Christies 29 May Southeast Asian Modern and Contemporary Art Sale Results

. May 31, 2011 . 0 Comments

Ruoh-Ling Keong, Head of Christie’s Southeast Asian Modern and Contemporary Art, commented, “The success of this auction exemplifies the exceptional breadth and diversity of the Southeast Asia category. The highly positive reception of the sale shows it struck a solid balance between the two pillars of modern and contemporary art, with significant cross-buying from the regions.

The results of the top two lots, Adrien-Jean Le Mayeur de Merprès’ Temple Festival in Bali, which sold for HK$7,700,000 (US$989,450) and Affandi’s Ayam Jago (Man with a Fighting Rooster), which sold for HK$3,620,000 (US$465,170), demonstrate strong demand for works with impeccable provenance.

A combination of both young and established artists made up the 15 records achieved at the sale. Two records were set in the modern art category: La Piedra IV by Fernando Zobel, which sold for more than four times its pre-sale estimate at HK$1,580,000 (US$203,030), and Anxiety by BenCab, which sold for HK$740,000 (US$95,090). The results for artists fresh to the auction market affirms the department’s connoisseurship and testifies to its grip on the pulse of the market, with records also being achieved for artists such as Filipinos José John Santos III, Patricia Eustaquio and Indonesian artist Indieguerillas. Contemporary art from the Philippines in particular showed an impressive growth, with 95% of the lots by Filipino artists being sold. These excellent results continue to inspire confidence in this market and we look forward to continuing to develop the Southeast Asian art category.”

Image: Zao Wou-ki ‘5.6.63’, sold for HK$1,858,000 / US$2,390,000. Photo: Christie’s Images Ltd 2011

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Category: Fine Art

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