Pulse: January – April 2016 Art Auctions
~74% of 630+ artworks were hammered down in five auctions across four months in hotel ballrooms, as the majority of artists’ prices decrease slightly this season . Auction houses vary their selling strategies, which include a lowered buyer’s premium, and absorbing GST. The Edge Auction and Henry Butcher do well to introduce more artists into the secondary market, as compared to the other two auctioneers who focus on peddling selected artists only. 'Subdued Auction Sales' reads the hilariously- naïve title of The Edge’s event summary , although that can even be an over-statement for its 45% sales rate, and non-sale of its high-priced holdings. Its erratic estimates likely contribute to the dismal performance. Chuah Thean Teng - Mother and Child For example, Chang Fee Ming’s ‘Rumah Kuning, Pulau Duyong’ appeared on the market in 2012 and 2014 , yet its estimate is now 100% higher; inflated estimates apply too for works by Fauzul Yusri and Syed Thajudeen which las...