PRESS PAGE
Brisk Sales of Traditional Balinese Art in LARASATI's 3rd Bali Sale
Jakarta, August 18, 2011 – Larasati Auctioneers wrapped up her 21st sale in Indonesia in Gianyar, Bali, last Saturday, 13 August 2011 at Nyoman Sumerta Gallery, with a total sales of IDR 4,5 billion. At the one-day auction that offered a boutique collection of only 111 lots, LARASATI hammered off record prices for works by traditional Balinese, modern and contemporary artists and registered over 150 bidders from Indonesia, Singapore, Australia, Germany, Switzerland, and France.
Top performing artists and their artworks include I Wayan Matra “Melasti” at almost 339% that finally fetched IDR 57.600.000 from its starting price of IDR 17.000.000 , Ida Bagus Rai’s “Bali Life” sold for IDR 66.000.000 (330% above starting price), I Gusti Ketut Kobot “Dewi Syiwa” sold for IDR 96.0000.000 (240% above starting price).
Fierce bidding was witnessed on the saleroom on a number of top-notch works by traditional Balinese masters. The cover lot, a rare piece titled “Birds of Paradise” by I Dewa Ketut Rungun raked in IDR 240.000.000, make it a new record for the artist to date. Another significant work by traditional Balinese master Ida Bagus Made Togog “Procession in Bali” finally brought in IDR 264.000.000.
Top three takings went to Ida Bagus Made “Rajapala” which raked in IDR 444.0000.000, Srihadi Soedarsono “Borobudur – A Moment of Contemplation” which went for IDR 348.000.000, Nyoman Meja “Tari Baris” that sold for IDR 312.000.000.
The sale witnessed a significant rise in interest for the traditional Balinese works, which contributed 74% of the total 80% lots sold in the auction. The sale was well attended by over 120 art enthusiasts and produced a total sales of IDR 4.529.880.000 including premium.
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 dramatically over the past 12 months, but still within reasons. Demand has always been stronger than supply for quality works. Our best performance to date in Bali.”
Larasati plans to hold its similarly exquisite collection in an evening sale in Singapore on 22nd October 2011 at its premises at ONE EAST ARTSPACE.
For more information on the upcoming Singapore 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: +62 855 101 5778
Email: c.e.metanfanuan@larasati.com