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RM47 Million Hammered In The Creative Economy

The country's auction industry continues to spur the creative economy amidst the global pandemic as paintings, porcelains, relics, stamps , banknotes become long-term investments.

The team at best2bid.com, South East Asia’s bidding platform for valuables and collectibles shares the following statistics, derived from the results of 59 auctions conducted from January 2020 till July 2021.  




Among the most active auctioneers during the period are MNP Auctioneers (Central) Sdn Bhd,  Henry Butcher Malaysia, KLAS Art Auction, Raffles Auction and Wells Auction, amassing over 6,000 lots being hammered at their physical and online auction events.

The following is a summary of the compilation : 

No

Items

Remarks

 

1. 

Period

January 2020 - July 2021

 

 

2. 

Total Realized Price

 RM47,669,677

3. 

Total Realized Price (2020)

RM 28,706,786

 

4. 

Total Realized Price (till July 2021)

RM 18,962,891

5. 

Total Lots Sold

6,436 

 

6. 

Main Items Sought

Antique, Painting, Stamps, Banknotes & Coins

 

7. 

Average Lot Realized Price 

RM 34,966  

8. 

Highest Painting Price Sold

 RM220,000

9. 

Highest Banknote Price Sold

RM76,000 (RM5 - BL1111111-BL9999999, BL10000000 at the Tenth Auction of Malaysian Banknotes with Special Serial Numbers (4th Series)

10. 

Highest Stamp Price Sold

 RM 5,500 

 

11. 

Highest Antique / Porcelain Price Sold

RM 120,000

12. 

Most popular collectible

Banknotes & Coins

Average sold success rate : 83.74% 

3,636 lots sold  

13. 

Second Most popular Collectible

Stamps, average sold success rate : 67.89%

 

14. 

Third most Popular Collectible

Antique, average sold success rate : 62.35%

 

15. 

Top 5 Auction Houses

 

     

 

MNP Auctioneers

Henry Butcher

Raffles Auction

KLAS

Wells Auction


The statistics above proves that the auction industry helps to boost the creative economy and is an opportunity for our country to promote Malaysian arts, culture and heritage onto the world stage.

The country's creative economy contribution towards the Gross Domestic Product (GDP) stands at 2.0 per cent for the last five years, with around one million people being employed in the economy.

While encouraging, this GDP figure is marginally lower when compared to neighbouring countries such as Singapore which has an estimated 2.8% to 3.2% GDP value, USA (7.8%), UK (5%) and Australia (3.3%), indicating that there is much scope for growth in Malaysia.

RMKe-12 perlu persiap negara hadapi 'gangguan'

It is hoped that Rancangan Malaysia Ke-12 also focuses on the auction industry as we look into defining the characteristics of a developed 21st century creative economy for our nation.

If well-nurtured, the creative economy can be a source of structural economic transformation, socio-economic progress, job creation and innovation while contributing to social inclusion and sustainable human development

2019 © Best2Bid Ventures Sdn Bhd

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