Through Art Market & You, Art From Us provides you Analysis, Opinion and Factual Reports regarding the current on-goings of the Global Art Market. In this article, we explore the postponing of Affordable Art Fair.
Our Director Divvya Nirula presents reports from the international art market with the view to assist our collectors, investors, and all lovers of art.
The novel Coronavirus (COVID-19) broke out in China in late 2019. With Wuhan as its ‘epicenter’ the virus has spread worldwide. At first shutting down corporations and cities. And subsequently entire countries. Due to this, life as we know it has ceased to exist. People are locked away in their homes. Consequently, the stock market is in limbo. This has brought about a virtual crash in the global economy. Further, governments have imposed country-wide lock downs. Medical professionals are running helter-skelter to contain the pandemic. Right now even the availability of basic necessities is in question. Therefore, the luxury sector of course takes a massive hit.
The team and I have thus compiled a list of rescheduled and cancelled art events. These events are from across the globe. Coronavirus has certainly caused a great deal of damage in the art world.
Affordable Art Fair
Since its inception, this fair is held annually in various cities worldwide. Its venues include New York, London and Brussels. However, this year’s Hong Kong edition has been postponed. Coronavirus was declared a pandemic by WHO in early March. Subsequently, fair authorities have decided the event will take place in August. Indeed, this is to ensure the safety of all participants.
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