At Art Basel Hong Kong, Emerging Artists Stole the Show

Released on the heels of this year’s Art Basel Hong Kong and Art Central Hong Kong—two annual fairs that presented 420 galleries from around the globe—the Art Basel and UBS Global Art Market Report reveals that in 2024, global art market sales declined by 12 percent, specifically at the high end. But lest that seem like an ominous statistic for the creative sector, the report also disclosed a rise in the auction sales of works less than $5,000, “while smaller dealers with turnover…