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Posts Tagged ‘Filipino art’

Top 20 Asian artists June 2010: Art Radar Asia’s most-searched artists

Posted by artradar on July 26, 2010


TOP ASIAN CONTEMPORARY ARTISTS

In January this year, we published the article, “Top 17 Asian artists 2009: Art Radar’s most-searched artists, listing Art Radar Asia‘s most searched for artists to the end of 2009. This was so popular with our readers that we have decided to publish these results again. This list below highlights artists searched for between 30 June 2009 to 30 June 2010.

Takashi Murakami

Takashi Murakami

Art Radar Asia receives an average of 27,000 page views a month. Our readers come to us in various ways: via links from other websites, from Twitter, facebook and other social media, from our email newsletter, from word of mouth referrals and, of course, via search engines.

Many readers find us by typing a specific artist name into Google or another search engine and finding a story written or image published by Art Radar Asia. Our analytics package tracks these search terms for us and we thought you might be interested in this data, too. The search terms used by readers when finding each artist are varied. For example, common search terms recorded for Japanese artist Takashi Murakami included: “takashi murakami”, “murakami”, “murakami takashi”, “takashi murakami art” and “takeshi murakami”.

Art Radar Asia‘s 20 most searched artists – the list

We can’t claim that this list is a reliable proxy for the most-searched Asian artists on the Internet overall (take a look at our notes at the bottom of this article). However, we do think the list throws up some fascinating data, particularly when compared with the 2009 results.

  1. Takashi Murakami – male Japanese anime painter and sculptor – 36,086  searches (34,000, December 2009)
  2. Shirin Neshat – female Iranian photographer – 4,532 searches (2,200, December 2009)
  3. Anish Kapoor – male British-Indian sculptor – 4,246 searches (3,500, December 2009)
  4. Marina Abramović – female New York-based Serbian performance artist – 3,092 searches (not listed, December 2009)
  5. Yoshitaka Amano – male Japanese anime artist – 829 searches (460, December 2009)
  6. Cao Fei – female Chinese photographer and new media artist – 672 searches
  7. Terence Koh – male Canadian-Chinese photographer, installation and multimedia artist – 634 searches
  8. I Nyoman Masriadi – male Indonesian painter – 625 searches
  9. AES+F – Russian photography and video collective – 521 searches
  10. Hiroshi Sugimoto – male Japanese photographer – 503 seaches
  11. Subodh Gupta – male Indian painter, installation artist – 417 searches
  12. Ori Gersht – male Israeli photographer – 408 searches
  13. Ronald Ventura – male Filipino painter – 393 searches
  14. Farhad Ahrarnia – male Iranian thread artist – 377 searches
  15. Farhard Moshiri – male Iranian painter – 363 searches
  16. Jitish Kallat – male Indian painter – 329 searches
  17. Gao Xingjian – male Chinese-French ink artist – 301 searches
  18. Bharti Kher – female Indian-British painter, sculptor and installation artist – 270 searches
  19. Shahzia Sikander – female Pakistani miniaturist – 264 searches
  20. Zhang Huan – male Chinese performance artist – 237 searches

How has the top 5 changed?

As with the last list, published at the end of 2009, Takashi Murakami is still holding the title spot with more than 36,000 searches. This is compared with 34,000 in 2009’s list. Shirin Neshat and Anish Kapoor have switched places since the previous list, although the difference between their numbers is somewhat insignificant. Yoshitaka Amano is new to the top 5, moving up to 5th place from 6th place in 2009, perhaps due to the 2010 announcement that he has established a film production company called Studio Deva Loka, in addition to directing a 3D anime named Zan. These announcements followed a small solo tour of his artwork. Marina Abramović has surged into the top 5 this time around, particularly notable as she did not appear on the 2009 list. This is most likely due to her 2010 MoMA exhibition, “Marina Abramovic: The Artist Is Present”.

Marina Abramovic, 'Happy Christmas', 2008, silver gelatin print, 53.9 x 53.9

Marina Abramovic, 'Happy Christmas', 2008, silver gelatin print, 53.9 x 53.9

How has the list changed since it was first published?

