The market in the emerging art hub of the new international order including countries like India and Indonesia is fast maturing similar to that in New York and London previously. In a way, one can assert that broader Asian art scenario is fast attaining a global scale from an earlier narrow regional flavor and feel to it.
It was way back in 2002 that Tyeb Mehta’s iconic ‘Celebration’ was sold for over $317,000, the first work ever to scale the $100,000 mark. Later, the $2 million mark was crossed for SH Raza’s ‘La Terre’ and ‘Birth’ by FN Souza. Now, in acknowledgment of the progress made by the category, considered a powerful parallel to its more hyped Western counterpart, global auction houses are giving a place of pride to art and artists from this particular region in the last couple of years.
For example, a sale of Modern & Contemporary Southeast Asian Paintings in October late last year totaled a stunning $15.5 million, to surpass the pre-sale estimate of $5.8 million, then achieving the highest auction total for this category. Lee Man Fong, the Indonesian modern master, fetched $4.4 million for ‘Fortune and Longevity’ setting a new record ever for any Southeast Asian artist globally.
Other artists achieving far more than original estimates included Indieguerillas (Indonesia), Walasse Ting (China/America), Rodel Tapaya, Alfredo Esquillo Jr, Geraldine Javier, and Nona Garcia (the Philippines). I Nyoman Masriadi, Affandi, Eko Nugroho, Agus Suwage etc (Indonesia), Suzann Victor (Singapore), Vasan Sitthiket (Thailand), Alfredo and Isabel Aquilizan (Philippines), Tran Luong (Vietnam), and Wong Hoy Cheong (Malaysia) are many of the noteworthy artists who dominate the auction scene. According to Hugo Weihe, their International Director of Asian Art, the country has transformed socially and economically and its art has a great future.
He has been quoted as saying: “With every sale, we have broadened the overall perspective of what Indian and Southeast Asian art truly is. Interest in it is increasing across the globe. The market is even emerging in China and South America, and is already a global phenomenon. Of course, this is just the beginning!”
It was way back in 2002 that Tyeb Mehta’s iconic ‘Celebration’ was sold for over $317,000, the first work ever to scale the $100,000 mark. Later, the $2 million mark was crossed for SH Raza’s ‘La Terre’ and ‘Birth’ by FN Souza. Now, in acknowledgment of the progress made by the category, considered a powerful parallel to its more hyped Western counterpart, global auction houses are giving a place of pride to art and artists from this particular region in the last couple of years.
For example, a sale of Modern & Contemporary Southeast Asian Paintings in October late last year totaled a stunning $15.5 million, to surpass the pre-sale estimate of $5.8 million, then achieving the highest auction total for this category. Lee Man Fong, the Indonesian modern master, fetched $4.4 million for ‘Fortune and Longevity’ setting a new record ever for any Southeast Asian artist globally.
Other artists achieving far more than original estimates included Indieguerillas (Indonesia), Walasse Ting (China/America), Rodel Tapaya, Alfredo Esquillo Jr, Geraldine Javier, and Nona Garcia (the Philippines). I Nyoman Masriadi, Affandi, Eko Nugroho, Agus Suwage etc (Indonesia), Suzann Victor (Singapore), Vasan Sitthiket (Thailand), Alfredo and Isabel Aquilizan (Philippines), Tran Luong (Vietnam), and Wong Hoy Cheong (Malaysia) are many of the noteworthy artists who dominate the auction scene. According to Hugo Weihe, their International Director of Asian Art, the country has transformed socially and economically and its art has a great future.
He has been quoted as saying: “With every sale, we have broadened the overall perspective of what Indian and Southeast Asian art truly is. Interest in it is increasing across the globe. The market is even emerging in China and South America, and is already a global phenomenon. Of course, this is just the beginning!”
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