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BREAKING NEWS

NEW WORLD AUCTION RECORD FOR AFFANDI, FATHER OF INDONESIA'S MODERN ART:
"THREE FACES" (TIGA WAJAH) SELLS FOR HK$3,776,000

ONE EAST LARASATI HONG KONG SEES AN INCREASE OF 211% ON THE TOTAL SALES FIGURE

Hong Kong, June 1, 2010 - On an afternoon that saw a new world record for Affandi's Three Faces, One East Larasati Southeast Asian Modern and Contemporary art sales in Hong Kong achieved an increase of 211% on the total sales figure compared to its sale last November.
 
The auction was highlighted by the outstanding success of Affandi's Three Faces which sold for a record of HK$3,776,000, breaking the previous world record for any work of Affandi at auction. The star lots of the auction were Hendra Gunawan's Kuda Lumping and Lee Man Fong's Three Horses which fetched HK1,534,000. and HK$1,298,000 respectively. Other anticipated work to come to market from private collections were Ernst Agerbeek's "The Card Game" (1927) sold at HK$424,800, over 200% above the estimate while the Indonesian master Arie Smit's "Landscape of Bali" achieved HK$212,400, also over 200% above the estimate.
 
Mr. Daniel Komala, President and CEO of One East Larasati said, "This Southeast Modern and Contemporary Art Sales fully revealed that artworks of superb quality we presented were recognised and praised by serious collectors. We are also very excited to see our entire sales room was packed with enthusiastic collectors from Asian and Europe. Also more and more Hong Kong based collectors have begun to show interest in Southeast Asian art and some of our top lots were collected by the locals here. It also reinforced our confidence towards this market, and we look forward to bringing more high standard collectible works to Hong Kong in the foreseeable future"