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Date : July 16, 2024

Affordable Art Fair Singapore 2022 Sales Hit S$4.5 Million

Affordable Art Fair Singapore 2022 Sales Hit S$4.5 Million

Image: Affordable Art Fair Singapore

The 15th edition of Affordable Art Fair Singapore was a resounding success, with more than 15,000 visitors dropping by the F1 Pit Building between 18 and 20 November 2022. In total, 2,000 artworks were sold, which amounted to a staggering S$4.5 million in art sales.

Despite a three-year hiatus, the figures for this year’s fair exceeded that of 2019, when it was last held before Covid-related restrictions were enforced. Total sales grew by S$1.1 million from S$3.4 million, while visitor numbers increased by 2,000 from 13,000 in 2019. As for the number of artworks sold, the organisers shared that 800 more art pieces were sold this year compared to 1,200 in 2019.

Speaking more about the fair, Alan Koh, Singapore Fair Director shared, “We are heartened by the high visitor turnout and strong sales from this comeback fair, the first year since its return from 2019. After a three-year hiatus, it was such a pleasure to witness the joy and enthusiasm from our visitors, participating galleries, and artists. We are honoured to reconnect and engage our guests with art and are delighted to support the art-loving public to find art for their homes.”

In recent years, people’s interests in the arts have grown, and the pandemic accelerated this trajectory as collectors have more time to research and cultivate this passion. Unlike the earlier years, both seasoned and first-time collectors have access to information about the artwork and its artist due to the massive digitalisation efforts by galleries. The pent-up demand also served as a conduit for higher spending during this year’s fair and a return to the norm.

Video: Affordable Art Fair Singapore

While online sales have grown significantly, physicals fairs still retain its allure as interested buyers can see the art pieces in real life and interact with like-minded individuals, gallery owners and even the artists themselves. Furthermore, at Affordable Art Fair Singapore, a price cap of S$15,000 is placed on artworks, and around 75 per cent of the works were priced below S$7,500. The fair is an excellent way for new collectors to start on their artistic journey of acquiring art pieces. About 30 per cent of the visitors were first-time goers, and about 20 per cent brought their first piece of art from the fair.

In keeping with the fair’s formula of success: showcasing new content, introducing contemporary artists and making the fair an established event in the local art scene. This year’s fair saw 80 local and international galleries displaying thousands of artworks from more than 650 artists.

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