Tuesday, May 15, 2012

Life Imitates Art?

Crisis in Europe is bringing markets to their knees.  Best you add Grexit (Greek Exit from the Euro) to your lexicon because you're going to hear it a lot.  It is messy out there so I'm going to try to keep myself distracted.  Luckily HK Art Fair kicks off this week.  And if life imitates art then I imagine it may be less of a commercial success than similar events held in New York, San Francisco, Miami where the economic mood is a bit more optimistic.  Note we're not hearing of many Art Fairs in Spain, Greece, France recently.     

I understand that the HK Art Fair has earned a reputation as the event where galleries bring their more ostentatious pieces (think Damien Hirst diamond skull).  Unfortunately I just don't see a lot of people in HK looking to binge on expensive pieces of art right now.  I have some gallery friends in town so I hope I'm wrong but judging from the stock market performance, HK consumers are being pretty prudent right now.  Perhaps they should head to Palo Alto instead and target the fresh batch of Facebook billionaires.

Big week for Mark Zuckerberg.  He turned 28 years old yesterday just in time for his  U$100b Facebook IPO.  Happens later this week and his stake alone will be near U$18b - HAPPY BIRTHDAY!  
    

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