Cracking out niche market that seems to be reserved, distant and difficult; not to mention when particular word ‘Art’ collides inside it, it could be over blank page for ages. But why are we getting so stuck? Art could be treated like properties we own, the value is not solely exclusive – it’s workable. We can no longer view art in perspective of untouchable; buy it expensively, and display it like we’re ultra rich millionaires who never think about the return of investment. However, no matter how capable we are financially, it’s not a sin to still reckon about fresh investing — and if we do know that art collections could be measured as real investment, it should be beyond tempting after all.
Macey & Sons and Art Futures Group are two trustable names in Hong Kong, call them as art dealers but they cope more than just selling and buying processes; or whatever we assume about both of them, they’re simply the right house to rely on when we decide to invest in art. And the two art investment houses are now under the same roof; as Macey & Sons Auctioneers & Valuers Ltd acquires Art Futures Group in cash deal.
Known to exist in Hong Kong, Singapore and New York; Macey & Sons particularly believes to offer a suite of services unique to the International Hong Kong market. Handled by dedicated professionals, provisions are offered in a frame of comprehensive services for art investors in Hong Kong; specialising in Art Valuations, Auctioneering services and Private sales including but not limited to fine art, classic watches and clocks, jewellery and diamonds. While for Art Futures Group of which its offices spread across Asia Pacific, including Hong Kong as the Headquarter plus Beijing and Singapore as the Brokerage offices, the company provides investors with unparalleled access to Asia’s largest art markets and trading hubs.
If art is often seen as a standing valuation, which is owned or bought for egotistical collection without further exploration of how to monetize it; perhaps such perception should be diminished as the art itself has been proven to augment realistically. Let’s say in Greater China where over the past few years the art market has grown steadily, from US$ 5 billion in 2008 to US$ 12,9 billion in 2018 (UBS 2019, Art Market Report); mirrored and equalised in real practice as dealer sales have experienced a stable increase by 7% year on year in 2018. Globally, the pro side towards art market is supported by the fact that global art sales reached US$ 63.7 billion in 2017 (12% surge from 2016) – calculated by art economist Clare McAndrew, also measured as a striking turnaround after two declining years in a row (Enid Tsui, South China Morning Post, 2018).
Such a trend that firms Macey & Sons and Art Futures Group to merge, despite recognising a logical frame that profitable art market is usually affected by dominating involvement of the ultra wealthy ones, but still the industry could sustain pretty well. On both companies’ deal, Jonathan Macey – Macey & Sons’ Chairman and Founder emphasised “This is a transformational deal for both of these businesses at an immensely important time in the art market in Hong Kong and in Asia. AFG has a proven business and second to none back office systems, but the business as a whole and the opportunity in the market is really what attracts us.”
“The AFG also has a fantastic base of collectors and buyers and we intend to open up new opportunities for them with the diversity of our product range. AFG’s clients have only been offered a narrow range of art hitherto – we are able now to offer them our expansive scope and the opportunity to diversify their portfolios.”
Said to be multimillion Hong Kong dollar deal, the collaboration of both companies as one unity will establish one of the largest HK-based art dealers and becomes a springboard for transformational expansion during crucial time for art market in Hong Kong.