Historically, August has been just about the only month of the year when the big auction houses have a marquee sale. Not anymore, though: The big story last month was Sotheby’s first live sale in Singapore in 15 years, which generated a total of SG$24.5 million ($18 million).
In a statement, Sotheby’s Jasmine Prasetio, managing director of the house’s Southeast Asia arm, said the result “surpassed our expectations and underlines the potential for Singapore and the Southeast Asia region as a whole.”
The top lot at that sale, which took place on August 23, was Russian-German artist Walter Spies’s 1928 oil painting one of only 20 works by the artist to appear at auction—which fetched SG$4 million ($2.9 million). A new world record for Singaporean artist Georgette Chen was set for , representing the highest price for a pioneer of the modern Nanyang art movement, according to the auction house.
Although the Singapore sale was the main event last month, the majority of top lots in August were sold at auction houses in mainland China, with a smattering in Seoul, South Korea. See the list of the top 15 most expensive works sold at auction in August 2022 below.
Estimate: RMB 15 million to RMB 20 million ($2.2 million to $2.9 million)
Final Price: RMB 25.3 million ($3.8 million)
Where & When: Guangdong Chongzheng Auction Co., Ltd, August 11, 2022
Estimate: RMB 10 million to RMB 15 million ($1.5 million to $2.2 million)
Final Price: RMB 20.2 million ($3 million)
Where & When: XiLingYinShe Auction Co. Ltd., August 20, 2022
Estimate: Undisclosed
Final Price: SG$4 million ($3 million)
Where & When: Sotheby’s Singapore, August 28, 2022
Estimate: RMB 10 million to RMB 15 million ($1.5 million to $2.2 million)
Final Price: RMB 18.9 million ($2.8 million)
Where & When: XiLingYinShe Auction Co. Ltd., August 20, 2022
Estimate: RMB 6 million to RMB 10 million ($880,000 to $1.5 million)
Final Price: RMB 14.9 million ($2.2 million)
Where & When: XiLingYinShe Auction Co. Ltd., August 20, 2022
Estimate: RMB 8 million to RMB 12 million ($1.2 million to $1.7 million)
Final Price: RMB 13.8 million ($2 million)
Where & When: XiLingYinShe Auction Co. Ltd., August 20, 2022
Estimate: ₩1.9 billion to ₩3 billion ($1.5 million to $2.3 million)
Final Price: ₩2.2 billion ($1.6 million)
Where & When: Seoul Auction, South Korea, August 23, 2022
Estimate: SG$700,000 to SG$1.2 million ($502,000 to $860,000)
Final Price: SG$2.3 million ($1.6 million)
Where & When: Sotheby’s Singapore, August 28, 2022
Estimate: Undisclosed
Final Price: SG$2 million ($1.4 million)
Where & When: Sotheby’s Singapore, August 28, 2022
Estimate: RMB 1.2 million to RMB 2.2 million ($176,000 to $323,000)
Final Price: RMB 9.1 million ($1.3 million)
Where & When: XiLingYinShe Auction Co. Ltd., August 20, 2022
Estimate: RMB 6 million to RMB 8 million ($880,000 to $1.2 million)
Final Price: RMB 8.6 million ($1.3 million)
Where & When: XiLingYinShe Auction Co. Ltd., August 20, 2022
Estimate: RMB 3 million to RMB 5 million ($440,000 to $734,000)
Final Price: RMB 8.4 million ($1.2 million)
Where & When: XiLingYinShe Auction Co. Ltd., August 20, 2022
Estimate: SG$950,000 to SG$1.2 million ($682,000 to $861,000)
Final Price: SG$1.6 million ($1.2 million)
Where & When: Sotheby’s Singapore, August 28, 2022
Estimate: RMB 5 million to RMB 7 million ($741,000 $1 million)
Final Price: RMB 7.4 million ($1.1 million)
Where & When: Guangdong Chongzheng Auction Co., Ltd., August 11, 2022
Estimate: AUD 500,000 to AUD 700,000 ($346,000 to $484,000)
Final Price: AUD 1.5 million ($1.1 million)
Where & When Smith & Singer, Australia, August 24, 2022
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