Indonesian Art Growing in Popularity With Regional Collectors: Reviewing Sotheby’s Hong Kong Autumn Sales 2016

sothebys-auction-scene_modern-and-contemporary-asian-art-evening-sale-image-coutesy-sothebysScene from the Sotheby’s Sale 2 October, Affandi’s “Borobudur and the Sun” 1984, sets a new world record for the artist selling for US $ 1.26 million. All Images courtesy of Sotheby’s  Hong Kong.

 

More than 290 items of fine art went under the hammer in two auctions of special interest to collectors of Indonesian Modern and Contemporary Art during Sotheby’s Hong Kong Autumn Sales 2016. The Modern and Contemporary Asian Art Evening Sale 2 October, and the Modern and Contemporary Southeast Asian Art Day Sale 3 October featured paintings by the prominent Indonesia artists. More than half the total of auction lots sold achieving prices over their high estimates, reflecting a well-curated sale aligned with the current market.

affandi_borobudur-and-the-sun                        “Borobudur and the Sun” 1984 – Affandi.

There were two notable highlights of the Modern & Contemporary Asian Art Evening Sale, of the four works by Indonesia’s most internationally renowned modernist Affandi (1907-1990), 2 sold within their estimated prices, however Lot # 1034 “Borobudur and The Sun” 1984, estimated between US$ 585,000 – 880,000 set a new world record for the artist selling for US $ 1.26 million, including the buyers premium.

ay-tjoe-christine-when-it-is-the-only-path-of-going-home-image-courtesy-of-sothebys-hong-kong“When It Is the Only Path of Going Home” – Ay Tjoe Chrsitine. Sold for US $ 429,000.

Indonesia’s most sought after female contemporary painter Ay Tjoe Christine (b.1973) is distinguished by her sensitive, yet often dark and moody abstract compositions. Lot # 1071 “When It Is the Only Path of Going Home”, estimated price between US $ 77,500 -104,000 sold for a whopping US $429,000. Another work by Affandi, Lot #1035 “Balinese girl with Piglet” estimated between US $ 232,000 – 322,000 sold for US $ 505,000.

lee-man-fong_satay-vendor-with-mother-and-son “Tukang Sate Dengan Anak & Ibu” – Lee Man Fong. Sold for US $ 161,000.

Lot # 1064 by Lee Man Fong (1913-1988) “Setelah Mandi” with an estimated price between US $ 77,000 – 116,000 sold for US $ 145,000. Lot # 1061 “Village Life” 1975, by Hendra Gunawan (1918-1983), estimated between US $ 710,000 – 1,100,000, sold for US $ 846,000, while Lot # 1073 “Proud” 2012, by Nyoman Masriadi (b.1973), estimated between US $ 258,000 – 387,000 sold for US $320,000.

09_hendra-gunawan_chicken-vendors               “Pedagang Ayam” – Hendra Gunawan. Sold for US $ 350,771.

Highlights of the 3 October Modern & Contemporary Southeast Asian Art Day Sale include Lot # 399 “Landscape Gunung Kawi, Bali” by Srihadi Sudarsono (b.1931), estimated price between US$ 49,000 – 71,000, sold for US $ 89,000. Lot # 391 “Pedagang Ayam” by Hendra Gunawan estimated between US $154,000 – 232,000, and sold for US $ 350,771, and Lot # 368 “Three Women in the Garden” by Adrien le Mayeur (1880-1958) estimated between US $ 154,000 – 232,000 sold US $ 319,821.

srihadi-sudarsono_landscape-gunung-kawi-bali       “Landscape Gunung Kawi, Bali” – Srihadi Sudarsono. Sold for US $ 89,000.

Again Ay Tjoe Christine was popular, Lot # 218 “When I See It Is The Only Way Home #1”, estimated between US $ 38,000 – 64,000 sold for US $ 258,000. Mochtar Apin (1923-1994) with Lot # 385 “Memecah”, a wonderful abstract triptych with an estimated price between US $ 38,000 – 64,000 sold for US $ 92,720. Lot # 364 “Exotic Nude With Gong” by Antonio Blanco (1923-1991) with an estimated price between US $ 8,000 – 12,000 sold for US $ 25,972.

2-lot-368-adrien-jean-le-mayeur-de-merpres_three-women-in-the-garden   “Three Women in the Garden” – Adrien le Mayeur. Sold US $ 319,821.

Lot # 227 “Seven Magnificent Masterpieces #1&2”by Bali’s Gede Mahendra Yasa (b.1967) is from a series focusing on the exploration of Balinese aesthetics, with an estimated price between US $ 38,700 – 64,500 the works sold for US $ 116,000. Collectors responded with enthusiasm to works by emerging artists demonstrating the healthy development of the market, two Indonesian artists with strong results were Oky Rey Montha (b. 1986) Lot # 225 “The Dark Salvador” estimated price between US $ 5,800 – 8,300 sold for US $ 11,284, and M Irfan (b. 1972) with Lot #237 “One Day For Good Day” estimated between US $19,000 – 25,000 and selling at US $ 40,000.

mochtar-apin_memecah-triptych-1 “Memecah” – Mochtar Apin. One third of the triptych that sold for US $ 92,720.

The recent death of renowned Dutch colorist Arie Smit (1916-2016) was an enormous loss to Indonesian art. Thirteen paintings within a range of prices went under hammer, four failed to sell, while 8 sold within the estimated prices, however Lot # 348 “Full Moon in Bali”, estimated price between US $ 14,000 – 20,000 sold for US$ 20,956. Other well known artists included in the sales were S. Sudjojono, Dullah, Agus Suwage, Entang Wiharso, Agung Mangu Putra, Heri Dono, Rudolf Bonnet and Willem Hofker.

gede-mahendra-yasa_i-seven-magnificent-masterpieces-image-courtesy-of-sothebys“Seven Magnificent Masterpieces #2” – Gede Mahendra Yasa.  His two works sold for US $ 116,000.

“In 1996, Sotheby’s began selling Southeast Asian Art in Singapore. The auctions for the category moved to Hong Kong in 2008, providing a platform for increased international exposure,” said Sotheby’s Hong Kong Head of Department, Southeast Asian Art, Kim Chuan Mok.

“Southeast Asian art is considered relatively affordable compared to art in other regions, making it a popular entry point for new collectors. Indonesia dominates the region’s art market with a greater than 50 percent market share based on total auction sales at Sotheby’s and Christie’s.”

lot-348_full-moon-in-bali                     “Full Moon in Bali” – Arie Smit. Sold for US$ 20,956.

An example of the buoyancy of this market was evident at the 2015 Sotheby’s Autumn Sale with Hendra Gunawan’s “Bathing in the Shower” selling for US $ 1.3 million, more than 5 times higher than the most expensive Southeast Asian painting sold at the first auction for the category in 1996. The results of the 2 & 3 October auctions confirm the growing demand for Indonesian modern and contemporary art by regional collectors (Taiwan, Hong Kong & Japan), especially works by the maestros, by collectors seeking quality.

nyoman-masriadi-proud-image-courtesy-of-sothebys-hong-kong

“Proud” 2012 – Nyoman Masriadi.  Sold for US $320,000.

Words by Richard Horstman

 

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