special feature on auction highlights june 2017 excited ... · banksy, keith haring, alighiero...

June 2017

Special feature on auction highlights

The Sale prices of Kusama ranked top 1 and 2 among the saleThe department of modern, post-war and contemporary art fulfilled the first day of 2017 Spring Sale Hong Kong. The total of 155 lots of works ranging from Japanese post-war and contemporary art, Asian post-war art, American pop art, modern art, print, photography etc. were displayed not only in Renaissance Harbor View Hotel but also in ART ONE, the art space adjacent to the hotel. In the preview, collectors from various countries such as Hong Kong, China, Taiwan, Korea, Singapore, Indonesia, Malaysia, the Philippines, Japan etc., came over and the works of well-known western artists including Andy Warhol, Banksy, Keith Haring, Alighiero Boetti and Japanese post-war artists like Yayoi Kusama and Masaaki Yamada catched the attention of collectors.

The auction started from Japanese post-war art and modern art including works of Takashi Murakami and Yoshitomo Nara, followed by the representative Asian

artists from China, Korea, Vietnam, Singapore, to American pop artists Andy Warhol and Keith Haring. And then prints of Pablo Picasso, Lucio Fontana and Paul Klee and photography of Robert Mapplethorpe and Hiroshi Sugimoto were shown. The sale ended with oil paintings and bronze sculptures by international masters

Excited Collectors! 2017 Spring Sale

Pierre-Auguste Renoir, Rodin and Bourdelle. At the end, the sale totalled HKD 21,084,200. As expected, the top lot in the sale was a number 10 acrylic work “A Life of Evening Sun” by Yayoi Kusama which was the work with the most telephone bidders connected at the same time in this sale. After a fierce competition among telephone bidders from Japan, Hong Kong, Taiwan, America and England etc., the work was finally sold for HKD 1,888,000 while the same number 10 dot work “Group of Stars” realised HKD 1,770,000 which the highest prices ranked top 1 and 2 among this season’s sale.

The Japanese post-war art that appeared at the beginning of the sale was a genre that left the best results in this auction as before totaling HKD 9,974,540. Prior to the sale, plenty of inquiries and absentee bid applications from Japanese and overseas collectors focused on these works. Moreover, the successful bid rate achieved a great result of 88%, accounting for almost half of the total price of successful bids in modern, post-war and contemporary art sale.Although the 50 lots of Japanese post-war art occupied less than 1/3 of the total lots, the total low estimate price HKD 5,726,000 accounted for a quarter of the proportion in the department. According to the figures, we realize that how the Japanese post-war art attracted collectors’ attention and livened up the auction competition. In addition, when analyzing the price of successful bids and

A Whole New Trend- Japanese Post-War Art -

Modern, Post-War & Contemporary Art

Yayoi Kusama "GROUP OF STARS" 53 × 45.5 cm

est. HKD 700,000 - 1,200,000Sold HKD 1,770,000

Taiwan27.5％

Taiwan13.6％

Hong Kong 4.4％

Hong Kong13.6％

Korea 2.2％ Korea 2.3％Europe 4.5％

Europe 3.0％

Indonesia5.8％

Indonesia4.5％

Japan61.4％

Japanese Post-War Sell-Through Result

Japan57.0％

Regional Distribution ofSell-Through Lots

Regional Distribution ofSell-Through Amount

June 2017


413,000, over two times its low estimate price, after keen competition between bidder at the venue and telephone bidder. Moreover, 1967’s “Work C.076” and 1966’s “Work C.288” were also sold above the estimate prices.The highlight of the sale was undoubtedly the following two works “Color” in 1998 and 1999. This was the first time the Color series by Masaaki Yamada appeared at overseas auction and even in Japan, there were very few works showed at auction. In the preview, the works drew great attention of overseas collectors due to the rarity. The vivid pink work “Color No.105” which showed in the cover of catalogue was popular among Japanese and overseas collectors and realised HKD 259,600, over five times its low estimate price – a figure that established an auction record. A bright yellow work “Color No.53” was also sold to an Asian collector with the price of two times its low estimate. HIRAGA Key has long been a popular artist in Hong Kong Sale, especially with many Hong Kong, China, Taiwan’s collectors. The six pieces of works showed in the sale were all sold and a 92 × 73 cm masterpiece in 1967 “The Windows” fetched HKD 354,000 above the estimate price.

Increased attention on Mono-haTwo works of Kishio Suga, the representative artist of Mono-ha highlighted the end of Japanese post-war art sale. In the previous Hong Kong Sale, Kishio Suga’s work was shown on the cover of catalogue with special pages introducing Mono-ha. Due to the efforts made in the last Hong Kong Sale, Kishio Suga became one of the artists receiving many inquiries from overseas collectors this time and finally led to success in the auction. The work “MAZAKAI” with low estimate price of HKD 70,000 realised HKD 153,400 while “PROTRUSION #822” with low estimate price of HKD 40,000 was sold for HKD 224,200. The attention of collectors in Europe, the U.S. and Asia where the focuses were usually on Yayoi Kusama or Gutai group artists has gradually spread throughout the field. According to the results and trend, Mono-ha will be highly anticipated in the following sale.

