Sotheby’s Sales of Modern and Contemporary Southeast Asian Paintings Totals US$13.8 Million

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HONG KONG.- Sotheby’s Spring 2011 sale of Modern and Contemporary Southeast Asian Paintings today fetched a stunning total of HK$108 million / US$13.8 million, tripling pre-sale estimate (HK$36 million / US$4.6 million*). The sale set the world record for any Contemporary Southeast Asian Painting at auction and for the artist, when the thought-provoking piece – Grayground by Filipino artist Ronald Ventura sold for HK$8.4 million / US$1.1 million. There was strong interest in important and top quality artworks, proved by active participation in the room and over the phone throughout the sale, which led to numerous artist records, including Hendra Gunawan, Andres Barrioquinto, Samsul Arifin, Nguyen Gia Tri and Indieguerillas. MOK Kim Chuan, Sotheby’s Head of Southeast Asian Paintings said, “Today’s total of HK$108 million set a record for a sale of Southeast Asian Paintings at Sotheby’s, establishe