The Undercutting Edge

The soaring value of contemporary Chinese and Vietnamese art has been one of the art world's most widely documented phenomena of recent years. But if you're a would-be collector who feels priced out of the market, is there anywhere else to look? Try Indonesia. The archipelago's artists represent extraordinary value in comparison to the record-breaking sums trading hands at Asian art auctions these days. And they're talented too. "Contemporary Indonesian art is now on the map," says Deborah Iskandar, Christie's representative in Indonesia.

Pricing aside, why has the country's art output suddenly become so attractive? There hasn't been...