Indonesian Art Soars at Hong Kong Auction – artmarketblog.com
On the 26th of November 2011, an auction was held in Hong Kong of Modern and Contemporary Art that produced results which allude to a continued desire for the work of the top modern and contemporary Indonesia artists. The auction was held by United Asian Auctioneers, “a consortium of four of Asia’s leading modern & contemporary Asian art auctioneers – Asian Art Auction Alliance (A|A|A|A) the overseas arm of Japan’s Shinwa Art Auction, Korea’s K-Auction, China’s Beijing Hanhai Auction Co. and Singapore’s One East Larasati”, and included works by a range of artists from China, Japan and South East Asia as well as works by Western artists such as Warhol and Dali.
The top price of the auction went to the young Indonesian artist Handiwirman Saputra whose witty surrealist style painting, Pose No. 6 – Sofa, sold for HK$870,000 against an estimate of 700,000 – 1,200,000 HKD. Solid support from the cultural sector combined with the nature of his work, which appeals to both Western and Eastern collectors, seems to have shielded Handiwiriman’s prices from the effects of the financial crisis. Falling just short of the price achieved for Handiwiriman’s work but selling much closer to the high estimate was lot number 21, Masih panas (Still hot), a large acrylic on canvas by Indonesian artist Nyoman Masriadi. Estimated to sell for 500,000 – 900,000 HKD, Masriadi’s painting fetched a final price of HK$840,000. The first solo exhibition of Masriadi’s work was held at Paul Kasmin Gallery from April to May 2011 which would have significantly aided the artist’s reputation and helped justify the high prices paid for his work.
A work by one of Indonesia’s more senior artists, S. Sudjojono, took the third highest price of the auction with his emotive painting Tiga orang majus. Given an estimate of 600,000 – 800,000 HKD, Tiga orang majus sold for a fantastic HK$720,000 – the third highest price achieved for Sudjojono’s work at auction. Falling just short of the second highest auction price of USD 108,318 (841,247.13 HKD) achieved for the painting Gunung Gede dan Pangrango, as sold by Singapore’s Masterpiece Fine Art Auction house in November 2011, the price achieved for Tiga orang majus is evidence that the desire for Sudjojono’s work remains strong post financial crisis.
To be continued……..
image: Tiga Orang Majus ( The Three Wise Men) by S. Sudjojono
**Nicholas Forrest is an art market analyst, art critic and journalist based in Sydney, Australia. He is the founder of http://www.artmarketblog.com, writes the art column for the magazine Antiques and Collectibles for Pleasure and Profit and contributes to many other publications.
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