ArtRadar was disappointed with sales at Art Stage Singapore. The event seems to have had a strong Southeast Asian flavor—and an emphasis on collectors—but the buyers just didn’t seem turn out:
With all this talk of branding and regional posturing, Art Radar was surprised by the lack of on-the-ground reporting to be found on Art Stage Singapore itself. What was published, at least in the online world, was mixed. While the fair started out strong with an invitation-only viewing that saw the sale of work by many Singapore artists, some journalists noted lagging sales as the event went on.
LuxArtAsia noted, with little optimism, that despite many comments on the higher quality of the works in 2012, collectors just were not buying. They considered several possible explanations for such weak sales including the success that various auctions held towards beginning of the fair saw, poor timing (with the Chinese New Year holiday period on the horizon and the Taiwanese presidential elections wrapping up on 14 January) and a recent collectors’ trip to Jogya in Indonesia that may have been the cause of some tight purse strings. Apparently some Chinese galleries are even considering a petition to refund the steep rental fee.
We are definitely feeling the insecurity in the art market as collectors have been holding back on major sales. We have seen some big and important sales but they have not been enough.
Art Stage Singapore 2012 round up: Sales slow, coverage listless (ArtRadarJournal.com)