MEDIA COVERAGE

A PERFECT 10th YEAR ANNIVERSARY FOR LARASATI SINGAPORE

"A white glove sale in Singapore, 100% lots on offer sold!"

Singapore, 27 January 2013, Sunday -- Tightening of purse strings after a series of auctions held in Singapore consecutively 2 days before Larasati's 10th anniversary sale were far from the minds of over 150 bidders packed at the Marina Bay Suites Sales Gallery Singapore on Saturday, 26 January 2013. The auction netted S$ 2.5 million in overall sales (including premium) as against the presale estimate of S$ 1.2 million.

Featuring one of the strongest showings by 20th century Southeast Asian masters, 100% of the works contested in the boutique sale were sold. Optimism was clearly visible during the 90 minutes auction ended on a high note when front cover of the catalogue, "Balinese Dancer with Meditating Lord Ardjuna", an oil painting by Antonio Blanco was hammered off at S$ 494,100 making it the highest-priced work achieved at the auction yesterday.

Redefining the auction landscape in Singapore and complement the existing offerings by Art Stage Singapore which mainly focuses on works by contemporary artists, Larasati auction in Singapore yesterday only offered 33 works to the auction audience. The boutique collection attracted fierce bids by collectors as they bought up not only lots by Southeast Asian masters such as Abdul Aziz, Adrien Jean Le Mayeur de Merpres, Vicente Silva Manansala, and Liu Kang, but also works by established living artists like Srihadi Soedarsono, Arie Smit, and Chang Fee Ming.

Exceeding expectations is an iconic watercolour by Chang Fee Ming titled "Mandalay" (lot 17) which has stirred a buzz since the preview started on Thursday and was intensely contested during the sale. This work dated 1993 eventually hammered off at S$ 103,700 - 576% above its starting price making it the highest record of Fee Ming's work to date. Adding another stroke of the confidence to the Southeast Asian art is a set of oil works by Abdul Aziz titled "Blissful Family" (lot 29) dated 1995 which fetched S$ 414,800, more than double its starting price.

Thrilled by the response, Daniel Komala, CEO of Larasati Auctioneers, commented: "We are delighted to see a packed sale room with people coming from a lot of different countries. Larasati Singapore has truly become a regional house with strong following. And a white glove sale is a perfect gift for our 10th year anniversary in Singapore."