Asian auction house to offer tips on art investing

Mon May 3, 2010 2:41am EDT
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By Miral Fahmy

SINGAPORE (Reuters Life!) - Want to buy some Asian art but not sure how to go about it? Leading Asian auctioneer Larasati may have some tips for you.

As the art market recovers from the economic downturn, the auction house has launched a holding firm, One East Larasati, to help buyers in Asian markets learn the nuances of the art market before making an investment.

One East Larasati, which is based in Singapore, will offer a range of art services from art consulting and education to collection management and conservation to tap the huge potential in Asia.

"The Asian art market is recovering from the recession and about to enter a whole new growth cycle," said Daniel Komala, chief executive officer and founder of Larasati.

"To meet the demands of the market, which is not only growing in size but also in terms of sophistication, we have launched One East Asia to expand our service offering into investment and consultancy, expertise which the market needs to sustain growth."

Larasati, which held its first auction in Singapore in the middle of the SARS respiratory disease crisis in 2003, has always specialized in Asian art.

It also holds sales in Europe and the auction house has helped bring renown to several Asian artists including China's Yue Minjun and Indonesia's Nyoman Masriadi.

Under the One East Asia flagship, Komala will consolidate the resources, expertise and contacts built through Larasati in the past decade and pursue a wide range of art market options and services, and a larger customer base across Asia.   Continued...