On October 30, Singapore-based art investment firm Art Works, which also runs a gallery and advisory, abruptly ceased operations and entered liquidation, as confirmed by public records. The sudden closure has left staff unpaid and artists uncertain about the status of their artworks, which remain in the company’s possession.
Incorporated in 2011 as Art Index International, the firm claimed to be Asia’s first platform for trading fractional ownership of fine art. It rebranded as Art Works in 2017 and launched a gallery at One Holland Village in December 2023.
The day following the liquidation, a notice at the gallery entrance stated that it was “closed for private event.” Inside, artworks from the group…