Saffronart, India’s leading auction house for Modern and Contemporary Indian Art, will host its annual Winter Online Art Auction on December 9-10, 2009. Presenting 100 lots of exceptional quality and provenance by 51 leading modern and contemporary Indian artists, the sale will take place online at www.saffronart.com.
The auction catalogue includes paintings, drawings and sculptures by […]
Christie’s auction of International Modern and Contemporary Art in Dubai realised $6,736,475 / AED 24,722,863 / €4,526,911, and was 72% sold by lot and 74% sold by value. The top lot of the sale was “Remembrance and Gratitude”, a large and spectacular diptych by Ahmed Moustafa (b.1943), which sold for $662,500 / AED 2,431,375 […]
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Dubai Auction of International Modern and Contemporary Art Realizes $6.7 Million
Ravenel Art, once again, has set the standard for auctions of modern and contemporary Asian art with outstanding results at its Taipei Spring auction on Sunday June 7, 2009. The total amount realized at the auction was 212, 804, 000 NT Dollars, 6, 507, 768 million US Dollars including commission. 77.7% of lots were sold, 136/175, with a value of lots sold at 111.4%. A truly great result in today’s market.
A very positive reaction to the works on offer during the Taipei preview on Friday and Saturday, and the reasonable estimates in the catalogue raised expectations that the auction would deliver strong results. The auditorium was crowded before the auction on Sunday with around 600 people in attendance. A large number of written bids had also been submitted along with many telephone bids from around the world. The auction started on a very high note with the early lots attracting strong bidding and this was to set the tone for the whole auction.
The highlight of the afternoon was Wang Huaiqing’s ‘Flying Apsaras’ Triptych, which fetched 43, 760, 000 NT Dollars, 1, 338, 226 US Dollars including commission. A magnificent work of abstract expressionism, ‘Flying Apsaras’ is imbued with oriental religious awesomeness, with visualized figures of flying goddesses and heavenly beauties. ‘Ferry Boat’, a work by the most respected Taiwanese artist, Liao Chi-chun, brought in 24, 160, 000 NT Dollars, 738, 838 US Dollars including commission. One of his celebrated great paintings, ‘Ferry Boat’, is a lively and gorgeous representation of a traditional harbor scene in Taiwan, celebrated in soft and beautiful colors, changes of light, shadow, and wonderful tones.
Another highlight was Cai Guo Qiang’s ‘Art Shopping Network’ which was bought for 16, 520, 000 NT Dollars, 505, 199 US Dollars including commission. A collaborative work created with Tsai Kang-yung a famous Taiwan TV personality, the piece was made in Taiwan as an exploration of the commercialization of art. Famous for his ‘explosion art’, Cai blew up ‘Golden Yuan Bills’ which had been issued in 1948 by the Nationalist Government of China in an attempt to control inflation which miserably failed. These ‘blown up’ bills were then sold on a TV shopping network, treating art as a commodity. The work on offer today is the original three panels on which the bills were exploded along with a video of the ‘selling on TV’.
A work by the pioneer of Chinese abstract painting, the Chinese-French artist Zou Wou-ki realized 9, 204, 000 NT Dollars, 281, 468 Dollars including commission. The work, titled 28.4.75, is dominated by orange-yellows and golds, the earthy and sunny colors used by Zou in the 1970s as a refection of his search for warmth and tranquility as he dealt with the grief of losing his wife in 1972. ‘Effusion’ by Chu Teh-chun, another leader of Chinese abstract painting, and also a Chinese-French artist, fetched 6, 372, 000 NT Dollars, 194, 862 US Dollars including commission. A master of incorporating rays of light dancing among blocks of bright and brilliant reds, yellows and blues, Chu dazzles the viewer with multifaceted layers of space and color.
