June 19, 2009

Singapore on Top of The Art Game

Christie's art storage facility

Banking on this region as a major consumer hub for art, Singapore steps up their game as a trading and cultural hub for Asia. An ambitious project that aims to revolutionize art storage and trading is due to open in December this year. The world’s largest facility built to receive collectibles, from artwork to vintage cars, the Singapore Free Port is a tax free, three storey high warehouse with optimal temperature conditions and security features designed for the long-term conservation of collectibles with 30,000 square meters of strong rooms, offices and showrooms.

Despite the global art market suffering in the economic downturn, apparently Asia is where the action is with enormous Indian and Chinese collections deteriorating in ill-suited warehouses and Malaysian collectors reportedly rent entire apartments just to store artworks. Christie's has already taken up 40% of the space for a storage facility. Sigh! Now, why didn't we think of it first?


Anonymous said...

Now thats investing in the arts! Its not just about the artists!

-whatsart- said...



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