Auction house makes name for itself in S'pore

Auction house makes name for itself in S'pore

Carla Bianpoen, Contributor, Singapore

It seems that the Indonesian auction house Larasati is rapidly
making an impression on the international art market in
Singapore.

In contrast to its first international auction in Singapore
held six months earlier when Indonesian buyers prevailed, the
second auction, held in early December, saw Singaporeans as the
majority of the about 200 bidders. It may be a sign that Larasati
could become a major player in the Asian art market.

The 83 lots presented as Pictures of Asia Fine Art, with works
by Europeans who came to Indonesia early in the last century like
Hofker, Sonnega and Dooijewaard, and Indonesians -- primarily
represented by Hendra Gunawan, Affandi, Rusli, Sudjojono, Sudjana
Kerton and Ivan Sagito. There were also Chinese senior and avant-
garde artists like Georgette Chen and Fanglijun, as well as some
from Malaysia and Vietnam.

No doubt the old masters were still in great demand, with
Hofker's lithographs exceeding by three or four times their
estimates, culminating in A Seated Balinese Beauty with
Offerings, which was estimated at S$600-800, fetching a
remarkable S$5,000.

Willem Dooijewaard's colored chalks on paper Balinese Girl at
an Elaborately Sculpted Water Spout, made S$40,000 from the
estimated S$16,000-18,000.

Equally significant were Hendra Gunawan's painting Penjual
Ikan (Fish Seller) which fetched S$480,000, three times its
maximum estimate of S$160,000; Rusli's Puri Dalem Tandjung
Bungkak (estimated S$7,000-9,000) went for S$22,000 while
Affandi's oil on canvas Semangka dan Kepiting (Watermelon and
Crab) made S$190,000, more than twice its estimate of S$90,000.

However, Affandi's Menjemur Ikan (Drying the Fish) and
Tangkuban Perahu, remained within estimates, while there was no
bid on his work titled Skiing.

Quite memorable was the bidding for Chinese artist's Chen Ya
Jie's work Flowers, which started at S$7,000 and went through
some heated bidding until it reached S$26,000. But flower
painting by Xu Xiao Yen surprisingly went below its lowest
estimate.

Perhaps less spectacular but still noteworthy were the lots
that went for prices slightly over or twice the estimates.

These included Lee Man Fong's Two Rabbits which went for
S$32,000 from the estimated S$20,000-25,000); Rusli's Prayer and
Offerings (estimated S$6,000-8,000) which fetched S$15,000;
Jeihan Sukmantoro's Ibu Andi (estimated S$5,400-7,000) went for
S$5,600; Sudjojono's Bouquet Wicky (estimated S$35,000-45,000)
went for S$46,000; Renato Cristiano (estimated S$25,000-30,000)
fetched S$38,000, while Abdul Azis' Ibu dan Anak (estimated
S$4,400-5,400) went for S$6,000.

A number of the other lots sold for prices within the
estimates.

Ivan Sagito's Yang Selalu Mengulang-Ulang Gerak Hatinya (That
Which Always Pounds at the Heart) went for S$70,000 (estimated
S$50,000-70.000); Wu Guanshong's Boulders Near White Walled House
(estimated S$90,000- 20,000) went for S$109,000; Sudjana Kerton's
Nike estimated S$80,000- 100,000 went for S$90,000; and Rudolf
Bonnet's Portrait of a Balinese Dancer (estimated S$37,000-
45,000) went for S$40,000.

Fang Lijun's 2002.10.1 (estimated S$35,000-45,000) went for
S$38,000, and Zhang Xiaogan's Bloodline no. 3, Bloodline no. 7
(estimated S$25,000-30,000) went for S$25,000.

With 72 percent of 83 lots sold at a total hammer price of
S$17,85,300, the auction, which was held at a time when holidays
and wedding receptions abounded, reaped a relatively good result.
Above all, the auction revealed both a professional maturity in
realistic pricing, as well as increased selectiveness of the
bidders.

Larasati launched its first auction on April 30, 2000. Titled
Pictures of Indonesia, the show featured 140 paintings, ranging
from old masters to young artists, including also senior artists
whose names had yet to climb the ladder of popularity. That first
auction generated almost US$470,590 against a pre-sale estimate
of $294,118.

In the same year, Larasati formed a strategic partnership with
Glerum, said to be the largest independent auction house in the
Netherlands. Mr. Glerum was a longtime Sotheby's director before
he established his own company in Amsterdam in 1989. Focusing on
Indonesian works, it went to Singapore in 1994. But six years
later Glerum teamed up with Larasati, to the benefit of both.

Looking back at their three-year existence, one is struck by
the success of the team behind the auction house. They have
emerged in the new dynamic of the young generation, who come from
various backgrounds but have a shared appreciation of and vision
for their auction house.

Amir Sidharta's background flows along many fields, such as
architecture, museum science, communication, as well as in the
roles of art critic and curator. Daniel Komala is a scientist,
familiar with the art world through his mother, a collector. Yudi
Wanandi is an architect whose family has artistic interests.

Larasati proceeds to highlight young Indonesian painters but
does not forget the old masters, at the same time pursuing the
development of an Asian international forum with professionalism
of international standards. In a short period of time, it has
become the first and most reputable Asian auction house -- and
one to be reckoned with internationally.

"We want to be the best in Asia and we're going for that,"
said Daniel.