The following artists have returned since the 2009 list was published, but many have moved up or down by one or two places: Cao Fei (4, 2009); I Nyoman Masriadi (5, 2009); Ori Gersht (7, 2009); Terence Koh (8, 2009); AES+F (9, 2009); Ronald Ventura (10, 2009); Hiroshi Sugimoto (11, 2009); Farhad Moshiri (12, 2009); Subodh Gupta (13, 2009); Farhard Moshiri (12, 2009) ; Farhad Ahrarnia (14, 2009); Gao Xingjian (15, 2009); Jitish Kallat (16, 2009).

There are some new additions: Marina Abramović, perhaps due to her 2010 MoMA exhibition, “Marina Abramovic: The Artist Is Present”; Shahzia Sikander, whose medium has recently become popular with collectors and critics and who has herself surged into prominence with a win at ART HK 10 ; Bharti Kher, whose works are currently auctioning for large sums; and Zhang Huan, who has had a number of permanent sculptures installed in US cities this year, and whose company designed the permanent public sculpture for the US pavilion at the 2010 Shanghai World Expo.

Only Chinese ink artist Wucius Wong doesn’t reappear. His surge in popularity in 2009 may have been due to the retrospective exhibition, “Myriad Visions of Wucius Wong“, at The Art Institute of Chicago.

Preferred media of most-searched artists: miniatures and performance art rising in popularity

Most of the arists work in various media but in this list we have tagged them with the media they are best known for. Six of the artists are known primarily for painting, compared with only five in the 2009 list, and once again, this list is dominated by photographers, new media artists and sculptors. Miniature painting and performance art seem to be new topics of interest for readers.

Artist Age

Most of the artists were born in the 1960s and 1970s, as you would expect for a contemporary art website.

Interestingly, Shirin Neshat (Iranian photographer), Anish Kapoor (British Indian sculptor), Marina Abramović (Serbian performance artist), Yoshitaka Amano (Japanese anime), all born before 1960, were listed as number 2, 3, 4 and 5 respectively. Of course, due to their age and time spent working in the arts, they each have large bodies of work which are consistently being exhibited, collected and discussed.

Artist Gender

male 14 (13, 2009); female 5 (3, 2009); mixed collective 1 (1, 2009)

In the year to June 2010, there were more female artists on the list though men still dominated (approx. 75 percent). Those female artists who were on both lists appeared higher up this year than last.

Breakdown of artist nationalities

Chinese 4 (4, 2009); Indian 4 (4, 2009); Iranian 3 (3, 2009); Japanese 3 (3, 2009); Serbian 1 (not listed, 2009); Israeli 1 (1, 2009); Indonesian (1, 2009); Filipino (1, 2009); Russian (1, 2009)

As you can see, this result is almost identical to the previous result, with the edition of one Serbian artist (Marina Abramović, Serbian performance artist). Once again, artists from China and India are among the most searched nationality, despite fears the Indian art market would be slow to recover after the 2008-2009 global art market turndown.

Shahzia Sikander working on a mural in the USA.

Shahzia Sikander working on a mural in the USA.

Notes
This list is not a reliable proxy for the most-searched artists on the internet overall. Here is why: If we have not written a story on or tagged this artist, the search engines will not bring us traffic for this search term and it won’t appear on our traffic analysis stats page. As we have only been up for 18 months it is quite possible that we have not yet covered some higly-searched artists. And even if we have referenced an artist on our site and the artist is highly-searched, the searcher will not come to us unless we have a good page ranking for the story on the search engine.  For example if the story is, say, after page 4 of the search engine results, the searcher probably won’t find our story and will not appear in our stats. Despite these limitations the data is likely to be a reliable indicator for certain trends. Finally even if we have a story and the story is well-ranked, it may be that other stories on the same page are more alluring than ours and readers do not find their way to us.

KN/KCE

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Posted in From Art Radar, Lists | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

New auction houses with new strategies open in Singapore art market

Posted by artradar on October 28, 2009


ASIAN ART MARKET TRENDS

Usually, to be a part of the bubbling Asian art market scene, buyers need to associate themselves with industry leaders Christie’s and Sotheby’s for lack of other options. In South East Asia, however, there’s a new way for collectors to discover their contemporary art. According to a recent article by the New York Times, a host of new and smaller auction houses—such as Borobudur, 33 Auction, and Larasati in Singapore—have successfully emerged to “fill in the gaps” of the market, which means they are opening their doors to a broader range of the market, from high-end collectors to first time buyers. So far, sales suggest this may be the right strategy to entice new buyers:

“Last week, sales by two auction houses in Singapore, Borobudur and 33 Auction, brought in a combined $10 million, with the larger sale, by Borobudur, easily beating its pre-sale estimate. Later this month another Singapore auctioneer, Larasati, will offer 160 lots of Asian modern and contemporary art with an estimated value of 2 million Singapore dollars, or $1.4 million.”

