Going, going, gone for the masters' works<\/p>\n
By Amir Sidharta<\/p>\n
JAKARTA (JP): The auction scene continues to be the main
\nindicator of the Indonesian art boom. Sotheby's and Christie's
\nhad their art auctions in Singapore in March, featuring four
\nworks by the 19th century Indonesian artist Raden Saleh.<\/p>\n
Both auctions saw a general trend in that most of the
\npaintings with Indonesian subjects sold rather poorly, except for
\na few extraordinary pieces which fetched high prices.<\/p>\n
At Sotheby's sale, Lee Man Fong's Bali Life, which was placed
\non the cover of the catalog, failed to sell.<\/p>\n
However, a fabulous landscape by Walter Spies broke another
\nrecord for the Russian-born German artist's works, being sold at
\na hammer price of S$1 million.<\/p>\n
A work by the 19th century painter Raden Saleh, Fighting
\nAnimals, was sold for S$700,000, well over its estimate, to a
\nphone bidder from Indonesia.<\/p>\n
The highlight of Christie's sale the next day was certainly
\nRaden Saleh's Lion and Snake Fighting Outside a Grotto in a
\nTropical Landscape, sold at the hammer price of S$1.8 million.<\/p>\n
In Christie's auction during the same auction season last
\nyear, Raden Saleh's Deer Hunt set a record price of S$2.8
\nmillion.<\/p>\n
The artist's painting of a European Water-Mill was sold for a
\nmodest S$80,000. In this sale, Spies' Animal Fable also sold for
\nS$750,000.<\/p>\n
In Amsterdam in April, the auctions of Indonesian paintings
\nshowed that interest in Indonesian paintings continued to level
\nout and stabilize.<\/p>\n
The Van Lier auction shows that Indonesian tribal art is
\ngaining strong interest, particularly from dealers or private
\ncollectors in Europe and the United States.<\/p>\n
Local auctions included the Indonesian Art Foundation's third
\nIndonesian Art Bourse in May.<\/p>\n
Following a tremendously successful sale reaching Rp 2.6
\nbillion the previous year, this year's sales only managed to sell
\na little over 50 percent of the total number of paintings,
\ndrawing about Rp 1.45 billion in revenue.<\/p>\n
The highlights included the sale of Srihadi Soedarsono's
\nMenunggu Upacara (Waiting for the Ceremony) for Rp 84 million,
\nSri Warso Wahono's Wanita Berkain Sutra (Woman in Silk Sarong)
\nfor Rp 43 million, and Hardi's Pak Harto Nabuh Bedug (Pak Harto
\nBeats the Drum) for Rp 35 million.<\/p>\n
During the one-day exhibition in August of the works by noted
\nceramic artist Adi Munardi, an auction was conducted for the
\ncharitable benefits.<\/p>\n
Record<\/p>\n
The AIDS foundation held its auction in October at the Grand
\nHyatt, which continued at the Shangri-La.<\/p>\n
After 50 out of 80 paintings were sold at the Grand Hyatt,
\nseven of the best pieces were auctioned.<\/p>\n
Srihadi's Doa dan Harapan (Prayers and Hope), listed at Rp 85
\nmillion, sold for Rp 100 million, while the other six paintings
\ndid not exceed much further than the submitted bids.<\/p>\n
Amid the currency crisis and the problem of haze smothering
\nthe region, a series of not two but three auctions of Southeast
\nAsian paintings were once again held in Singapore over three
\nconsecutive days at the end of September.<\/p>\n
Sotheby's offered 261 paintings, Christie's 318, and Glerum
\n361, brings the total of art works to a record 940 in a single
\nauction season; 550 of which were Indonesian in subject matter.<\/p>\n
The highlights of Sotheby's auction included the sale of a
\nwork by Walter Spies at a hammer price of S$850,000. A mediocre
\npainting of a Legong dancer by Dullah, estimated at S$20,000 to
\nS$25,000, was finally sold at S$78,000 to an English woman after
\na fierce battle with an American.<\/p>\n
The surprise at Christie's was the sale of the Sudjojono cover
\npiece, which attracted a record S$110,000, or well over five
\ntimes its estimate of S$15,000 to S$20,000.<\/p>\n
Glerum's highlights included the sale of Isaac Israels'
\npaintings. The artist's portrait of R. M. Djodjana fetched a
\nsurprising S$220,000, while another painting of a gamelan managed
\nto reach an astronomical price of S$300,000.<\/p>\n
The greatest surprise at Glerum was the sale of Lee Man Fong's
\nMan with a Cockerel and a Child, which fetched an unbelievable
\nS$240,000. Many thought that this was the craziest purchase of
\nthe auction season.<\/p>\n
Glerum boasted a result of S$4.2 million, Sotheby's booked
\nsales of S$3.7 million, while Christie's reported a modest S$3.4
\nmillion, bringing the season total to a mere S$11.3 million for
\nalmost 1,000 paintings, just a little above Christie's March 1995
\nsale, which only offered 170 paintings.<\/p>\n
This was a clear indication that the boom was leveling out.<\/p>\n
In December, the intrepid Glerum held another sale, this time
\nof works by contemporary Indonesian artists.<\/p>\n
Although the auctioneer's efforts in promoting Indonesian art
\ndeserves commendation, his selection of works is rather weak and
\nthe sale ill-timed. Yet, the low prices of the works manages to
\nattract Singaporean buyers.<\/p>\n
The auctions, whether they be in Amsterdam, Singapore, or
\nJakarta, indicate a saturation of the market. As a residue of the
\nart boom, the amount of paintings appearing on the market
\nincreases, while prices are dropping.<\/p>",
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