SINGAPORE, July 9 — Art fairs in Singapore are facing tough times, with at least two fairs scaling back offerings in the last year.

The latest to announce a cutback is the Affordable Art Fair (AAF). After lacklustre participation and sales, organisers have decided to cut back its bi-annual shows from next year. This comes four years after introducing the first spring edition of The Affordable Art Fair in 2014. Last Tuesday (July 4), organisers said it will revert to a single Autumn edition from 2018.

The AAF also reported a decline in sales at this year’s spring edition of the international art fair, recording S$1.9 million (RM5.9 million) in sales, down from S$2.3 million at last year’s Spring Edition. The number of galleries that will be participating at this year’s autumn edition in November has also dropped to about 60, from 86 galleries last year.

The AAF is an international contemporary art fair held in cities around the world, and first arrived in Singapore in November 2010. It subsequently launched its Spring edition in 2014. The Spring Edition of AAF is intended to present a smaller and more intimate version of its autumn version. At the final spring edition of AAF held last April, 42 local and international galleries and 300 artists were featured.

The AAF’s Regional Managing Director for Asia Camilla Hewitson said: "The drop (in sales) reflects the softer side of the market currently that much (of) retail is experiencing in Singapore.”

However, she added: "The figures show a decrease in the total value but the number of artworks sold was slightly more in Spring 2017, which has reinforced to us that the affordability angle of our fairs is paramount to gallery success and having a wide range of artworks at all price points is key.”

The art works at AAF are priced from S$100 to S$15,000, with 75 per cent of the art offered at under S$7,500. The price ceiling for art pieces at the fair was increased from S$10,000 in November 2016, a move fair organisers said was meant to allow a more inclusive showcase for mid-career artists.

On the falling number of participating galleries, Hewitson said: "Whilst the number of galleries may be lower, the fair itself remains the same size. If we see that there is a demand to increase the number of galleries again after this Autumn fair, we will adjust as we need to.”

Nevertheless, the AAF organisers remain optimistic. The move to drop the Spring edition in Singapore is due to feedback from galleries, visitors and local stakeholders in Singapore that they prefer a single annual art fair, they said.

"We have spent a great deal of time talking to galleries, visitors and local stakeholders in Singapore and ultimately people have expressed that they enjoy the anticipation of one annual event in Singapore and look forward every year to the chance to immerse themselves in a wonderful array of art,” said Hewitson.

"We believe that by focusing on one fair annually we are best placed to grow the collecting culture and art appreciation by working with galleries as well as by providing quality education and inspiration for our art lovers,” she added.

The AAF has not been the only one hit by falling demand. Another well-known art fair, Art Stage Singapore, reduced in scale for its seventh edition in January this year with fewer exhibitors and visitors.

Visitor numbers fell from 40,500 visitors last year to 33,200 visitors this year and 39 galleries decided to sit out this year’s fair. Last year, 170 galleries participated at Art Stage Singapore, while this year saw 131 galleries participating.

According to Lorenzo Rudolf, founder and president of Art Stage Singapore and Jakarta, regional support is needed to be success.

"An art fair in Singapore, especially if it has certain serious and quality ambitions, can never depend on Singapore alone. To be successful, you need the support from collectors of the region.

"Organising an art fair in Singapore without Southeast Asian, regional support, is like (suicide), there is no chance,” Rudolf opined.

He added: "We can only make Singapore into a respected place for art if we finally understand that we should support each other.”

Meanwhile, Singapore Contemporary, a relatively new mid-priced art fair that made its debut during Singapore Art Week in January 2016, and appears to have bucked the trend.

It reported an uptick in visitorship by 40 per cent this year and participating galleries increased from 65 in its inaugural year to 90 this year.

When asked about a 2018 fair though, co-founder of the fair Douwe Cramer was non-committal, only saying: "We’ll see how things go.” — TODAY

*The Affordable Art Fair runs from November 17-19, 2017 at the F1 Pit Building.