Chang Fee Ming – What About Me?
Investing in masterpieces becomes popular in bad times, but fatigue may be setting in.
Will the Malaysian art (auction) market slouch in 2016? New artists’ records may have been set in 2015, but the market did end the year with a comparatively tepid Q4 closing.
The deceleration can be faulted on the GST and a weakening Ringgit (since August) buffeted by a protracted oil price slump. The Ringgit plummeted to a new low of RM4.37 to the USD on November 12, 2015.
Still, it was not a bad year.
Biddings were spirited in the 12 auctions of the four principal art auction hongs – Henry Butcher (HB), Kuala Lumpur Lifestyle Art Space (Klas), Masterpiece KL and The Edge Galerie.
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