This Art Basel Conversation took place in Basel on June 14th 2012.
Participants in the discussion were:

Monique Burger, director of the Burger Collection in Hong Kong.
Dr. Oei Hong Djien, collector, founder and curator of OHD Museum, Magelang Indonesia.
Budi Tek, Collector and founder of Yuz Museum, Jakarta and Shanghai.
Rakhi Sarkar, collector, director of CIMA Centre of International Modern Art and managing trustee for Kolkata Museum of Modern art, Kolkata, India.
Claire Hsu, Co Founder and Executive director of Asia Art Archive, Hong Kong.

The focus of the discussion is on the importance of the role of the private collector and the private art institution in Asia. In some countries such as Japan and Korea there is a broader system of support for contemporary art from public institutions and from the state, whereas in other Asian countries this support is at best sporadic. The role of the private institution is therefore of great importance, but not altogether unproblematic. They can play a potentially valuable role for encouraging experimentation and risk taking but have in some cases faced accusations of being all too tied up with commercial interests. Private collectors in Asia can also work as a counterweight to the power of auction houses by following young emerging artists rather than market trends. Individual collectors with a passion for local art as well as a critical engagement with international art developments can be vital in terms of sustaining interest and marshalling various kinds of support for promoting art and artists. Collecting and exhibiting works of contemporary art that are specifically difficult for many institutions to buy and to exhibit offers unique art experiences for specific audiences in Asian countries. Collectors and their collections can also act as patrons and facilitators of the artistic process without establishing a dedicated exhibition space, engaging in various projects in specific contexts.