Art auctions are the new stock market

loading Haslin Ismail - The Very Extraordinary Voyage (2010-2011), mixed media collage on canvas (305cm x 305cm).

The selling of art works through auctions has been lucrative lately. This is encouraging a clear increase in events where famous and not-so-famous artists, and collectors of course, can make fortunes. Malaysia still needs to build up its infrastructure in this business though.

This is a banner year for art auctions in Malaysia, with a grand total of four held so far. For a country comparatively short on art history and with a long way to go in terms of infrastructure, this is an eyebrow raiser.

On May 6, the Henry Butcher Malaysian Art Auction, the third in as many years, shattered all records with a premium of RM4,007,300. It achieved an unprecedented 100% success for the 86 lots!

So, on the back of this stunning success, the Henry Butcher Auctioneers (HBA) decided to add a “fall” auction, scheduling it for October 28 at the Sime Darby Convention Centre, with a total of 91 works up for grabs.

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