Korean art hit and miss at Seoul Auction Hong Kong: New York Times

SEOUL AUCTION HOUSE RESULTS

A recent article by The New York Times explains the market trends of recent Hong Kong newcomer, Seoul Auction’s two highly successful auctions held in 2009:  Korean collectors continue to acquire Western contemporary artists, Chinese artists buy modern Chinese paintings and Korean art sales are a hit and miss affair. Read on for more…

Seoul Auction was established in 1998, and was for many years was the city’s only auction house. In 2008, it opened an office in Hong Kong, and since then has been gaining international credibility as a top-rate Asian auction house. Seoul Auction uses the auction platform as a way to introduce Western art to the Asian market, as well as introducing relatively new work from South Korea and other Asian countries to the international market.

Damien Hirst, 'The Importance of Elsewhere – The Kingdom of Heaven,' 2006, butterflies and household paint on canvas, 292x243.9 cm.

Trends in Western art

Seoul Auction’s record-breaking 2.2 million dollar sale of Damien Hirst’s The Importance of Elsewhere – The Kingdom of Heaven, arguably its most notable achievement, and similarly pricey sales of other Western artists have revealed a flourishing market for Western Art in Asia. Works from Damien Hirst’s “Butterfly” series have proven very sell-able, although Seoul Auction has avoided his brush paintings – a pair of silk screen prints failed to sell at their April sale.

Donald Judd’s linear block sculpture Untitled (Progression 87-26) and Robert Indiana’s Eight from his number series are among those that fetched the highest prices. Roy Lichtenstein has also been introduced and has had a healthy reception.

According to the chief executive of Seoul Auction, Jun Lee, “Korean collectors are very sophisticated.” He adds that they had been collecting Western contemporary art “for the past twenty years, even when the market was not that active, even in New York. They are very open-minded. It’s a survival strategy under these circumstances, in periods of recession. We’re trying to persuade our contacts with whom we’ve built relationships over the past ten years to sell.”

Popular Asian contemporary artists

The “Infinity Nets” mixed media sculptures by Japanese artist Yayoi Kusama have been highly successful. Works by Anish Kapoor, introduced to Korea by Seoul Auction, have also been highlighted as having healthy sales.

A photographer takes a picture of Yayoi Kusama's 'Venus No.1, Statue of Venus, Obliterated by Infinity Nets' (1998) at the Hong Kong International Art Fair. Taken from freep.com.

Korean art hit and miss

Although Korean works account for forty percent of Seoul Auction’s offerings in Hong Kong, sales of Korean art have been hit and miss. Kim Whanki’s abstract geometry paintings have sold well, but video artist Nam Juin Paik’s work has failed to sell. The article accredits this to the relatively short history of South Korean art in the international market compared to that of Japanese and Chinese artists, although in recent years sales to Western collectors have increased.

Chinese collectors prefer traditional art

Chinese art has been undeniably popular among Chinese buyers. Sanyu’s Flowers in a White Vase, Wang Yi Dong’s Girl and Peaches and Zeng Fanzhi’s Mask Series no 21 3-1 sold for good prices, some even exceeding their estimates.

Also popular among Chinese buyers are traditional paintings, such as works by Impressionists Chagall, Renoir, and Picasso, but they are less interested in less familiar American pop artists. According to an article by the Hong Kong Trader, there is also a trend for crossover art.

With the growing trend for crossover art (Chinese buying Japanese art, Japanese buying Korean art, etc), Ms Shim expects more Asian auction houses will look to set up a base in Hong Kong. By moving early, she says, Seoul Auction will gain a strong foothold. ‘We are preparing now for the good times ahead.’

As expressed in The New York Times article, the buying power of China is told only too well through the popularity of traditional works when contemporary works are struggling to sell.

Read the full article here.

MM/KN/KCE

Related Topics: venues- Hong Kong, collectors, market watch – auctions

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• World’s Top collectors and art professionals attend ART HK: a testament to fair’s growing importance – June 2010 – importance of Hong Kong in international art market
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Beijing first to host Arles program outside France

PHOTOGRAPHY FESTIVAL BEIJING EXHIBITIONS

In the first part of Art Radar Asia’s coverage of Beijing’s Caochangdi PhotoSpring (17 April-30 June, 2010) we presented the winners and semi-finalists of three photography awards. This article aims to explore some of the 27 photography exhibitions, several of which are from the long-established Les Rencontres d’Arles, with which Caochangdi PhotoSpring has partnered for the next three years. These Arles exhibitions are, for the very first time, being showcased outside of France.

