Art Fair Report: Brick by BRIC
By ALEX YIU
Installation view of HAEGUE YANG’s Contingent Spheres, 2020-24, at Art Basel Hong Kong Encounters 2024. Photo by Sebastiano Pellion di Persano. Courtesy Kukje Gallery, Seoul/Busan.
The Art Basel and UBS Global Art Market Report 2024 found that global sales topped USD 65 billion in 2023 while, year-on-year, transactions had fallen by four percent. The report also found that despite economic troubles China replaced the United Kingdom as the second-largest art market with 19 percent of the global share, behind the United States at 42 percent.
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