Indonesia-based Masterpiece Auction House will host its first auction in Hong Kong featuring Southeast Asian and Chinese modern and contemporary art works this Saturday (March 26).

The public preview will start tomorrow (March 22).

Masterpiece Auction House recently opened an office in Hong Kong to help expand its market share of the growing Asian modern and contemporary art market, said the President Director of Masterpiece Auction Private Ltd,, Benny Oenardi Raharjo.

The company plans to host two auctions in Hong Kong every year showcasing artworks – paintings in particular – by established, emerging and young artists from Southeast Asia and Asia. It will also provide junior painters with an opportunity to introduce their work, which will help increase their international exposure.

“The art market in Hong Kong has been buoyant, with more and more people buying artwork not just for the love of it, but as part of their financial and investment portfolio,” Raharjo said. “Our entry into Hong Kong, a key art hub of the region, will allow Masterpiece Auction House to grab a larger slice of the growing Asian modern and contemporary art market.”

Associate director-general of investment promotion Dr Jimmy Chiang said Hong Kong has a strategic location in the heart of Asia and is close to the Mainland.

“Against this backdrop, art auction houses or related companies in Hong Kong enjoy unrivalled access to a huge number of high net-worth individuals in Asia Pacific, as well as a pool of seasoned art managers, art-specific transportation and logistics support.”

Founded in 2003, Masterpiece Auction House is recognised as one of the leading and the most dynamic auction houses in Indonesia, Singapore and Malaysia. It gives exposure to high quality of fine art, particularly with the vision of developing and raising the national and international exposure of Indonesian art, especially through the medium of paintings.

*Photo: Masterpiece Auction House president director Benny Oenardi Raharjo.