NEW YORK—As the demand for modern and contemporary Indian and Asian art continues to soar (see ANL, 10/11/05), the Sotheby’s sale of Southeast Asian paintings, on Oct. 9 in Singapore, realized S$11.2 million ($6.6 million). The auction was 90 percent sold by value and 85 percent by lot.
The top price of the auction was S$1.1 million ($682,256), achieved for Balinese Life, an oil on board by Lee Man Fong (1913-1988). It was a new auction record for the artist, as was the S$632,800 ($376,073) given for Rambutan Vendor, a 1975 oil on canvas by Hendra Gunawan (1918-1983).
A southeast Asian collector paid S$476,000 ($282,882) for Tiga Wajah, a 1963 oil by Affandi (1907-1990). Records were set for Chen Wen Hsi, whose Balinese Boatmen fetched S$360,000 ($213,948); and for Sunaryo, when the oil Stagen Merah, 2002, realized S$312,000 ($185,421). Of the 199 works offered, 169 were sold.