Following Yoshitomo Nara, works of Asian artists can be expected in the future In Japanese contemporary art, three works of Yoshitomo Nara were all sold successfully. The six pieces set of “Non-chan on the cloud” drawn in color pencils fetching HKD 1,121,000 ranked top 3 of successful bid price in the sale which showing her firm ability. A large work of Aya Takano, Pixcell-Lemon by Kouhei Nawa and two works of Hiroyuki Matsuura were sold smoothly. Mr.’s acrylic

Kishio Suga "Protrusion #822"h45.5 × w39.5 × d7.5 cm

the share rate by region, Japan accounted for more than half, followed by Hong Kong, Taiwan and the other Asian regions.Looking at the figures, although Japanese collectors still occupied the share overwhelmingly, in comparison with the last sale, there were more overseas collectors who came on purpose to see works of Takeo Yamaguchi, Kishio Suga and other Japanese post-war artists this time.

Starting from Yayoi Kusama, works of Japanese artists sold for high prices The prints and solid pieces of arts by Yayoi Kusama which keep getting more popular than before were bided by overlapped telephone bidders from Japan, Korea, Taiwan, the Philippines etc., and works including the mentioned acrylic work and other works in total of 8 pieces were all sold at the prices above the estimates. It is obvious to see the fact of overwhelming support from not only Japan but also Asian and western countries. What’s more, the acrylic on paper, watercolor, pastel works of Atsuko Tanaka, Toshimitsu Imai, Hisao Domoto, Takeo Yamaguchi and Masaaki Yamada were all sold smoothly.

Two oil paintings by Takeo Yamaguchi received many inquiries from overseas collectors and also captured lots of attention during the preview. After the competition between telephone bidders and online bidders, the 33×29 cm work “Vertical” fetched HKD 389,400 while 14.9×23.2 cm work“Suspension” was bought for HKD 224,200 exceeding the estimate prices by a south-eastern Asian collector.

Fierce competition for YAMADA Masaaki’s works “Color”

The appearance of collector-focused artist Masaaki Yamada’s works brought vibrancy to the venue. A two-color stripe work in 1969 “Works C.421” realised HKD

Masaaki Yamada "Color No.105" 91×72.8 cm

est. HKD 50,000 - 80,000Sold HKD 259,600

June 2017


on grating work “Do you know Saturday-Bachan?” was competed by bidders in the venue and via telephone, achieving great result of over 3 times its low estimate price for HKD 306,800.Turning to Asian post-war art, although works decided outcome of the sale, works of representative Asian post-war artists such as Chu Teh Chun, Walasse Ting, Pang Xunqin from China, Kim Heung-Sou, Rhee Seund Ja, Chung Sang-Hwa from Korea, Vu Cao Dam from Vietnam, contemporary artist Tang Da Wu from Singapore etc. were shown in the sale and attracted many guests’ attention during the preview. Moreover, there was a keen competition among Chinese collectors for works without reserve price of Chinese contemporary artists including Qu Fengguo, Huang Yuanqing and Xue Song etc. and the works all achieved high prices at the end.

The top lot of Western artists – BanksyIn the following sale, unique pieces of European and American pop art including original works of Andy Warhol, Keith Haring and Banksy etc. appeared. These valuable works were collected by a Japanese private collector for many years and have not being exposed to the market. Many of them received plenty of inquiries from Galléries and collectors in Europe before the preview. Although the canvas work “BRUNO BISCHOFBERGER” by Andy Warhol did not sell successfully, the work of Keith Haring “Untitled” realised HKD 649,000.

The oil painting “A SMALL FORTRESS” of Jim Dine, known as an artist of heart shape, was sold for HKD 849,600. What’s more, the unique piece “GAS MASK FLY” of street artist Banksy fetched HKD 944,000 exceeding the estimate price, showing collectors’ high interests for famous artists in this genre. "GAS MASK FLY" was flooded with inquiries immediately after catalogue completion and keen competition expanded among bidders in the venue and telephone bidders from the US, the UK and Taiwan and finally this piece of work was won by a western collector. The work of Italian conceptual artist Alighiero Boetti was one of the works with many inquiries in advance. The representative embroidery work” LA FORZA DEL CENTRO” which evoking lots of reaction including from his home country Italy realised HKD 236,000. Turning to photography works, two works of Robert Mapplethorpe from the US were sold. The still life photograph "JACK-IN-THE-PULPIT" with the theme of flower representing the artist became a highlight in this genre and fetched HKD 283,200. Besides, works of Ruud Van Empel, a photographer from the Netherlands and Daido Moriyama from Japan were sold smoothly.

