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Christie's Hong Kong Autumn 2009 Auction Series Totals US $212.5 Million

HONG KONG.- Christie's Hong Kong completed its five-day Autumn sales with strong results across the board in Asian art, watches, jewelry and wine. Totaling HK$1.65 billion/US$ 212.5 million/£ 128 million, the results show a robust recovery of the art and auction market, giving Christie’s a 58% market share for the year in Asia. Records were achieved in a range of categories, including Chinese modern paintings and works of art, Asian contemporary art, watches and jewelry, reaffirming the consistent demand by collectors for the best and rarest.

As confidence returns to the global economy, collectors – the majority being private buyers from Asia (86.4%) and Greater China (69%) – showed increasing sophistication and persistence in their bid for works they wished to acquire.

“We are seeing a return of passion in the art market.” said Andrew Foster, President of Asia at Christies. “From the record-breaking Vivid Pink diamond to the record prices achieved for works by Chinese 20th Century Chinese artist Chu Teh-chun and modern Chinese painter Fu Baoshi, we could see collectors buying what they are passionate about, and consignors being rewarded for their confidence.”

Ed Dolman, Chief Executive at Christie’s, also commented, “Our Hong Kong sales clearly indicate the tremendous potential of the Asian art and auction market, and we believe the momentum of these sales will play a crucial role in driving a real recovery. This revival will no doubt inject renewed confidence among consignors to return to the art market.”

CHRISTIE’S HONG KONG AUTUMN AUCTION: SEASON RESULTS REVIEW

Fine Chinese Modern Paintings
Fine Chinese Classical Paintings and Calligraphy
Sunday, November 29
Christie’s Autumn sales of Fine Chinese Modern Paintings and Fine Chinese Classical Paintings and Calligraphy realized a combined total of HK$349 million (US$45 million) – the highest total ever for Christie’s Hong Kong in this category. The morning session of Fine Chinese Modern Paintings totaled HK$208 million (US$26.8 million) and was 90% sold by value, and 84% sold by lot. This sale saw a new world auction record for Chinese artist Fu Baoshi with Landscape Inspired by Dufu Poetic Sentiments, a monumental work that sold HK$60 million (US$ 7.7 million), far-exceeding its pre-sale estimate of HK$35million. The Fine Chinese Classical Paintings and Calligraphy sale which followed totaled HK$141 million (US$18.2 million) and was 95% sold by value, 76% sold by lot. The top lot - a handscroll by Ren Renfa entitled Five Drunken Kings Return on Horses - sold for HK$ 46.6 million (US$ 6 million), more than seven times its pre-sale estimate.

Market Update: The results from the Chinese Modern and Chinese Classical Paintings sales indicate a consistent demand from collectors for top quality and rare works with important provenance that are sourced from around the world. The strength of the market is clear from the large proportion of sold lots over the high estimate - 70% in both sales - with some lots exceeding their high estimate by six or seven times. These strong results reflect the continued appeal of, and the robust market for, the Chinese Paintings category.

Asian Contemporary Art and Chinese 20th Century Art Evening Sale
Asian Contemporary Art Day Sale & Chinese 20th Century Art Day Sale
Sunday, November 29- Monday November 30
The Evening and Day sales of Asian Contemporary Art and Chinese 20th Century Art show a robust recovery of the art market in Asia, achieving a combined total of HK$389.3 million (US$50.2 million) which represents a 48% increase over the Autumn 2008 season. The sales were a combined 93% sold by value and 74% sold by lot. Leading the three sales this season was Chu Teh-Chun’s Vertige Neigeux which sold in the Evening Sale for HK$45.5 million (US$5.9 million) – a new world auction record for the artist.

The momentum of the Evening Sale continued with the two Day Sales that followed. The Chinese 20th Century Art Day Sale totalled HK$72.2 million (US$9.3 million) with 97% sold by value and 83% sold by lot. Following the new auction record for Chu Teh-Chun, Hivernale A¸ another of the artist’s snow scene-themed works, sold for HK$7.34 million (US$947,000), over three times its pre-sale high estimate. The Asian Contemporary Art Day Sale totalled HK$54.5 million (US$7 million) with 85% sold by value and 69% sold by lot. Among the artist records set were Li Chen’s Pure Land which fetched HK$2.9 million (US$374,000) and Zeng Fanzhi’s Study for Mask Series 1998 which set a new auction record for a work on paper by the artist at HK$1.7 million (US$219,000).

