Special feature on auction highlights
January 2016
Crusial Breakthrough of Japanese Artists! Incandescent Sale 82% Great rate of successful bidding of Modern & Contemporary Art Worldwide famous Japanese Post-War Art Modern & Contemporary Art evening sale has been held in the first date of 2015 Autumn Sale Hong Kong. Due to the sign of economic decline in China, there were some concerns about the effects towards the auction. However, local Hong Kong collectors, new clients from China and Taiwan as well as collectors from Europe, America, Singapore and Japan had delightedly attended our preview. Our collections for Modern & Contemporary Art in the Autumn Sale contains various genres starting with prominent Chinese abstract painters, the Japanese Post-War Art, the young Japanese artist Tetsuya Ishida whose paintings satire about the modern society. Then following with the museum collection class of international artists paintings of Ecole de Paris like Moïse Kisling, Pablo Picasso, André Brasilier. Finally, works from Andy Warhol and Jasper Johns who represent the American pop art, and famous Japanese Artist like Yayoi Kusama, Yoshitomo Nara, Takashi Murakami. Total 108 lots resulted in a great success of HKD28,945,700 sale record and finished our last 2015 sale. The most highlighted work in our sale was the mainly “Gutai Art” from the Japanese Post-War Art which gain attention from the international more than the last sale. In this sale, works from 26 outstanding artists who led the Post-War Art such as Jiro Yoshihara, Kazuo Shiraga – his works on our top of News, Atsuko Tanaka, Sadamasa Motonaga, Toshimitsu Imai, Masaaki Yamada etc. who get exposure by Western and Asian investors. Works other than these artists, works from Tadashi Sugimata, Shozo Shimamoto, Yuko Nasaka, who are expected with increasing competition in the market, were also gathered in this sale. Many clients showed their interests and ask many questions about Toshimitsu Imai “WORK” which makes a big
SHIRAGA Kazuo "KOSHI" 91×91 cm
est. HKD 2,800,000 - 3,800,000 Sold HKD 4,884,000
impression to all of us rather than the image of bright blue and it was the first work we decorated in the Japanese PostWar Art catalogue. The competitions between the auction room and telephone biddings were fierce. The hammer price was 4 times more than the low estimation which was sold at HKD88,500. Following to this good starting, the successful bidding price of watercolor works from Atsuko Tanaka, Sadamasa Motonaga, Yasuo Sumi, Key Hiraga were 2 to 3 times more than the low estimation. From our collections, there were 4 lots of 1960 -1970’s Key Hiraga oil and watercolor works which are competed between few Chinese collectors and finally successfully sold. “Untitled” is a work with circle drawn on both side of paper, was drawn by the father of “Gutai Art” - Jiro Yoshihara. This special work is a gift from Jiro Yoshihara to Mr. Moriuchi who is the father of Gutai artist Keiko Moriuchi in 1966.
Special feature on auction highlights
Special feature on auction highlights
January 2016
January 2016
ISHIDA Tetsuya "FUNCTIONAL" 45.5×53 cm
which painted in 1999 was one of the highlighted lots in our Autumn sale. Many collectors competed for this work and it eventually brought HKD1,770,000, over the estimation. Tetsuya Ishida dead 10 years before and his works were chosen by the 56th Venice Biennale’s special exhibition last year, which shows the importance of Tetsuya Ishida in the international art market.
est. HKD 1,200,000 - 1,700,000 Sold HKD 1,770,000
Bidding for Famous artist works
left :
DOMOTO Hisao "ESPACE B" 114×146 cm
est. HKD 300,000 - 500,000 Sold HKD 2,006,000 right :
Due to the history of this unique work, a Singapore collector successfully bid at HKD708,000 in order to get this work. The abstract painting “ESPACE B” was the next highlighted work which was made by Hisao Domoto from 1956~57 in Paris. Hisao Domoto’s works exhibited in Paris Biennale in 1959. His works painted since 1955 during his initial period when he moved to France, attracted many visitors and collectors came to the preview and resulted in fierce bidding in the sale. The price raised up dramatically and got over the estimated price in a second. The successful bidding price was HKD2,006,000 with big hands claps from the sale room. Besides, Toshimitsu Imai abstract painting “SOLEIL NOIR” was the other highlighted lot in our sale. The “SOLEIL NOIR” on big red painted canvas with size 129.5×161.8cm and a strong image showed by its black wriggling lines, strong brush strokes and splash texture of the paints which was in spotlight in preview. It was sold out at HKD2,596,000 beyond the estimation of HKD600,000 - 900,000. Est-Ouest Auctions has introduced Post-War Art since 1991, so that we are so happy to know this great sale record which was as good as the record of the work for Hisao Domoto. This result would be because of the high attention from the worldwide collectors and investors who concern about the international art market in Hong Kong.
