Kapoor, who said most of his gallery’s business is in the middle market, is less sanguine. “It’s affected us across all areas of our specialities—not just Chinese art, but Indian, Himalayan, Gandharan, and Indian works, too,” he said.
Kapoor isn’t simply stepping back to ride things out; he’s actively engaging with Chinese collectors via social media and WeChat and expects a large number of Chinese visitors during Asia Week, when his gallery will open the exhibition "Amrita: Nectar of Immortality," a show featuring Indian miniatures, large Thangkas, and Hindu and Buddhist sculpture, all of which range from $15,000 to more than $300,000.
Chinese buyers are “still a staple,” he said. “You do hope for them to visit, because they still have such buying power.”