A.C. Andre Tananma, "Run Away" 2008. Part of Larasati's Asian Modern and Contemporary Art auction in Singapore on October 25th, 2009.

A.C. Andre Tananma, "Run Away" 2008. Part of Larasati's Asian Modern and Contemporary Art Auction, Singapore, 25 October 2009.

Many of the new auctions houses have developed as off springs from established galleries, such as 33 Auction (Singapore), Maestro Auction House (Jakarta, Singapore) and Kingsley Art Auction (Beijing), as a way of broadening their offerings to current clients, while also becoming accessible to new ones:

“Like everything else, the art market is not immune from the global recession and consequently sales at most galleries have been down for the past 12 months,” said Valentine Willie of Valentine Willie Fine Art, which has galleries in Singapore and Kuala Lumpur, and has in the past helped Borobudur curate its auctions. “Auctions may seem a good way of clearing gallery stock and they offer the possibility for collectors of bargain hunting, especially after the boom of two years ago.”New and smaller auction houses would naturally try to fill in the gaps with more adventurous offerings and lower entry price points because, “the industry leaders, Christie’s and Sotheby’s have a somewhat limited and conservative offering of Southeast Asian art,” Mr. Willie added.”

Some auction houses are targeting the middle class crowd in particular, a demographic rarely cornered by larger and more established auction houses like Christie’s or Sotheby’s. To entice the middle class market, Singapore’s Ziani Fine Art Auction House tactic was to award cash prizes, serve wine, and even offer whiskey tastings at their September 20 debut auction:

“‘When you launch a new business you need to attract new people,” said Frank Veyder, a banker and partner in Ziani, before the auction. “We are very conscious there is a risk that people might think it’s just a fly-by-night, gimmicky house, but we’re holding this auction in a five-star location and we’re offering quality art.

“The pieces are not of the level you would see at Christie’s or Sotheby’s, but we’re not trying to play in that space,” Mr. Veyder added. “Our marketing is targeting to a wider, middle-class crowd.”‘

Though it can be said that the competition between auction houses is good for business, there are some auctioneers that are concerned that the market may have a hard time absorbing everything on offer.  Daniel Komala, chief executive of Larasati Auctioneers, explains:

“‘The art market has bottomed out; in fact, it’s fair to say that it has picked up some speed of late,” Mr. Komala said. “Having said that, the real capacity to absorb, over all, especially in Singapore, is only going to increase by 20-30 percent maximum from its rock bottom level. So, it’s wishful thinking to expect that the market will double up in capacity compared to how it performed six months ago.”

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Posted in Auctions, Business of art, Events, Market watch, Overviews, Recession, Singapore | Tagged: , , , , , , , , , , , , , , , , , | Leave a Comment »

Filipino artist Ronald Ventura in Singapore museum show to November 2008

Posted by artradar on October 25, 2008


Ronald Ventura

Ronald Ventura

 

 

 

FILIPINO ART EXHIBITION to 16 November 2008

Ronald Ventura in Mapping the Corporeal at NUS Museum of Singapore studies the human body, paranoia and religious consciousness in modern societies. Ventura expresses these ‘tensions’ in the form of sculptures, assemblages and hyperrealist paintings which are created mainly in graphite on canvas.

Ronald Ventura was born in 1973 and studied painting at the Philippines College of Architecture and Fine Arts, University of Santo Tomas, Manila.

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Posted in Emerging artists, Events, Filipino, Human Body, Museum shows, Religious art, Singapore | Tagged: , , , , , | 1 Comment »

Indonesian, Filipino prices rise at Sotheby’s despite meltdown

Posted by artradar on October 13, 2008


I Nyoman Masriadi The Final Round

I Nyoman Masriadi The Final Round

 

AUCTION SOUTH EAST ASIAN ART 2008

Sotheby’s autumn sales in Hong Kong were grim apart from the South East Asian sale which provided some much needed relief. The success of the sale prompted an ebullient quip from Sotheby’s entertaining auctioneer Chin Yeow : “Is there a financial meltdown out there because I am not feeling it. The banks should ask our bidders if they need money!”