Birth of the top lot in 2015 Kazuo Shiraga is one of the important artists who let the Japanese Post-War Art to be revaluated nowadays. As a “Gutai” artist and relevant to the Japanese Post-War Art, Shiraga shows his power, 4 oil paintings works were all sold out. One of these 4 lots, a dynamic action painting called “Koshi” is a painting that number of layers in various colors richly folded and shows the style of Shiraga. Title of Koshi means “old history” in Japanese and Shiraga dedicated this painting to his primary doctor named Koshi. This work mainly competed between Asian collectors and sold for HKD4,884,000 which hit the highest successfully bid record in 2015 Autumn Sale Hong Kong. The total successfully bid price of 4 lots of Shiraga’s works was HKD9,580,400. The “Gutai” artist leader, Jiro Yoshihara’s canvas work was marked at HKD684,400. A Hong Kong collector knew the artist Tadashi Sugitada first time in our preview and asked for details about the artist, then bid “EYE III” of Tadashi Sugitada which was painted in 1960. Activating at the front line of contemporary art, Natsuyuki Nakanishi, his “WHITE WEDGE V”, the estimated price was HKD150,000 - 250,000 and realized at HKD283,200. Also, 3 lots of oil paintings by Japanese abstract painter Toshinobu Onosato made in 1970’s were successfully sold. The enamel work by “Gutai” artist Atsuko Tanaka, who represent “Gutai Art” together with Shiraga, her “WORK 99-A” present by colorful circles and lines was sold at HKD472,000. Sadamasa Motonaga’s “RED EDGE FROM RECTANGLE”
KISLING Moïse "FLOWERS AND MIMOSA " 84×62 cm
which has humorous overtunes sold at HKD448,400 in a great price. After that works from uniqueness and innovation artists Yuko Nasaka, Masatoshi Masanobu, Chiyu Uemae, Shozo Shimamoto, Nobuo Sekine, Tsuyoshi Maekawa etc. are all bidding up. We are looking forward to see the revaluation in international market for the works of Hisao Domoto and Toshimitsu Imai which brought in high prices this time. Japanese contemporary artist Yayoi Kusama’s acrylic work of yellow pumpkin, 15.8 by 22.7 cm sold for HKD849,600. For Korean contemporary artist Jeong Sang Hwa who is not only active in Korea, but also Japan and Western countries, his work “UNTITLED 91-3-B” was sold for HKD118,000. We concern about Yayoi Kusama and Jeong Sang Hwa’s trend for this year. Tetsuya Ishida who passed away early when he was 31 years old, regarded as legendary artist. His work “FUNCTIONAL”
For modern art, temperature of the auction room increased once the work from Ecole de Paris prominent artist Moïse Kisling “FLOWER AND MIMOSA” started auction. Many collectors were attacked by its beauty and kept on seeing the works and did not leave for a while. Not only collectors from the Western countries but also Japanese, Chinese collectors are interested in this work, the collectors attended the preview compete against each other and resulted in a successful bidding price of HKD1,534,000. Although the number of Picasso’s primitive expression ceramic works were little, they are loved by many fans. The hammer price exceeded over the estimate, this shows how popular Picasso’s works are. Finally, for American pop artists such as Andy Warhol and Jasper Johns, showed a stable result. Yayoi Kusama, Yoshitomo Nara and Takashi Murakami works are always popular in Hong Kong auction greatly boost the venue. Moreover, there were many Western gallerists and collectors enquired for these works. Many visitors came to our preview and the hammer price ran over the estimate MURAKAMI Takashi STAND "HAPPY RAINBOW"" as result. Yoshitomo Nara "FLOWER h164.2×w144×d74 cm “Sleepless night” realized HKD212,400. Takashi Murakami “Flower stand "Happy Rainbow"” had a great competition between auction room and telephone bidders which brought HKD306,800, 9 times more than the low estimate, this result received loud applause in sale room.
