ART gallery director Jazz Chong is among a growing group of affluent collectors who are propelling global interest in modern art.
Instead of forking out millions of dollars to own a Monet masterpiece, Ms Chong, 36, is turning her eyes to the East - Chinese and South-east Asian art.
She is among an emerging group of collectors who are young, professional and well-travelled, with a sophisticated taste for fine art.
Art gallery owners told my paper that their customers are getting younger, compared to, say, 10 years ago, when retirees or those in their 50s formed the bulk of those who appreciate and collect art.
At Ms Chong's gallery, Ode to Art, married couples in their 20s are buying up pieces worth $10,000.
'Young professionals nowadays are more educated. They travel extensively and are exposed to different aesthetics,' she said, adding that lawyers, bankers and businessmen are among her regular clientele.
'They also have more spare cash to spend and are usually more curious about the artists.'
Actor Qi Yuwu, 31, is one example. The Guangzhou native owns four pieces of Chinese artwork worth a five-figure sum. He started collecting them in 2005.
Gallery owner Vera Ong, 50, of Art-2, said that young professionals are more open to contemporary art, which is seen to be avant-garde.
This is one reason why China's new generation of artists is winning legions of admirers, not to mention that the value of Chinese art has tripled in the last five years.
Last month, Chinese artist Zeng Fanzhi's Mask Series 1996 No. 6 fetched HK$75.37 million (S$13million) at a Christie's auction in Hong Kong - a record for contemporary Chinese artwork.
Ode to Art's Ms Chong estimated that her private collection of sculptures and paintings by Chinese artists Chen Wen Ling and Feng Zikai respectively, which cost her a five-figure sum each about seven years ago, are probably worth several hundred thousand dollars each today.
The growing interest is also reflected in the number of art exhibitions here.
According to the National Arts Council, 660 visual art exhibitions were held in 2006, compared to 236 in 1996.
Besides Chinese art, those from the region are also gaining popularity among young collectors, and their value is appreciating.
Established names likeMasriadi and Hendra Gunawan, both Indonesian, are seeing their works rising 10-fold in value over the past two years. Vietnamese art is also gaining ground.
Artist Le Quoc Viet, who described his works as 'reflections of modern Vietnam's soulless culture', sold his wood carving, Auspicious Day, Auspicious Hour (2001), to the British Museum f o r US$25,000 (S$34,045) a few years back.
Asked to predict future trends, Singapore's Cultural Medallion recipient Chua Soo Bin, 76, said that Korean pop art could be the next new wave.
Home-grown artists Vincent Low and Tay Bak Chiang are also some of the names to watch, he said.
But despite talk of value appreciation, Mr Chua said that a collection should be built around what one likes, rather than the artworks' investment potential.
He felt that 'enjoying what you buy is important'.
Agreeing, Ms Chong said: 'Art is art. It is not logical like commodities or shares, which you know will appreciate 10 years down the road.