Stable demands for Western masterpieces A masterpiece of modern masters representing the 20th century art appeared in the final stage of the sale. A small piece of oil painting “FOREST IN ARGENTEUIL” by Pierre-Auguste Renoir was sold for HKD 826,000 while a still life painting “FLOWERS IN WHITE VASE” by Maurice de Vlaminck fetched HKD 389,400 and a bronze sculpture with the theme of Roman mythology “TOILET OF VENUS AND ANDROMEDA” by Auguste Rodin was bought by online bidder, showing art masters’ strong sense of presence. A pastel and pencil on paper work “PORTRAIT OF A LADY” by a Japanese-born representative artist of École de Paris Leonard-Tsuguharu Foujita was won by a Chinese collector in the venue at the price of HKD 330,400. Last but not least, a 19 century painting “BATHING” with appreciation of great quality attributively from François Dubois realised HKD 212,400 which rounding the auction off.

Banksy "GAS MASK FLY" 100× 102.5 cm

Pierre-Auguste Renoir "FOREST IN ARGENTEUIL" 21.3 × 32.8 cm

Yoshitomo NaraA COMPLETE SET OF "NON-CHAN ON THE CLOUD" 6 WORKS each : 29.8 × 21 cm

June 2017


Antique Jewellery achieved 70% of sell-through in Tokyo SaleWith the gradual recovery of the jewellery market in 2016, in 2017, due to the influence of the world’s financial and political policies, the global economy is not as prosperous as last year. Moreover, because of the rise of US dollars and real estate prices, for wealthy people who have huge amount of cash in hand, gems which featured high market liquidity gradually become a new kind of investment targets. From the auction results of Tokyo and Hong Kong spring sales, we can truly feel the gradual retrieve of the current jewellery market.

Before the Hong Kong Sale, we challenged the Japan market again in April this year. In this sale, we collected a series of antique jewellery ranging from Victorian era, Edwardian era, Art-Nouveau style to Art-Deco style. An approximately from Edwardian era elegant emerald and diamond white gold necklace fetched JPY 379,500 which is even higher than the high estimate

price. Besides, a large delicate diamond tremblant

flower necklace catching lots of attention in the preview was finally

sold for JPY 747,500. Moreover, antique jewellery watches were unexpectedly popular in Japan Market. A Rolex antique watch with lots of inquiries, Vacheron Constantin diamond gold wristwatch, and OMEGA diamond gold wristwatch were all sold.

Steady high quality color stones, unheated gems and conch pearls

Turning to fine jewellery and watches, 3.394 ct Burma ruby ring was sold for JPY 2,530,000 while 4.35 ct Colombia emerald diamond ring realised JPY 2,070,000. Unheated 6.19 ct Burma star and unheated 8.53ct Sri Lanka color-change

blue sapphire fetched JPY 2,300,000 and JPY 2,070,000 respectively. Parts of exclusive jewellery were still sold with high price. Conch pearls, corals and unheated gems are still

popular in Japan market and brand wristwatches also stand out. At the last lot, Van Cleef & Arpels Charms series diamond gold wristwatch was sold for two times its high estimate price at JPY 862,500, rounding the 2017 spring Jewellery & Watches Sale off.

Fierce competition until the final lot in Hong Kong Sale The Spring Jewellery & Watches Sale Hong Kong was held on 29 May. Earlier than Hong Kong preview, in order to provide Japanese customers a great opportunity to enjoy viewing the brilliant jewellery, we held a special private preview from 9 to 12 April in Tokyo. It was impressive that many guests spent lot of time looking at almost all jewellery during the preview.

On the Hong Kong preview, the venue was bustling and crowded with guests from all over the world including Hong Kong, China, Taiwan, Southeast Asian countries, US and Europe and so on. This year’s preview was held at the glass-enclosed showroom of ARTONE where passengers stopped over easily, filling with excitement even than before

From the first lot of coral necklace to the last lot of Reuge singing bird cage, the paddles of bidders at venue and telephone bid were raised continuously and the auction house was surrounded by the thunderous applause with electric atmosphere.

Works based on the market trends in Tokyo and Hong Kong worked

- Jewellery & Watches -

June 2017


to the bidder in venue. Besides, violate jade also stood out. 4 pieces of violate jades attracted lots of guests to try in the preview and were all sold in this sale. Corals and pearls have always been popular in Asia market. Coral necklace sets and pearl necklaces without reserve price also achieved great results.

In the end of the sale, a pure gold Buddha ornament that hasn’t been shown in our sale for a long time realised HKD 224,200 and Reuge singing birds, which were popular in the previous Hong Kong auction capturing guests’ attention and were won by the bidder in the venue.

Responding to market needs and making efforts to collect better worksThe successful bid rate of this sale reached 68%, works with well balance among quality, price and rarity rather than extreme features have indeed been eager for collecting, especially brand jewellery, sapphire and ruby, the successful bid rates all exceeded 80% which reflecting the current market trend. In order to offer better quality jewellery, we will keep focusing on the market needs and collecting more brilliant jewellery in the following sale.