2015 Spring & Autumn Sale Hong Kong
Most Expensive Works Sold
Post War - Contemporary Japanese Artist
1
KOSHI by Kazuo Shiraga
2
SOLEIL NOIR by Toshimitsu Imai Untitled by Jiro Yoshihara Untitled by Kazuo Shiraga
HKD 4,884,000
HKD 2,596,000 IMAI Toshimitsu "SOLEIL NOIR" 129.5×161.8 cm
est. HKD 600,000 - 900,000
Sold HKD 2,596,000
5
Give You Water by Yoshitomo Nara
HKD 2,360,000
6 7 8 9 10 11 12 13 14 15
TOP
15
Infinity-Nets by Yayoi Kusama ESPACE B by Hisao Domoto FUNCTIONAL by Tetsuya ISHIDA Mumps by Yoshitomo Nara Untitled by Kazuo Shiraga Mère et Enfant by Leonard-Tsuguharu Foujita Work by Yoshishige Saito Pumpkin by Yayoi Kusama Untitled by Jiro Yoshihara Untitled by Jiro Yoshihara
HKD 2,124,000 HKD 2,006,000 HKD 1,770,000 HKD 1,652,000 HKD 1,534,000 HKD 1,062,000 HKD 885,000 HKD 849,600 HKD 708,000 HKD 684,400
Special feature on auction highlights
Special feature on auction highlights
January 2016
Needs for high quality works Chinese Bidder under the decline of China economic Jewellery and Watches
The attendance of international collectors Jewellery sale was held in the second date of the auction, many selfcollectors and buyers visited and participated, but with a severe result in the successful bid rate marked 50%. However, not only visitors from Hong Kong and China, but also many visitors came from Western countries. Preview was held in weekday, some Hong Kong customers came to our preview to look for their favourite piece during their break time of work, that we can feel their high passion for Jewellery. Many customers have joined our auction since EstOuest Auctions started Hong Kong market. We once again realize the important regular customers under the concerns of the decline of China economic.
Unchangeable for the demands of red corals and unheated colored stones Through the preview, we can feel about the need of Hong Kong jewellery market. Firm price of gold products and Chinese culture symbol jade are quite competitive. Besides, a Chinese customer loves Japanese turtle shaped brand brooch. In fact, turtle is not a good motif for that customer’s hometown. However, highly skilled technique of the Japanese maker, let this customer forget about
this bad jinx, which bad things will occur when wear turtle motif accessory. For many situations of economic nowadays, jewellery lovers still concern about the high quality products. For Opal, sapphire, emerald etc., they were most loved between competitors, but we had not recorded a good result this time. Not because of Chinese collectors lost their interested in them and not going to buy, but they just want to think deeply and bided good quality products. In the other hand, Burma unheated ruby ring sold for at HKD41,300 which is 2.4 times more than the its low estimate. And then, a beautiful color 15mm coral necklace attracted participators in sale room and telephone bidders to compete for it. As a result, it marked HKD88,500 which is nearly 3 times exceeded low estimate. The numbers of corals were not many in this sale, but we can see the certain needs for high quality coral in the market. For next, limited product of diamond hourglass by De Beers, which contains 2,000 tiny diamonds to replace sands inside the hourglass. Beyond our expectation, it sold for HKD94,400 to a Chinese bidder which is 3 times exceeded its low estimate and this result shows that Chinese collectors would not hesitate to bid for rare pieces. For providing the detailed information of the pieces, we uploaded the photos of certificate in online catalogues, this attracted people who could not come to the preview. We are going to take more effort to collect good quality pieces and keep on report information elaborated.
