Southeast Asia's prosperous market attracts the attention of a former Sotheby's top executive, who establishes a new consultancy company.
In a significant move for the art world, renowned figure Patti Wong has announced the launch of her independent advisory firm, Patti Wong & Associates, headquartered in Hong Kong. The firm, co-founded with Daryl Wickstrom, has partnered with The Fine Art Group, led by Philip Hoffman, to enhance global capabilities and expand into the Asian market.
Background of Patti Wong & Associates
Patti Wong & Associates was launched in 2023, positioning itself strategically within the Asian market. With Patti Wong bringing decades of experience from her work with Sotheby’s Asia, where she previously served as chairman, the firm is poised to offer bespoke guidance to collectors across various stages of their journey in the international art and luxury markets.
Partnership with The Fine Art Group
The partnership with The Fine Art Group aims to leverage each other’s expertise and networks, providing enhanced access to a trusted global network and reinforcing a strong presence in Asia. This collaboration is built on shared values, strategic insights, and a commitment to integrity, allowing for the delivery of world-class advisory services.
Focus and Expansion in Asia
The firm focuses on providing tailored advisory services to collectors within the region. By maintaining a long-standing presence in Asia, Patti Wong & Associates supports both established and next-generation collectors. This partnership is crucial in expanding The Fine Art Group’s capabilities in the region.
Patti Wong is also part of New Perspectives Art Partners, an advisory firm formed with Ed Dolman, Brett Gorvy, and Philip Hoffman. However, the specific focus of Patti Wong & Associates remains on leveraging its Asian network and expertise to provide bespoke advisory services within the region.
Notable Moves in the Art World
In addition to these developments, Nathan Drahi, the son of Sotheby’s owner Patrick Drahi, was appointed Asia’s managing director, coinciding with the departure of the house’s longtime Asia CEO Kevin Ching. Meanwhile, Yuki Terase, a former rainmaker at Sotheby’s Hong Kong, left last year and started an advisory firm with Amy Cappellazzo.
This week, Art SG, a long-awaited art fair, is launching in Singapore, adding to the vibrant art scene in Asia. The focus of the new firm will be on modern and contemporary art, as well as luxury collectibles like jewelry and watches. The two advisors will partner on sourcing works for private deals between collectors.
Hoffman, the leader of Fine Art Group, views this partnership as an opportunity to add value for top collectors in Asia, suggesting the Southeast Asian market will continue to expand. With Hong Kong remaining mainland China's hub, where a large base of buying power is located, and the Korean and Singaporean markets on the rise, there is a growing need for art advisories in Asia, as collectors in the region expand their art holdings. The new venture aims to create a powerhouse on the art advisory side.
- Patti Wong & Associates, launched in 2023, operates strategically within the Asian art market, providing bespoke guidance to collectors venturing into the international art and luxury markets.
- The firm's partnership with The Fine Art Group, led by Philip Hoffman, seeks to leverage both parties' expertise and networks, enabling access to a global trust network and strengthening their presence in Asia.
- By focusing on offering tailored advisory services to collectors across Asia, Patti Wong & Associates supports established and next-generation art enthusiasts, a move that also expands The Fine Art Group's capabilities in the region.
- The firms founded by Patti Wong and Yuki Terase, along with the appointments of Nathan Drahi and Amy Cappellazzo, highlight significant moves in the art world, particularly in Asia, where the market for modern and contemporary art, luxury collectibles, and fine art is growing.
- The new venture of Patti Wong & Associates, with its focus on leveraging Asian networks and expertise, adds value for top collectors in the region, as they broaden their art holdings.
- As the Southeast Asian art market continues to expand, with Hong Kong, mainland China, Korea, and Singapore at its center, there is a growing demand for art advisories in Asia, making the new joint venture a potential powerhouse in the art advisory sector.
