We live in changing times. And if there's one thing changing times are good for, it's art. No, not the market for art, which may very well tank. It's the quality of art that could scale new heights.

Periods of upheaval and rupture have always produced artworks that jolt the heart and sear the memory - Picasso's Guernica and Goya's Third of May are two extreme examples. Artistic creation often thrives even as its commerce suffers. So 2009 may well prove to have a few treasures in store.

'Paintings and photography that address social, economic and political issues will rise to the fore,' said Valentine Willie, founder of the VWFA galleries across South-east Asia. 'They will reflect the concerns of the public at a critical juncture in our history.'

Bridget Tracy Tan (pictured left), director of art and corporate knowledge at the Nanyang Academy of Fine Arts (NAFA), said 'socio-political commentary will continue to make its mark' on art from the region.

'The economy is in the doldrums and capitalist culture is held responsible,' she said. 'You will find this subject matter seeping into artworks in whatever guise. It doesn't have to be obvious, just culturally sublimated into a subaltern of frustration and expression.'

For Singapore art in particular, artists are looking at more 'socially conscious' works, she said. The new year in art, she predicted, would be 'radical, dark and humorous'.

That said, gallerists, curators and auctioneers aren't exactly hopping and skipping about in glee. They have a business to run, and the artworks they choose to represent, however original or seminal, must sell.

'Challenging, challenging, challenging,' were the words Opera Gallery's Stephane Le Pelletier chose, when asked to give three adjectives to describe the coming 12 months. 'Over the last few years of boom times, art has been flourishing, so perhaps a market contraction is due.'

Jasdeep Sandhu (pictured left), owner of Gajah Gallery, said he anticipates a 'period of consolidation'.

'The first test for the market will be in April when Sotheby's and Christie's hold their auctions,' he said. 'We think by then the market will be strong enough to sustain the prices achieved earlier last year. We see a pick-up late this year.'

VWFA's Mr Willie is more bearish. 'This economic climate is likely to last at least two years and art, which is considered a luxury, will see a huge slowdown,' he said.

Still, galleries, curators and museums are pushing ahead with several major shows. The Singapore Art Museum's first new exhibition of the year will be a solo on Wu Guanzhong, consisting of the largest artifact donation it has ever received, a total of 113 works. The museum plans to end 2009 with a show of Mexican modern art that will feature, among others, Alberto Fuster and Diego Rivera.

Opera Gallery will kick off the year with a show of European art called Rhapsody, opening on Jan 9. The gallery is also bravely expanding its presence. Later this year, when Ion Orchard opens, it will be occupying 8,000 square feet of exhibition space within the massive building.

Pwee Keng Hock of Utterly Art, a fervent supporter of Filipino art, said his gallery has lined up its 'most desired Philippine artists' for the year. For Philippine Art Trek in June, a month-long celebration organised by the Philippine Embassy, the gallery will showcase Jose John Santos, Kiko Escora and Melvin Culaba.

VWFA's Singapore gallery will hold solo shows of major regional artists, including Malaysian Jalaini Abu Hassan, Filipino Don Sulabayba, and Indonesians Dadang Christanto and Yusra Martunus.

Fost Gallery, meanwhile, plans to introduce several artists from Australia, as well as host solo exhibitions of glass artist B. Jane Cowie and portrait artist Namiko Chan Takahashi.

Singapore Art Museum deputy director Suenne Megan Tan said that, given the financially stringent times, the arts sector will be kept constantly on its toes in matters of securing sponsorships and funding.

'We will probably see more artists coming together to collaborate, in cross-disciplinary ways, in order to maximise resources,' she said.

Some even view the economic challenges as a plus for the art market as a whole.

'It's not a bad thing, as artists can now reflect and work on their best as buyers become more discerning,' said Opera's Mr Le Pelletier. 'Retrospection and innovation should be the order of the year.'

Utterly Art's Dr Pwee thinks the global crisis will help flush out the more mediocre elements from a market which he describes as having a 'surfeit of art'.

'I think 2008 came off as the peak of a good boom market, where anything and everything was being offered,' he said. 'It seemed too much to take in at one go.'

The prospect of greater discernment among both artists and collectors, even one necessitated by economic lean times, is one greatly welcomed by Fost's Stephanie Fong.

'Buyers are asking more in-depth questions about the artists, the genre, and so on,' she said. 'It is such a refreshing change from questions about colours to match sofas and curtains.'

This article was first published in The Business Times on Jan 2, 2009.