Worldwide bidders made the Est-Ouest Auctions live bid flourish South East Asia
7％
others
Taiwan 6％
7％
Hong Kong 10％
JAPAN 50％
Europe & USA
20％
January 2016
Precious Tangka achieved HKD 2.12 million! -Chinese Art-
For this Auction, we collected many variety antiques and separate into two section. For example, ceramics, stationery, tea utensils, jade, the stamp material, Buddhist art between the age of civil war and republic of China in the day sale. And recent famous artists’ works included high-quality calligraphy of Song, and ceramics of the Ming and Qing Dynasty in the evening sale. 278 lots in total. The total presale estimate is HKD17,555,600, for Chinese antiquities which is the largest scale in our auction since 2008 when EstOuest Auctions Hong Kong market started. During these 4 days previews, many Chinese collectors visited and showed their interest in Chinese antiquities, we feel their strong demand for their home country antiquities such as calligraphy and paintings of Qi Baishi, Zhang Daqian, Fu Baoshi, Guanshanyue etc. and rare ceramics of Song, Ming Dynasty, ancient jades and ink stones from Japanese collector. “SAKYAMUNI BUDDHA TANGKA 6 PIECES” which was consigned by Japanese private collector was the highlighted products in the day sale which started from 4pm. SHAKANYORAI were drawn in the middle, the stories of Buddha's previous life were drawn at the sides, these paintings were made during 18 century and the beginning of 19 century in Tibet and they are valuable works relative to Dalai Lama. Due to the delicate drawings, good state of preservation and its original good quality mounting, there were fierce biddings between Chinese collectors, the estimate was HKD650,000 - 950,000, but the price realized was highly beyond its estimation, which eventually achieved HKD2,124,000. There were 25 lots ancient jades which were all motif of divine beasts, people, animals and insects etc. were all sold out during auction and after sale period. This shows the high demand of jade from Chinese collectors. The evening sale started at 7pm from the good quality ceramics of Qing to the Song Dynasty. Longquan Celadon Vase of Ming Dynasty and pastel color large bowl of Qing Dynasty were all sold. “A PAIR OF BLUE AND WHITE PLANT PATTERN BOWLS” with beautiful blue and white pattern, and their original wooden box had good evaluation from customers and they sold for HKD212,400. Ming-Qing Dynasty high
SAKYAMUNI BUDDHA TANGKA 6 pieces 68×44.5 cm
quality works were won the bid by Chinese collectors. On the other hand, Song and Liao Era works which had soft modeling and attractive colors were successfully bid by Japanese collectors. For China modern calligraphy and paintings, we had a good start at modern artist Feng Da Zhong’s work “SEEK” in which tiger was drawn. This work was contributed directly from the artist to a Japanese collector, attracted many collectors. Although its estimate was HKD130,000 180,000, it was sold for HKD330,400 which was much over the estimate. The famous artist Zhang Da Qian used strong technique of link drawing and pale colors to draw the lotus in this work. The successful bid price was HKD826,000, bid by local Hong Kong collector. Fu Bao Shi’s literature published work was sold for HKD743,400 which successfully bided by a Chinese collector.
Collectors desire to purchase rare and high value works Finally, the total successful bid rate of Chinese Art was 61%. Although this was an average successful bid rate result for a normal auction, we got a low result for this category compare to the past. It seems the customers who had been purchased for investment purposes showed their cautious attitude because of the slow economic growth. Due to the unstable economic, the targets of investment change to famous artists like Picasso’s works which have a market in the world, also diamond and gold which always keep stable in the international, but we should pay attention of how the huge amounts of investment money distribute from Chinese Art go, and how will the art market change in this year. However, we could feel the concerns and desires for Chinese art from Chinese collectors in preview which may still prospect in the future.
Est-Ouest Auctions live bidding started at Spring Tokyo Auction in 2015. Previous Autumn sale Hong Kong was the 4th time. Registers, successful bid lots, bidding price are increasing while the number of held increase time to time. The countries of registers’ distribution are shown on the left graph. The biggest proportion is Japan, then Western and Asian countries. Not just the ragular customers, but also the European new participants joined and bided works in this season. There were many inquiries about joining the auction before our auction. We are so happy to know that the increase the number of world wide participants. Moreover, there were many inquiries from Italy, Germany, Belgium, Spain, Vietnam etc.. We expect more from all over the world.
Regional distribution of live bidding A PAIR OF BLUE AND WHITE PLANT PATTERN BOWLS each h6.3×φ15 cm
Special feature on auction highlights
Special feature on auction highlights
January 2016
Revival of Japanese collectors and Southeast Asia's rise
2015 AUTUMN SALE TOKYO Sat. 17 October at Est-Ouest Gotanda Sale Room
-Japan modern painting, Oriental artNew registrars bidding for Shin-Hanga and metal crafts works The “Ukiyo-e”, Japan modern painting, arts and crafts of Meiji and Showa period, Japan and South Korea antiques, agarwood and ivory were the composition of the oriental arts department in Autumn Sale Tokyo, the 17th October 2015. Total 217 lots were presented. Until now, Chinese antiquities have been mainly auctioned in Tokyo sale, however, the consignment requests of this genre were much beyond our expectation, thus we changed our decision to sell in Tokyo rather than Hong Kong, where more Chinese collectors could join our auction.