Some works easily beat their high estimates. In the contemporary Chinese section, ‘Portrait’ by Zeng Fanzhi, a study of an isolated and alone half-figure with his mask removed, brought in 4, 956, 000 NT Dollars, 151, 560 US Dollars including commission against a high-estimate of 3 million NT Dollars. ‘Golden Sunshine’, a wonderfully evocative study of a young Western Chinese girl in traditional garb bathed in sunlight realized 5, 428, 000 NT Dollars, 165, 994 US Dollars including commission against a high-estimate of 4.5 million NT Dollars.
Works by two of the great modern Chinese masters, Sanyu, and Lin Fengmian saw very heated bidding and strong prices. Lin Fengmian’s cubist influenced ‘Still Life with Flowers and Fish’ his most important still-life was bought for 3, 776, 000 NT Dollars, 115, 474 US Dollars including commission, a remarkable price, beating the high-estimate of 2.8 million NT Dollars. Sanyu’s dramatic watercolor, ‘Nude’ fetched 1, 770, 00 million NT Dollars, 54, 128 US Dollars including commission, a spectacular result against a high-estimate of 900, 000 NT Dollars.
Works by Taiwanese artists saw tremendous results showing the market remains strong for the individualistic and creative works by these unique artists. Three expressionist works by Michell Hwang all topped their high-estimates with ‘Woman with Cat’ doing particularly well. Two pieces by Tzu-chi Yeh also did very well. His ‘Taimali-Taitung’ a signature celebration of the luscious nature seen in the semi-tropical Taiwan sold for above its high estimate. An earlier atmospheric still life of a flower, ‘Monologue’ also easily passed its high-estimate.
Japanese and Korean artists maintained their popularity with strong bidding seen for many pieces. Mayuka Yamamoto’s soulful ‘Red Lamb’ was particularly appealing to families and beat its high-estimate. Three works by Yoshitaka Amano saw intense bidding with a wide interest from the Asian region. Two pieces by Ayako Rokkaku both beat their high-estimate and saw very competitive bidding. Two paintings and one sculpture by Korean artist, Kwon Ki Soo also attracted major bidding fetching high prices.
Results for Indonesian, Indian, Malaysian and Philippino artists suggest that art from South-East Asia is going to continue growing from strength to strength at auction. Works from this region saw active and intense bidding from buyers throughout the Asian region.
Ravenel Art, in its tenth anniversary year, has shown that with its strong reputation, professionalism, and stellar client base, that even in tough economic times, there is still a market for high quality art works.
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Ravenel Art 10th Anniversary Spring Auction of Modern and Contemporary Asian Art Results
Ravenel Art, once again, has set the standard for auctions of modern and contemporary Asian art with outstanding results at its Taipei Spring auction on Sunday June 7, 2009. The total amount realized at the auction was 212, 804, 000 NT Dollars, 6, 507, 768 million US Dollars including commission. 77.7% of lots were […]
Seoul auction, Korea’s leading auction house, held its Modern and Contemporary Art sale in Hong Kong on 15 May, 2009 and achieved a total of HK$42.8 million (US$5.47 million). Tranquility from the renowned British artist Damien Hirst’s celebrated Butterfly Series achieved HK$13.37 million (US$1.71 million), becoming the most expensive work by Damien Hirst ever sold at auction in Asia. A new world auction record for a sculpture by the Japanese artist Yayoi Kusama was also established.
Misung Shim, Managing Director, Seoul auction Hong Kong Ltd, commented: “We are delighted with the results achieved today. We assembled this second Hong Kong sale with a carefully curated selection of both Western and Asian art works and the prices achieved demonstrate that works of high quality, fresh to the market, and with reasonable estimates are highly sought after by collectors. Despite the current economic climate, the market remains healthy and steady. Many lots sold above their estimates and there was active participation by buyers from Hong Kong, Taiwan, Japan, Korea and Southeast Asia, as well as from Europe and America.”
“We are particularly pleased that the top lot by Damien Hirst was sold to an Asian buyer. Seoul auction played a pioneering role as the first auction house to offer Western masterpieces in Hong Kong in its debut sale last October. Today, the Western, Japanese and Korean sections of our sale performed especially well. The sale not only underlines the role of Hong Kong as the leading market for Asian contemporary art, but is also a good indication that Hong Kong is now a growing market for Western contemporary art, along with New York and London.”
