52 17th April 2010
international events
“Christie’s and Sotheby’s posted solid performances of Indian and South East Asian art… Totals at all three sales were double that of the same series last year”
Bombay Progressives dominate at Sotheby’s
THE 74-lot modernist painting section formed the core of Sotheby’s March 24 Indian and South East Asian sale, contributing two thirds of the $6.69m (£4.43m) overall tally. Works by the Bombay Progressive artists dominated the top ten results at both houses. At Sotheby’s, an untitled 1955 oil on canvas by M.F. Husain, pictured above, topped proceedings at $880,000 (£583,000), while Syed Haider Raza’s 1989 acrylic on canvas, Gestation, made $1m (£662,000) at Christie’s the previous day.
A scholarly $550,000
THIS Kangxi period (1662-1722) porcelain brushpot, above, was a crowning glory at Christie’s Blumenfield collection on March 25. Its rise in value from its last auction appearance in 2004 illustrates the pace of the market for pedigree Chinese-taste works with provenance. A brushpot is arguably the quintessential scholar’s object and this 53
in (14cm) high vessel with its fragile mother-of-pearl and black lacquered decoration and poetic inscription was an unusual example. London dealership Knapton Rasti Asian Art paid £26,290 (including premium) for it at Christie’s King Street in 2004. Here it sold to Beijing dealer Michael Lung at $550,000 (£364,000).
/8
Christie’s Hugo Weihe reported a significant rise in the numbers of Indian and non-resident Indian buyers for modernist paintings on the same series
last year and felt that confidence was back in the market for classical sculpture. Foremost in his March 23 classical outing
was a Gupta period 5th century red sandstone Jain head at $820,000 (£543,000).
NEW YORK JAPANESE, KOREAN, INDIAN & S.E. ASIAN SALES
Net total
No of lots
Indian & S.E. Asian Art
Christie’s
Indian & S.E. Asian Art
Sotheby’s
Japanese & Korean Art
Christie’s
Japanese Works of Art
Bonhams
Evidence of flower power
JAPANESE and Korean sales generate nowhere near the same levels of interest as the Chinese auctions. But buyers have never fallen away for top-quality rarities such as this bulging 191
/4 in
(49cm) high, Korean, 18th century blue and white jar, left, offered at Christie’s on March 24. Jars of this size and quality would have been made for the royal family and this example is unusual for its floral rather than dragon design. An Asian buyer bid $550,000 (£364,000) for the fresh-to-market consignment.
Quality Meiji period (1868-1912) works of art also made good money and a $206,500 (£136,500) Meiji cloisonné enamel incense burner furnished the Japanese section with one of its most contested highlights.
23/03/10
S.E. Asian Modern & Contemporary
Christie’s
23/03/10 24/04/10 24/03/10 25/04/10 171 91 180 166 309 $5.01m (£3.32m) $7.35m (£4.87m) $6.70m (£4.43m) $3.68m (£2.44m) $825,050 (£546,400) 75% 82% 73% 63% 53%
Sold in lots
Sold in money
80% 95% 84% 69% 52%
Philadelphia makes its mark
NEW York was not alone in offering Asian art in March. Philadephia’s Freemans
(25/20/12% buyer’s premium) staged
an 854-lot outing that fetched a premium-inclusive $1.29m (£858,000). Bidding was more selective at 53 per cent by lot, but market trends seen in New York were apparent here.
This decorative but damaged and
restored 18th/19th century Chinese-taste stained ivory carnelian-mounted ruyi sceptre, pictured left, sold to the mainland at $67,000 (£44,500), while Chinese interest in early 20th century Republic porcelain led to a $28,000 (£18,500) bid for a painted hu-form vase.
Some good news for the only show in town
SADLY down in numbers, but not in confidence or
sales, this spring’s Arts of Pacific Asia Fairin New
York from March 25 to 28 was up to par and there were no complaints from the 65 specialists who cover a formidable range of Asian art. Last year they moved from their long-time home at the Lexington armory, which is being used by the military, to 7W New York, a space opposite the Empire State Building. Not a popular move. But this year for the 19th airing of what is now the only Asian fair in town, exhibitors have come to terms with their new home.
This is not the late Haughton fair, or even, like some of the shows around town, offering museum quality at mega prices. It is affordable with plenty on offer in four or even three figures. There are works costing many thousands but that is not what the fair is known for.
Pimlico Indian textiles specialist Joss Graham had his best ever Asian fair total; Nicholas Pitcher of Bond Street did much like last year, mainly with his New York clients, while fellow Bond Street dealer David Baker enjoyed sales 50 per cent up on 2009.
There was more South East Asian, particularly
Tibetan, art selling, although Chinese is still the strongest market, with Chinese buyers active in the opening days.
One reason for no complaints is that exhibitors are worried about the fair’s future. It has lost a third of its dealers in recent years; if it loses more organisers Casky-Lees may think of cancelling it, as they did their New York tribal fair. All agree that would be disastrous for both
Asia Weekand the exhibitors, who urge people to return to the fair. As one said: “Not only is the fair well worth doing, it is the only one to do.”
David Moss
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72