31 Aug '15, 3pm

Malaysia’s Art Boom Hoping for a Late Boost from Currency Drop Singapore’s Business Times polls Malaysian auctione…

Malaysia’s Art Boom Hoping for a Late Boost from Currency Drop Singapore’s Business Times polls Malaysian auctione…

Malaysia’s Art Boom Hoping for a Late Boost from Currency Drop August 31, 2015 by Marion Maneker Kow Leong Kiang Singapore’s Business Times polls Malaysian auctioneers and dealers who see an opportunity in the devaluation of the Malaysian Ringgit. The currency crisis has its advantages, adds Mr Komala. “In fact, the boom in Indonesian art started with a crisis. With the ringgit down in value, this could be a chance for the average collector – professionals in their 30s and above, with savings in Singapore or US dollars – to come into the market,” he points out. The prices of some 80 per cent of Malaysian artists’ works haven’t risen and won’t go up, since art isn’t like manufacturing where raw materials make up half the cost. “So I think, for collectors, this is probably a good time to collect very good Malaysian works.” […] “People might take a step back on the higher-pri...

Full article: http://www.artmarketmonitor.com/2015/08/31/malaysias-art-...

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