Continue with the Western decorative art section, Orient art section of Japanese KATAOKA Tamako "FUJI MOUNTAIN" 24×33.5 cm “Ukiyo-e” were popular in the last Tokyo spring sale and mainly started from the Shinhanga collection of Shinsui Ito and Hasui Kawase. 21 lots great wood block prints collected by a private collector for a long period of time were all sold out by the bidding in sale room and live biddings through online. 18 lots out of these 21 lots got great successful bidding prices which were much more than the estimate. We received many inquiries not only customers from Japan, but also from oversea. We could see the international high evaluation from the large amount of Western and Chinese collectors bid the “Ukiyo-e” and “Shin-Hanga” that of Japan unique style and glossy colors. For celebrating the 130th anniversary of Hasui Kawase's birth, his works were introduced through exhibitions and TV programs, so that he has been noted these years. 66 years long-lost painting by Utamaro Kitagawa found in 2014 and has been publicized. Due to remarkable presence of “Ukiyo-e” and “Shin-hanga” for these years, they seem to be still a popular section for this year. Metalwork made by sophisticated technique of craftsmen is a rare field in the Japanese art and culture, which has been evaluated worldwide same as “Ukiyo-e”. At first, it gains interest from Japan and Western collector, but now also attracts Chinese and Taiwanese collectors as well. This shows the slowly spread of the market. The successful bid rate was not brilliant this time, but the “SHIBAYAMA INLAID SILVER LARGE INCENSE BURNER” which made of sliver, ivories and shells, achcieved JPY3.45 million. Moreover, “SHIBAYAMA DECORATED CABINET” sold for JPY1.09 million. They were all successfully bid by a Southeast Asia collector who joined our Tokyo auction. Many voices from some enthusiasts who are fascinated by technical capabilities of craftsmen and hope the works can be re-evaluated fairly and expanded the international market as “Ukiyo-e“. We are looking forward to see the trend later on. Continue Kitaoji Rosanjin "WELL-COMBED DESIGN SHIGARAKI VASE" h26.3×φ24cm
January 2016
with “Shin-hanga”, Japanese famous artists’ works which activated in the Showa period were consigned in our auction. Japanese collectors successfully bid the Tamako Kataoka “FUJI MOUNTAIN” which applied wacky configurations and bold red color, which is opposite to the concept of Japanese Art, was brought JPY4.95 million; and also the watercolor painting of Ikuo Hirayama “TAJI MAHAL”, the painting “MOON AND THE SEA BREEZE WITH FUGAKU” with theme of Fuji mountain painted by Koji Kinutani and Shiko Munakata “LARGE NECK”. For Japanese ceramics, Rosanjin Kitaoji’s “WELLCOMBED DESIGN SHIGARAKI VASE” sold for JPY1.73 million against the estimate of JPY 1 million - 1.5 million. It shows the stable popularity of famous artists. The “CHOSON WHITE GLAZE ROUND VASE” made in Korea in 18th century is different from the precision Chinese ceramics. The softness of circle shape which attract customers to stop down, took it on hand and look for it. It sold at JPY1.38 million from bidder in the sale room which was one of the most highlighted works in this sale.
Agarwood -The highest bidding price of the sale Chinese customers competed to get those popular agarwood in the second half of the auction. All 34 lots consigned works sold out and the total successful bidding price of agarwood reached over JPY46 million. The giant agarwood sold at JPY25.3 million which was the top lot of this sale which shows its unchanged existence. Due to high purchase demand from Chinese collectors for high quality agalloch wood from Japan, we expect to receive good results in the future. Continue with fragrant woods, Ivories, corals and silver products were fully sold out. Under the economic slowdown, real assets such as gold performs steadily, compare with the antique which likely to be influenced by the boom, fragrant woods performs similarly as gold in a way. Orient art sale has been supported by Chinese customers, the selling of Chinese antiquities has been rised quickly in recent years and becomes slower now. For Asia antiquities, not just China, but there are still many excellent arts mainly in Japan and Korea and we would like to introduce them as well in the coming future.
