Last updated on June 25th, 2026 at 07:52 pm
Consistently listed among the 100 most influential individuals in the art world, Magnus Renfrew is a visionary behind the preeminent art exhibitions of the world and one of the rare authorities on the contemporary Asia-Pacific art market. Over the last twenty years, Renfrew has significantly influenced the contemporary art world, with a particular focus on Asia.
Fronting the cultural exchange through art between the Western world and Asia, Renfrew co-founded ART SG, one of the largest international art fairs in Southeast Asia, along with Taipei Dangdai and Tokyo Gendai. Prior to that, Renfrew served as the inaugural director of ART HK: Hong Kong International Art Fair, the predecessor to Art Basel in Hong Kong, which commenced in 2008.
In this conversation with The Neo Art Magazine, Renfrew discusses the evolution and future of the Asian art market, the upcoming edition of ART SG opening on 18th January 2024 and the gaps that this newest edition aims to fill in the Southeast Asian art market.
You have been in the art world for the past 20 years. How have you seen the art market evolve?
The art world has changed out of all recognition over the past 20 years. Asia has come to play an ever more important part in the international art market and the collector base throughout the Asia Pacific has increased dramatically during that time. There has been an increase in interest in art from outside of a European and American-centric bubble, and so art from across Asia has been generating substantial institutional and market interest. At the same time, collectors from Asia have become more open to collecting art from outside of their own cultural backgrounds. There is a new generation of collectors coming through who are young, ambitious and internationally-minded and who are going to have a major impact on the art market. It has been a privilege to have been a part of the development through the launch of ART HK, Art Basel Hong Kong, Taipei Dangdai, ART SG and Tokyo Gendai.
As per UBS Art Basel Report 2023, Asia in 2022 fared for approximately 20% of the global art sales- China, Japan and South Korea being the leading players. Do you foresee any emerging markets from Asia in the near future?
The potential of Asia is huge, and each region within it has its own unique characteristics and strengths. One of the reasons we wanted to launch a fair in Singapore is because of its unique position as a gateway to Southeast Asia which as a region has a population of 650 million – comparable to the population of Europe, and which is home to some of the fastest growing economies in the world. Southeast Asia has a very promising prospect as an art market hub, with an array of culture scenes and exciting artistic production. The case for Singapore itself as a fertile arts hub is continuing to build as it gains greater importance geo-economically, geo-politically and as the Asia centre of wealth management.
When you look back at the Art Assembly fairs from the past, how do you think the profile of art collectors changed? Have their preferences towards artworks changed as well?
Across Asia, there has long been an affluent and established collector base, which continues to grow into the next generation. There are sophisticated collectors in the region and a younger generation of new buyers hungry to engage with contemporary art. This upcoming generation is extremely well-informed and is seeking to collect work from a range of cultural backgrounds, not only from their locality.
How has India performed in the global art market?
The Indian art market continues to grow, evolve, and innovate. It is dynamic, with a strong domestic collector base who have a passion for contemporary art.
What differentiates ART SG 2024 from its earlier editions? What must the viewers and visitors expect?
We are thrilled to be returning to Singapore again this January, for what promises to be an exciting week of cultural events around the city for Singapore Art Week and ART SG. We have 38 new galleries joining this year, including Kaikai Kiki Gallery, Asia Art Center, Taro Nasu, Sabrina Amrani, Poligrafa Obra Grafica, Bangkok CityCity, BASTIAN, Gathering, Chi-Wen, and more. We are also delighted to welcome back leading international galleries including Gagosian, White Cube, Thaddaeus Ropac, Lehmann Maupin, Goodman Gallery, Kukje Gallery, P.P.O.W, Ota Fine Arts, Yavuz Gallery, Sullivan+Strumpf, TKG+, Richard Koh Fine Art and more.
The fair will unfold across three main sectors including the GALLERIES sector for diverse, multi-artist exhibitions; FOCUS which features galleries presenting solo or duo artist programs, or curated thematic presentations; and FUTURES, dedicated to supporting younger galleries under the age of 10 years, presenting specially created presentations for ART SG. Throughout the fair, visitors will also encounter dynamic, large-scale, site-specific installations as part of PLATFORM sector; experience a curated FILM program hosted in collaboration with ArtScience Museum and participate in a TALKS program featuring art world thought leaders.
What kind of gap do you think ART SG fills in the art market in Southeast Asia?
The foundational premise of ART SG is to expand audiences for contemporary art in Asia. Many art fairs in cities around Asia are playing an important role in doing that. It allows a bourgeoning group of collectors in the region to not only discover artworks from Southeast Asia, but also opportunity to connect to the international artworld on their doorstep.
ART SG 2024 is bringing together 116 galleries from across 33 countries. That’s a huge number! What do you think is the reason behind this kind of response?
Our strong first edition of ART SG established the fair as a landmark global art event, providing a vital platform for building new connections and discovering the Southeast Asian art scene. We are delighted with the number and quality of participants for the second outing of ART SG in January 2024, which comprises a strong and curatorially balanced list of established and upcoming Singapore and Southeast Asian galleries, alongside leading international names from around the world. Amid a rapidly developing region, ART SG offer visitors an opportunity for an in-depth exploration to better understand and engage with the diverse and multi-faceted cultural landscape across Southeast Asia and its wider catchment area of the Indo-Pacific.
Leave a Reply