SINGAPORE – Pent-up demand after a three-year hiatus saw art lovers in Singapore spend $4.5 million on art at the comeback edition of Affordable Art Fair Singapore, which was held from Nov 18 to 20 at the F1 Pit Building.
Sales figures for 2022 came in 32 per cent higher than the $3.4 million of its last physical fair in 2019, before Covid-19 pandemic restrictions. The number of works sold also increased 67 per cent, from 1,200 to 2,000 for the same comparative period.
The fair keeps art affordable with a price cap of $15,000 for artworks. Around 75 per cent of the works were priced under $7,500.
Visitor numbers also increased from 13,000 in 2019 to 15,000 this year. Around 60 per cent were Singaporeans, 30 per cent were new visitors, and 20 per cent bought their first piece of art from the fair.
Organisers attributed this increase in attendance to people being “excited to be out again”.
Fair director Alan Koh said: “We also see a growing number of new home owners and new expats moving to Singapore, which has contributed to the higher visitor turnout in 2022.”
While paintings and two-dimensional works remained popular, he noticed an increasing number of people buying sculptural pieces, three-dimensional works, abstracts, ink-on-paper, watercolours and colourful portraits.
This year’s fair marked its 15th edition. It hosted 80 local and international galleries, showcasing works by more than 650 artists. Of the galleries participating, 27 were local.
