Art Works' Troy Sadler talks Singapore's Growing Appetite for Art
Singapore-based gallery and boutique advisory, Art Works turns 10 this year – and it is still growing thanks to the successful introduction of its online gallery this year.
While sectors such as the food and beverage industry are still making attempts to recover from the adverse effects of the pandemic, the global demand for art has been on the rise. And when it comes to the local art market, the Managing Director of Singapore-based art gallery and boutique advisory firm Art Works Group, Troy Sadler, has reasons to be optimistic.
One of the possible reasons for the rise in global demand for art is the larger amount of time that people have been spending at home – there have simply been more opportunities and reasons for people to spruce up the spaces that they have to rest and work in. And art is always a great way for homeowners to express themselves.
Art Works is a company that aims to help these homeowners achieve their goals. With social distancing very much a requirement in recent times, the firm launched an online gallery in March. Pivoting to the digital landscape has become an important part of today’s business model and even the art industry has had to adapt to the new norm. Art Works’ online gallery features contemporary art, fine art and investment-grade pieces in a carefully curated collection.
“The works we deal in are 99 per cent contemporary and oil-on-canvas paintings. We carry a range of international artists from Europe, the US and Asia,” says Sadler.
The aim of the online gallery is to make art accessible to everyone by making the process of buying art less intimidating, especially to those who might believe that art is reserved for the elite – even though art is intersecting with popular culture more than ever before today.
Sadler’s journey to becoming a veteran in the art scene is an interesting one. His first dabbling in the art market came when he got to interact with artists, actors and filmmakers while he was coaching tennis in East Hamptons, New York. Clients at the club he was working for included the late Robert Downey Sr., Robert De Niro, painter Eric Fischl and photographer Ralph Gibson. They would have conversations about art and this piqued Sadler’s interest.
Sadler subsequently asked if he could visit art exhibitions and see what was happening behind the scenes. Those years at the various studios he visited helped Sadler form an understanding of how the art market functioned and that sparked his interest in art as an alternative class asset.
In 2006, Sadler moved to Hong Kong where he set up Platinum Wines and Spirits – alcohol is also an alternative asset class that has gained popularity in recent years. Six years later, in 2012, he founded Blue Sky Artists, which represents international artists and supplies their artwork to galleries and dealers across the Asia Pacific. It was there that Sadler dived full-time into the art market.
While Sadler was dealing with artists, galleries and dealers, he got to know the owner of Art Works and decided to buy out the firm. Art Works was incorporated in 2011 and under his leadership, it has grown steadily through the years. More artists, including emerging and mid-career ones, have picked Art Works to represent them in the region. These innovative artists include Lincoln Townley, Danny Minnick, Igor Dobrowolski, Ma Dongmin and John Paul Fauves.
Then, COVID-19 hit and Art Works was not spared. Physical restrictions meant fewer visitors to the gallery and buying pieces online was still a novel concept for many art collectors. After a period of healthy growth from 2017 to 2019, sales in 2020 plummeted. Sadler and his team persevered and the silver lining came in the form of the online gallery and its drawing interest from Singaporeans.
Sadler is proud that the gallery managed to hit a million in sales in August. He says that buyers in Singapore now contribute to 50 per cent of sales compared to 30 per cent previously. The market here is growing and with better education in art investment, Sadler has witnessed a burgeoning interest in all art forms.
A common question Sadler gets from his clients is if they can sell their artwork a year after purchase. To this, he responds: “Give yourself a minimum of seven to 10 years before selling any artwork.” Art investment requires a long term view and Sadler is frank in saying that Art Works is not keen on working with clients who just want to “flip”. At the end of the day, it is in everyone’s interest to have the artist grow and become more known.
On the topic of digitalisation, Non-Fungible Tokens (NFTs) have been hotly discussed recently and when asked how this will affect the physical art market, Sadler says he welcomes this new form of “art”. He feels that it will help to grow the art market as a whole and yet will never truly replace physical art. Sadler likens their differences to those of digital music and musical instruments. While he believes that NFTs will never replace physical art, Sadler sees them as complementary.
Being one of the most forward-thinking art galleries in Singapore and the region, perhaps it won’t be long before Art Works starts a new series of collaborations with artists to offer blockchain enthusiasts a way to own their favourite artist’s work.
Art Works can be found at artworks.com.sg and @artworks_sg.
