The art of the auction

The number of art collectors and art connoisseurs in Asia has grown tremendously in recent years. The entry of international auction houses, such as Sotheby’s and Christie’s, has stirred an astounding demand for Southeast Asian art like never before. Adding to the excitement is the young and vibrant Larasati Auctioneers, the first purely Asian auction house to be established just three years ago. It is no surprise that all of them are keeping house in Singapore – one of the cleanest and safest countries in the world. A bustling business hub, it is a well-kept home in itself with beautiful trees and flowers, delighting every guest from the moment he sets foot inside its airport and drives through the smooth highways, which are also lined by lush greenery and more flowers going all the way into the streets of the business center.

The stars of the auctions this year were predictably the artists that appeared on the covers of Sotheby’s and Larasati’s thick catalogs. Both featured Indonesian paintings and these artworks pulled their distinct lots into fetching incredible bids that left the crowd gushing and clapping. Daniel Komala, the president of Larasati, said, "Indonesian paintings are crowd-pullers and the Indonesian buyers are also very aggressive. The good news is that this is followed by people from the Philippines, and recently the Vietnamese."

On the cover of Sotheby’s catalog was lot 38, Romualdo Locatelli’s "Gambuh Dancer" (a Balinese female dancer in full costume) painted in 1939. The bid started at S$200,000 and the hammer went down on a whopping S$700,000. This overshadowed the beautiful Fernando Amorsolo oil paintings, pieces that I have not seen in the market for a number of years now. I felt so sad that the bids were unexcitingly in between the low and high estimates printed in the catalog. However, one Fernando Zobel was particularly powerful and was snapped up at S$10,000 over its estimated price.

While that stimulated a bit of energy for the Philippine collection, it somehow vanished when the other modern counterparts, like Ang Kiukok, H.R. Ocampo and Joya were presented. Then there was promising strength once again when Victorio Edades’ oil painting "The Gatherers" did very well, gaining triple its expected high bid, but quite unexpectedly, a very striking Vicente Manansala paled in comparison. The biggest disappointment of all was Juan Luna’s "Shepherd Boy," which generated a glum offer way below its estimated appraised value.

At the other auction, "Young Boy on Horseback" by famous Indonesian painter Affandi was the featured artwork on the cover of the Larasati catalog. Affandi’s characteristic style of painting directly from the oil paint tube has made him one of the most recognizable Southeast Asian artists to art aficionados and collectors. Also known as the father of Indonesian modern contemporary art, his painting depicting a boy on a wooden rocking horse was initially offered at S$80,000. Within a few minutes, it fetched S$434,600 – more than 300 percent the expected high bid. When the hammer went down, applause followed and the sound of excitement filled the hall.

Over 80 percent of the 96 lots offered by Larasati found buyers, garnering total sales of S$2.1 million. Close to 250 people witnessed the auction, a significant increase in number as compared to attendance last October 2004, when some 200 art enthusiasts turned up at the event.

Christie’s, meanwhile, gave a preview of the actual artworks to be auctioned in May. Impressionist and modern art were presented for bidding in New York. The stunning collection included Constantin Brancusi’s sublime "Bird in Space," estimated to fetch between US$8 million and US$12 million and described as the art piece that will "add vigor to the sculpture market." Other major works accompanying the awesome collection are works by Paul Cezanne, Pablo Picasso, Claude Monet, Alberto Giacometti, Henri Matisse, Edgar Degas, Amedeo Modigliani, and Joan Miro. I thought I also saw an Auguste Rodin and when I went near it, it was indeed one. This awesome collection of internationally acclaimed masters will be fetching no less than six to seven figures. I told Cecilia Ong of Christie’s that it would be great to put the gorgeous, briefcase-sized Zao Wou Kie in my bag and she said, "Oh, my! I wish you didn’t tell me because I would be forced to report you to the authorities!"

For their Hong Kong auction on May 29, Christie’s will offer a broad selection of works from its Southeast Asian and Modern Indian Paintings collection. Apart from exceptional Indonesian, Filipino, Vietnamese and Indian paintings, this specific auction marks the first time it will include contemporary works by promising Singaporean, Malaysian and Thai artists. This will be held at the Hong Kong Convention and Exhibition Center.

