The Collector | Is this the end of physical art galleries in Hong Kong, not only deserted but plagued by high rents?

Months of protests followed by the coronavirus outbreak have dealt a blow to Hong Kong galleries

Despite already being weighed down by crippling rents, most owners believe galleries will survive

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Gallerist Pascal de Sarthe. Photo: Xiaomei Chen

Enid Tsui

Published: 8:00am, 3 Mar 2020Updated: 8:00am, 3 Mar 2020

“Are galleries, as a business model, obsolete in this environment?” French art dealer Pascal de Sarthe asked last summer. He was talking about galleries in Beijing, soon after his gallery in the Caochangdi art district was forced out by redevelopers. Pace had also just closed its gallery in the Chinese capital, citing difficult business conditions. Fast forward nine months and we can’t help but wonder if the same question should be asked of Hong Kong galleries, which are not only deserted but plagued by exorbitant rents.

Gallery closures in Beijing and the cancellation of Art Stage Singapore last year seemed to consolidate Hong Kong’s position as the region’s primary art hub. During last year’s Art Basel Hong Kong, Lévy Gorvy became the latest high-end international dealer to open a gallery in Central, the priciest part of town. Within months, however, its expansive street-level frontage was frequently shuttered because the area in front of the gallery was often the site of violent skirmishes between protesters and riot police.

Then, in the days leading up to Lunar New Year, it suddenly went completely quiet. With the coronavirus outbreak, “nobody is in the mood to buy art”, says Li Danqing, senior director, Asia, at Lévy Gorvy.

Travel restrictions and raw fear also mean many collectors are giving Hong Kong a miss.

Li Danqing, of Lévy Gorvy. Photo: Yuan Yuan

Nine months of business disruption is a long time. Going forward, will galleries stay in Central? Will they stay in Hong Kong, in fact? Do galleries feel they need to maintain a physical space at all?

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