The sale included Malaysian, Filipino, Singaporean and Vietnamese art but was dominated by Indonesian works. Bidding was thin for Vietnamese lots and these attracted interest mainly from Paris. In contrast the Filipino and in particular the Indonesian lots attracted fierce bidding wars from bidders on all continents.

The works which attracted most interest included those by I Nyoman Masriadi, Agus Suwage, Rudy Mantofani and FX Harsano.

Two Indonesian markets: modern/colonial and contemporary/popular

Information about Indonesian art is notoriously difficult to come by. Helen Spanjaard, a Dutch art academic specialising in Indonesian art (one of only two in the world who speak English she says), explains that there are two distinct markets for Indonesian works – the colonial/Dutch influenced body of works eg Affandi and the new generation mostly born in the seventies.

“There is established buying support for the colonial works mostly from Chinese Indonesian collectors who compete with one another to drive up prices”. There is a second much more international market for the seventies generation artists. Dr Spanjaard notes that those works which are particularly popular are reminiscent of Chinese pop art or refer to popular cultural influences such as cartoons, superheros, flat stylisation, fantasy.

This was certainly borne out in the sale. Indonesian artist I Nyoman Masriadi’s The Man From Bantul (The Final Round), 2000, lot 838, an impressive triptych of a fight painted in a flat stylised manner sold for HK$7,820,000 (US$1,000,725) after lively bidding, five times its high estimate of HK$1-1.5 million.

A number of other works by Masriadi fetched impressive prices  including Petualanganku Berakhir Setelah Ketemu Ibumu (My Adventure Ended After I Met Your Mother), which sold for HK$2,900,000 (US$371,113) (lot 895, est. HK$250/350,000), and Too Small, which achieved HK$1,820,000 (US$232,905) (lot 808, est. HK$250/350,000), both bringing many times their high estimates. These works featured flat images with cartoon-style poses and speech bubbles.

Sotheby’s again set a record for the work of Rudi Mantofani (b. 1973) following the record price achieved
in its series of spring 2008 sales last season. Pohon-Pohon Langit (Sky Trees) sold for HK$3,020,000
(US$386,469), bringing almost eight times its high estimate (lot 868, est. HK$280,000 – $380,000). Mantofani is known for his surreal fantasy landscapes in which for example trees are clouds and shadows are holes.

Artist records were also broken for Dipo Andy and Jumaldi Alfi. More abstract contemporary works and by for example Yunizar, Putu Satawijaya and the moderns also attracted interest but to a lesser extent.

Filipino artists

Filipino artists who did well in this sale included Geraldine Javier, Ronald Ventura, Annie Cabigting, Yasmin Sison and Lirio Salvador.

Why is South East Asian art so popular now?

Some commentators note that there is a structural issue which is affecting the art market. Today’s buyers are more speculative than at any time in the history of art buying and that the interest in South East Asian works is coming from former buyers of Chinese art who are looking for the next hot trend. Others note that the sale was a success because prices of South East Asian art are relatively cheap compared with other markets.

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Posted in Auctions, Cartoon, Collectors, Critic, Filipino, Hong Kong, Individual, Indonesian, Malaysian, Market watch, Pop Art, Professionals, Recession, Singaporean, Southeast Asian, Vietnamese | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Pop goes bubble for Chinese Indian artists – Businessweek

Posted by artradar on October 8, 2008


SOTHEBYS HONG KONG AUTUMN AUCTIONS
While much of Hong Kong hunkered down just hours before the arrival of a typhoon on Oct. 4, the start of Sotheby’s three-day auction of modern and contemporary Asian art was buffeted by the financial storm on Wall Street. Of the 47 works that went under the hammer, more than 40% were unsold. What’s more, earnings for Sotheby’s (BID), including the auctioneer’s commission known as the “buyer’s premium,” were a paltry $15 million, accounting for just 41% of the auction house’s estimated takings for the night. Among the biggest upsets was the unsold work by India’s hot-selling artist Subodh Gupta, Untitled, which had an estimated price of $1.55 million to $2.05 million. Another big surprise: Chinese cynical realist painter Liu Wei’s triptych, The Revolutionary Family Series, failed to find a bidder willing to meet the $1.55 million suggested minimum.