Attractive Cartier jewellery sold for high priceIn this sale, we collected three pieces of high-profile Cartier jewellery and watch including the brooch showed on the cover of catalogue. Before the auction, we had received lots of inquiries and telephone bid applications from different countries due to its high quality and market rarity. A Panthere De Cartier ring which is very rare in the market realised HKD 330,400 after a fierce competition while CRASH watch was sold for HKD 389,400. It is worth mentioning that a Panthere De Cartier brooch with purple tourmaline as the main stone was finally handed to the buyer with the price of HKD 1,100,000 in the after sale. With great success of these high-profile jewellery that had lots of advertisement published before the sale, the Est-Ouest Jewellery & Watches Sale this time gave the market a good impression that high quality works could be sold for high prices.

Unheated gems, jades, corals, pearls are still popularThere were 23 pieces of unheated gems and were all sold successfully, indicating that in the current market, unheated gems are still attractive and worth collecting for buyers. A 5.52 ct Burma deep royal blue sapphire loose was sold for HKD 129,800 and 8.65 ct Sri Lanka blue sapphire diamond ring fetched HKD 106,200. Moreover,

other small carat unheated gems with high quality were sold for high

prices. According to the result of this sale, jade is still popular within Greater China Group. An oval jade diamond ring brought a keen competition and was finally sold for two times its high estimate price at HKD 76,700

Would you like to make appraisal for your jewellery and watches?Joyce from Hong Kong (right) and Chiu from Taiwan (left) are in charge of department of Jewellery & Watches of Est-Ouest auctions. Jewellery enthusiasts, especially those from Greater China region have their unique sense of appreciation. We are dealing with various knowledges and information in daily work such as certification of works, trend of jewellery market, inscription on jewellery etc. rather than just saying "It is beautiful" or "It looks good". We are sincerely waiting for your appraisal inquiry of your jewellery, watches and gold products. Both of us are now living in Japan and working in Est-Ouest Auctions Gotanda office. We provide service in Japanese, Chinese, Cantonese and English. Please do not hesitate to contact us.

● Inquiries ●

e-mail : [email protected] tel : 0120-70-3722 fax : 03-5791-3133

We are in charge of Jewellery & Watches department!

June 2017


Modern paintings & antique’s successful bids continue in Tokyo Sale

Tokyo Spring Sale 2017 held before the Hong Kong Sale. Chinese & Japanese Antiques Sale was held in the middle of the auction, a variety of 133 lots of works such as modern Japanese paintings and prints, modern ceramics, Japanese antique ceramics, craft works of the Meiji period, makie, ivory, agarwood, Chinese ceramics, Jade works, stationery etc. were showcased.

Kaii Higashiyama's large lithograph work "REFLETS TRANQUILLES" which started the Chinese & Japanese Antiques sale attracted the attention of customers due to the size and the brilliant green. When bidding began from JPY

600,000, the venue and telephone bid developed a good bid tempo, exceeding the bid estimate price, sold out at JPY 1.38 million to the telephone bid enthusiast. The beauty’s painting "BENIHAGI" drawn by Shinsui Ito who is good at drawing soft expression of unique Japanese painting, it sold out at JPY 2.875 million to a Japanese enthusiast.Overlap biddings of glass, sterling silver, ivory craftWorks of Kyohei Fujita receiving worldwide evaluation as a glass craftsman who boasts of Japan, his work is one of the works that attracted attention at the preview. Many visitors stopped their feet and looked at the works which mainly on Kazaribako and represent the decorations with gold leaf,

4 out of 6 items were sold out in the auction and this showed stable popularity.Works that were given high quality Makie on the Edo period and metalwork pieces in the Meiji era were requested by enthusiastic collectors. A Japanese collectors who aimed on the works of Korin Makie on the Edo Period "LACQUERED PINE & CAMELLIA DESIGN INK STONE BOX, PAPER STORAGE BOX 2 PIECES" visited our auction and bidded this lot, this lot designed with raden, lacquer, gold color and lead.Sterling silver metalworks "A PAIR OF PURE SILVER PINE AND BIRDS DESIGN VASES" is one of the work that showed extraordinary excitement at the auction. In the auction, British and Chinese collectors competed fiercely, eventually it sold out at JPY 2.76 million nearly three times to the lowest estimate price. At Tokyo Sale, the standard ivory craftworks maintain a good successful bid rate of 80%. Not because of the size, but the fine made work attracted the interest of collectors.

The popularity demodulation of agarwood! Top lot triple to the estimate price

Agarwood which had been a topic of the Chinese & Japanese Antique Department until now, has just ended up unsuccessfully last time and this trend has been drawing attention this time. However, as soon as the auction began from 1 million yen, the competitors were from telephone bids and the venue, break through the medium price of the estimate price quickly, and the battle of competitors from the overseas telephone bids and the venue further spread, the telephone bidder got the lot at JPY 9.2 million finally which greatly exceeded the estimate price. Many enthusiasts and buyers showed interests because the consigned agarwood with high-quality, resin and sank in water. High-quality agarwood is still being sought, and it is a field that can be expected in the future. The result of ceramics in Chinese ancient art was not as expected, but stationery such as jade products and ink stones had a good result.

