Malaysia’s The Star reports on a $650,000 sale of a set of Warhol prints at Art Expo Malaysia, with 49 galleries from 19 countries, that closed yesterday. The Malaysian government has made an explicit goal of emulating neighboring Indonesia and Singapore in wanting to develop a domestic art market as a form of tourism:

A set of 10 silkscreens by famed American pop art icon Andy Warhol was snapped up by a Malaysian collector for RM2mil at the 4th Art Expo Malaysia (AEM) 2010.

AEM wrapped up its five-day showcase yesterday with a record RM11mil sales, nearly doubling the sales figures achieved in 2008 and 2009. Around 12,000 visitors flocked to the art fair, marking a clear indication of rising art awareness, appreciation and purchasing power amongst Malaysians. This year’s fair was also significant as there was an influx of high-profile Singaporean galleries that represented artists from all over the world.

Malaysian pays RM2mil for Warhol art (The Star)