At the K Auction September auction held on the 29th, Ayako Rokkaku's 'Untitled' was sold for the highest price of the day at 580 million won.
[Asia Economy Reporter Donghyun Choi] K-Auction sold artworks worth over 10 billion KRW at its September auction.
K-Auction announced on the 30th that at the September auction held the previous day at its headquarters in Sinsa-dong, Gangnam-gu, Seoul, it achieved a hammer rate of 89% and a total hammer price of 10.667 billion KRW.
The highest auction price was for Ayako Rokkaku's 'Untitled,' which adorned the cover of the September auction catalog, sold for 580 million KRW. The artist gained global attention for her unique technique of painting acrylics on cardboard or canvas with bare hands. The top-priced piece 'Untitled' is a typical work of the artist, depicting a cute girl in lively colors on a large canvas.
Following that, Park Seo-bo's 'Myobeop No. 100716' was fiercely contested through written bids, phone, on-site, and online, finally selling for 540 million KRW. This work stands out with its harmonious natural colors and the diverse hues of autumn leaves, fully captured on the canvas with red myobeop strokes.
Among Kim Whanki's works in this auction, the 1960 piece 'Untitled' was listed at 300 million KRW and, after intense competition, sold for 460 million KRW, receiving enthusiastic applause on-site. This piece was exhibited at the 1994 Kim Whanki 20th Anniversary Retrospective: "Where Do We Meet Again?" at the Whanki Museum, and judging by the overall composition and color application, it is a highly accomplished masterpiece.
While concerns arose over the declining interest in traditional painting amid the continuously rising art market, this auction confirmed that discerning collectors still have a keen interest in cultural heritage that illuminates Korean art history. Yang Ki-hoon's 'Baekmaedo (White Plum Blossom Painting)' started at 15 million KRW and, after fierce bidding, was sold for 125 million KRW, drawing applause inside the venue.
Amid the booming art market, demand for works by Korean figurative artists has also increased. Two pieces titled 'Farm' and one titled 'Apple Tree' by Lee Dae-won, which suit the rich autumn season well, were all auctioned and sold.
The popularity of works by Korean experimental art masters Kim Ku-rim, Lee Gun-yong, and Lee Kang-so was also intense. Three works by Lee Gun-yong, known for 'Body Drawing,' and two works by Lee Kang-so, the 'Duck Artist,' all found new owners. Kim Ku-rim, a 'first generation avant-garde artist,' started bidding on 'Eumyang 8-S, 7' at 30 million KRW, and after fierce competition, it sold for 90 million KRW, surpassing the high estimate. These artists are scheduled to participate next year in the joint exhibition 'Avant-garde: Korean Experimental Art of the 1960s-70s' co-organized by the National Museum of Modern and Contemporary Art and the Guggenheim Museum in New York.
Additionally, works by major international artists such as David Hockney, Yoshitomo Nara, Jes?s Rafael Soto, and Bernard Buffet were also evenly sold. Works by young Korean figurative artists including Woo Guk-won, Kim Sun-woo, and Moon Hyung-tae were sold after competition, once again demonstrating strong market demand. Woo Guk-won's 'Ugly Duckling' started at 15 million KRW and sold for 230 million KRW.
K-Auction's next auction is scheduled for October 27.
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