Hong Kong’s M+ Museum Announces New Art Acquisition Fund – artmarketblog.com

mplus building with csf 1200px Hong Kongs M+ Museum Announces New Art Acquisition Fund   artmarketblog.comThe West Kowloon Cultural District Authority (WKCDA) has announced the launch of a new acquisition fund for Hong Kong’s M+ museum, which is due to be completed in 2017.

Donated by Hong Kong artist and collector Rosamond Brown, the HKD$5 Million Brown Family Annual Acquisition Fund allows the M+ to acquire works from Art Basel in Hong Kong over the next decade, starting in 2014.

This year’s acquisitions include works by the followings artists: Korean/American artist Byron Kim, acquired from James Cohan Gallery; Emirati artist Hassan Sharif, acquired from Gallery Isabelle van den Eynde; Japanese artist Kishio Suga, acquired from Beijing Tokyo Art Projects; and Chinese artist Au Hoi-Lam, acquired from Osage Gallery.

Lars Nittve, Executive Director, M+, said, “This is a gift which will keep giving every year. Being split annually means acquisitions will always be current, and allows us to take advantage of the art fair, offering access to work by artists from all over the world.”

Rosamond Brown, said, “Having lived in Hong Kong for over 50 years, I have experienced first hand the rapid growth of the arts sector. M+ has dramatically changed the cultural landscape, and already provides an essential platform for the local arts community. I’m delighted that our family is able to play a part in building such an important project.”

**Nicholas Forrest is a Sydney/London based art market analyst, art consultant and writer.  He is the founder of the Art Market Blog (artmarketblog.com) which offers independent commentaries as well as research and analysis on the current art market, and has recently been published in Fabrik magazine, Verve magazine, Visual Art Beat magazine, Australian Art Collector magazine, Art & Investment magazine and many others.  Nic has made several radio appearances (both nationally and internationally) as an art market expert and has received press from the likes of the New York Times, Conde Nast Portfolio and Times of London.

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