At its marquee London night sale on July 2nd, Christie’s made available a do the job that was so huge the auction home couldn’t in good shape it into their King Road headquarters for the preview. Interested collectors had to e-book a time to pay a visit to Christie’s off-web-site storage warehouse in northeast London for a closer seem at Point out of Remaining (2016), a sculpture measuring nearly 10 toes lengthy by 10 ft vast, and additional than 4 ft tall (before factoring in the similarly massive plinth it sits on) by the Japanese artist Chiharu Shiota. The piece, which characteristics five thousand previous keys suspended in a dense world wide web of purple thread, in the end sold for £287,500 ($396,000)—nearly double its high estimate. That final result was also a $150,000 soar from Shiota’s previous auction report, established fewer than a thirty day period earlier at a Phillips and Poly Auction working day sale in Hong Kong.
Shiota’s profile has been on the increase since her star-making transform representing Japan at the Venice Biennale in 2015. On Artsy, demand from customers for her operate commenced to just take off in 2019 when the variety of collectors inquiring about her get the job done tripled 12 months on year 2021 is her most significant yr on the platform so significantly, with the quantity of inquiring collectors already surpassing final year’s report-environment complete. Tellingly, secondary-market selling prices for her function have kicked up a notch in the earlier yr. Her function initial surpassed the $100,000 mark in December 2020, and has due to the fact performed so 6 more occasions. On the primary industry, prices for her works—especially these over and above her iconic constructions crammed with threaded webs—remain comparably cost-effective. At the 2020 version of The Armory Show, Galerie Templon offered new bronze sculptures of hers for costs amongst $34,000 and $45,400. At very last month’s virtual edition of Frieze Los Angeles, König Galerie was featuring a the latest do the job in watercolor, crayon, and thread on paper for €6,600 ($7,800).
Ha Chong-hyun, a main member of the portray motion and a titan of the Korean art scene (he served as the director of the Seoul Museum of Art from 2001 to 2006), has also found a surge in major-current market demand in modern decades. Curiously, that demand from customers hasn’t translated to the secondary industry (nonetheless). On Artsy, the variety of collectors inquiring about his operate has risen every single 12 months less than two-thirds of the way as a result of 2021, it is now his major year on the system. The number of inquiries peaked in May perhaps when New York’s Tina Kim Gallery opened its third solo present of Ha’s operate, showcasing colourful compositions produced in the previous decade that marked a departure from his most legendary, monochromatic paintings.
Right after decades of demonstrating mostly in Asia, Ha experienced his 1st solo exhibits in Europe in the 1990s, then in the U.S. starting off in 2014. Given that then, he has grow to be a fixture at international art fairs, wherever functions from his seminal and ongoing “Conjunction” series—which he started off in the 1970s by pushing paint through burlap and hemp fabric from the again, fairly than implementing it right to the entrance, of a canvas—regularly fetch six-determine sums. Most recently, at Artwork Basel in Hong Kong in Might, Korea’s Kukje Gallery offered 4 “Conjunction” works for prices amongst $143,000 and $155,000 just about every, when Almine Rech marketed two of his paintings for rates amongst $130,000 to $200,000 just about every. Functions from Ha’s “Conjunction” series dominate the secondary market for his function, accounting for 8 of his 10 most significant . Apparently, only one particular of people success has been set considering the fact that 2018. The two most important revenue of his function at auction date from the exact same Sotheby’s sale held in Hong Kong in November 2018: Conjunction 74-24 (1974) set his history when it surpassed its substantial estimate of HK$2 million (US$255,000) to offer for HK$2.7 million (US$351,000). As need for Ha’s do the job proceeds to swell on the most important marketplace, hope auction residence experts and collectors to line up “Conjunction” operates for sale in the coming months.