Shinsui Ito "BENIHAGI" 51.5 × 59.5 cm

AGALLOCH WOOD L21.5 cm, 125 g

est. JPY 2,000,000 - 3,000,000Sold JPY 9,200,000

Kyohei Fujita Collection

Outstanding high growth rate in TokyoNeed reformation

in future Hong Kong Sale- Chinese & Japanese Antiques -

Attrib. OGATA Korin "LACQUERED PINE & CAMELLIA DESIGN INK STONE BOX, PAPER STORAGE BOX 2 PIECES" est. JPY 2,800,000 - 3,800,000Sold JPY 3,220,000

June 2017


Looking at the whole, the successful bid rate of Chinese & Japanese Antique Sale was 68%, but the total successful bid price is 99% of the total lowest estimate price, which is a very high growth rate. It is a characteristic of this field that many collectors think that they want to bid off the work when they get interested in, this reflected the result. Introducing high-quality works will be a future task from now on.

Chinese antique collection returned back in Hong Kong Sale

For the Chinese & Japanese Antiques Hong Kong Spring Sale 2017, a total of 85 lots such as buddhism cultural relics, Chinese ceramics and porcelain, jade product and bronze etc. modern jade sculpture, Japanese traditional crafts etc. from the Age of Civil War to the Republic of China centered on a wide variety of Chinese antique arts were consigned. Among them, Chinese ancient arts that passed to Europe and the United States long years ago consisting of Chinese old

ceramics, jade products and copper mirrors, this Chinese Antique collection did not set the estimate prices, the starting prices were all in reasonable prices ‘without Reserve’, this became a big topic.At the first day of the preview, there were enthusiasts waiting at the entrance before opening, we able to feel collectors interest to the works. During the preview, Chinese collectors who are interested in Chinese ancient art and local Hong Kong enthusiasts had constantly come to visit. The booth with Chinese ceramics and jade products was crowded with visitors, many people stopped their feet and observed the works in details. In addition to rare antique art items that cannot be seen at usual and Chinese antique collection from oversea with ‘No Reserve’, this made many visitors came and more than usual.

Full venue and lively sale roomAt the Chinese & Japanese Antiques Sale which held on the 29th May, the final day of the auction, the venue was full when the auction began, as a result of many collectors who had been reviewing the work at the preview.

At start, the 18th century gilt Buddha "COPPER GILT AMITABHA" got Hong Kong and Taiwanese collectors participated in the telephone bids, but collectors coming from China got the lot at HKD 200,600.In Chinese old ceramics, "BLACK GLAZED HIGH LEG CUP" produced in Longshan Culture (BCE 2500-2000) and "RED GLAZED GOURD SHAPE VASE" produced in the middle of the Qing Dynasty were sold out at more than four times the estimate prices, there was a tendency that bids of enthusiasts concentrate on some of the works.When the sale of Chinese antique collection from oversea began, the venue was surrounded by faint tension. Biddings with no reserve were all started from HKD 10,000, so many enthusiasts did not want to miss the opportunity to get their favorite works. When bidding began, the works sold out one after another, and "LONGQUAN GUAN-TYPE VASE" sold out at HKD 100,300 due to the fierce competition between the Asia enthusiasts who joined our auction."GE STYLE SQUARE WATER DROPLET" which inscribed sign in Chinese characters on the bottom was the most frequently asked work at the preview. When bidding started, a bidding competition between the venue and the online bidding began, eventually sold out at HKD 25,600 and went to the hands of Hong Kong enthusiasts who came only to compete for this work.The bronze mirror "GILT EMBEDDED STONES SEMI-

ALLIANCE BEAST MIRROR" with delicate and beauty sold out at HKD 118,000 which gained evaluation of many collectors. With good result that 9 of 11 bronze mirrors sold out. Similar with the Tokyo sale, bids were concentrated in some of the works, with high biddings beyond

expectations, but the result of successful bid rate was not satisfaction. Based on this sale, it is a future task to grasp the market needs and improve the successful bid rate.

June 2017


JPY 920,000, 1.8 times to the lowest estimate price, and it felt a certain demand for Rousseau's fine works.

Louis tyle furniture showing high elongationThe good result of L. Majorelle in this sale is also remarkable. A beautiful wood carving consisting of fine handicraft unique to Majorelle, such as a side table decorated with clematis flowers from the edge of the top board to the legs and the MARQUETRY WRITING DESK "PRIMEVÈRES" featured beautiful curves from the right and left sides in the top to the bottom of the leg etc., beautiful wood carving made up of fine handicraft unique to Majorelle were attracting the eyes of the people who visited the preview. All of the 7 works showcased were sold out, and the above-mentioned two works attracting attention at the preview were sold out at a price much higher than the high estimate price, this shows the strength of the popularity.For this season, many high-quality furniture were consigned, the works which sold out at prices much more than the estimate prices were LOUIS XVI STYLE CABINET WITH MARBLE TOP BOARD (estimate price was JPY 300,000~500,000, sold out at JPY 1.265 million), GILT-WOODEN CARVED

