Here is the scorecard for the recent contemporary art auctions around the world: New York, $240 million; London, $229 million; Hong Kong, $67 million; Tokyo, $1.1 million. How can these numbers be possible?
Japan, the world's second-biggest economy, enjoying its longest economic expansion in six decades, has been left out of the current art market boom. For art collectors, the message is: Buy now.
Tokyo's overlooked galleries are attracting a new generation of young, wealthy Japanese in their 30s and 40s, unfazed by the asset slump of the 1990s and encouraged by skyrocketing overseas prices for established artists like Takashi Murakami, Yoshitomo Nara and Yayoi Kusama.
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Art Boom? What Art Boom? Collectors Head to Japan - Bloomberg
Does anyone here collect contemporary Japanese art? If you don't, but you've been thinking about it, sounds like now is the time. In a few years, the prices might be too high to afford, like China!