Asian millennials move into global art market

Spending power of young investors is overtaking the over-50s

Indonesian collector Tom Tandio would "never buy anything unless I know the artist first, believe in their intentions." (Photo provided by SongEun Art Space)

JOHN KRICH, Contributing writer

June 16, 2019 15:38 JST

HONG KONG -- When Michael Xufu Huang was sent to London for an art education by his Chinese parents, they could not have imagined they were paving the way for the birth of a private museum. "I didn't go clubbing or anything," Huang said of his time at the U.K.'s Royal Academy. "I took what I had and started buying one piece a year."