As the weather deteriorated on Sunday morning, so did events in the auction hall. Only 39 out of 110 paintings from the 20th Century Chinese Art Sale found buyers, while 71 had to be packed up and shipped back to their sellers. By the afternoon session, the usual buzz at Hong Kong’s contemporary Chinese art auctions was sorely absent. At one point during the sale, the auctioneer mistook a woman covering her mouth to stifle a yawn for her wishing to bid, prompting a valiant attempt to inject some levity into the proceedings as he asked if “anyone else is yawning in the room.”

Yawns gave way to disbelief a little later when two works by white-hot Chinese artist Zhang Xiaogang went unsold. That’s a huge reversal for the Beijing-based artist, whose paintings have routinely fetched millions of dollars, well in excess of auction estimates. (His painting Bloodline: Big Family No. 1 was one of the few top lots that sold on Saturday, though the $2.97 million price was below the expected maximum.) Yue Minjun and Zeng Fanzhi, two others among the hottest-selling Chinese contemporary artists, did manage to sell, although well within the estimates.

Wall Street Fallout
You connect the dots: Wall Street goes into meltdown, and Sotheby’s auction bombs in Hong Kong. Kevin Ching, Sotheby’s CEO for Asia, tries to be optimistic about whether the two are connected. “I hope there is no immediate direct correlation between the financial market and the art market,” he says, pointing to the widely successful auction of enfant terrible Damien Hirst’s works in London within days of the collapse of Lehman Brothers. The problem with some of the Hong Kong auction, he adds, stems from overly ambitious owners trying for unreasonably high prices. “When we have [sellers] who want aggressive estimates over and above what [the] market can accept, they would have to occasionally accept the consequences, and I think that’s what happened here [Saturday] night,” Ching explains.

Still, others in Asia’s art business are certain the fallout from Wall Street is already hurting Chinese and Indian markets. In both countries, newly wealthy investment bankers and hedge fund managers helped inflate bubbles in works by local artists. For instance, in the last four years a booming Indian economy and buoyant stock market encouraged many private banks to offer fee-based services to assist clients in building portfolios of artworks sourced from galleries, auctions, and even direct sales. Fund managers say that investment bankers with their hefty bonuses helped inflate art prices by 30% to 60% above their real value, according to a gallery owner in Mumbai.

Bright Spots
Now with Wall Street in turmoil, most of the bankers who were regulars at art shows and auctions have moved out, says avid art collector Harsh Goenka, chairman of India’s diversified RPG Enterprises, which has interests in tires, power, and retail. He claims that in the last few years, around 60% to 70% of art sold in auctions and shows in India went to the new breed of investor rather than art connoisseurs. “They looked at art as a brand and made money by trading in it,” says Goenka. In the past few months, he says, painters and art dealers have been calling him up to offer their unsold works at a 30% to 40% discount.

The picture isn’t all grim, though. The mood was positively ebullient at Sotheby’s Hong Kong on Oct. 6 as buyers crammed the room for the auction of Southeast Asian contemporary paintings. Sotheby’s employees manned the phones to handle enthusiastic overseas bidding. For instance, Indonesian painter I Nyoman Masriadi had already set a personal record on the first day of the Sotheby’s auction when his huge canvas featuring Batman and Superman sitting on adjacent toilets sold for $620,000. He then surpassed that with a painting of boxers that seems part Botero, part Léger; it fetched a high $833,000. A bit later, during furious bidding for yet another Masriadi, the auctioneer exclaimed “This is really, really fun.” The room broke into applause when the work finally sold for a very respectable $307,000.

The reason for this sea change in sentiment? The prices were far more affordable than the works from China and India on sale during the weekend, and collectors seem to have finally cottoned onto the notion that Indonesian, Vietnamese, and Filipino artists represent opportunities for collectors to own great art. One work by up-and-coming Filipino painter Geraldine Javier sold for $32,000, more than three times the high estimate. An intimate portrait of a woman and child by Vietnamese painter Mai Trung Thu also sold for triple the estimate, fetching $23,000.

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Posted in China, Chinese, Emerging artists, Filipino, Hong Kong, Indian, Indonesian, Painting, Southeast Asian, Vietnamese | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Chinese, Indian leading artists fail to sell at Sotheby’s Asian Art evening sale October 2008

Posted by artradar on October 5, 2008


Kang Hyung-Koo

Kang Hyung-Koo

 

 

 

REPORT FROM THE AUCTION ROOM

Big name Chinese and Indian artists and several premium lot artworks failed to sell at Sotheby’s October 2008 evening sale of contemporary and modern Asian art but the sale pointed to a new trend of enthusiastic collecting interest in South East Asian art.

