Sotheby’s resumed Modern & Contemporary Art auctions in Singapore in 2022 after a 15-year hiatus, signaling renewed confidence in the region. In an interview, Jasmine Prasetio, Managing Director for Southeast Asia at Sotheby’s, discusses how Singaporean and Singapore-based collectors are increasingly active in both local and global sales, actively bidding on and acquiring works by Singaporean artists such as Georgette Chen, Kim Lim, and Jane Lee. Notable auction results include Georgette Chen’s “Lychees and Peaches” achieving $1.5 million in July 2023 and Jane Lee’s “Melt VII” selling for $140,877.
This article matters because it highlights the growing sophistication and engagement of Singaporean collectors, who are not only supporting local artists but also introducing them to international audiences. The shift reflects broader market trends, including increased demand for women artists and the strengthening of Singapore’s position as a cultural and commercial art hub in Southeast Asia, with implications for global auction dynamics and regional art market growth.