The top lot of the sale was Tranquility by Damien Hirst from his highly acclaimed “Butterfly” series, which sold for HK$13.372,000 (US$1.71 million) to an Asian collector on the telephone and became the most expensive work by Hirst ever sold at auction in Asia. This was the first time that a work by Damien Hirst had been offered at auction in Hong Kong, and also the first time that a work from his “Butterfly Series” had appeared at auction in Asia.
The butterfly is a symbol of eternity and resurrection in both Western and Oriental cultures. Damien Hirst applies live butterflies to the canvas to present his ideas of life and death. Executed in 2008, Tranquility appears like a Mandala or kaleidoscope, a huge canvas with countless butterflies spreading outwards. The butterflies are dead but immortalized on the painting. Hirst thus expresses his belief that neither religion nor science, but only art remains perpetual.
Two sculptures by acclaimed Western masters also achieved excellent prices. Reclining Woman by the Colombian artist Fernando Botero depicting a Greek goddess fetched HK$1,244,000 (US$159,079) while L’Oiseau Amoureux by the French artist Niki de St. Phalle realized HK$448,500 (US$57,353) after spirited bidding.
Leading the Japanese section was Yayoi Kusama’s Venus No. 1, Statue of Venus (Obliterated by Infinity Nets), which realized HK$3,596,000 (US$459,847), setting a new world auction record for a sculpture by the artist. Kusama has become a legend in Japanese contemporary art. Dating from 1998, this is one of the most important pieces in her “Infinity Nets” series. The red monochromatic web-like patterns go beyond the surface of the canvas into the three-dimensional space of the sculpture.
Another remarkable work, Dots Obsession by Yayoi Kusama, was highly sought after and finally sold for HK$1,076,000 (US$137,596).
The Girl in Green by the leading contemporary Japanese artist Yoshitomo Nara realized HK$1,468,000 (US$187,724). Nara is influenced by Japanese comic books (anime and manga) and American pop culture. He uses cartoonish lines to depict dreamy-eyed children who look cute and vulnerable, yet at the same time mischievous or even malevolent.
There was very active bidding for works by young, up-and-coming Japanese artists, including Izumi Kato’s Family which achieved HK$773,600 (US$98,926) and Hiroto Kitagawa’s Hyuga Takuto which sold for HK$276,000 (US$35,294), well above their pre-sale estimates.
Among the wide diversity of Korean art works offered in the sale, From the Line by Lee U Fan achieved HK$1,580,000 (US$202,046) after competitive bidding. This work is perhaps the most highly regarded in his oeuvre, as it unveils his artistic theory through a focus on existence, extinction and continuous formation.
Another highlight was Gouttes d’eau A6 by Kim Tschang Yeul which realized HK$1,020,000 (US$130,435). Mixed media works with Korean paper by Park See Bo and Chun Kwang Young also achieved strong prices.
Works by emerging Korean artists performed particularly well today, including Joon-suk by Yi Hwan Kwon that sold for HK$706,400 (US$90,332) and Red River by Kwon Ki Soo which realized HK$207,000 (US$26,471).
Among the highlights of the Chinese section were Chinese Fairytale, Meeting Series by Tang Zhigang which realized HK$1,804,000 (US$230,691), and Taichi (Taiji) Series- Sparring by Zhu Ming which sold for HK$1,020,000 (US$130,435).
Super Soccer Player by Indonesian artist I Nyoman Masriadi, which reflects the artist’s strong political ideas and his passion for life, realized HK$1,132,000 (US$144,757). Bad or Good, Indonesia is My Homeland by Agapetus A Kristiandana sold for HK$299,000 (US$38,235). Somnium Genero 06 @0230 HRS by the Indian artists Thukral & Tagra sold for HK$ 253,000 (US$32,353).
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Hong Kong Modern and Contemporary Art Sale Realizes HK$42.8 Million
