Numerous Paper Works by Kim Whanki, Lee Jungseop, and Park Sookeun Featured
Auction to Be Held on January 28 at K Auction Headquarters in Sinsa-dong
K Auction's first auction of the year will be held at 4:00 p.m. on January 28 at the K Auction headquarters in Sinsa-dong, Gangnam-gu, Seoul. A total of 94 works, valued at approximately 9.8 billion won, will be presented. This auction is expected to serve as a barometer for the direction of the art market and collectors in the new year.
While the domestic art market went through a period of overheating followed by an adjustment phase last year, 2026 is expected to mark the beginning of qualitative growth, with stability and the intrinsic value of art driving the market. Despite external uncertainties, demand for blue-chip artists who have been historically validated is actually strengthening. There is a growing consensus that the process of discerning true value-satisfying both asset value and the joy of collecting-is now in full swing.
The highlights of this auction are works by Yayoi Kusama, Kim Chang-yeol, and Lee Ufan, who represent contemporary Asian art. Five pieces by Yayoi Kusama, regarded as a 'safe asset' in the global art market, will be offered, spanning both paintings and prints.
Kusama's "Butterflies 'TWAO'" is a canvas work combining water drop and butterfly motifs. Inquiries are required for this lot, but the starting bid is expected to be in the 1 billion won range. The painting "Dress," which graces the cover of the auction catalog, is a small-scale piece that succinctly encapsulates the artist's worldview of infinite repetition and proliferation, with an estimated price of 500 million to 800 million won. The 1989 screen print "Hello!" is edition 99/100 and combines broad appeal with collectability, and is estimated at 52 million to 100 million won.
Kim Chang-yeol's "Water Drop ABS N° 2" is a large-scale canvas from 1973 and is considered an early masterpiece that epitomizes the transparent yet tangible depiction of water drops developed during his time in Paris. The extreme realism and contemplative depth achieved on linen symbolize the starting point of Kim Chang-yeol's artistic journey, with an estimated price of 900 million to 1.4 billion won.
Lee Ufan's "Dialogue" is a large-scale piece created in 2006, representative of his "Dialogue" series, which reveals the tension of space and emptiness through minimal brushstrokes. Having consistently proven its value in both domestic and international auction markets, this work is estimated at 890 million to 1.4 billion won for this auction.
This auction also shines a spotlight on the artistic prowess of female artists. Cheon Kyungja's "In Kushiro, Hokkaido" is a 1983 color painting on paper that captures exotic scenery with vivid colors and lyrical sensibility, and is estimated at 95 million to 150 million won. Yang Haegue, who has established an international reputation, presents the installation "Towel Light Sculpture? Budget Pantomime of 600 Dollar, 700 Euro and 22000 Yen," a work that intersects sensory experience and political commentary through everyday materials, estimated at 70 million to 150 million won.
In addition, drawings by masters of Korean modern and contemporary art such as Kim Whanki, Lee Jungseop, and Park Sookeun are also attracting attention. Kim Whanki's "Bird" is a 1959 gouache on paper, where lyrical sensibility and compositional finesse are condensed into a simple form, estimated at 25 million to 50 million won. Lee Jungseop's untitled pencil drawing exposes inner emotions through rough lines, with an estimated price of 35 million to 80 million won. Park Sookeun's "Willow Branches," created in 1964, is a drawing that captures everyday scenery with simple lines, and is estimated at 11 million to 30 million won.
A preview exhibition of the auction works will be held at the K Auction gallery until January 28. The gallery will be open every day during the preview period, and visitors can view the exhibition free of charge without a reservation. Participation in the auction is possible after registering as a member, via written, in-person, telephone, or online live bidding. On the day of the auction, anyone can attend regardless of membership status.
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