NEWS
LARASATI Singapore, 14 July 2013, Goodwood Park Hotel
Singapore, 15 July 2013 – Larasati’s Modern and Contemporary Art auction on Sunday, 14 July 2013 demonstrated a strong appreciation by regional as well as international collectors towards Southeast Asian art. Around 150 art enthusiasts packed the Tudor Room at GoodWood Park Hotel Singapore, excluding 43 absentee bidders (phone and written) at the start of the sale that offered 80 lots which netted S$ 1,5 million in overall sales (including buyer’s premium) as against a presale estimate of S$ 1 million.
Presenting one of the strongest collections by 20th century Southeast Asian artists and Indo-European masters, 73 works contested in the sale eventually found their new homes. Buoyancy was clearly visible since the preview kicked off on Saturday, and it lasted through the end of the auction when the cover lot “Kendang Player”, a magnificent oil by one of European reputable impressionists Isaac Israels was sold at S$ 427,000, making it the highest-priced work achieved at the auction and also a new auction record by the artist on Dutch-Indies (Indonesian) theme.
On the contemporary section, Southeast Asian top notch artist, Indonesia’s I Nyoman Masriadi rocked the stage. His “Back to School” created an intense bidding among phone bidders against room bidders, and eventually pulled in S$ 290,360.
Other highlights include Sunaryo’s “Before the Performance” and Sudjana Kerton’s “Street in Amsterdam” that raked in S$ 134,200 and S$ 67,100 respectively.
Feeding frenzy was also the scene on the bidding of Singaporean modern masters such as Cheong Soo Pieng and Choo Keng Kuang. Soo Pieng’s work on batik cloth (lot 17) titled “Seated Man” fetched S$ 15,860 (529% of the starting price) and Choo Keng Kuang’s “Singapore River” was finally sold for S$ 14,640 (366% of the starting price). Another top performer of the sale was lot 5 by Willem Jan van der Does titled “Kalimas, Surabaya” which finally fetched S$ 12,200 (406% of its starting price).
Exceeding expectations is a painting by a Vietnamese artist Hong Viet Dung (who uses pale and distinctly muted colours to bring a sense of calmness and contemplation in his subjects) titled “The Road Ahead” which raked in S$ 19,250 (642% of the starting price).
Commenting on the success of the sale, Mr Daniel Komala, President and CEO of Larasati’s Auctioneers said : “The market is on the right track and going strong. Collectors are now more well informed and knowledgeable. We worked hard to present this well selected pieces. And collectors showed their appreciation by snapping up over 90% of the lots offered. A great day for art.”
Larasati’s next auction will be in Bali, on end September 2013 and we are currently accepting consignments for this sale. Deadline of entries submission is 30th August 2013.