Market Update: With the average lot value across these three sales increasing 26% compared to the Spring 2009 season and with 67% of the series offerings selling over their high estimate, these results reflect the continued demand and global interest in these dynamic categories. The Chinese modern masters remain particularly strong and highly sought-after by collectors again this season. In addition to the record price for Chu Teh-Chun, the Evening Sale posted impressive results for Zao Wou-Ki and Sanyu. Potted Flowers in a Blue and White Jardinière from Sanyu fetched the third highest price ever achieved for the artist at auction at HK$ 34.8 million, nearly three times its high estimate. Zao Wou-Ki’s 19-11-59 sold for HK$30.3 million (US$3.9 million), also the third highest result for the artist at auction. The top five lots of the Day Sale each soared high above estimates, underscoring the competitive bidding and strong demand for works from China’s modern masters.

The results of this season’s Asian contemporary offerings reveal a market that continues to show a growing sophistication and a sincerity in buyers pursuing what they like, as seen in the new record for contemporary Japanese-American artist Masami Teraoka in the Evening Sale and the record for a work on paper by Zeng Fanzhi in the Day Sale. While the contemporary offerings saw active cross-buying from buyers around Asia, the top ten results of the Day Sale also comprise 6 Chinese artists, 3 Korean artists and 1 Japanese artist. These results reinforce Christie’s foresight in presenting the diversity of Asian contemporary art in a single consolidated sale, a concept pioneered by the auction house in 2005.

Southeast Asian Modern & Contemporary Art
Monday, November 30
The Autumn 2009 auction of Southeast Asian Modern and Contemporary Art saw upbeat results with total sales of HK$33.5 million (US$4.3million) and strong selling rates of 95% sold by value, 78% sold by lot. Impressive prices across the board were driven by Asian private collectors, with 64% of the lots selling above their high estimate. These results - a 64% increase over the Spring 2009 season total - mark a resounding vote of confidence for the category’s modern masters and the rebound of the Southeast Asian contemporary art market.

Market Update: Indonesian modern art led the way triumphantly, with two works by Lee Man Fong, Man with horses and Doves, seeing passionate bidders driving the prices of both works to multiple times their estimates. Strong offerings from Affandi and Hendra Gunawan were received favourably by the market as well. Following on the committed bidding for these works were noteworthy prices registered for modern art from Thailand, Malaysia, Singapore, Vietnam and the Philippines, demonstrating the depth and appeal of a truly Southeast Asian modern art market.

First-rate contemporary works maintained their lustre with discerning buyers from well beyond Asia competing for quality works. Indonesian I Nyoman Masriadi's Master Yoga recorded the notable price of HK$3.62 million (US$467,000) - the highest paid for the artist at auction anywhere this year. Also of note in the contemporary section were the impressive results for Geraldine Javier, Handiwirman Saputra, Gede Mahendra Yasa, as well as encouraging results for emerging and first-time-at-auction artists such as Sugiyo Dwiarso.

Important Chinese Lacquer from the Lee Family Collection, Part II
Important Chinese Ceramics and Works of Art
Tuesday, December 1
Christie's Autumn 2009 sales of Important Chinese Ceramics & Works of Art realized a combined total of HK$371 million (US$48 million) - an increase of 15% over the Spring 2009 season. The sale of Important Chinese Lacquer from the Lee Family Collection, Part II totalled over HK$90 million (US$11.6 million) and was 87% sold by lot, 95% sold by value. The sale of Important Chinese Ceramics & Works of Art that followed totalled HK$281 million (US$36.4 million). Leading the season’s offerings was a magnificent carved cinnabar lacquer square tray depicting figures in a landscape from the Ming dynasty, Hongwu period (1368-1398). Superbly carved and formerly in the collection of Sir John Figgess, this work fetched HK$25.3million (US$3.3million), a record for a cinnabar lacquer tray.

Market Update: The strong results from Part II of the Lee Family collection of Chinese lacquer reflects the firm demand for top quality works in what is still a relatively new collecting category. Works from this much-respected collection attracted tremendous pre-sale interest from collectors around the world, who were eager to acquire museum-quality pieces which had been selected with enormous care over a 30-year period by one of the most knowledgeable collectors in this field, K.T. Lee. Enthusiastic bidding came from a range of international clients, with noticeable participation from established collectors in the West. In addition to the top price of the day with the record cinnabar lacquer tray, this sale saw a record price paid for a Chinese mother-of-pearl inlaid lacquer with an outstanding and extremely rare Yuan dynasty (1279-1368) mother-of-pearl inlaid octagonal box and cover that sold for HK$20.8 million (US$2.7 million).

