Reaching for Buyers by Reducing Buyer’s Premium
Three Indonesian auction houses held their auctions at the same time as Art Stage 2013 in Singapore. These auctions were intriguing as one of them, Auction House 33, put an 18% Buyer’s Premium on sales up to S$250.000. Other auction houses were still playing at 22% from works sold on the hammer price. Does...
Small Is Beautiful In Turbulence Art Market
Auction Highlights
• Larasati made a surprise by offering lots as little as 53 pieces, which consists of categories such as Traditional Balinese Art (13 lots), Contemporary Art (6 lots), Indonesian Modern Masters (5 lots), Le Pho – a Vietnamese artist (2 lots), Indo-European Pictures (24 lots), and Dancing for the Gods (3 lots).
• Total...
Quantity but Not Quality
Auction Highlights
• Very disappointing auction - 59% sold and price performance below mid estimate. From 172 lots offered in this auction, only 59% was sold (102 lots). The auction generated total revenue of Rp 2,235mn (before hammer price) – a bit lower than the Mid Estimate (ME) of Rp 2,362mn, but much lower compared to the High Estimate...
The Good, the Bad and the Ugly
Auction Highlights
• Market for Balinese Paintings is better than Mid estimate. The Auction Result is pretty good with 60 out of 77 lots (78%) sold during the auction and 2 lots sold post-auction. The auction generated total revenue of Rp 3,018mn - slightly higher than total mid estimate of Rp2,708mn, but lower compared to...