GIANT AGARWOOD 235 cm, 8,110 g
PICK UP! by specialist
SHIBAYAMA INLAID SILVER LARGE INCENSE BURNER
Transcendence difficulty! East vs West Magnificent inlay technique used by craftsman
GALLÉ Émile "FLEUR DE POMME DE TERRE VASE"
Step 1. Engraving the ground into the form of a motif. Step 2. Cutting the inlay material into motif shape Step 3. Applying the motif into the ground by bonding and welding
Art works presented in auction are made by various techniques － we would like to introduce the super craftsman technique of inlay. Inlay is a technique that insert difference materials into one material. wood, metal, shellfish, tortoiseshell and ivory are some of the materials used in inlay. When sticking difference materials together, spaces and peels may appear. So inlay making needs very high technique and concentration which is the combination of craftsman technique and passion. The history of inlay started in China in the 2nd century BC and expanded to Japan in the 8th century BC. Inlays were used in decoration tools, armor and Buddhist altar fittings. This technique’s golden period was in Meiji Era, complex and advanced works were made in this period. Est- Ouest Auctions familiars Art Nouveau’s glass was made by this technique too. Emile Gallé is the representative artist who applied inlay technique to glasses, called marquetry. The patented technique which uses the flower or leaf shaped glasses parts and melt into the original glasses ground, then make the motif. Marquetry make rich representation be possible. However, it is delicate and easy to break, so works which applied with this technique are little and it is evaluated as high artistry and rarity. For “SHIBAYAMA INLAID SILVER LARGE INCENSE BURNER”, character, flower and bird are combined by shell and made by inlay. For Gallé “FLEUR DE POMME DE TERRE VASE”, inlayed with multi-color fragments of glass like white, purple, blue, red and orange were modeled into shape of flower. Both of them are high level technique which would not re-create even at the presence
Special feature on auction highlights
Special feature on auction highlights
January 2016
January 2016
Strong bids followed by collectors who assess good quality products -Western Decorative ArtsTokyo sale room was livened up by the attention of new bidders
CORNFLOWER" was incandescent in the auction, it sold for JPY4.03 million which was over the estimate by an enthusiast. Not only works of Art-Nouveau and Art-Déco, many local and overseas bidders joined our auction and bid for Western decorative art works. For example, sophisticated micro mosaic was drawn in "PLINY THE DOVE" table top by a few millimeters of pieces. It got many bids from Western countries, sold out at 2.53 million Yens which was highly exceeded the estimate.
All 260 lots of Western decorative arts were auctioned in the Autumn Sale Tokyo this year, showed the unchanged stable successful bid rate of 76.2%. All lots of works were gathered in preview, especially excellent glass works of René Lalique which was decorated in the cover of the catalogue attracted lots of visitors’ eyes. Vienna style and KPM ceramic plate were numerous exhibited. Wall of the sale room was filled with works gorgeously. Cover openable bird tweet electric singing bird box, large trunk of the Louis Vuitton, ancient Greek style black vessel etc. were collected and made the content rich in variety. This auction started from Emile Gallé’s glass works. For Art-Nouveau and Art-Déco, Est- Ouest Auctions leading the market for a long time. It is a field that has continued to receive a high reputation in the world. As mentioned above, overall successful bid rate of Western decorative arts this time is about 75%. If you only look into ArtNouveau and Art-Déco, they recorded 89.1% and indeed record nearly to 90% successful bid rate, it was the result showing the strength of the Est-Ouest Auctions in this area. The pre-sale estimate of Gallé “CYCLAMEN VASE” was JPY180,000 - 280,000, but it sold for
KPM’s large-scaled plaque brought over JPY 5 million
ITALIAN MICRO-MOSAIC TABLE TOP "DOVES OF PLINY" φ52.5 cm
JPY632,500. The estimate of “CHERRY BLOSSOMS VASE” was JPY750,000 - 1,250,000, but the price realized 1.6 million Yens. Among the better-than-expected price lots continue, especially early works of Gallé was attracting attention. There was a firm popularity for initial works delicate painting in enamel, the estimate of “CORNFLOWER VASE” was JPY400,000 - 600,000, but it eventually brought JPY1.04 million. For Gallé work “BUTTERFLY AND POPPY VASE”, Perle metallic technique inlay with the silver foil in between the layers of glass were used generously, was sold at JPY1.61 million against the estimate JPY800,000 - 1,300,000. For “PLUM VASE” inflate blowing part of the glass, it was three-dimensional representation of the fruit of plum by advanced mold blown technique was sold at JPY2.99 million against the estimate JPY1,000,000 1,800,000. High quality with great technique works both attracts art enthusiast attentions, fierce biddings had been carried out.
24 pieces of Lalique Rare Collection Achieved total JPY 37 million
GALLÉ Émile "PLUM VASE" h40×φ19.5 cm
Although KPM Berlin porceline plaque were popular in this sale. Plaque “THE FLOWER GIRL” especially attracted visitor interests in the Autumn Sale works. This work has been drawn on the basis of the painting of beloved Esteban Murillo in Baroque period. This plaque had a very low distortion despite it is a largescaled work. Very elaborate painting technicque was also highly evaluated by bidders, after fierce competition, it sold at JPY 5.18 million.
