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(From New Straits Times (Malaysia))
INDONESIAN art collectors are going cross-border. They are also putting their money on lesser known and younger Indonesian artists.
This change spells new hope for investments in Asian art, as the Indonesians have been the most aggressive since art auctions took root in Singapore a little over a decade ago, and much later, Jakarta.
These market-movers are looking beyond the Raden Salehs and Affandis for gilt-edged investments in art, and this could set off a healthy bull rush in collecting from unknown artists in neighbouring Asian countries. It's a breakthrough as the Indonesians are still the big spenders and dominant force in art buying, at least in Southeast Asia, although Malaysians and Singaporeans are beginning to flex their muscles and flaunt their wealth.
Daniel Komala, president and director of the Larasati Auctioneers, confirms this trend."Yes, Indonesian collectors have started going cross- border. In …