An estimated S$4.37 million (US$3.5 million / 2.6 million euros) worth of sales were generated by Est-Ouest during its very first auction held in Singapore in January 2013. Around 65% of the items offered by Est-Ouest, Japan’s oldest auction house, were sold.
The top lot sold was Andy Warhol’s “Hearts Pink” which went under the hammer for S$354,000 (valued at between S$300,000 and S$450,000) inclusive of buyer’s premium.
“Young Leaf”, a drawing of a young girl by Japanese artist Nara Yoshitomo found a buyer at S$141,600. It was only befitting that Japanese artworks were offered by a Japanese auction house. Artworks form other Japanese artists included Kusama Yayoi and Murakami Takashi. (Refer to the earlier article: “A Golden Tea Ceremony Marks Est-Ouest’s First Singapore Outing” dated 19 January 2013).
Among the timepieces sold was an Audemars Piguet Royal Oak diamond and gold wristwatch which went for S$56,640 (valued at between S$45,000 and S$65,000). The few timepieces which were sold found buyers within their estimated values.
Salvador Dali’s bronze work, identified as “Persistance de la Mèmoire” in Oest-Ouest’s catalogue, was sold above valuation at S$18,880. This bronze piece made circa 1980, was estimated at between S$7,500 and S$12,000.
Many will find this “melting clock” in bronze familiar thanks to Dali’s very famous 1931 painting “La persistencia de la memoria” which is said to be in the collection of New York’s Museum of Modern Art since 1934.