Significant collection of René Lalique from Japanese private collector which attracted much attention in preview were all sold out in high prices. In this collection, colors and shapes are both rare, consists of only very rare and high value works in the market. Among them, the vase "LIZARD AND
LALIQUE René "VASE "LÉZARD ET BLUETS" h33×φ22 cm
Similarly, KPM Berlin plaque “PORTRAIT OF PHILIPPINE WELSER” is a good quality work. Although it is small, it drawn out the elegance of lady Philippine. There were many collectors joined our KPM BERLIN PLAQUE "THE FLOWER GIRL" 49×40 cm auction and the estimate was JPY500,000 - 800,000, but it sold for JPY2.07 million in high price. We can say there were high demands for high quality works when we analyzed the auction result this time. When we see the works which sold out over than the estimate, we can find they were all in good qualities and beautiful works. These tell us that collectors who joined Est- Ouest Auctions have high aesthetics and high demands of meeting great works.
PICK UP! New Staff Introduction New Staff Naoko EZAWA
Graduated from a Master's degree and studied 19th Century Art History of France before entered to EST-OUEST. I am thrilled at work as I never seen so much art pieces by my own eyes in real time before worked here. Particularly when I worked for the last Hong Kong Auction, I felt the exciting beats and international city life in Hong Kong. I was really enjoying it. Moreover, I obtain invaluable knowledge and indication of the artwork or the market from various guests during the preview. Kindness from guests urged me to pursue a self- enhancement in order to be able to answer their queries and satisfy them. On the auction day, I am responsible for took down and marked all hammer prices of those successful bids. In fact, it was joyful to see customers raised their paddles one after another and the artworks that showed in the preview were in keen competition. I hope to gain more experience and provide better works to customers in the coming future.
Special feature on auction highlights
Special feature on auction highlights
January 2016
2015 Autumn Sale Hong Kong
2015 Autumn Sale Review
More diverse in Hong Kong, More Potential in Tokyo EST-OUEST Good result achieved while other auction house under tough times As the saying goes, "China sneezes, the world will be infected" to describe today's world economy are influenced strongly by China. In last June, Shanghai stock index adjusted in response to the global synchronization of stock price. Auction houses were all estimated that the purchase power from Chinese collectors of Modern arts, Chinese ceramics, wine are temperate, and resulted in 16% decline at the Hong Kong Autumn Sale which held in last November. This downturn of the auction market, due to economic growth slow down and government austerity measures plus affected by the fight against corruption with "luxury injunction", reflects the need and demand from China are decreasing in luxury consumption. Under this weak economic environment, results of EstOuest Hong Kong Autumn Sale credited to Japanese PostWar arts and specialized content of modern art, with those famous Japanese artists: Kazuo Shiraga, Toshimitsu Imai, Yayoi Kusama etc. who still highly sought-after among US, Europe and other Asian countries. In the modern arts’ evening sale, successful bid rate up to 82% which is on par with previous season. This shows they are vigilance against Chinese art which its market section is a support layer of the uncertain Chinese economy, and they are now shifting to the Japanese art which is of sense of security and undervaluation. However, it does not means that there was not influence of the falling stock prices. Conservation buying of particularly type of works is undeniable, like Chinese
January 2016
paintings and antiques, jewellery and luxury watches, also art pieces of Walasse Ting and T’ang Haywen that Chinese buyers mainly focused on in recent years. Refer to this season's successful bid lot numbers against regional distribution (figure 1), 47% from Hong Kong, 17% from China, 13% from Japan. Then Malaysia, Philippines and Singapore which have the same rate. Lastly Taiwan, Europe and USA. Other auction houses competitors were affected by the China economy, struggling among the board. Est-Ouest not only supported by loyal customers from China but other countries as well. This result prove that Est-Ouest certainly take a place outside China region too. Est-Ouest going internationally, alternative force of other regions can compensate for the impact from part of the region of economic stagnation, and this led to a successful result at our auction. Moreover, analysis from percentage, China is still a huge market and they became more striving on their bidding. Most likely works are sold in higher prices by reason of keen competition. Besides works from old masters like Kisling and Picasso, and even Chinese Art, which is of conservative buying intention, "SAKYAMUNI BUDDHA TANGKA" also has good result. High quality and historical work is the top target for Chinese collectors. We think the unstable economic circumstances will not restraint buyers, and the economic market situation shows buyers shift into more steady things as target.