Gallé's artistic piecesPopular concentration of the Daum lamps!The first Tokyo sale in 2017 started from beautiful pieces of E. Gallé. 277 items in Western Decorative Arts department which were about 40% of the total number of consigned items in this sale, previewed to many new and old collectors at the venue, and the sell-through rate was 9 points higher than last year's Tokyo sale by 86%. The total sale price was about 170% higher than the previous sale and about JPY 124 million recorded, this was a great success. Among the Art-Nouveau glass works of this season, popularity concentrated on enamel works of early Gallé, precious artistic works etc. In particular, the Gallé beautiful uranium glass "FLOWER BOWL" sold out at JPY 1.61 million against the estimate price of JPY 700,000 to 1,200,000, followed by The Gallé "BUTTERCUP VESSEL" of highly advanced techniques with perle-metalic, salissure etc. sold out at 2.53 millionagainst the estimate price of JPY 1.5 to 2.5 million.

Moreover, The "WATER LILY BOWL" with the volume using marquetry technique was competed between discreet collectors, it sold out at JPY 4.6 million against the estimate price of JPY 2.5 to 3.5 million.In addition, despite

decorating the cover of this sale, Gallé's LAMP "JEANNE D'ARC" which was drawing attention to many collectors at the preview due to its overwhelming presence, it did not sell out in the auction, but sold out in after sale successfully.Gallé is not the only one that supported the success of the sale. Daum of SNAILS IN GRAPE TABLE LAMP with applied decoration sold out at JPY 4.6 million, the delicate ERABLE TABLE LAMP with shape of inkycap sold out at JPY 5.75 million, and large beautiful Magnolia of a PAIR OF FLOOR LAMPS sold out at JPY 3.795 million etc., Daum lamp works were also sold out at high prices, and the violet series that boasts overwhelming popularity from collectors also made excitement of the sale.

Regarding G.A. Rousseau, a representative glass artist at the Art Deco period, the masterpiece of famous vase "LIBATIONS" was sold out at JPY 3.45 million which is 2.3 times to the low estimate price, NIGHT LIGHT "LA COUPE FLEURIE" passed to the hands of enthusiast at

Émile Gallé LAMP "JEANNE D'ARC" h61×φ25 cm

LOUIS XVI STYLE CABINET WITH MARBLE TOP BOARDh148×w125×d41.5 cm

Émile Gallé "WATER LILY BOWL" h14×φ20.5 cm

86% of the sell-through rate! Total sale price increasedby 170% compared to the previous sale

-Western Decorative Arts-

June 2017


CABINET etc. Silver cutlery and tableware in the latter half of the sale left a steady result with a sell-through rate of 100%, especially silver cutlery, 90% sold out at prices more than the high estimate price. For tableware, bids collected in high-quality works with a gorgeous appearance such as Bavaria and Meissen. Other noteworthy is that bronze works struggled in recent sales recorded the sell-through rate of 100%. For jardiniere with

bronze sculpture, G. Flamand Art-nouveau style bronze lamp, A. Moreau bronze sculpture etc. were competed by bidders in Europe, Japan and China, sold out at prices more than the high estimate prices.Moreover, the Persian Carpet collection was important works in the sale, the first lot sold out at a price more than the highest estimate price, and many lots sold out afterward, was recorded a high sell-through rate of 87%.

It is probably the collection of the Venetian Glass Art Museum Collection in the Italian village of Nagoya harbor which got the highest attention in the Tokyo sale this season. As a museum exhibiting glass works which are traditional crafts of Venice only, it opened in 2005 and has been

widely praised, but closed in 2008, a large collection of works were presented in this sale.Moreover, we would like many people to collect this museum collection. So adopted a reasonable starting price system such as JPY 10,000, JPY 30,000 etc. It was a situation that we did not know how much reaction will get until the end. As a result, a lot of customers visited the preview and the auction, the total price of the successful bid was about JPY 28.5 million, the average growth rate from the starting price was 13 times, the work up to 80 times appeared etc. made the auction become lively. It was a successful sale that total 101 lots were sold out.

The most competitive works in the collection were "FLOWER DECORATED CHANDELIER" and M. BONAVENTURA "SPHERE". Although both works

had starting price of JPY 10,000, the prices rose quickly and sold out at JPY 805,000. Looking at different artists, works of D. ROSIN which features large, powerful works and animal themes, Tsuchida Yasuhiko which is special in textures and colors, and M. Schiavon which features colorful and modern design etc. gained popularity.W. Furlan "SURPRISE" based on Picasso's painting was the most frequently inquiries in advance due to a lot of exposures to advertisement etc. It was popular enough to fill all the prepared phones for telephone bids, eventually the bidders of the domestic and Asia competed ferociously with each other, and the domestic collector got the work.

The highest value in this collection was G. Ghisetti's large work "ENAMEL COLORING TECHNIQUE GLASS PANEL" which reproduced the work "Polyptic (multi-wing altarpiece)" by Venetian painter Carlo Crivelli of the 15th Century. Elaborate painting attracted collectors and sold out at JPY 4.6 million.

