Post Sale - Press Release LARASATI Singapore, January 2015
LARASATI Singapore, January 2015, GoodwoodPark Hotel
Singapore, January 2015 - Larasati's Modern and Contemporary Art auction on Saturday, 24 January 2015 demonstrated strong appetite by regional as well as international collectors towards works by Southeast Asian masters and established artists. Well over 100 art enthusiasts packed the Tudor Ballroom at GoodwoodPark Hotel Singapore, at the start of the sale that offered only 50 lots which netted S$ 1,5 million with 88% lots sold.
The sale kicked off with a sell-out on selection of works by Indo-European artists. "Women Carrying the Goods" by Willem Jan Pieter van der Does ended this section with a convincing performance, fetching S$ 19,520 (176% above the starting price).
The works by Singaporean artist Chen Wen His were among the highlights of the collection. But it was his chinese-ink-on-paper "Gibbons" that brought in the highest taking, raking in S$ 27,450 (343% above the starting price).
An oil by Filipino National Artist Jerry E. Navarro titled "Sarong from Solo" was among the top performing lots in the sale. Modestly offered at S$ 13,000 as the starting price, the saleroom witnessed fierce bidding between phone bidders and those on the floor before the hammer came down and the painting was finally sold for S$ 27.450 (343% above starting price).
On Contemporary Asian Art, the Zoomanites series of sculptures by Filipino artist Ronald C. Ventura stole the attention during the sale. Heavily contested among bidders, the work dated 2008 was sold for S$ 23,180 (331% above starting price). I Nyoman Masriadi's "Ice Cream and Energy Drink" fetched S$ 207,400, and became the second highest taking of the day.
The cover lot by Adrien Jean Le Mayeur de Merpres titled "Women in the Garden" was hammered off at S$ 695,000, making it the most expensive lot of the sale. The other work by the artist made on mixed media on paper titled "Ni Pollok" was also sought after by bidders in the room and it finally fetched S$ 31,720 (almost double of the starting price).
An oil by Indonesian old-master Affandi titled "Proas and Sun at Candi Dasa" fetched S$ 109,800, while traditional Balinese master Ida Bagus Made Poleng's "Bali Life (Kehidupan di Bali)" and "Mandi Di Pancuran" brought in S$ 97,600 and S$ 24,400 respectively.
Commenting on the success of the sale, Mr Daniel Komala, President and CEO of Larasati's Auctioneers said : "It's early days in 2015, but modern masters' works are still trending in the market. It was a solid sale in which works by Filipino artists came out to be the best performing lots."
Since Larasati's first auction held on 30 April 2000 in Jakarta - Indonesia, the regional auction house's reputation has grown rapidly for auctioning rare and emerging Indonesian as well as other Asian works at record prices. In 2003, Larasati marked a milestone in its pursuit to become a major player in the Asian market, with its entry into Singapore and becoming the first Asian-based auction house that crossed national borders.
Focused on featuring significant works of art and treating them as a kind of museum art, Larasati's boutique collection platforms fine works by master artists from Indonesia, China, India, Korea, Singapore, Vietnam and the Philippines. Beyond just merely a matter of buying and selling art objects, Larasati is driven to enhance the appreciation and development of art in Asia.
For more information please contact:
Christin Elisabeth Metanfanuan