“Also stoking fears was an article published in The Art Newspaper last month, which reported that dealers were having difficulty securing insurance coverage for shipped artworks. ABHK organizers are working with a local insurance broker to offer coverage, albeit at 20 times the normal rate...
Should the fair be forced to close due to ongoing civil tension in Hong Kong, organizers have committed to refunding 75 percent of galleries’ fees.
As of now, there is no indication that this will be the case, an Art Basel spokesperson said, noting that preparation for the fair has been business as usual.
‘We have recently sent out VIP invitations and are pleased to confirm that VIP registration numbers are currently consistent with previous years and are especially strong from Asia, in particular,’ the representative said. Still, word has been circulating that galleries will host fewer parties and events during the fair to avoid the appearance of the art world sipping champagne while activists fight for freedom.”