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Posts Tagged ‘Ronald Ventura’

Sotheby’s Hong Kong presents results of autumn sale of Southeast Asian paintings

Posted by artradar on October 7, 2010


ART AUCTION RESULTS SOTHEBY’S HONG KONG PRESS RELEASE

We present you with the latest press release from Sotheby’s Hong Kong on their autumn sale of modern and contemporary Southeast Asian paintings:

SOTHEBY’S HONG KONG

MODERN AND CONTEMPORARY SOUTHEAST ASIAN PAINTINGS 2010 AUTUMN SALE

TOTALS HK$78 MILLION / US$10 MILLION

(high estimate: HK$45 million / US$5.7 million*)

THE HIGHEST TOTAL FOR A VARIOUS-OWNER SALE

IN THIS CATEGORY AT SOTHEBY’S HONG KONG

************

ACHIEVING NUMEROUS ARTIST RECORDS AT AUCTION

“FATHER OF INDONESIAN MODERNISM” –

S.SUDJOJONO’S A NEW DAWN SOLD FOR AN IMPRESSIVE

HK$10.7 MILLION / US$1.4 MILLION

OVER 4 TIMES THE HIGH ESTIMATE

FILIPINO ARTIST RONALD VENTURA ’S NATURAL-LIES FETCHED

HK$2.5 MILLION / US$326,000

9 TIMES THE HIGH ESTIMATE

Other artist records were set for works by Indonesian artists including

Gede Mahendra Yasa, Ay Tjoe Christine, Samsul Arifin, Hendra Gunawan and Filipino artist Andres Barrioquinto, among others

Following the tremendous success of the Spring sale, Sotheby’s Autumn sale of Modern and Contemporary Southeast Asian Paintings today commanded a stunning total of HK$78 million / US$10 million (high estimate: HK$45 million / US$5.7 million*), the highest sale total for a various owners sale in this category at Sotheby’s Hong Kong.  Today’s sale provoked active participation in the room and over the phone.  There was particularly strong interest in top-end Southeast Asian contemporary paintings, which led to two auction records set for two artists – S. Sudjojono , Father of Indonesian Modernism, and Filipino artist Ronald Ventura.

MOK Kim Chuan, Sotheby’s Head of Southeast Asian Paintings, commented: “Top end Contemporary works fetched strong prices today with many pieces bringing multiples of their pre-sale high estimates.  Among Modern works, the supreme highlight was the S. Sudjojono, a museum-quality example of the artist’s work which spurred a fierce bidding battle among nine bidders before selling for HK$10.7 million, a price which was four times the top estimate and set a record for the artist at auction.  These results confirm the strategy of using conservative estimates to attract competition and let the market set the price level.”

The sale of 20th Century Chinese Art and Contemporary Asian Art continue in the evening.

Attached please find the relevant press releases, top-ten list as well as an image of the saleroom for your use.  Should you need further information, please do not hesitate to contact Sotheby’s Hong Kong Press Office on +852 2868 6755 /Winnie.tang@sothebys.com.

* Estimates do not include buyer’s premium

Regards,

Sotheby’s Hong Kong Press

KN/KCE

Related Topics: Southeast Asian art, market watch – auctions, business of art, collectors

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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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Top 17 Asian artists 2009: Art Radar’s most-searched artists

Posted by artradar on January 5, 2010


TOP ASIAN CONTEMPORARY ARTISTS

We have been up and running for over 18 months now and we receive over 25,000 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 or image written by Art Radar. Our analytics package tracks these search terms for us and we thought you might be interested in this data too.

Wucius Wong

Wucius Wong

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 caveats below). However we do think the list throws up some fascinating data.

  1. Takashi Murakami – Male Japanese anime painter and sculptor – 34,000 searches
  2. Anish Kapoor – Male British Indian sculptor – 3,500
  3. Shirin Neshat – Female Iranian photographer – 2,200
  4. Cao Fei – Female Chinese photographer and new media artist – 550
  5. I Nyoman Masriadi – Male Indonesian painter – 520
  6. Yoshitaka Amano – Male Japanese anime artist – 460
  7. Ori Gersht – Male Israeli photographer – 380
  8. Terence Koh – Male Canadian Chinese photographer, installation and multimedia artist – 340
  9. AES+F – Russian photography and video collective – 320
  10. Ronald Ventura – Male Filipino painter – 280
  11. Hiroshi Sugimoto – Male Japanese photographer – 260
  12. Farhad Moshiri – Male Iranian painter – 240
  13. Subodh Gupta – Male Indian painter, installation artist – 210
  14. Farhad Ahrarnia – Female Iranian thread artist – 180
  15. Gao Xingjian – Male Chinese ink artist – 180
  16. Jitish Kallat – Male Indian painter – 170
  17. Wucius Wong – Male Hong Kong Chinese ink artist – 160

The most startling finding is the “‘winner takes all” phenomenon. Takashi Murakami searches are 10 times the second most-searched artist and more than 100 times most of the artists on the list. This correlates with some of the latest findings on internet searches which are tending towards an L shape ie  there are blockbuster categories and a long tail of niches in which a vast number of categories each receive very few searches.

