Sotheby's First Singapore Auction in 15 Years Is a Success, Signaling Southeast Asian Art Market's Strength
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Loading... - Banyul Nur
- 23 Sep 2022
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The highly anticipated auction featured modern and contemporary artworks, with a heavy focus on modern art by artists from Southeast Asian countries such as Singapore, Indonesia, and Vietnam. Dealers and collectors from across Southeast Asia, Hong Kong, and mainland China flocked to the auction.
Leo Xu, a senior director at David Zwirner gallery in Hong Kong, had flown in for the auction. Speaking with ARTnews, he observed a positive atmosphere in the room, where he spotted fellow international gallery representatives in attendance.
“It was surprising to meet a number of collectors from mainland China. From my interactions and observations at the event, I found that some collectors had recently relocated to Singapore and were starting their collections there,” he added.
The movement of families, entrepreneurs, and businesses from Hong Kong and mainland China to Singapore due to relaxed Covid restrictions in the city has certainly bolstered international interest in the country as a global art market player. This makes it a natural choice as a sale location in Asia for Sotheby’s.
However, Jasmine Prasetio, Sotheby’s managing director for Southeast Asia, said the decision to host the auction in Singapore was not meant to propose the city as an alternative to Hong Kong. Instead, the house wanted to add to its presence in the region. Read More…
