Art Market Monitor

There’s a conflict in Singapore between a young collector (left) who is She is president of Singapore Medical Group (SMG) and ceo of SMG’s subsidiary The Lasik Surgery Clinic, and an older Indonesian-born seller. The couple bought a clutch of paintings including work by Walter Spies , Xu Beihong, Hendra Gunawan and Affandi that they seem to regret:

Dr Xiaoyan Baumann, 40, wants a refund of $300,000 for 17 paintings and a wood carving she and her husband had bought.

But the seller, Mr Tong Djoe, 82, is contesting the claim and counter- suing for $500,000 which he alleges was for another seven art pieces delivered to them but were not paid for.

China-born and German-educated Dr Baumann is chief executive officer of the Singapore Medical Group, which runs a cluster of specialist clinics. Indonesia-born Mr Tong is a millionaire who made his money in shipping, petroleum and trade.

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