NEWS
Post-Auction Press Release: LARASATI, Bali Sale, 3 March 2013
Sunday, 3 March 2013 at Agung Rai Museum of Art (Ubud, Bali), Larasati Auctioneers rounded off her 1st sale this year in Indonesia with 93% of total 88 works on offer sold. Attended by well over 120 people in the room and with 30 absentee bidders from across the globe, the boutique auction recorded dramatic competitions for important works by masters of traditional Balinese works, generating a total sale of IDR 3.042.680.000.
A painting titled “Gembala Sapi” by I Wayan Rajin (lot 69) was the top performer of the sale, with a humble estimate of IDR 12 – 15.000.000, the work was fiercely contested and it finally fetched IDR 61.000.000 (508% of the starting price). Two works by Mangku Mura (lot 2 and lot 4), one of the leading masters in the Balinese Kamasan style also recorded strong performances with final price of IDR 19,520,000 each, well beyond the starting price. Lot 2 titled “Mythological Scene” and and lot 4 “Scene from Mahabarata” were sold for 390% and 488% respectively above their starting prices. A wooden sculpture by Ida Bagus Tilem (lot 86) titled “Sleeping Man” was among the works heavily competed before the bid finally nailed by a phone bidder and sold for IDR 107.360,000 (358% above starting price).
Another highlight was the bidding of the cover lot by I Ketut Gelgel titled “Frogs”. This exceptional piece, a large canvas work by artist who was born in Pengosekan, Ubud 69 years ago, finally raked in IDR 195.200.000 (217% above the starting price). Works by I Gusti Ketut Kobot (lot 84 and lot 85) also stole the attention during the sale when both canvas works on mythological scene were intensely fought over between two gentlemen in the room. The final results for these works by Kobot are significantly above the pre-estimate values. Lot 84 titled “Scene from Ramayana” fetched IDR 103.700.000 (207% above starting price), and lot 85 titled “Sita Satya” was sold for IDR 134.200.000 (224% above starting price).
Last but not least were 2 jewels by Ida Bagus Made Poleng, who is renowned for his skepticism of art dealers and galerists. Coming from the estate of a German collector who purchased the works (lot 87 and 88) over thirty years ago directly form the artist himself, both paintings created intense rivalry among bidders. Lot 87, titled “Mandi di Pancuran” (A Bath in the Fountain) pulled in IDR 219,600,000 (163% above starting price), while lot 88 “Rice Fields” remarkably garnered IDR 512,400,000 (183% above starting price), making it the most expensive lot in the sale.
Commenting on the success of this sale, Daniel Komala (Chief Executive Officer of Larasati Auctioneers) said, “The sale clearly displays the growing interests in Balinese art not only among local art enthusiasts but also among non-Indonesians. The sale witnessed a lot of new faces in the room, the market has truly expanded and will keep on growing in the right direction in many years to come.”
Larasati’s next sale will be held in Hong Kong, 25 May 2013 offering modern and contemporary works by Asian artists. For more information, please regularly visit our website www.larasati.com