I Nyoman Masriadi

I Nyoman Masriadi

The well-known book “The Long Tail”‘ first brought the long tail phenomenon to light and it was expected that searchers given the choice would no longer need to cluster around a blockbuster because that was what was most readily available but would be able to choose between a myriad of interest categories. The latest research is showing that the long tail is indeed happening but that the long tail is not diminishing interest in blockbusters, instead the long tail is taking away from the middle-interest categories.

This pattern seems to be borne out in our data.  This trend could have some profound implications for the way that artists are marketed in the future. Perhaps art galleries as we now know them will go the way of independent bookstores and publishers, unable to afford the marketing costs needed to create blockbusters and unable to sell enough in the niches to survive. We would like to hear more about your thoughts on this subject in the comments section below.

Farhad Ahrarnia, The Struggle Within

Farhad Ahrarnia, The Struggle Within

Preferred media of most-searched artists

Most of the arists work in various media but in this list we have tagged them with the media they are best known for. Only 5 of the artists are known primarily for painting and this list is dominated by photographers, new media artists and sculptors.  Chinese ink, thread and anime make intriguing appearances on the list too.

Age

Most of the artists were born in the 1960s and 1970s as you would expect for a contemporary art site. But there are some surprise appearances for 2 older artists Gao Xingjian born 1940 and Wucius Wong born 1936. What is even more interesting is that both of these artists are Chinese and work in the same, very national genre of ink. While new media dominates, the inclusion of traditional Chinese ink art suggests a countertrend in which historical media and disciplines are being appreciated by contemporary art enthusiasts.

Gender

Male 13, Female 3, Mixed collective 1

Farhad Moshiri

Farhad Moshiri

Breakdown of nationalities

Chinese 4, Indian 3, Iranian 3, Japanese 3, Israeli, Indonesian, Filipino and Russian 1 each

While it is commonly known that there is now great international interest in the Chinese, Indian and Iranian art scenes we were fascinated to note the high ranking of two painters from Southeast Asia: Indonesian artist I Nyoman Masriadi and Filipino Ronald Ventura.  The  Southeast Asian collector base is composed of a small group of prominent Indonesian Chinese businessmen collectors. Artists from Southeast Asia find themselves in a somewhat enclosed and isolated art scene and are rarely exhibited outside the region. We did not expect to see Southeast Asian artists achieving a high ranking for internet searches.

Yoshitaka Amano

Yoshitaka Amano

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.

More recent lists: June 2010

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Luck for Sothebys at Southeast Asian auction 2009 in Hong Kong

Posted by artradar on April 7, 2009


SOUTHEAST ASIAN ART AUCTION

Summary:

  • 138 lots, 106 sold, sell through rate 77%
  • Cheapest lots (under US$15,000) were overlooked in favour of more expensive works by better known artists
  • 95 contemporary, remainder modern
  • Thin attendance
  • Prices slashed by Sothebys – estimates drop more than 50%
  • Sale dominated by Indonesian works
  • Ronald Ventura and I Nyoman Masriadi drew surprisingly frenzied bidding
  • I Nyoman Masriadi achieved the highest prices, albeit much lower than in 2008, 3 of his works appeared in the top 10 for the sale. His not dissimilar sale-topping works (Negotiation 2009 and The Final Round 2008) showed more than 75% drop between Spring 2009 and Autumn 2008.
I Nyoman Masriadi Negosiasi

I Nyoman Masriadi Negosiasi

Empty seats

Half the seats were empty at the start of the thinly attended the 138 lot auction of modern and contemporary Southeast Asian art which kick-started the Sotheby’s series of 2009 Spring sales in Hong Kong. As the 18 or so grim-faced Sotheby’s staff at the telephone bank surveyed the 60 or more empty seats, there was a gluey air of tension.

The first 12 lots of the 95 contemporary works on sale, most at estimates of well under US$15,000, saw gentle bidding but thanks to much coaxing by veteran auctioneer Quek Chin Yeow, all but two ( works by Indonesian artists Eko Nugroho and Dikdik Sayahdikumullah) scraped the estimates and sales were achieved.

The room relaxed and bidding picked up for the next 20 or so lots (13-33) with particular interest shown in:

  • Rodel Tapaya (b 1980) Donsadat and the Magic Dog which sold over estimate for HK$90,000 (excl premium) after a tussle between 2 phone bidders and the room
  • M Irfan (b 1972) The Artifact of Magic which attracted 4 bidders and achieved a price of HK$235,000 (excl premium) against a top estimate of HK$180,000.
  • Yunizar (b 1971) Texs III sold at HK$210,000 against its higher estimate of HK$180,000.