International bidding was significant throughout all collecting categories, with participation from Mainland Chinese clients even more prominent this season - by comparison with Autumn 2008, the number of successful Mainland Chinese buyers increased 63%. Among the most sought-after works in the sale of Important Chinese Ceramics & Works of Art were important ceramics made for the Qing court- a collecting category that is a perennial favourite with today’s collectors. Works of significant provenance performed extremely well, as evidenced by the superb white jade buffalo from the Qianlong period (1736-1795) formerly in the collection of the famous Dutch industrialist and collector Hugo Tutein Nolthenius, which sold for HK$20.8 million (US$2.7 million). The well-established provenance of this work, combined with its freshness to the market, helped ensure that this delightful sculpture was the highest sold jade in the sale.

Christie's | Andrew Foster | Hong Kong Autumn Auction |

ART EXPO MALAYSIA 2009

Biggest art exhibition opens today

2009/11/19

KUALA LUMPUR: The third international Art Expo Malaysia 2009 will showcase 2,000 art pieces from Malaysian and international galleries.

Held at the Matrade Exhibition and Convention Centre from today until Monday, the expo features paintings, sculptures, new media and installations.

Admission is free.

Billed as the biggest art exhibition in the country, it is organised by Art Expo Malaysia Sdn Bhd and National Art Gallery of Malaysia. The latest and best creations of artists from overseas and Malaysia will be displayed under one roof.

Seventeen Malaysian art galleries are taking part in the expo. These include RA Fine Arts, City Art Gallery, Pelita Hati House of Art, Annexe Gallery and House of Mata Hati.

Fourteen countries including Hungary, China, India, Japan, Spain, South Korea, Thailand, Canada, France, Portugal, are represented through the respective art galleries at the expo.

An official 344-page commemorative catalogue, which is expected to be a collector's item, will be among the expo's key attractions.

The expo is held under the royal patronage of Tuanku Raja Puan Muda Perlis Lailatul Shahreen Akashah Khalil.

For details, call 03-7228 3677 or 012-206 1345. -- By Naveen Mathew Menon

ART EXPO MALAYSIA 2009

3rd International Art Expo Malaysia 2009
Date: 19 Nov - 23 Nov 2009

Time:
10.30 a.m. – 7.30 p.m.   (19 – 22 November)
10.30 a.m. – 5 p.m.        (23 November)
Entrance is FREE.

Art Expo Malaysia 09 provides the opportunity for visitors to admire 2,000 pieces of artworks (paintings, sculptures, new media art, and installation) from local and abroad at once, under one roof.

Art Expo Malaysia (AEM) 09 - Riding out the tough times By OOI KOK CHUEN

THE International Art Expo Malaysia 09 (AEM 09) faces one of its biggest challenges in its third edition this November.

Slated at the Matrade Exhibition and Convention Centre (MECC) from November 19 to 23, the AEM which is still a privately initiated and funded project is held under a swirl of economic uncertainty and competition from two new fairs from the Philippines and Singapore in the South-east Asian region.

When the US subprime and financial crisis hit early this year, AEM chairman Vincent Sim made a tough call of carrying on with the show and even went ahead with an upgrade which resulted in reputable local galleries and art spaces joining in. But this, at a heavy price of turning away many lesser galleries or artist-run spaces.

Said AEM project director Sim Pojinn: "We have finally convinced more of the more established galleries to come in, to showcase a broad spectrum of our art expressions and practices. We are also sparing no expenses despite the economic gloom in offering a range of exciting events to make this AEM 09 a memorable affair."

The Malaysian bandwagon will have Pelita Hati House of Art, Artseni, City Art Gallery, Metro Fine Art, Artcase Galleries, Threehundredsixty, Sutra Gallery, RA Fine Arts, Artfolio, Yahong Art Gallery, Richard Koh Fine Art, a2 Gallery, The Annexe Gallery, House of Matahati, ESPI Fine Arts, arteri and artsalon@SENI (The Art Gallery, Penang). There will be more than 100 Malaysian artists represented by these galleries in AEM 09.