White-glove Sale of Venetian Glass Art Museum Collection- Starting price system attract bidders -

The Second Sale of the Venetian Glass Art Museum Collection has been set!

Presented in Autumn Sale Tokyo again!Following the great success at the spring sale, the second time of the Venetian Glass Art Museum Collection will be auctioned at Autumn Sale Tokyo 2017, including the works that were planned to be kept by the owner.Works of artist such as M. Schiavon and W. Furlan who were popular this time have also been set to be auctioned. Please join us for this Autumn Sale as it will be the last opportunity to acquire the museum pieces.

June 2017


General report on Spring Sale 2017What is a highly appealing work?

At the Tokyo auction, which is the first auction this year, as mentioned earlier, the Venetian Museum Collection recorded a 100% sell-through rate, and it was definitely a good start. As a main factor that made this collection so successful, it was about excellent works of museum collection.Est-Ouest started with the Daum family treasure collection at the time of development in 1984 and consists of the Bernard Buffet Collection, Picasso's Ceramic Collection, a large collection of Mr. Yutaka Ishinabe of first-class chef, R. Lalique Collection of Shonan Enoshima Perfume Bottle Museum, have held numerous single owner collections including Chinese antique collection by Japanese collectors. Through the collector's highly developed taste and aesthetic, their collection is generally high quality too, attracting a lot of people. In addition, the "beginner" work, which has not been exposed in the market since the collector had collected for many years, has a high needs to the buyers with judgment.

According to the regional breakdown of the number of sell-through lots in this season's Tokyo sale (left chart), Japan's bidder occupies 73% of the total as before, showing the overwhelming share ratio. China, Taiwan, Hong Kong and European countries will continue be the next, but there is no big difference in the percentage of

each country. The strength of Japanese buying, Western decorative art such as Art-Nouveau and Venetian glass accounts for more than half of the lot number of the whole, about 80% of this field was Japanese buyer, in the field of Chinese & Japanese Antiques and jewellery, more than 60% have been bidding by Japanese buyers, which shows the positive attitude of Japanese buyers who were boosted by the Japanese economy.

Growth of auctions in JapanArt Tokyo Association hosting "Art Fair Tokyo" conducted "Japanese Art Industry Market Research Report 2016" and estimated its market scale to JPY 334.1 billion (Fig. 1). Among them are made up of three markets "① art market" (JPY 243.1 billion) such as antique, painting, sculpture, contemporary art, "② Art related goods market" (JPY 49.3 billion) such as goods and catalogues sold in exhibition, "③ Art related service market" (JPY 50.7 billion) including art museum entrance fee and art festival expenditure held in various places in Japan.

Out of the art market ① (JPY 241.1 billion), JPY 203.7 billion is purchased from domestic art industry. Domestic art Galléries accounted for the most, of which JPY 79.2 billion was counted, followed by domestic department stores by JPY 62.7 billion, domestic art fairs by JPY 17.6 billion, domestic auctions by JPY 14.8 billion, besides, purchase from overseas was JPY 14.2 billion, direct purchase from artist was JPY 21.9 billion. The characteristics of Japan's distribution channel "buying artworks at department stores" are highlighted outside the country, and sales patterns such as auction have shown that the market for Japanese auctions is still growing in the Japanese market.On the other hand, auction has become one of the main distribution channels of arts purchase along with art fairs and Galléries in Hong Kong. Looking at the breakdown of the number of sell-through lots by region in Hong Kong Sale this year (the right figure), as in the previous sale, Hong Kong's bidder was 44.4% at the top, followed by Japan 21.4%, China's 15.3%, Southeast Asian countries such as Singapore and Indonesia, followed

Japan 73.1％

① Art Market：243.1

Fig.1 Japanese Art Industry Market Research Report 2016

Source : Art Tokyo Association

①～③ total 334.1 （Billion Yen）

② Art related goods market 　 40.3

③ Art related service market　 50.7

Purchased from domestic art industry 203.7

Purchase from overseas 14.2

Museum entrance fee：42.8 Art fes. expenditure fee：7.9

Others (purchase from artist etc.) 25.2

China7.8％

Taiwan7.2％

Hong Kong 5.5％

Europe & U.S.A. 3.8％South East Asia 2.5％

Art Galléries79.2

Department stores62.7

Art Fair 17.6

Auction 14.8

Others 29.5

Japan 21.4％

Hong Kong44.4％China15.3％

S.E Asia8.1％

Taiwan 6.9％ Europe & U.S.A. 3.2％

Korea 0.8％

Spring Sale TokyoRegional Distribution of

Sell-Through Lots

Spring Sale Hong KongRegional Distribution of

Sell-Through Lots

June 2017


Est-Ouest Live Bidding has been operated for years!■ Many Thanks! Our 2nd Anniversary The Est-Ouest Live Bid has been started since the spring sale of 2015 and the number of registered guests gradually increased from the beginning. We have received many feedbacks from users such as “It would be easier to understand if Japanese Yens could be shown in Hong Kong Sale” or “The relay video and voice are really helpful.” Based on these comments, we will try our best to make improvements and provide more convenient service for our customers.

