Singapore, 15 April 2006 - Over 70% of the 131 lots offered found buyers at LARASATI – ‘Pictures of Asia Fine Art Auction’, held at the Marriott Hotel, Singapore on Saturday, 15 April 2006, generating total sales of SGD 2,4 million.

The auction saw active bidding with packed attendance of around 300 people.

Intense competition resulted on respectable prices for exceptional pieces. Among others were the cover lot, “Performance Preparation” by Indonesia’s master Abdul Aziz which raked in SGD 233,000 and “Three Horses” by Lee Man Fong that was sold for SGD 175,500.

LARASATI’s highest taking for the day was a stunning image of “Mother Teresa” by one of India’s most renowned contemporary artists, Maqbool Fida Husain, which pulled in SGD 322,600.

Other highlights included a dramatic work by Zeng Shanqing from China titled: “Happy Years No. 23” and a radiant painting by Indo-European master Le Mayeur, “The Dance” which was sold for SGD 128,700 and SGD 152,100 respectively.

“Collectors are very selective these days and we had a very serious crowd this afternoon. They bid very intensely for top notch lots and young promising artists.

With the addition of the contemporary Indian art that was taking the stage for the first time ever in Singapore, we now had a very good cross section of Asian modern and contemporary collection.” - Mr. Daniel Komala (President Director, LARASATI Auctioneers)