Hong Kong is already a big player in the global art auction scene, but according to Patti Wong, former top exec at Sotheby’s in the region, it’s missing a few key pieces to really dominate. The city needs better tax breaks and incentives to attract more art storage and trading businesses—plus, there’s a shortage of skilled professionals in areas like art authentication and restoration. Without these, Hong Kong might struggle to fully cement its status as a top-tier art hub.

Editor’s Note: Hong Kong’s art scene is thriving, but it’s not quite hitting its full potential. If the city wants to compete with places like New York and London, it’ll need to sweeten the deal for businesses and invest in growing local talent. For art collectors and investors, this could mean better infrastructure and services down the line—or, if nothing changes, missed opportunities for the city. Either way, it’s a story about whether Hong Kong can level up in the high-stakes world of art trading.