Indonesian artist I Nyoman Masriadi broke his two-day-old auction record for contemporary Southeast Asian art with a painting of bloodied boxers that sold for HK$7.8 million ($1 million) at Sotheby’s in Hong Kong.
Masriadi’s 2000 triptych “The Man from Bantul (The Final Round)”, measuring 2.5 meters by 4.35 meters, had a presale top estimate of HK$1.5 million, according to Sotheby’s catalog. On Oct. 4, a smaller painting by the artist, “Sorry Hero, Saya Lupa”, showing a morose Batman and Superman sitting on adjacent toilets, fetched HK$4.8 million at the same five-day auction.
Sotheby’s sold 92 of the 96 pieces of contemporary Southeast Asian art offered this morning, totaling HK$40.6 million. Today is the third day of the event, which is offering 1,700 items that Sotheby’s expects to fetch a combined HK$2 billion. This afternoon, modern Southeast Asian works and Chinese ink paintings come under the hammer.
The auction gives the first glimpse of art buyers’ sentiment before sales by Sotheby’s and Christie’s International in London and New York, starting this month. Global stock markets had their worst month in a decade in September, after the Sept. 15 bankruptcy of Lehman Brothers Holdings Inc., and on concern the U.S. is headed toward a recession. (Bloomberg)