Until this year, only Malaysia and Singapore share the Art Expo limelight, with Singapore basking in heavy government funding and support. However, the entry of new players may not necessarily stifle the market but the greater awareness and interest could instead spur more cross-border collecting which has huge potential.

This year's AEM will see the entry of Japan for the first time through Noda Contemporary, which has a dual base in Nagoya in Japan and Beijing in China, while Janus Art Gallery and Samanvai Art Gallery will re-stoke the ravenous interest in contemporary Indian art which saw a spectacular boom until the global recession set in. Janus Art Gallery boasts of a strong accent on Bengal art with a tradition going back to Abanindranath Tagore (1871-1951).

Singapore, with its enviable strategic role as a financial centre and growing cultural hub, not only showcases its home-grown talents but also the hot-ticket names from China and leading artists from the more reclusive Myanmar. Jasmine Fine Art and Linda Gallery will also be making an impact.

The Philippines and Indonesia will be represented by Galeri Joaquin whereas Indonesia will be represented by Koong Gallery, Puri Art Gallery, H Gallery. Chit Fung Art, a respected Hong Kong gallery in traditional Chinese brush painting dealership will doubtless unveil works by their heavyweights.

A three-time 'client' is ATR Gallery with its highly compelling stable of bankable Spanish artists such as Jesus Curia and Guillermo Oyaguez, one of the 'darlings' of the Madrid 2009 art fair, and ditto the Hungarian father-and-son outfit of Zoltan and Daniel Ludvig with their polished works.

Taiwan is also making a strong presence with Licence Art Gallery, William Contemporary Art Space and Capital Art Centre under York Hsiao.

As usual, South Korean artists under the International Art Cooperative Organization (IACO) will offer a tantalising potpourri of the traditional and the modern by repeat participants and newcomers. They will be led by Lee Byun-Lyol, whose accomplishments in watercolours are noted.

AEM 09 will also be chockful of interesting events. Heading the list must be the Digital Art China video art/animation bombardment from China's Super Six of Digital Art namely Miao Xiao Chun, Feng Jiangzhou, Bu Hua, Zhang Xiaotao, Li Qintan and Feng Mengbo. Miao, who mesmerised with his work based on Michelangelo's Last Judgement several years ago, will offer a futuristic take on Hieronymus Bosch's The Garden of Earthly Delights in a work called Microcosm.

There will also be a special exhibition called 19 Dons from China featuring works by 19 leading professors from the Central Academy of Fine Arts (CAFA). That these two highlights are from China have nothing to do with China's growing economic and political clout in the world, but more so the celebrations of the 35th year of bilateral relations between Malaysia and China.

This year, the AEM's signature Tribute Pavilion honours academician-artist-ceramist Cheah Yew Saik, the founder-principal of the Kuala Lumpur College of Art (1968-2002). Previous tributes showcased the works of Datuk Chuah Thean Teng (1912-2008), Datuk Syed Ahmad Jamal, Dr. Chung Chen Sun (all Malaysia), Prof. Li Chi Mao (Taiwan) and Prof. Jang Soon-Up (South Korea).

Malaysian Art Idols: New Directions/Different Voices will offer a glimpse of seven of Malaysia's leading contemporary artists in a pilot episode. They are Chan Kok Hooi, Fauzin Mustafa, I Lann Yee, Kelvin Chap Kok Leong, Kow Leong Kiang, Multhalib Musa and Ramlan Abdullah.

The National Art Gallery willbe presenting its Malaysian Open 2009 comprising the trinity of the exhibition, the auction (scheduled for December) and the formation of the Malaysian Association of Galleries.

The 1Malaysia Canvas Mosaic will assemble 5in x 5in strips representing interpretations of the 1Malaysia concept to be unveiled as a super mural early next year. Completed works will be previewed at the 1Malaysia Booth at the AEM 09.

AEM '09 will also stir up interest in the Henry Butcher Art Auction scheduled in Kuala Lumpur early next year, with a display of a few prominent works that will go under the hammer as well as entertaining pertinent enquiries.

Its commitment to charity will see the HeArt Group comprising young artists with special needs again showcasing their skills in art.

AEM 09 is under the patronage of the art-loving Raja Puan Muda of Perlis Tuanku Hajjah Lailatul Shahreen Akashah Khalil.

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