The power of Asian new bidders to the successful bid rate – from Tokyo auction 2015 As a new movement in the auction last year, it can point out that the change can be seen to the participants as well as the successful bidder. For the regional distribution of the number of successful bid lots in Tokyo Autumn Sale 2015 (refer to the graph at right), Japanese bidders 54%, Chinese 28%, Hong Kong 7% in result. For the Tokyo Spring Sale in April last year (refer to the graph in left), China 44%, Hong Kong 5%, Chinese bidders nearly reached half of the total lots, this shows obvious result that the share declines because of the effect of China stock prices falling. Distribution of Successful Lots On the other hand,Malaysia and Taiwan powerful bidders who joined our auction first time in the Singapore 1％ Taiwan 3％ Europe & USA 2％ Hong Kong South East Taiwan 1％ Autumn Sale, the Asian bidders other than 5％ Asia 6％ Chinese had only hold around 2% of the total lots of the Spring Sale and share was increasing Hong Kong 7％ certainly in Autumn Sale. It shows especially remarkable powers of Asia new bidders for the JAPAN CHINA Western decorative arts. Art-Nouveau etc. Western JAPAN 49％ CHINA 44％ 54％ decorative art which is a forte of Est-Ouest Auctions 28％ is being infiltrated with Asia nowadays, it is able to cover the lost from the deceleration in Chinese economic that affects the buying restraint of Chinese antique and Jewellery. We can expect a great deal in the future of the movement of new bidders. Spring Sale Tokyo Autumn Sale Tokyo
South East Asia 6％
Europe & USA 2％
Taiwan 8％
Europe & USA 8％
South East Asia 13％
Hong Kong 47％
Japan 13％ China 17％
Taiwan 9％
Japan 40％
China 15％ Hong Kong 22％
Distribution of Successful Lots
Distribution of successful bid amount
figure 1
figure 2
On the other hand, using the above-mentioned graph to re-make based on successful bidding price (refer to figure 2), the top is Japan around 40%, second place is Hong Kong which is 22% far away from the top. The next will be China 15%, Taiwan 9% and so on. The presence of Japan is noteworthy. For the backdrop of rising Japan's economy, we can see that work of art is not only luxury good, but also as an investment target in many ways. In Japan, the connection between art and economy was contraindicated in the past, but changed to artsurrounding- environment recently which is a good drift. Actually, for expanding and revitalizing Art market, Art works with asset value or possibility for generating profits are surely needed. If not, prosperity of this market should not be expected.
Increasing strength of Japan market Tetsuya Ishida who was one of the highlighted artists in Hong Kong Autumn Sale, created really little works in his lifetime. Although his work is extremely rare to appear in the market, international art market of the presence of Ishida works are rising nowadays, 10 years after his death. He had been elected by the Gwangju Biennale in 2014. His solo exhibition was held in San Venice Biennale 2015 Francisco's Asian Art Museum in 2015. He was elected in a special exhibition of the 56th Venice Biennale last year. Title with “Whole world of the future” in this exhibition, is work with theme of pointing out the problems of politics, society and history. Works of Ishida reflect the shadow of a large change in social structure and attract attentions. The competition of Ishida works in market is expected to incandescent. Due to the globalization of market, Japanese culture is not only owned by Japan nowadays. The oldest works starts from Japanese woodblock prints, post-war abstract art, such as “Gutai” and “Mono school”. Takashi Murakami and Yayoi Kusama became famous by Louis Vuitton collaboration. The example of Ishida who mentioned before, local people cannot understand the value and nature of his works for the oversea movement and they were left behind in the market. It is desirable that if Japan could perceive the trend at first and had initiatives to made focus and create a market. If academia and the business community are not committed to establish the movement as one of the genealogy of art history together by public and private sectors, it is only consumed as a boom. The spotlight is hitting unprecedented in the art of Japan at this moment, it is a great chance to create market. For Est-Ouest Auctions 2016, we believe that we should not miss this good chance.
Special feature on auction highlights
January 2016
2016 Spring Sale Tokyo / Hong Kong Tokyo : April 28th at Est-Ouest Gotanda Sale Room Hong Kong : May 30th - June 1st at Renaissance Hong Kong Harbour View Hotel
Consignment now invited! Deadline Tokyo : March 11th (Fri) Hong Kong : April 12th (Tue) As we mentioned in this news, there is a significant changing in the global market from last year through this year. There may have the works which are surrounded by good selling chance in auction right now. Please do not hesitate to discuss with us!
YAMADA Masaaki "Work" oil on canvas 1960 91 × 60.5 cm
INVITATION TO CONSIGNMENT Modern and Contemporary Art, Ecole de Paris, Japanese, Asian Post-war Art, Western Decorative Art, Japanese Art Chinese Antiques, South Asian Art, Jewellery & Watches, Pure gold works, Agarwood, Ivory, Vintage Wine etc…
EST- OUEST AUCTIONS Co., Ltd.
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