23 Jan 2024

Artsy | ART SG’s Sophomore Edition Highlights Singapore’s Art Market Momentum

Many international dealers noted that collectors in Singapore typically take a more patient approach to transacting. Dealer Pearl Lam, who has spaces in Hong Kong and Shanghai, said that when it came to buying, inflationary pressures and high interest rates created a “more reserved atmosphere” among collectors compared to last year, but sales remained healthy. “Singapore has a thriving economy that has attracted a significant number of high-net-worth individuals,” said Lam, who described the fair as a valuable platform to tap into the city’s concentration of wealth, which has undergone a remarkable ascension in recent years.

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