Tang and his family are noted collectors who have gained invaluable inspiration through building their collection. He is particularly interested in 20th-century modern works, from the post-war period to contemporary art. For him, art collecting is a personal journey.

“Follow your heart and perhaps set a goal and budget first if you want to start building your art collection,” he advises.

Where to start

The first step to building a collection is to understand its ultimate objective.

“Every collector may have their objectives to convey for the art collection. For corporate art collections, the target audience and stakeholders might be customers,” says Calvin Hui, co-founder of 3812 Gallery, as well as an art adviser and collector.

Hui advised Pansy Ho on building the MGM Chairman’s collection, which involved the acquisition and curation of art pieces including the nine-metre-long painting Dancing Light by Hsiao Chin that is on permanent display at the MGM Cotai resort in Macau. Chin is a leading figure of Chinese modern abstract art and is also found in 3812’s portfolio.

“We need to understand [collectors’] needs, expectations and preference in terms of taste of artworks. The entire process is a close engagement between the adviser and the corporate team,” says Hui.

Hui usually runs through a strategy, selects pieces and discusses the collection with management.

“We also need to perceive the artwork as an asset and foresee its future growth,” says Hui. Seeing art as an investment is a valid reason to collect it but this often requires professional judgment. Here again, there is no fixed formula.

“It really depends on what the collector likes. For example, a collector might want to grow with contemporary artists and share the experiences with what the artists – who are usually young and developing – convey,” says Hui.

Some seasoned collectors and investors might want to ensure the value of their pieces and the growth potential. Hui usually advises them to dig into 20th century modern artists that have been in the market for a long time and have a record of accomplishment in terms of exhibitions, publications and auctions. “This existing information from the markets is helpful to analyse,” adds Hui.

The good news is that Hong Kong’s art landscape is growing, with a growing interest in collecting home-grown names. “With West Kowloon Cultural District, more platforms are becoming available for both collectors and local artists,” adds Tang. “From traditional art to integration of art and tech, Hong Kong’s art scene has become more charming than ever, and collecting Hong Kong artists’ works is becoming a new trend.”