Another Convincing Sale of Traditional Balinese Art at LARASATI's 4th Bali Sale
Jakarta, March, 2012 – Larasati Auctioneers wrapped up her 22st sale in Indonesia in Gianyar, Bali, last Sunday, 11 March 2012 at Agung Rai Museum of Art (ARMA) with a total sales of IDR 3,7 billion, with 81% of lots found their new homes. At the one-day auction that offered a boutique collection of only 77 lots (30% less in quantity than those of the sale last year in Bali, August 2011), LARASATI hammered off record prices for works by traditional Balinese, modern and contemporary artists. Attended by close to 200 art enthusiasts, the sale witnessed a significant rise in the interests on Balinese traditional art.
Top performing artist is Ida Bagus Rai with his work titled Mahabarata Scene (lot 53) was sold 556% above the starting price and fetched IDR 50.020.000 from its starting price of IDR 9.000.000. Other top performing lots were I Ketut Gelgel’s Traditional Market Scene that was sold for IDR 97.600.000 (lot 20; 244% above starting price), and Ida Bagus Tilem’s Sleeping Man that raked in IDR 359.900.000 (lot 58; 240% of its starting price).
Fierce bidding was witnessed on the saleroom on a number of top-notch works by traditional Balinese masters. The exceptionally exquisite work by Anak Agung Gde Raka Pudja titled Dressing Up (lot 76), that started with an initial bid of IDR 270.000.000, finally pulled in IDR 414.800.000. The back cover lot, a rare piece titled “Flute Player” by Ida Bagus Njana, fetched IDR 378.200.000, make it a new record for the artist to date.
Delighted by the result, Daniel Komala, CEO of Larasati Auctioneers, commented: “The market for traditional Balinese art has been growing steadily and most importantly ‘healthily’. Prices have increased steadily over the past 12 months, but still within reasons. Demand has always been stronger than supply for quality works. Pound for pound, our best performance to date in Bali.”
Under the umbrella of One East Larasati, Larasati’s next stop would be an evening sale in Hong Kong on 19 May 2012 in collaboration with 2 other leading Asian auction houses from Japan and Korea.
For more information on the upcoming Hong Kong auction, visit www.larasati.com
About Larasati Auctioneers
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, Malaysia, 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 further information, please contact:
Christin E. Metanfanuan
Tel: +62 855 1015778