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.

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