Kim Lim, Ronin, 1963, bronze sculpture with wood base monogrammed Kim, 15 x 29⅞ x 12¼ in.
Photo courtesy of Sotheby’s
As Singapore Art Week unfolds from January 22 to 31, 2026, the city-state once again affirms its position as Southeast Asia’s cultural and commercial art hub—where global market confidence, institutional ambition and private patronage converge. Few are better placed to interpret this moment than Jasmine Prasetio, Managing Director for Southeast Asia at Sotheby’s. Having spent more than two decades with the auction house, she has played a key role in advancing Southeast Asian art on the international stage and strengthening Singapore’s position within the global auction circuit. Sotheby’s decision to resume Modern & Contemporary Art auctions in Singapore in 2022, after a break of 15 years, marked a pivotal shift. It signaled not only renewed confidence in the region, but also the growing sophistication and engagement of Singaporean and Singapore-based collectors. No longer content to observe, local buyers are increasingly bidding actively, setting records and championing Singaporean artists—from Nanyang pioneers to contemporary women artists—both locally and abroad. In this conversation, Prasetio reflects on shifting collecting behaviors, rising demand for local artists and the crucial role collectors play in sustaining and shaping Singapore’s artistic future.
Why did Sotheby’s bring back its Modern & Contemporary Art auction to Singapore in 2022 after a 15-year hiatus?
While Sotheby’s has had a long-established footprint in Singapore, the resumption of auctions in Singapore speaks to Sotheby’s belief in the importance of Southeast Asia and in our commitment to nurturing our engagement with the art community in Singapore and the region.
Georgette Chen, Lychees and Peaches, 1940-1945, oil on canvas, 65 x 50 cm
Photo courtesy of Sotheby’s
How have Singaporean and Singapore-based collectors’ buying patterns at auction shifted in recent years with respect to modern and contemporary Singaporean artists? Have you noticed a clear shift among local collectors from merely observing to actively bidding on and acquiring works by Singaporean artists?
Looking at the bigger picture of Southeast Asian collectors, including those who are Singaporean and Singapore-based, it has been noticeable that they are increasingly active in not just our Asia sales, but also our global sales. For Singaporeans, there is a clear passion to support Singaporean modern and contemporary artists, regardless of whether they have interest and curiosity for international artists, which doesn’t deter them from continuing to enrich the depth of their own collection of national artists. In our Singapore auctions, Southeast Asian art, including Singaporean art, forms the core of the highly curated collection, but we also incorporate works by artists from the US, Europe and North Asia to reflect the diversity of the taste and demographic of Singapore’s community. What is worth noting is that through this curation, we are introducing Singaporean artists to the international art community. Examples are Georgette Chen, Kim Lim and Jane Lee being bid on and purchased by various collectors who are not Singaporean citizens: greater Southeast Asia, China, Taiwan, Hong Kong, USA.
Which Singaporean artists are in demand, and what are the highest auction prices transacted by Sotheby’s for works by Singaporean artists?
Market and patronage appreciation for women artists have increasingly strengthened over the past few years, especially after 2020, and deservedly so. There are some Singaporean women artists who have been in the limelight in recent years. Respected institutions globally have been acquiring works by Southeast Asian artists working today. Top prices for Singaporean artists include Georgette Chen’s “Lychees and Peaches”, which made its auction debut and achieved $1.5 million in July 2023. Jane Lee’s “Melt VII” was sold for $140,877 in July 2023. Chen Wen Hsi’s “Pasar (Market)” sold for $1.7 million in 2013 at Sotheby’s Hong Kong, an auction record for the artist. Liu Kang’s “Pounding Rice” sold for $516,548 in July 2023, an auction record for the artist. Kim Lim’s “Ronin” sold for $122,964 in 2025, an auction record for the artist.
Jane Lee, Melt VII, 2017, acrylic and heavy gel on fiberglass, 180 x 150 cm
Photo courtesy of Sotheby’s
What role do you see Singaporean buyers playing in lifting market recognition and records for local female contemporary artists and Nanyang pioneers, and how are they supporting the future of Singaporean art?
The success of a nation’s artists begins first and foremost domestically. It’s very important for Singaporeans to support Singaporean artists, whether in their patronage to academia and institutions, their acquisitions in the primary market through galleries, their efforts to promote the artists locally and internationally or their support in a visible public platform like auctions. We are also very fortunate that the Singapore government is incredibly supportive of the arts on a national level. In a nutshell, we are all part of the ecosystem, and in order to thrive, we must support one another. As the famous quote by Robert Ingersoll said, “We rise by lifting others.” What makes Singapore strong is the diversity of cultures and nationalities within the nation. Like the spirit of Nanyang, which melded Chinese, Malay, Indonesian, Indian and European esthetics and soul into one unique visual language, this very nature makes Singapore a natural hub for the region. Today, Singapore carries voices and demographics that are more diverse than ever, and the future will inevitably reflect this accessibility for cultural exchange.