■ Free registration and participationIt is easy and free for registration. With computers and internet, you can participate in our live bid anywhere in the world. We receive applications by e-mail, fax and mail. If you are interested in our live bid, please do not hesitate to join us!

Inquiry: [email protected] Person: Kojima

How To Register for "EST-OUEST Live Bidding"Visit our live bid page from the top right of the home page of our website and fill in the registration form.

Fill in and provide the necessary documents for us by e-mail, fax or mail which we will send to you after registration

You will receive ID and password by e-mail once documents confirmed. Please keep it confidential.

Log in with the ID and password in the user's page linking from live bid page.

Read the Internet Live Bidding Manual and launch the live screen which will start showing the actual bidding and confirm the operation

In the auction day, launch the live screen to check the relay video and voice and participate in the auction.

１ 2 3

4 5 6

ID ******PASSWORD ********

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e-mail fax 〒

Starting the LiveLog In

by Taiwan, and European countries such as Switzerland and Belgium. The international richness is mainly due to the period of the auction. Est-Ouest Hong Kong Sale is set in a period called "auction week" where numerous auctions are held in various places in Hong Kong in both Spring and Autumn. As a result, buyers around the world who are seeking good products in this period gathering in Hong Kong, the appearance of moving around the auction site to site is the seasonal tradition at this time. New and old collectors gathered together at the Est-Ouest venue and matching schedules with other auctions and art events to participate for works qualifying.

To possess ArtLooking at the world’s art market, the work sold for the highest price in 2016 was Claude Monet’s “Meule” which realised USD 81,400,000 establishing a new world record for Claude Monet’s works. The following were Willem de Kooning, Pablo Picasso and Peter Paul Rubens who were known as brilliant masters in the Western art history and Jean-Michel Basquiat’s “untitled” was ranked fifth.As lots of media reported, Mr. Yusaku Maezawa, the CEO of START TODAY CO., LTD. known as the operating online fashion retail website, ZOZOTOWN, bought this masterpiece for USD 57,285,000. Due to the media widely reported among countries, the existing collector has been known to art related groups in the world. In this May, Mr. Maezawa again bought a 1982’s large work of Jean-Michel Basquiat for USD 110,500,000, which broke a record for American artists and once again emphasized

the existence of the big Japanese collector in the art world. Japanese collectors appearing actively in the global art market during the bubble era was said to be a distant past. However, as a part of the art market, it is extremely pleasure for us to hear such splendid news. Recently, the concept of “Sharing Economy” brought a great influence to the modern society. Sharing houses, cars or clothes rather than owning them has gradually become a new choice. For most of people, to purchase or to possess luxury products like art works is the option that far away from them. Nevertheless, the active existence of early-40s Mr. Maezawa showing the interest or possibility of acquiring art could be a great stimulus for young people. The great merit of possesing art is that art works can not only satisfy collectors’ interests but also being investing targets as portfolio of asset diversification. “Japanese Art Industry Market Research Report 2016” indicated that auction market which is a way of art commerce in Japan art still emerging. By holding auctions that can attract younger generation to participate in, we are looking forward to seeing the new generation collectors become active among Japan and global art markets.

Basquiat "UNTITLED"

June 2017


Invitation to ConsignmentsModern, Post-War & Contemporary Art, Japanese Art, Chinese Paintings and Calligraphy and Antiques, South Asian Art, Jewellery & Watches, Pure Gold Works, Agarwood, Ivory, Vintage Wine, etc.…

Deadline of Consignment Tokyo : Sat. 9 September Hong Kong : Fri. 6 October

2017 Autumn Sale Tokyo/ Hong Kong

In the spring sale, we felt the market is getting more active with the great results of high sell-through of western decorative art, high-growth-rate oriental art, high-profile jewellery and strong recognition of Japanese post-war art which the wider kinds of works are focused on. In the next year of 10th anniversary of Est-Ouest auction Hong Kong Sale, we are sincerely welcoming consignments for 2017 autumn sales. Please do not hesitate to contact us!

Tokyo Auction : Sat. 21 October Hong Kong Auction : Sat. 25 to Mon. 27 November 2017

Welcoming Consignments

Paul Cezanne “Jeune Fille en Méditation” oil on canvas laid on panel 27.5×18.5 cm　cir.1860

[email protected] www.est-ouest.co.jpEST-OUEST AUCTIONS Co., Ltd. Tokyo 　　　2-5-15 Higashi Gotanda, Shinagawaku Tokyo 141-0022 JAPAN Tel +81 (0)3 5791 3131 Fax +81 (0)3 5791 3133Hong Kong Galléry 2, ART ONE, M/F, Convention Plaza, 1 Harbour Road, Wan Chai, Hong Kong Tel +852 3977 2131 Fax +852 3977 2033

special feature on auction highlights june 2017 excited ... · banksy, keith haring, alighiero...

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