Tighter Screening, and the Best Are Chosen!

Text by Bambang Asrini Widjanarko

There may be a global economic crisis, but the art market is still going strong and local auction houses have their own strategies.

Two Geese by Lee Man Fong.The crisis has not dampened the enthusiasm of Indonesia's many art aficionados. One or two exhibitions were held in Jakarta almost every week in February, and we still hear about auction houses offering top-quality pieces every month. Undeniably, though, the volume of transactions and the number of works on offer have declined. The art boom seems to be a thing of the past, at least for now.

But as the old proverb has it, if you want to become a real sailor, go sailing when the waves are intense. If you prefer to wait until the sea is calm, forget your dreams. The market is now undergoing a "correction" and buyers are "highly selective". Art lovers know that this is the time to show your true appreciation of fine art by choosing only the best. Genuinely qualified artists are still having their work shown by the galleries, which refuse to give up. And local auction houses are also getting into the act.

One of the most aggressive local auction houses is Masterpiece, which regularly shows works by artists in its three auction lines: Masterpiece, Heritage and Treasures. This group has its own strategy to remain steadfast and is ready to "ride the waves".

Masterpiece applies a pricing strategy with estimates that are not too high, and provides conveniences such as accepting credit card payment without any surcharges. And the works it offers are more carefully screened, by well-known artists, and worth collecting. This auction group also provides premium discounts: if you win the purchase of a work through an open bidding session and pay within a week, you will receive a 2% discount. If you win with a written bid and pay within 48 hours, the discount is 4%.

Two Geese by Lee Man Fong.So what's their strategy for breaking into the foreign market? The island nation of Singapore, the one and only lasting "hot plate" for collectors in Asia, and even Europe and America, for our works, is ready and waiting.

From 6 to 8 March, the Masterpiece auction house is holding an auction at the Sheraton Towers Hotel, Singapore, with a total of 300 lots, comprising Southeast Asian, Chinese contemporary, and modern art pieces.

It's predicted that interest in the old masters will remain strong, since these are quality pieces that provide stable, low-risk investments. The auction in Singapore is offering some of the best works of Affandi, Hendra Gunawan, S. Sudjojono, Widayat, Lee Man Fong, Antonio Blanco, Popo Iskandar, and Sunaryo.

Equally exciting, the preview sessions (Friday–Saturday, 6–7 March) feature works by such rising stars as Agus Suwage, Putu Sutawijaya, Rudi Mantofani, Galam Zulkifli, Dipo Andy, Dede Eri Supria, Ay Tjoe Christine, Eko Nugroho, Alit Sembodo, Jumaldi Alfi, Gede Mahendrayasa, Saftari, Yunizar, S. Teddy, Ugo Untoro, and M. Irfan.

The Chinese contemporary art includes works by the Luo Brothers, Yang Qiang, Liu Hong, Xiong Yu, Yin Kun and Tsui Tin Yun, while the Philippine artists represented are Ramon Orlina, Rodel Tapaya, Ronald Ventura and Donovan Phity, and from Thailand, Natee Utarit. Works by artists from India, Vietnam and Korea are also on offer.

Among the works being promoted as highlights by Masterpiece is a piece by Galam Zulkifli entitled "Ilusi # 21, The Real of Imagine", which portrays two pop music legends, Freddie Mercury and John Lennon, in a 200x200cm painting in acrylics.

Threat of the TV by Eko Nugroho.Galam Zulkifli is the only Indonesian artist who won the Top Five Philip Morris Indonesia Art Award in 1999 and 2003. In this work, Galam reminds us how these two great singers shared a vision of defending the disadvantaged.

Eko Nugroho, shown in "Ancaman TV" (Threat of the TV) (lot 130), has taken part in several international shows, including at the Japan Foundation, Tokyo (2004–05). Eko's works focus on the world of contemporary politics and social issues, and have a humorous and highly personal character.

The auction also features works by the old master, Affandi. One of his best pieces, "Adu Ayam" (Cockfight), which is on offer, reminisces about Affandi's life when he was just starting his family. Many of his works tell about difficult struggles, poverty, and wasted lives.
The global economic crisis can affect any business sector, but the art market seems to be holding up fairly well. Is this an anomaly in the art market? We'll see this month in Singapore.