How to Spend $1 Million in Hong Kong for Art Basel
Millionaires are no stranger to Hong Kong, the financial hub of Asia and arguably the most progressive city that continues to bang out Michelin-starred restaurants, five-star hotels and globally recognized events. The cosmopolitan city has a swelling, six-digit-income ex-pat community that lends to Hong Kong’s growth and tony amenities.
Art Basel (founded in Basel, Switzerland, in 1970 and exported to Miami in 2002) returns to Hong Kong this May 15-18 for its second year. Taking place at the Hong Kong Convention and Exhibition Centre, Art Basel Hong Kong — which triggered an emerging art scene — is slated to attract close to 100,000 visitors exploring 245 contemporary galleries from around the world. Art Basel has put Hong Kong on the map for art collectors, who fly in on private jets, ring up priceless art sales to the tune of millions and splurge on the city’s finest offerings. Here’s what millionaires can spend on when they visit Hong Kong Art Basel.
Fly in on a private jet with Remote Lands
Remote Lands is a bespoke, luxury tour operator founded by a wealthy couple who previously lived in Hong Kong, so clients receive personalized, VIP attention. The boutique operator’s affluent, U.S.-based clients often jaunt to Hong Kong for quick weekenders on an Embraer Lineage 1000, which comes equipped with 22 seats, 2 flight crew and bathroom with shower.
Private jet to Hong Kong with Remote Lands: $250,000
Book the Presidential Suite and entire 26th floor at Peninsula Hong Kong
Fresh from a $58-million renovation with newer advanced technology (the touch of a button transforms a writing table into a vanity), Peninsula Hong Kong has wooed dignitaries, celebrities and upscale visitors alike since 1928, making it the oldest hotel in Hong Kong. The 4,100-square-foot Peninsula Suite on the 26th floor comes equipped with its own helipad, private balcony, screening room, 24-hour butler and Rolls Royce. For Art Basel, Peninsula Hong Kong partnered with British artist Tracy Emin (known for her I Promise to Love You neon installation in NYC’s Times Square 2013) for a unique laser animation presentation, the first art piece to ever be projected on the hotel’s facade.
Presidential Suite at Peninsula Hong Kong ($22,637 per night at 3 nights): $67,911
Uncork exclusive wines from Ginsberg+Chan
After abolishing its wine tariff in 2009, Hong Kong became one of the leading regions in the world for record-breaking wine auction sales and currently stands as the wine hub of Asia. The exclusive wine shop Ginsberg+Chan stocks rare and limited-edition wines frequently sold to gourmands and connoisseurs alike. Grab a bottle of DRC Romanee Conti Grand Cru 1966 (($12,000) from Burgundy, one of the world’s greatest wine producers, Louis Roederer Cristal Millennium Methuselah 1990 (only 2,000 were produced, $11,352) and Chateau Latour Double Magnum 1982, a 100-point wine according to Robert Parker ($9,675).
Rare wines at Ginsberg+Chan: $33,027
Throw a private Art Basel event at Ozone
On the 118th floor of Ritz-Carlton Hong Kong, Ozone is Asia’s highest bar and among the tallest in the world. Literally in the clouds at 1,600 feet, the indoor/outdoor bar flaunts staggering, 180-degree views of Hong Kong Island and Victoria Harbour (on a clear day), and the swank interiors are equally impressive. Buy out the entire floor for up to 600 people for $103,202 with premium open bar and bites. While you’re at it, snag Ozone’s only bottle of 3-liter Petrus Pomerol 1982. At a million Hong Kong dollars ($129,202), the bottle is more expensive than the actual rooftop buyout.
Private event at Ozone ($103,202) + Petrus Pomerol ($129,202): $234,405
Buy art at Art Basel
Art Basel Hong Kong will not only see works of emerging, notable artists but also a slew of priceless art from familiar faces. Hammer Galleries will debut at the fair this year, bringing an exhibition of Impressionist and Modern Masters with an approximate value of 100 million USD, including important historical works like Picasso’s 1941 ‘Femmes dans un Fauteuil.’ A related Picasso painting sold at auction for $22 million. A buzzy exhibit will be from Mitchell-Innes & Nash in New York City, featuring modern master paintings and intimate drawings by Jean Arp, Anthony Caro, Nancy Graves, Roy Lichtenstein, Brice Marden, Henri Matisse and Andy Warhol. Prices at Art Basel Hong Kong can range from $200,000 to $10 million for art.
Comfortable price for an artwork at Art Basel: $400,000
Cruise the harbor on your own private yacht
Private yachting has seen a spike in popularity in the past few years, and with good reason. There’s money to burn, and the landscape (from iconic skyline to undiscovered nature) is commanding from the waters. Last year’s Numarine 78-foot luxury yacht recently sailed to Hong Kong, and yachters can entertain up to 25 guests when booking with Riviera Orientale, a premium yachting society. The bespoke furnishings, stylish interiors and spacious deck truly impress, ensuring it stands out flashy from other yachts in Hong Kong. Numarine is equipped with two cozy cabins should you want to stay aboard overnight.
Numarine 78-foot luxury yacht charter for one night: $20,000
Rent out Fatty Crab for an evening
Hong Kong has seen a range of culinary imports open in the past year like Catalunya by elBuli’s Alain Devahive Tolosa. Among them, NYC’s Fatty Crab has created a buzzing scene with artists, hipsters and tastemakers who order notable, signature dishes like crispy pork belly and chile Dungeness crab. Guests can rent out the entire restaurant with food and beverage included (100 people max) for $9,675.
Fatty Crab buy-out for one night: $9,675
Total spending: $1,015,018