The First Art Newspaper on the Net   Established in 1996 United States Sunday, April 22, 2018

Sotheby's Modern and Contemporary Southeast Asian paintings sale achieves $15.5 million
Auction records set for any Southeast Asian paintings and for the artist when Indonesian Modern artist Lee Man Fong’s Fortune and Longevity sells for HK$34.26 million / US$4.4 million(Expected to fetch in excess of HK$12 million / US$1.54 million). Photo: Sotheby's.

HONG KONG.- On the third day of Sotheby’s Hong Kong Autumn Sale Series 2012, the sale of Modern and Contemporary Southeast Asian Paintings commanded a stunning total of HK$121 million / US$15.5 million, surpassing the pre-sale estimate (HK$45 million / US$5.8 million) and achieving the highest auction total for this category. The sale also set auction records for any Southeast Asian painting and for the artist when Fortune and Longevity (pictured above) by Indonesian modern master Lee Man Fong sold for HK$34.26 million / US$4.4 million.

Bidding of Fortune and Longevity opened at HK$4 million and jumped sharply to HK$10 million after the sixth bid. The masterpiece was sold for an astonishing price of HK$34.26 million / US$4.4 million after 27 furious bids to a phone bidder. (Note: The previous auction record for Southeast Asian Paintings was also held by Lee Man Fong and was achieved by Sotheby’s Hong Kong when Bali Life sold for HK$25.3 million / US$3.2 million in April 2010.)

MOK Kim Chuan, Sotheby’s Head of Southeast Asian Paintings, said: “Buyers responded with enthusiastic biddings to today’s carefully curated sale of Modern and Contemporary Southeast Asian works, many fresh-to-the-market, with desirable provenance, rarity and quality, and gave us a record sale of Modern and Contemporary Southeast Asian Art. There had been extraordinary interest in Lee Man Fong’s attractively estimated Fortune and Longevity, a large-scale masterpiece which is unique within the artist’s corpus in its scale, rarity, significance, and creative and technical brilliance. Ten bidders pursued the work, driving the final price to almost tripling the pre-sale expectation and set auction records for any Southeast Asian painting and for the artist. The sale offered fine examples of the leading artists of the Nanyang School and received strong support from Singaporean buyers. Building on our success with the Bandung school in our Spring sale we were able to source more exceptional works, for example, But Mochtar’s bronze Hubungan Keluanga (Family Ties), which attracted keen interest and sold for many multiples of its high estimate.

The market for this category is broadening and we have seen active participation today from bidders across the region. There were significant interests from established markets such as Indonesia, The Philippines and Singapore, and also from new markets in the Greater China Region, with increased participation from Taiwanese collectors.”

The sale of Fine Chinese Paintings and Important Watches will be held tomorrow at 10am and 11am respectively at the Hong Kong Convention and Exhibition Centre.

* Estimates do not include buyer’s premium

Today's News

October 8, 2012

Exhibition at the Grand Palais seeks to shed light on Edward Hopper's works of art

Chinese artist Ai Weiwei gets showcase at Smithsonian's Hirshhorn Museum and Sculpture Garden

Rothko mural defaced by a vandal who scrawled graffiti on the painting at London's Tate Modern

Major exhibition offers unprecedented examination of Picasso's black-and-white palette

One of the most important collections of 20th Century German and Austrian art in the world on view at Richard Nagy

Exhibition of new paintings by Luc Tuymans inaugurate David Zwirner's new space in London

Sotheby's Hong Kong 20th Century Chinese Art Fall Sale totals $24.6 million

Major exhibition at Turner Contemporary brings together a selection of Alex Katz' works

The Museum of Modern Art presents Alina Szapocznikow: Sculpture Undone, 1955-1972

Iraqi-American artist Ahmed Alsoudani opens first exhibition at Haunch of Venison in New York

Bertoia's announces Nov. 10 auction of Dick Claus antique boat and nautical toy collection - Part II

Benrimon Contemporary opens exhibition in conjunction with the publication of Thank You Andy Warhol

Kunsthal Rotterdam presents "Avant-Gardes: The collection of the Triton Foundation"

Amon Carter presents "To See as Artists See: American Art from The Phillips Collection"

Dayton Art Institute exhibition features the 'Lightpaintings' of artist Stephen Knapp

Christie's to offer a stunning portrait of Joan Collins as part of the Collection of Douglas S. Cramer sale

Tampa Museum of Art fall exhibition celebrates the works of legendary photographer Henri Cartier-Bresson

Hamilton College opens new Ruth and Elmer Wellin Museum of Art

Sotheby's Modern and Contemporary Southeast Asian paintings sale achieves $15.5 million

Most Popular Last Seven Days

1.- John Surtees' one-owner 1957 BMW 507 to be offered for the first time at Bonhams Festival of Speed sale

2.- Antiques looted in Libya by IS sold in Spain, two experts arrested

3.- The world's oldest bridge to be preserved by the British Museum's Iraq Scheme

4.- Exquisite jewels dazzle in historic Cartier exhibition at the National Gallery of Australia

5.- Now showing in US cinemas: "Hitler VS Picasso and The Others" directed by Claudio Poli

6.- New York's Metropolitan Museum of Art returns stolen idols to Nepal

7.- Glasgow starts a year of celebration as Charles Rennie Mackintosh exhibition opens

8.- Very rare Qing Dynasty bowl sells for $30.4 million

9.- Gardner Museum publishes "Stolen" book about 13 works in 1990 theft

10.- Royal Ontario Museum announces appointment of Curator, Islamic Art & Culture

Museums, Exhibits, Artists, Milestones, Digital Art, Architecture, Photography,
Photographers, Special Photos, Special Reports, Featured Stories, Auctions, Art Fairs,
Anecdotes, Art Quiz, Education, Mythology, 3D Images, Last Week, .


Ignacio Villarreal
Editor & Publisher:Jose Villarreal - Consultant: Ignacio Villarreal Jr.
Art Director: Juan José Sepúlveda Ramírez

Royalville Communications, Inc
Founder's Site. The most varied versions
of this beautiful prayer.
to a Mexican poet.

The First Art Newspaper on the Net. The Best Versions Of Ave Maria Song Junco de la Vega Site Ignacio Villarreal Site
Tell a Friend
Dear User, please complete the form below in order to recommend the Artdaily newsletter to someone you know.
Please complete all fields marked *.
Sending Mail
Sending Successful