Exclusive finews.asia Event: Why Art Advisory Matters
Ahead of this year’s third edition of ART SG, finews.asia hosted an exclusive event: Organized in partnership with the Embassy of Switzerland in Singapore, Ambassador Frank Grütter, and private bank Pictet, the event delved into the intersection of art and finance.
The focus of the event was clear: «Why Art Advisory Matters». It highlighted the growing significance of art advisory, as art increasingly evolves into a standalone asset class. But a key question remained – should art simply remain a passion?
Claude Baumann, Founder and Publisher of finews.asia, moderated an engaging panel discussion featuring industry experts Ning Chong, Simone Töllner, and Stephanie Poon. The panel offered valuable insights into the growing interest in art as a financial investment.
Duality of Art Collecting
The discussion explored the increasing connection between art and finance, with art emerging as an important asset class for the new generation of Ultra-High-Net-Worth Individuals (UHNWI).
Ning Chong emphasized the duality of art collecting: «Most collectors buy art out of passion. Art opens doors to new spaces, networks, and friendships. Of course, some seasoned collectors are laser-focused, such as those seeking to fill specific gaps in their collections.»
Prix Pictet
finews.asia event (Image: fa)
Swiss private bank Pictet’s commitment to art extends beyond collecting. Established in 2008, the bank’s Prix Pictet reflects its long-term vision to support the art ecosystem and drive positive change. The initiative has notably raised awareness about sustainability and climate issues through various artworks.
«When you see the art physically, it resonates – even if it’s something as simple as remembering to bring your own mug or reduce plastic use,» said Stephanie Poon, who is part of the Prix Pictet organization.
Credibility of Digital Art
The panel also discussed the credibility and evolution of digital art. Simone Töllner remarked: «Digital art didn’t start recently; it dates back years, with early forms like the first disc. Today, it encompasses even generative AI art.»
Ning Chong added that the art industry’s opacity presents challenges: «There’s no ‘annual report’ for art. It’s a highly opaque industry, which is why doing the groundwork – attending events, engaging with people, and gathering intelligence – is invaluable.»
Minimum Investment
When asked about the minimum investment required for quality art with growth potential, she responded: «I’d recommend at least $50,000. If you’re spending $1,000 or $2,000 on emerging artists hoping they’ll become superstars, it’s akin to buying penny stocks.»
On the eve of ART SG’s grand opening, the finews.asia event offered a unique opportunity to reflect on the deep interconnection between finance and art. finews.asia will continue to cover this dynamic topic through further events and its new dedicated platform, finews.art.
Singapore to Become a Vibrant Art Hub
(Image: Logo ARTSG)
ART SG officially opens today, Friday, from 12 noon to 7 pm and runs until Sunday, January 19. Featuring presentations from 105 leading galleries representing over 30 countries and territories, the event showcases thousands of artworks, offering much to explore.
With the hashtag #ARTSG, Southeast Asia is establishing itself as a vibrant hub for art and wealth management.
- More to follow