The auction houses have obviously enjoyed success over the years and in fact have expanded into doing auction events for other collectors’ items, such as jewelry. Sotheby’s used an adjacent hall to display a big collection of diamonds and emeralds. The huge chunks of stones and the studded necklace, bracelet and brooch compositions were eye-popping both in cost and glitter. Never running out of ideas, one new highlight I haven’t seen before is Sotheby’s offer of financial services. The invitation card states that one’s art collection (and I believe this includes jewelry) can be converted into cash. This means that the collection can be used as collateral for a loan and "financing is available up to 50 percent of the auction value, with rapid response and flexibility."

Having been able to chat with Henry Howard-Sneyd, Sotheby’s managing director for Southeast Asia and Australia, I took the opportunity to ask him about the news item that appeared in one of the dailies that they had closed their office in Manila. He immediately corrected the information by saying, "Our office is still there and we are looking for someone to be our new representative." So what are the criteria to be that rep? He said that the previous person "was able to introduce us to many collectors and she got them for very low prices."

Given all the clamor in the business of art and the art of business, I discussed with a close friend the signals I was personally assimilating at the recently concluded auctions. In expressing my positive and negative observations, I recalled some past experiences with the auctions and specifically pointed out that the auctions I attended in the early ’80s were so different in that they felt so special because everyone looked so nice. It was like each guest simply and automatically made it a point to dress up for the occasion. It just seemed the right thing to do, even without being told.

The mood was also very different. Then, there was also clapping but the buzz of excitement was not just because of the astounding digits of the winning bids but also about everyone feeling some kind of (positive) envy over the acquisition of such fine pieces of art. Somehow I also felt that the artworks that were being auctioned then were there not merely for financial investments but were truly choice treasures that anyone who could afford them would be proud and thrilled to own.

The affair was such a delightful experience from beginning to end that, in fact, the scenario had the whole audience going home from the event in good spirits with probably an overflow of excitement extending through the following days.

My friend, who is an art restorer of impeccable integrity, gave me her own views on the matter and they are so true that I feel compelled to share them with you: While in UP, I learned that there are people who believe in the non-commodification of art. That is to say, art should not be treated as a tradable commodity to be bought or sold because it takes away from the true spirit for which the artwork was created. I agree with this to a certain extent.

Yet, bad as it may sound, I cannot deny that the very survival of artworks also depends on their being commodified. Of course, above all else, I place a premium on an artwork’s aesthetic value, its historical value, even its sentimental value. But I doubt that certain works of art would be preserved as they are today were they not bestowed with some kind of monetary value.

Now I wonder which of these values are foremost in the minds of people engaged in the business of auctions. Sometimes I have some silly romantic notions of how the world should be and sometimes mistake my ideals with what really goes on.

My ideas about auctions have not been spared these "romantic" notions. In my mind, auctions are a chance for a person to own a piece of history. Thus, the winning bidder has the chance to be the custodian of a work of art that possesses such immortal qualities that he or she will have the honor of preserving it for future generations.

In my pretty picture of the scheme of things, the auction house, then, is the benevolent agency that makes all this possible: Not only does it unburden the former owners of their gargantuan responsibility as custodians, the artwork also finds a new home where it will be given the importance it deserves.

But when one looks hard at my pretty picture, it’s not as sugar-coated as it seems. You could say that the former owners let an artwork go in order to make money, that the auction house is a business institution whose objective is profit, and that the winning bidder buys the artwork for the sake of prestige, investment or sheer amusement.

I liken the auction to a ritual. Because the art presented at auctions is so eminent, the people who go there should give the event due respect. They should be dressed appropriately and compete among themselves politely. Yet perhaps the culture of the world is shifting towards such casualness that some bidders arrive in slippers, the artworks for sale do not have the same magnetic aura as masterpieces of the past, and the attitude towards custodianship is probably forgotten.

What can be done to change this, to re-educate buyer, seller and even the auction house? What does the vision-mission of the auction house say? It is difficult because the intentions of all those involved cannot be determined. One can only pray and hope that the artwork does not fall victim to simple commodification.