ART SG Triumphs: A Vibrant Showcase of Southeast Asia's Rising Art Scene

Marcos Kueh, installation view of Woven Billboards: Nenek Moyang, 2023, in the Back Room’s Platform presentation at ART SG, 2024. Courtesy of Sam Chin and ART SG.

The second iteration of ART SG, Singapore's premier international art fair, successfully dispelled any concerns about its continued momentum. Patrick Sun, a collector based in Hong Kong, expressed his initial worries about the fair's quality in its sophomore year, often a critical juncture for such events. However, he found the atmosphere at this edition to be even more electrifying than the first.

Kicking off on January 18th at the Marina Bay Sands Expo and Convention Centre, ART SG attracted numerous visitors and sustained sales throughout its duration. The fair's goal is to establish Singapore as a central art hub in Southeast Asia, and this year it brought together 114 exhibitors, with over half originating from the Asia Pacific region.

Despite a 29% decrease in exhibitors from its inaugural year, including the absence of high-profile galleries like Pace Gallery, Perrotin, and David Zwirner, optimism about the fair and Singapore's art scene remains high. Coinciding with the 12th Singapore Art Week, the city hosted over 150 related events. In anticipation of ART SG, local collectors, including Lorinet and Andreas Teoh from Malaysia, showcased impressive exhibitions at the Gillman Barracks gallery district.

Local galleries, such as Yavuz Gallery, reported a remarkable response during the VIP preview and vernissage. Can Yavuz, the gallery's founder, highlighted the high visitor turnout as indicative of Southeast Asia's growing significance in the art world. Yavuz Gallery successfully sold around 80% of its displayed works, featuring Thai artists Pinaree Sanpitak and Manit Sriwanichpoom, with pieces priced between $5,000 and $50,000. Similarly, Sundaram Tagore Gallery, with locations in London, New York, and the Gillman Barracks, made significant sales, including a vibrant waterfall painting by Hiroshi Senju for $410,000.

International dealers noted the more deliberate approach of Singaporean collectors to purchasing art.

Installation view of Pearl Lam Galleries’s booth at ART SG, 2024. Courtesy of Pearl Lam Galleries.

Pearl Lam, who operates galleries in Hong Kong and Shanghai, observed a more cautious atmosphere due to inflation and high interest rates, yet sales remained robust. She pointed to Singapore's thriving economy and growing population of high-net-worth individuals as key factors. A Henley & Partners report highlighted a 40% increase in Singapore's wealthy population from 2012 to 2022, with a notable rise in family offices.

Steven Lee of Asia Art Center, with locations in Taiwan and Beijing, emphasized the importance of educating potential collectors in Singapore. The gallery, participating for the first time, sold about 70% of its booth, featuring works by Taiwanese artists Li Chen and Ju Ming. Lee reported sales to new buyers from the Philippines, Indonesia, and Singapore.

Catherine Kwai of Kwai Fung Hin, based in Hong Kong, was pleased with her encounters with new Southeast Asian collectors, selling about half of her booth's offerings. The gallery displayed works by Li Huayi, Lalan (Xie Jinglan), and Claude Vernard. Kwai views ART SG as an opportunity to cultivate long-term client relationships.

Kevin Poon, founder of Hong Kong's Woaw Gallery, compared ART SG to the early days of the ART HK fair and noted the slow yet growing local collector base. Woaw sold approximately 80% of its booth, including works by Keita Shirayama and Jon Burgerman. The gallery's participation in the first-floor section, featuring younger and more experimental works, was well-received.

The fair also showcased new media art, with Lisbon-based Artemis Gallery's VR experience "Animalia Sum" by kennedy+swan drawing attention. bitforms gallery from New York presented immersive AI paintings by Refik Anadol, highlighting ART SG's openness to experimental media.

Installation view of Asia Art Center’s booth at ART SG, 2024. Courtesy of Asia Art Center.

Despite a smaller exhibitor list and the absence of some major galleries, ART SG drew notable collectors, artists, and institutional representatives. However, some galleries reported underwhelming sales, suggesting Singapore is still developing as a major art market. Still, works by Korean and Japanese artists at Southeast Asian galleries performed well, and significant sales were reported by Thaddaeus Ropac, Waddington Custot, and White Cube, among others.

(All sales figures are in USD unless otherwise noted. Sales information is provided by galleries voluntarily and does not include confirmation of transactions, discounts, or other fees.)