In a dramatic twist this was followed by a run of half a dozen passes and barely-made sales. The first lot called My God offered by  heavyweight Agus Suwage (b.1959 Indonesia) almost fell victim to the new twitchiness but just scraped by to achieve its lower estimate of HK$220,000.

Catalogue-featured lots

Lot 40, the first of the 5 catalogue-featured lots, Lost Notes by Rudi Mantofani, a stunning sculpture of two guitars curved to form a circle, more than met expectations by achieving a price one third higher than estimate. In a testament perhaps to the power of deeper catalogue marketing, the other featured works also did well:

  • lot 58 I Nyoman Masriadi‘s (b 1973 Indonesia) painting Negotiation – this acrylic featuring two cowboys facing off,  turned out to be the star lot  and achieved the highest price in the sale when 4 phone and 2 room bidders pushed the price up to  HK$1.4m against a top estimate of $800,000. However this was a mighty fall of over 75% compared with the price achieved for a similar work The Final Round autumn 2008. Negotiation  fetched just HK$1.7m (US$217,000) including premium, less than a quarter of the US$1 million price tag for the Boxers.
  • lot 67 FX Harsono (b 1949) Tracing the Past achieved its estimate at HK$175,000

Handiwirman Saputra, Soap, Aluminium, 20x100cms

Handiwirman Saputra, Soap, Aluminium, 20x100cms

  • lot 75 Handiwirman Supatra‘s pink-painted aluminium sculpture Soap achieved a price (HK$300,000) double its top estimate. Originally conceived as a commissioned group of works for Novotel Hotel in Indonesia this was Supatra’s first large-scale sculpture project. Aside from the artist’s one-off, there are 4 versions of the work each in a unique colour.
  • lot 88 Ronald Ventura‘s (b 1973) Oh Boy painting – this lot saw the most exciting bidding . The fast-paced overlapping bids keeping the ever-ebullient auctioneer Chin Yeow on his toes and prompted a happy quip about there being ‘no recession’ now.
Ronald Ventura Oh Boy

Ronald Ventura Oh Boy

Lucky 88 for Ronald Ventura

8 is a lucky number in China and it was certainly lucky for Sotheby’s because the lot marked a turning point. After a poor 12 lot run (lots 76-87) in which there were 6 passes and the remainder just meeting the lower estimates, Ronald Ventura‘s lot 88 galvanised the room with its spray gun pre-recession-style bidding from more than a dozen bidders. The remainder of the contemporary artworks in the sale – lots 89-95 – all sold well despite having some of the highest prices in the sale (all over HK$100,000). Ahmad Zakii Anwar Silent City 8 (8 again!) sold at estimate despite a previous pass for a work located earlier in the sale. The other 6 lots by heavyweight artists – Geraldine Javier, Handiwirman Saputra, I Nyoman Masriadi and Yunizar with prices considerably higher than most of the works earlier in the sale (estimates in the HK$100,000 to HK$400,000 range) – all sold with comfortable margins over estimates.

No upsets

Other lots which drew notable interest included lot 13 Jumaldi Alfi‘s painting The Falls which saw goood bidding and achieved a price of HK$270,000 against estimate HK$230,000 and  lot 75 M Irfan‘s (b 1972) Maneuver. 3 room bidders pushed up the price to HK$130,000 against its top estimate of HK$90,000.

There were no major upsets but some passes were surprising including lot 19, an untitled work by Handiwirman Saputra, lot 46 Putu Sutawijaya‘s untitled painting and lot 50 Dadang Christanto‘s work Pilgrim Project 2. Agus Suwage had 2 works in the sale, both did sell but only just.

Happy faces

The auctioneers were clearly happy and entertained the room with  jaunty banter. When Kevin Ching, CEO of Asia – known for tongue in cheek bawdiness – placed a bid on Vasan Sitthiket‘s ‘American Wet Dream’, the irrepressible auctioneer Chin Yeow who jokingly refused to refer to the painting by name because it ‘is too rude’, cheekily teased his colleague saying “Not a surprise from Kevin Ching”. “What do you mean?” deadpanned Ching right back.

And happy they deserve to be. Although this sale had one of the lower sell-through rates of the Sothebys 2009 Spring sales due to an excess of cheaper works by lesser known artists, the strategy of presenting predominantly Indonesian works by preferred artists was clearly aimed to please and did please an established clientele: a small number of deep-pocketed Indonesian collectors of Chinese origin and other hard core collectors. And what might the future hold?  Maybe deeper catalogue marketing, fewer works by lesser known artists and perhaps we will see a few more 8s sprinkled amongst the lot numbers next autumn.

Notes:

  • prices exclude buyers’ premium.
  • Exchange rate HK$7.7 = US$1.
  • All artists named are Indonesian except Ronald Ventura and Geraldine Javier from the Philippines

Related links: Bloomberg’s report

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Posted in Auctions, China, Filipino, Hong Kong, Indonesian, Market watch | 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 »

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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