The Tamesis
On Sunday, as ART SG and Singapore Art Week concluded, Sotheby’s held its annual modern and contemporary art auction in Singapore. The auction result was its highest auction total since 2023, with $13.1 million realized across 62 lots, the auction house reported on Tuesday.
The auction had a sell-through rate of 94%, with bidders coming from Southeast Asia, the United States, the United Arab Emirates, Europe, South Korea, Japan, India and China.
In an auction that brought together leading Western and Asian artists, a work by Adrien-Jean Le Mayeur de Merpres took first place. weaver (1953), sold for approximately $1.2 million including commission. Another seven-figure result was Takashi Murakami’s blue signal (2017), priced at approximately $1.06 million.
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Sotheby’s reports new artist record for Pacita Abad, painting 1984 Attack the eyes with ecstasy Price is $389,400. The bid for the project was more than four times higher than the lowest estimate, with five bidders competing. Singaporean artist Anthony Poon also set a new record with his 1986 work Colorful waves The sale price was $129,800, more than double the low estimate.
“We have seen a strong resolve from collectors who have rallied behind regional talent, from Vincent Chan to Anthony Penn and Pacita Abad,” Jasmine Prasetio, managing director of Sotheby’s Southeast Asia, said in a statement. “At the same time, there is growing interest in international blue-chip artists, and we are seeing multiple bids from the likes of David Hockney and Marc Chagall, reflecting the rich diversity of tastes and demographics in Singapore’s vibrant community.”
