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Home / News / This is time to buy (and invest in) Southeast Asian art (June 2010)

This is time to buy (and invest in) Southeast Asian art

June 2010

 

Cool Purple Girl by Asian artist Attasit Pokpong (Thailand)
Cool Purple Girl (2010)
by Asian artist Attasit Pokpong (Thailand)
oil on Belgian linen, 100cm x 100cm


It has been an interesting year for the artworld in general where many commentators were expecting a severe downturn in interest and prices after the Global Financial Crisis.

This has not materialised.

Insofar as Southeast Asian art is concerned, we noted strong sales throughout this year to date, with particular interest in the masterworks by Reanrgsak Boonvayanishkul and in New York with works by Attasit Pokpong and Vichit Nongnual selling strongly.

Christies' (Hong Kong based) Ruoh Ling Keong, Head of Southeast Asian Modern and Contemporary Art, reported that their "Spring sale demonstrates clear strength and depth in the Southeast Asian contemporary art market, with new auction records achieved." The "sale marks a 118% improvement and a full recovery of the Southeast Asian modern and contemporary art market."

Demand has increased substantially for our arranging commissioned works, in particular for Attasit Pokpong, whose prices are again on the rise with an increase coming in July.

We noted with interest the comment of a gallery who also represents him that "Attasit's art is a very good investment, since I have started dealing with him his artwork has increased by at least 300% and will continue to rise."

We would strongly advise our clients to look seriously at acquiring a painting by Attasit before the price increase and for those with Australian self-managed superannuation funds, we believe that, despite the discussion regarding artwork exclusion, this will not occur. As a matter of record, we hold 11 Attasit's in our Australian SMSF.


Regards,
Anthony Smith and the asart team

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Anthony Smith has been invited by Art Antiques Design to share his expertise about art in a series of articles:

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