Some of the Arles exhibitions seen in Beijing

Rimaldas Viksraitis’ Grimaces of the Weary Village won him the 2009 Recontres d’Arles Discovery Award. This Lithuanian born photographer has chosen to document the lives of his country’s village dwellers who, in order to face the difficult economic situation they are in, have turned to excessive drinking. Many of his subjects are intoxicated and the photographer’s portrayal of their nudity and often degrading behavior lends an air of the surreal to his images. This show, curated by Anya Stonelake and Martin Parr, was exhibited at the Three Shadows Photography Art Centre.

Rimaldas Viksraitis, Grimaces of the Weary Village, 1998. Image courtesy of Three Shadows Photography Art Centre.

A number of ’70s vintage prints by renowned Japanese photographer Daido Moriyama were also on display in a solo exhibition entitled Tono Monogatari – The Tales of Tono, presented with the cooperation of Taka Ishii Gallery (Tokyo) and Zen Foto Gallery (Tokyo). Moriyama was the winner of the No Limits Award at Les Rencontres d’Arles 2004 and his images of densely populated Tokyo districts are “characterized by blur, high contrast and rough printing.” His celebrated image of a stray dog, Misawa (1971), has come to describe both the dog and his style of photography: “ragged, savage and disoriented”. More recently his work has also been labeled “random, irrational and zero technique.” A Moriyama retrospective will be held 2011 at the National Museum of Art in Osaka.

Daido Moriyama, Misawa, 1971, gelatin silver print. Image courtesy of Taka Ishii Gallery and Caochangdi PhotoSpring.

ArtMia Foundation showed the work of renowned photographer Lucien Clergue (b. 1934) who was one of the co-founders of Les Recontres d’Arles in 1969. This Arles native was a long-time family friend of Pablo Picasso and the exhibition, entitled Picasso Close Up, documents this friendship as well as other intimate views into the daily life of the painter. We get glimpses of Picasso as a father, husband and friend. We see him in a kimono, on an outing with his family, playing drums with musician friends, casually conversing with a cab driver or warmly engaging with Clergue’s daughter, who was Picasso’s god-child. This exhibition also featured eight original lithographs by Picasso.

Lucien Clergue, Picasso and Olivia C., Mougins, 1967

Another of the Arles exhibitions, Under the Skin, was held at the Galerie Urs Meile Beijing-Lucerne in collaboration with Juana de Aizpuru Gallery (Madrid) and featured the haunting portraits of Pierre Gonnord. These portraits are in a style reminiscent of the great Spanish masters and have come from two series. The first series, Utopians, portrays the underprivileged dwellers of Madrid. The second series, Gypsies, attempts to record the lives of inhabitants of an isolated part of Seville.

Pierre Gonnord, MARIA, 2006. Image courtesy of Caochangdi PhotoSpring.

Mo Yi presented black and white photographs, video and an installation in his My Illusory City – 1987-1998-2008. The Tibetan-born artist has for most of the past thirty years chosen the city as his subject. He states, “the city has already become my long-term subject, and photography has become the most convenient language with which to transform this subject.”

Mo Yi, My Illusory City No. 5, silver gelatin print. Image courtesy of Caochangdi PhotoSpring.

At Taikang Space a solo exhibition of two series by photographer and filmmaker Wu Yinxian (吴印咸), entitled Beijing Hotel-1975 and The Great Hall of the People, was on display. The former was completed toward the end of the Cultural Revolution and the latter in the early Eighties. These photographs were taken in an attempt to record the power and grandeur of the government at the time. His images are those of a bygone era, both in terms of changes in the political climate of China as well as the outdated furniture and faded patina.

Wu Yinxian, Meeting Room, 1975. Image courtesy of Caochangdi PhotoSpring.

Future of Caochangdi PhotoSpring in limbo

We spoke briefly with RongRong, one of the directors of Caochangdi PhotoSpring, about the significance of this photography festival both for Beijing and China. “The Caochangdi PhotoSpring is the first major international photography festival in Beijing. It is an important event for photographers from all over China. Beijing is a global city that is convenient for a global gathering.”

However, the whole Caochangdi art district including the hub of the festival, the Three Shadows Photography Art Centre, and numerous other independent and commercial galleries, have recently been slated for demolition and eviction notices given to all village inhabitants. The art district is being cleared to make way for a “culture zone.”

Read part one here: 3 young Chinese artists awarded prizes at inaugural Caochangdi PhotoSpring

NA/KN

Related Topics: photography, art prizes, venues – Beijing

Related Posts:

• 3 young Chinese artists awarded prizes at inaugural Caochangdi PhotoSpring – May 2010
• Asia Art Forum 2010 meets growing demand for art collector education in China – Jing Daily – May 2010
• Hong Kong artist ‘anothermountainman’ debuts solo photo exhibition in UK – April 2010
• Xing Danwen’s perfect world gets noticed at the Ooi Botos Gallery in Hong Kong – March 2010
• A perspective on Viewpoints and Viewing Points – 2009 Asian Art Biennale – January 2010

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