Taiwan is suddenly much richer, and its art dealers are wondering whether any of that new money will ever buy a painting. The island's economy grew 14.4 percent year on year in the third quarter, driven by exports and investment in high-performance computing, and the artificial-intelligence boom has transformed the cities of Hsinchu and Zhubei into technology hubs. The question hanging over Art Taipei, which ran from 29 October to 2 November at the Taipei World Trade Center, is whether that wealth will produce collectors.

The fair itself looked confident: 127 galleries took part, including 61 from outside Taiwan, the highest international share in recent years at 48 percent. South Korean participation jumped from 15 galleries to 25, Perrotin enlarged its stand for a third consecutive year, and Takashi Murakami's Kaikai Kiki Gallery returned after a break. Claudia Chen, chairwoman of the Taiwan Art Gallery Association, said two groups of buyers are emerging: companies setting aside budgets for art, and individuals who have profited from the industry, from supply-chain entrepreneurs to executives and stock-market investors.

For now, the trade is mostly in modestly priced work. Chen said pieces between $5,000 and $10,000 tend to sell fastest, and Ruomu Gallery reported selling about half of its solo presentation by New York-based Taiwanese artist Leigh Wen on opening day. Corporate buying brings friction: listed companies need professional valuations and internal approvals, though Taiwan offers tax incentives for art donations to public museums. Perrotin, despite expanding, stayed cautious, warning that strong economic figures do not automatically create sustained demand.

The gap is starkest in Hsinchu itself, the semiconductor hub half an hour from Taipei by high-speed rail, where there is almost no commercial gallery scene. UP Gallery, a photography-focused space founded there in 2009, is one of the few exceptions, and its director, Agnes Liao, said art still ranks behind wine, luxury goods, cars, travel and property for most technology workers, some of whom collect Pokémon cards instead. Dealers agree the money is real; converting it into collecting will take education, patience and time.