Lee Jungseop's "Cow and Child" Sells for 3.52 Billion Won After 70 Years in the Art Market

Fell Short of the Previous Record Price of 4.7 Billion Won

After 70 years, Lee Jungseop's (1916-1956) "Cow and Child" (1954), part of his "Cow" series, has found a new owner in the art market.

Lee Jungseop, Cow and Child (1954). Courtesy of K Auction

At the auction held on September 24 at the K Auction headquarters in Sinsa-dong, Seoul, bidding started at 2.5 billion won and the piece was finally sold for 3.52 billion won.

The artwork depicts a child seemingly entangled between the hind legs of a cow, whose head is lowered to the ground with wide, intense eyes. First unveiled at a solo exhibition at the Midopa Gallery in 1955, the piece was purchased by Jeong Giyong, the former head of Won Gallery, who passed away this June, and has been held in his collection for the past 70 years.

Although it has been exhibited several times, this is the first time it has been offered for sale on the market. It is estimated that only around 10 pieces from Lee Jungseop's "Cow" series remain today. Most are held by museums or public institutions, making works available in the auction market extremely rare.

The highest price ever fetched for a Lee Jungseop work at auction was 4.7 billion won for "Cow," sold at a Seoul Auction event in 2018. On the same day, "Mountain" by Park Sookeun (1914-1965), which was also part of Jeong Giyong's collection, was auctioned off for 1.2 billion won.