Fernando Cueto Amorsolo, Philippines
Amorsolo is probably the most important 20th century Philippine artist, and this oil painting sold for $132,000, three times more than the most optimistic estimate.
otheby’s Asia
Southeast Asian Artists in Demand
While the carnage on Wall Street has pricked the bubbles in the Chinese and Indian contemporary art markets, the latest Sotheby’s (BID) auctions, held in Hong Kong on Oct. 6, indicate that Southeast Asian artists are still in strong demand. Several artists set new world price records for their art, including Indonesian artist I Nyoman Masriadi, arguably the biggest winner of all.
Indeed, the ebullience of the Sotheby’s Southeast Asian auction was in stark contrast to the Chinese and Indian sales on Oct. 4, when several top lots that should have fetched millions each by artists including China’s Liu Wei and India's Subodh Gupta went unsold. Here is a selection of Chinese, Indonesian, Philippine, and Vietnamese artists who did sell well.
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