Interesting Article on the Blue Chip Art Phenomenon on CoboSocial
Was thinking about this and coincidentally came upon this article. During the Sotheby's blockbuster results this Spring auction season, we see KAWS hammer for USD$14.7 million and many other works worth 6-7 figures. Then you look at Singapore Art and the lack of demand/interest, with the works hammering way below the current primary prices in Singapore now. Only Jane Lee's work holding up. Other SEA works fairly slightly better, but only the usual suspects. So overall the prices / interest in SEA works aren't wonderful.
Currently I think the only SG artist above 1 Million is Tan Swie Hian and that was at an auction in Beijing when China money was ridiculous. And the other artists that have a blue chip status would be Chen Wen Hsi, Cheong Soo Pieng and Georgette Chen. Maybe Tay Bak Koi. So how to solve the problem? Having more prominent collectors, esp in Sg the collectors tend to be anonymous, and galleries to help spin interest? Museum acquistions of works in Singapore not very influential in Singapore as some of the works acquired are quite Kelong. Really no answer. But I think it has to do with a talented artist. Then a prominent collector loves the artist and influences other collectors (with a good gallery working with the artist). Then the spin doctor machines starts. So if even follow then it will work, like the breakaway group of cyclists from the main peloton and enough follow the break away group it would be good.
So once in a while you have to step back and think about your collecting. Remember to do your due diligence with regard to the artist/brand, decide if the price is good ( anything <10k don't need to think too hard), know prices of art pieces (both primary and secondary market), see more art, talk to gallerists and also see what the other collectors are thinking. Talk to artists and curators to know what they think. Artists/curators criteria for good art sometimes are polar opposites of what the end users ( collectors think). Hang on to the passion and continue seeing art.
Cross your fingers and hope for the best.
Was thinking about this and coincidentally came upon this article. During the Sotheby's blockbuster results this Spring auction season, we see KAWS hammer for USD$14.7 million and many other works worth 6-7 figures. Then you look at Singapore Art and the lack of demand/interest, with the works hammering way below the current primary prices in Singapore now. Only Jane Lee's work holding up. Other SEA works fairly slightly better, but only the usual suspects. So overall the prices / interest in SEA works aren't wonderful.
Currently I think the only SG artist above 1 Million is Tan Swie Hian and that was at an auction in Beijing when China money was ridiculous. And the other artists that have a blue chip status would be Chen Wen Hsi, Cheong Soo Pieng and Georgette Chen. Maybe Tay Bak Koi. So how to solve the problem? Having more prominent collectors, esp in Sg the collectors tend to be anonymous, and galleries to help spin interest? Museum acquistions of works in Singapore not very influential in Singapore as some of the works acquired are quite Kelong. Really no answer. But I think it has to do with a talented artist. Then a prominent collector loves the artist and influences other collectors (with a good gallery working with the artist). Then the spin doctor machines starts. So if even follow then it will work, like the breakaway group of cyclists from the main peloton and enough follow the break away group it would be good.
So once in a while you have to step back and think about your collecting. Remember to do your due diligence with regard to the artist/brand, decide if the price is good ( anything <10k don't need to think too hard), know prices of art pieces (both primary and secondary market), see more art, talk to gallerists and also see what the other collectors are thinking. Talk to artists and curators to know what they think. Artists/curators criteria for good art sometimes are polar opposites of what the end users ( collectors think). Hang on to the passion and continue seeing art.
Cross your fingers and hope for the best.
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