Larasati's co-founder and president Daniel Komala wants to turn art auctions into friendly, accessible events for the masses — in Asia and beyond.

Daniel Komala, co-founder and president of Larasati, a nine-year-old fine art auction house with bases in Jakarta, Singapore and Hong Kong, is making it his mission to change perceptions in Asia that bidding for art is an intimidating business. Hoping to build his company into the Asian brand name equivalent to Christie's and Sotheby's in the West, Komala nevertheless believes in holding auctions, previews and outreach programmes that exude a warm, friendly vibe for the masses.

In 2000, Komala and two friends set up Larasati in Indonesia, with capital of about US$100,000. Back then, the outfit had two full-time appraisers. Since then, its staff has grown to about 20 members, such as five in-house art experts. It also works with a network of independent consultants, who include art academics, curators and senior collectors. Last year (2008), the auction house achieved total sales of some US$8 million - an 11 per cent growth from the year before (2007). And Komala hopes to make that figure at least 10 times bigger in time to come.

The company has an international sales room in Amsterdam and is eyeing the European market; with plans to hold its first Asian contemporary art sale in London by next year.
"Three to five years ago, this would've been impossible," says Komala of his chances of cracking the European art market. "Today, markets all over the world, because of the economic tsunami, are looking for something new. The works of established Chinese artists have become too expensive for some, so Asian artists from other countries stand a chance of getting better exposure."