By the time Art Basel Hong Kong opened to VIPs on May 14, Edouard Malingue had already sold out his entire inventory of paintings. He spent the rest of the fair fending off disappointed would-be buyers.

“Some of my clients got really upset with my staff and I had to intervene,” said Hong-Kong-based Malingue, after all seven works by Chinese painter Yuan Yuan were sold in advance of the fair. “I explained that we’ve been selling to new collectors and the artist isn’t a factory.”