On Sunday, as ART SG and Singapore Art Week concluded, Sotheby's conducted its annual modern and contemporary art auction in Singapore. The event marked a significant milestone, with total sales reaching an impressive $13.1 million across 62 lots, the highest since 2023.
The auction boasted a remarkable 94 percent sell-through rate, attracting bidders from regions including Southeast Asia, the US, the UAE, Europe, South Korea, Japan, India, and China.
The highlight of the sale was Adrien-Jean Le Mayeur de Merpres's painting Weavers (1953), which fetched approximately $1.2 million, including fees. Another standout was Takashi Murakami's Blue Signals (2017), which sold for around $1.06 million.
Sotheby's also announced new auction records for artist Pacita Abad, whose 1984 work Assaulting the Eye with Ecstasy sold for $389,400, exceeding its low estimate by more than four times. Additionally, Singaporean artist Anthony Poon set a new record with his 1986 piece Colour Waves, which sold for $129,800, more than double its low estimate.
"The enthusiasm displayed by our collectors for regional talents like Chen Wen Hsi, Anthony Poon, and Pacita Abad was remarkable," stated Jasmine Prasetio, Sotheby's managing director for Southeast Asia. "Simultaneously, the growing interest in renowned international artists was evident, with multiple bids placed on works by David Hockney and Marc Chagall, showcasing the diverse tastes of Singapore's vibrant art community."
