Tag Archives: Ida Bagus Putu Sena

Investing in Balinese traditional art? Now is the right time.

IMG_8546 National Struggle                    National Struggle, 2016 – Pande I Made Dwi Artha

 

Within the sphere of Indonesian art, Balinese traditional art is a small niche market. It has recently, however, witnessed positive developments, and this progression, both in its appreciation and valuation, is leading to increasing national and international popularity.

The rapid evolution of information technology has led to greater access to knowledge about Balinese art, along with the publishing of more quality art books. Recent developments within the Bali art infrastructure, and the fact that experts believe the market is undervalued, with strong future growth potential, point to now being an excellent time to buy Balinese traditional art as an investment.

"Tapak Dara - Unity Tapak Dara - Pilar Kebangsaan" Aris Sarmanta. Image Richard HorstmanTapak Dara – Unity Tapak Dara – Pilar Kebangsaan, 2017 – Wayan Aris Sarmanta

 

The dynamics leading to Balinese art being underappreciated and undervalued have been due to its perception. Within world art Balinese art has been maligned, often referred to as ‘tourist’ and folk art – a craft without a legitimate place in Indonesian art history. Some of its finest practitioners, however, were, and are today, from the Balinese high castes therefore, it is not an art form exclusive to the common people. The leading artists nowadays are in a life long, ‘sacred’ pursuit dedicated to reaching new levels of technical skill and aesthetic mastery.

Initially collected and exhibited in anthropological museums of the Netherlands, and not in the renowned art museums of Europe, it was presented with a demeaning colonial narrative, referred to as art made by primitive people. This situation, however, has recently undergone change. The institutions with the most important collections of Balinese art have been rebranded – renamed Museums of World Culture. From now on Balinese traditional art will be presented free from the old narratives, given special curatorial attention to its significance, while being exhibited with the highest technological standards. This will impact positively upon its perception and appreciation internationally, and within Indonesia.

Wayan Budiarta - Drowning - 2017                                Drowning, 2017 – Wayan Budiarta

 

During the past twelve years Jakarta auctioneers Larasati have been tireless promoters of Balinese traditional art. 2018 marks the tweleth year of its Bali auctions, held twice yearly in Ubud. Larasati’s website provides sale data from past auctions, information, and access to online live bidding. Market data reveals strong growth for the Ubud painter A.A Gde Anom Sukawati, if you purchased a work in 2003 for about USD 2,000 – 3,000, it can be sold at auction in 2016 at about USD 23,000. Similarly, a collector invested USD 2,000 – 3,0000 in 2003 on a masterpiece by Ida Bagus Putu Sena that sold at auction in 2012 for about USD 14,000.

The major change maker on the Balinese art landscape is the TiTian Bali Art Foundation, located in Ubud. Open in 2016, and specializing in identifying, and nurturing emerging talent and introducing the best artists to the market. During 2017 TiTian presented some of the finest artists from the renowned school of Batuan painting. Wayan Budiarta, Wayan Aris Sarmanta (winner of the 2018 TiTian Prize), Pande I Made Dwi Artha and Gede Widyantara are young talents on the rise. Six paintings by two of these artists were purchased by Museums of World Culture and soon will be exhibited in the Netherlands.

Made Griyawan ' The Unlucky Monkey"                         The Unlucky Monkey, 2016 – Made Griyawan

 

Each year a new sector of world art comes under the auctioneers spotlight at Christie’s and Sotheby’s. In 2017 it was African art – the market response was increased demand, and new record prices. It is inevitable that more international collectors will turn their attention to Balinese art  because of its quality and cheap prices. Could Balinese traditional art be one of the next booming markets?

Buying the right art requires some know how. Here are some tips for new collectors:

-Do your research and learn as much as possible through books and online information.

-Visit museums, galleries, auctions, artist’s studios, and exhibitions. Immerse yourself in art in order to train your eye.

-Get to know collectors and the experts. Seek out advice while learning about the industry.

-The best investment is with the emerging artists. Their works are cheaper and have a great potential for increasing in value and leading to future gains.

-Identify potential future masters by self-research and scouting, or align yourself with artist incubators.

-Invest early on masterpieces by the potential future masters.

-Think long term and hold for at least 10-15 years to wait for the market to mature for profit making.

-Works at auction often sell for prices much lower than that at galleries, or the artist’s studio.

-When buying at an auction set the price that you are not prepared to go above.

-There are still many Balinese works, often treasures, that remain forgotten, or unrecognized, which are stored away, and are yet to find their way onto the market.

-Young talent is thriving in the villages of Batuan, Keliki and Ubud and these important genres are in exciting new eras of development, driven by well-organized art collectives.

-Look out for the Larasati auction previews published online in the Jakarta Post.

bhineka-tunggal-ika-mungku-muriarti-mura                                     Painting by Mungku Muriarti Mura

 

Words & Images: Richard Horstman

Review – Larasati 10th Anniversary Balinese Modern Traditional & Contemporary Art Auction

"Patih Lahwel" Ida Bagus Made Togog.Sold for Rp. 40,000,000. Image courtesy of Larasati                                  Patih Lahwel  –  Ida Bagus Made Togog

 

Results of the special 10th anniversary Larasati Balinese Modern Traditional & Contemporary Art auction at Ubud’s ARMA museum 28 February confirm that the market for Balinese traditional art is growing steadily while providing excellent value through the low to medium and high price ranges.

