrotin","32":"tag-tang-contemporary-art","33":"tag-united-states","34":"tag-unitedstates","35":"tag-us"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/299078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=299078"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/299078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/299079"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=299078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=299078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=299078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}