Art Basel Hong Kong returns for its sixth edition this week. Featuring 248 leading galleries from 32 countries, the fair showcases a wide range of masterpieces from the early 20th century alongside contemporary works by both established and emerging artists including Andy Warhol, George Condo, Jeff Koons, Frog King and many more.
Merely an hour and a half into Art Basel Hong Kong's private view—a by-invitation-only event attended mostly by collectors—on Tuesday, Willem de Kooning's Untitled XII was sold for US$35 million by Brett Gorvy of Lévy Gorvy Gallery from the renowned collection of Microsoft co-founder, Paul Allen. It is the most expensive work known to have been sold at the Hong Kong fair.