Bidding big on Malaysian art

HBAA aims to honour and highlight the work of renowned Malaysian artists like Awang Damit Ahmad.

THE global art market continues to face a slowdown, with major auction houses Christie’s, Sotheby’s, Phillips and Bonhams seeing their total sales down by 26% in the first half of 2024 from the same period last year, according to a report by Art Basel and UBS.

The report also reveals that the number of high-net-worth individuals (HNWI) planning to buy art in the next 12 months dropped to 43% from just over 50% in 2023.

The Malaysian art market has felt a somewhat similar effect in the last few years, says Polenn Sim, director of Henry Butcher Art Auctioneers (HBAA), one of Malaysia’s leading art auction houses.

“Our auction sales peaked at RM11.6mil in a year during the movement control order period,” he notes.

“People were stuck at home, so interest shifted towards acquiring paintings that they could admire in their own homes. They also couldn’t spend money on travel, so there was more money to buy art. However, the year after borders re-opened, sales fell to RM8mil.”

The director shares that while HBAA had a slow start in 2024, sales have steadily risen in auctions held throughout the year. The auction house expects to finish the year strong with an auction planned for Dec 8.

It will feature some 245 lots of Malaysian and South-East Asian artworks spanning a wide range of mediums, expressions and styles.

They include works by late batik grandmaster Datuk Chuah Thean Teng, acclaimed late artist Datuk Ibrahim Hussein and celebrated modern artists such as Jolly Koh, Yusof Ghani and Awang Damit Ahmad.

“The quality of the artworks for this edition is noteworthy,” Sim comments.

“This, along with a very attractive starting bid and a favourable overall economic environment, makes it an ideal opportunity for collectors to acquire quality pieces.”

Paving the way

HBAA was formed in 2009 by Long Tian Chek, Lim Eng Chong and Sim’s father, Datuk Vincent Sim.

Recognising that a lack of a strong and transparent secondary art market was hampering the growth of Malaysia’s art collecting and investing scene, property consultancy firm Henry Butcher Malaysia sought to provide an additional avenue for the purchase and sale of art.

“Henry Butcher Malaysia had an auction licence, while my family had the art knowledge and contacts in art,” Sim explains.

HBAA conducted its first professional art auction in 2010, garnering RM1.7mil in sales. The following year, its auction sales hit RM3.17mil.

“By 2012, we were doing auctions twice a year, and a number of other auction houses started coming in,” he recalls. “The art ecosystem here needed an auction house, and we had the privilege of being the pioneers.”

In the 15 years since its inception, HBAA has auctioned more than 3,600 pieces for about RM96mil. It has also carried out art valuations for corporations such as Malayan Banking Bhd, HSBC, Khazanah Nasional Bhd and DiGi, in addition to hosting solo exhibitions for Malaysian artists like Awang Damit, Yusof Ghani, Jolly Koh and Rafiee Ghani.

“One of our main objectives since the start has been to handle and promote Malaysian art,” Sim says, adding that 90% of the pieces auctioned are Malaysian artworks.

Another core aspect of HBAA’s ethos is a commitment towards the highest standards of transparency and integrity.

“We make every effort to ensure the works that we include are authenticated, original and genuine,” he says.

“In a niche industry like art, it is all about earning the trust of clients.”

Spotlighting local artists

As the Malaysian art scene continues to grow, Sim says local interest in art styles and genres has shifted and evolved significantly.

“When we first started, traditional art like batik paintings and Nanyang art did very well,” he shares.

“Today, it is very much the modern abstract works by our senior artists that are in demand. Locals have really come to appreciate abstract art in the last five years or so.”

There’s also a strong sense of national pride seen in the fact that a majority of Malaysian collectors buy and support Malaysian art, he reveals.

He also observes that buyers at HBAA’s auctions are, for the most part, split evenly between art lovers who collect out of passion and personal appreciation, and those seeking to make a strategic financial investment.

He adds that collectors generally tend to be within the 45 to 55 age range, though a younger, affluent breed of art buyers is on the rise.

“Many are influenced by their peers and become interested in renowned local artists and their works through their friends.”

HBAA also works as a consignor for international auction houses such as Sotheby’s and Christie’s. The pieces consigned abroad include high-value artworks by pioneering Singaporean artists like Cheong Soo Pieng, Liu Kang and Georgette Chen.

“By establishing relationships with foreign auction houses, we hope to open up opportunities in the future for Malaysian art to gain international recognition,” Sim says.

HBAA also aims to celebrate the legacy of esteemed local artists through the publication of art books.

“We look forward to relea-sing more books for our Malaysian artists, which will document their artistic contributions and serve as a biography of their life’s work.”