Christies to Open Art Storage Facility in Singapore

Art Daily is reporting that Christie's is opening a large art storage facility in the freeport section of Singapore's Changi airport. The freeport facility will allow the transfer, and storage options for customers of Christie's. The facility is supposed to be state of the art, including advanced climate control and security devices. Christie's is taking nearly 40% of the space int he facility and is expected to court Asian, Russian and Middle Eastern collectors.

The ArtDaily post is rather short, so a cut and paste of the announcement will work. Singapore is battling Honk Kong to be the market leader in Asian fine and decorative arts.

Leading art business Christie’s International announced that Christie’s Fine Art Storage Services (CFASS), provider of customized storage solutions for fine art, antiques and collectibles, will open a new ultra-high security facility at The Singapore FreePort in January 2010. This long-term offering with The Singapore FreePort Pte. Ltd. underscores Christie’s commitment to Singapore and marks the firm’s continued investment in Asia.

The Singapore FreePort, supported by the Singapore Economic Development Board (EDB), is the largest freeport dedicated to the storage of fine art and high value collectibles in the world, and the first in Asia. Its shareholders include the Singapore National Arts Council and the National Heritage Board of Singapore. Through the long-term contract between CFASS and the Singapore FreePort Pte Ltd., the CFASS Singapore facility will comprise roughly 40% of the FreePort’s Phase 1 floor area available for lease, out of approximately 22,500 square meters gross floor area, with an option to add capacity in Phase 2 when it is completed in early 2014.

Located at Changi Airport, CFASS Singapore at The Singapore FreePort allows for the rapid and safe transfer of fine art, collectibles, and other valuables. Offering cutting-edge security technology, strong rooms and storage solutions ranging from single item storage for individual items and small collections to fully-managed exclusive units ranging from 10 square meters to very large spaces, the world-class facility of CFASS Singapore at the Singapore FreePort offers services and infrastructure that are unmatched anywhere in the world. In addition to fully customized storage solutions, CFASS Singapore will offer enhanced services designed to accommodate the growing needs of a diverse clientele, whether they need to store a single object or an entire storage room to hold a substantial collection.

Mr Andy Foster, Chief Operating Officer of Christie’ s International and President of Asia, said, “The opening of CFASS Singapore and our agreement with The Singapore FreePort Pte Ltd underscore Christie’s long-term commitment not only to Singapore, but to our business in Asia. This facility stands as the most advanced of its type in the world, and the services that it provides clients not only in Asia but around world make it the perfect partner for international fine art collectors, dealers, institutions and others looking for a safe, stable and secure location to store and trade valuable collections. And by providing for additional sophisticated services in the future, CFASS Singapore will meet the complex needs of its global clientele. ”