Sotheby's Hong Kong autumn 2011 sale of modern and contemporary Southeast Asian paintings totaled $10.6 million, more than double of the pre-estimated value.
With this, the auction house achieved the second highest sale total for a various-owner sale of this category.
Following our record sale of Southeast Asian art this past spring, we were entrusted with significant paintings by key modern artists from Indonesia, Singapore and the Philippines which gave us our second highest sale total ever, said MOK Kim Chuan, Sotheby's Head of Modern and Contemporary Southeast Asian Art.
Collectors responded with enthusiastic competition both for appealing canvases by S. Sudjojono and the largest known work by Hendra Gunawan to ever come to auction, which achieved an exceptional price, Chuan further said.
Records were set for Nanyang artist Cheong Soo Pieng and Georgette Chen, as well as for Swiss artist Theo Meier, whose career was spent in Bali. Works of artists who have gained international reputation in recent years in the contemporary field of Southeast Asian art, notably I Nyoman Masriadi and Ronald Ventura, were also featured at the auction.