For sale amongst the 81 lots were wood cravings, one contemporary sculpture, sets of lithographs, watercolours, pastels and ink sketches on paper, and paintings on canvas in natural colours, oils and acrylics at prices beginning at a low Rp. 1.5 million (all sold works incur a buyers premium added on top of the hammer price).

An exciting feature of the sale was Larasati Auctioneers providing for the first ever real time data over the internet allowing easy, direct access to buying opportunities for a global audience. With 90% of the works sold (including 3 over the internet), along with the enormous response by bidders on the phone, (more 25% of the works sold), and all the major lots of “Young & Old Masters” selling, the auction was a huge success.

Wayan Sudana, "Tari Arja", 120x150cm, Acrylic on canvas. sold for Rp. 65,000,000                                    Tari Arja  –  Wayan Sudana

 

“When we started our Bali auctions 10 years ago the buyers were 95% Indonesians,” said Daniel Komala CEO of Larasati Auctioneers, who was very happy with the auction’s results. “In attendance at the auction was a great mix of people, the majority non-Indonesians, and even though the Balinese traditional market is a small niche market, it is truly an international market. Our first experience with real time online platform functioned excellently and we are excited about the future prospects for the growing pool international collectors.”

Paintings by A.A Gede Anom Sukawati (b.1966 Ubud) are rarely available to either the primary or secondary markets (new works and pre-owned). Renowned as one of the finest “Young Masters” Lot #40 “Tari Joged Bumbung”, 2008, with a low estimate price between Rp. 80,000,000 – 120,000,000 sold for Rp. 180,000,000, being one of the most highly prized works of the day. Lot # 39 “Pementasan Calon Arang” by Ida Bagus Putu Sena (b.1966 Ubud) is also a work of extraordinary quality by an artists whose works are difficult to find and sold at the top end of the estimate price at Rp. 200,000,000.

Another highly sought after painting by bidders on the floor and the phone, pushing the price well above the estimated price was Lot #38 “Arja Dance” by Wayan Sudana (1966 Peliatan). This vibrant 120 x 150 cm acrylic on canvas composition sold for Rp. 65,000,000. Considered a ritual specialist from a high caste Brahmin priest family Ida Bagus Made Poleng (1915-1999 Tebesaya) had a special relationship with his paintings, calling them “his children” and rarely sold his works. The most prized of all Balinese painters, Lot #80 his “Legong Dance”, received much attention from phone bidders and sold for Rp. 750,000,000.

Gusti Nyoman Lempad, "The Witch and the Servant" Ink on paper. sold for Rp. 120,000,000 Image courtesy of Larasati                        The Witch and the Servant  –  Gusti Nyoman Lempad

 

Good buys were definitely available at the top end of the auction and Lot # 79,“The Witch and the Servant”, an ink sketch on paper by Gusti Nyoman Lempad (1862-1978 Ubud), considered ‘the’ modern master of Balinese art, sold for Rp. 120,000,000 just under the estimated price. As too was Lot # 66 “Playing Domino’s” by Ida bagus Made Nadera (1915-1989) “Playing Dominos”, estimated by between Rp.10,000,000 -15,000,000 and selling at Rp.10,000,000, Lot # 76 “Upcara Potong Gigi” Ida Bagus Made Widja (1912-1992 Batuan) selling at 18,000,000, and a glowing flora and fauna composition in the Pengosekan style Lot #65 “Harmoni Kehidupan” by Ketut Gelgel, which sold at Rp. 65,000,000. Each of these works are museum quality.

Three of the most highly coveted works in the auction all sold within their estimated prices, Lot # 77, “Blissfully Sleeping” by the maestro of wood carving from Mas village, Ida Bagus Nyana (1912-1985) at Rp.280,000,000, Lot #81 “Boy With Bamboo Stick”, by Made Sukada (1945-1982) hammered down at Rp. 105,000,000 and Lot #78 “Triwikrama” by Gusti Ketut Kobot (1917-1999) which sold for Rp. 80,000,000. Lot #75, however, by Ida Bagus Made Togog (1913-1989 Batuan) an extraordinary black and grey ink sketch on paper “Patih Lahwel” was a hot item selling at more than twice its estimate, at Rp. 40,000,0000 – a rare and special work.

“Harmoni Kehidupan” Ketut Gelgel, sold for Rp. 65,000,000. Image courtesy Larasati                                  Harmoni Kehidupan  –  Ketut Gelgel

 

For new collectors to the market there were good works by favoured artists available at low prices and it must be noted that works are obtainable via auction cheaper than buying directly from artist’s studios. A 10 year future projection of current prices would confirm that buying now is a sound investment, while researching prices from the Larasati auctions 10 years ago confirm this to be true.

Balinese traditional art offers enormous scope for the astute investor to capitalize. The prices for the old masters of Balinese art remain strong and the market is expanding in a healthy way. The fact that the market is growing slowly, yet solidly is a fine achievement for Larasati Auctioneers.

A.A Gede Anom Sukawati-"Tari Joged Bumbung". Image courtesy of Larasati                        Tari Joged Bumbung  –  A.A. Gede Anom Sukawati

 

Words: Richard Horstman

Images: Courtesy of Larasati