Sotheby’s presented its first evening sale of Asian art in Hong Kong 4 October 2008 following Christie’s lead in the Spring auctions. Although Sotheby’s was more aggressive in the number of lots offered (Sotheby’s 47, Christie’s 32), Sotheby’s sale was generally a more diverse cautious offering compared with Christie’s. Sotheby’s presented:

  • artworks covering more time periods (Sotheby’s contemporary and modern, Christie’s contemporary only)
  • artworks from more geographical markets ( Both: Chinese, Indian, Korean, Japanese, Sotheby’s added Filipino and Indonesian)
  • a greater price range at Sothebys with given estimates ranging from US$13,000 to more than US$3.85 million (Christie’s lowest given estimate was US$64,100 and ranged up to US$3.2m).

The results however could not have been more different. While Christie’s sale was a resounding success Sotheby’s sold only 28 of the 47 lots on offer.

The auction room was packed with all of the 200 or so seats taken and though more seats were brought in 30-40 people had to remain standing at the back. There were two rows of Sothebys staff (30-40 people) taking telephone bids. The auction room hummed with anticipation and got off to a roaring start with the first two lots. Filipino artist Ronald Ventura’s ‘Pinamumugaran’ attracted furious bidding and achieved a price of US$230,000 ex premium compared with estimates in the range US$13,000 to US$23,000. The next lot Indonesian artist Handiwirman Saputra’s ‘Mental Series No 8’ estimated at US$25,000- US$40,000 was also successful and eventually sold for US$140,000 ex premium.

Enthusiasm quickly waned during the next two lots of Indian art: lot 3 by  Thukral and Tagra just exceeded the estimate and lot 4 by Jagannath Panda missed its estimate.

The first big upset was lot 5 Subodh Gupta’s ‘Untitled’ estimated at US$1.5 – 2million. Known as the leading Indian contemporary artist Gupta was the first Indian contemporary artist to be included in international auction sales. Sotheby’s had high hopes for this lot but it failed to meet the reserve and went unsold. This set the tone for the next 7 lots; although the works were by  big name Indian and Chinese contemporary artists only 2 (Zhang Xiaogang and Feng Zhengjie) sold just scraping the bottom end of the estimates.

I Nyoman Masriadi

I Nyoman Masriadi

The remainder of the sale was slow and bidding was sticky apart from a couple of bright spots. Indonesian artist I Nyoman Masriadi’s ‘Sorry Hero, Saya Lupa’ estimated at US$48 – 75,000 attracted wide bidding from the room and phones and was finally sold for over US$500,000. Other artists who attracted several bidders and sold above estimates included Korean artists Lee Bul and Kang Hyung-Koo and Indonesian artists Agus Suwage and Affandi.

Contemporary Chinese artists who failed to sell any works in the sale included Liu Wei, Wang Guangyi, Tang Zhigang, Zeng Fanzhi, Yan Pei-ming, Feng Lijun. Chinese Moderns were not spared and lots by Liao Jichun, Chang Yu, Zhu Dequn were not sold. Other Asian artists who were not successful included Indians Subodh Gupta, Justin Ponmany, Japanese artist Takashi Murakami and founder of new media art Nam June Paik.

Some commentators suggest that this sale has been less successful because it coincides with a structural turning point in buyers’ tastes which are speculative and fad-led by nature and that interest in Chinese contemporary art has been replaced with a new enthusiasm for Korean and South East Asian art.

Fads aside, the correlation between prices of works and demand is certainly striking demonstrating a new price sensitivity by buyers of Asian art. September’s financial meltdown is no doubt the leading cause of the many failures in this sale but other factors may also be involved. The number of auctions and fairs has exploded in the last two years providing excess supply of art just when demand is reducing. This Sotheby’s auction competes with the concurrent Hong Kong International Art and Antiques Fair in which art is shown by over 80 galleries in 5000 sq metres of space on the floor above Sotheby’s sale at the Hong Kong Convention and Exhibition Centre. The Sotheby’s sale also overlaps with Korea’s leading auction house Seoul Auction’s first auction in Hong Kong which is offering high quality Korean Japanese Chinese and Western modern and contemporary works.

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Posted in Auctions, China, Chinese, Filipino, Globalisation, Hong Kong, Indian, Indonesian, Japanese, Korean, Market watch, Painting, Recession, Southeast Asian | Tagged: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 2 Comments »