Sotheby’s Hong Kong Modern & Contemporary Southeast Asian paintings sale achieves 10.6 million

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HONG KONG.- Today Sotheby’s Hong Kong Autumn 2011 Sale of Modern and Contemporary Southeast Asian Paintings fetched a promising total of HK$82.8 million / US$10.6 million, more than doubling the presale estimate (HK$33 million / US$4.2 million*), and achieving the Second Highest Sale Total For A Various-Owner Sale Of This Category At Sotheby’s Hong Kong. MOK Kim Chuan, Sotheby’s Head of Modern and Contemporary Southeast Asian Art, said: “Following our record sale of Southeast Asian Art this past Spring, we were entrusted with significant paintings by key Modern artists from Indonesia, Singapore and the Philippines which gave us our second highest sale total ever. Collectors responded with enthusiastic competition both for appealing canvases by S. Sudjojono and the largest known work by Hendra Gunawan to ever come to auction, which achieved an exceptional price. Records