The Korea Art Price Appraisal Association (KAPAA) and Artprice released a report on the Korean auction market during the first half of the year
Six of Kim’s works included in top 20 highest priced artworks
Popularity of monochromatic paintings continues
The total of auctioned artworks in Korea (including pieces sold at Korean auction houses’ international entities) for the first half of this year was reported at KRW 98.9 billion.
According to a report released July 3 by KAPAA (President: Cha Dae-young) and Artprice, the total sale of Korean artworks at 12 local auction houses for the first half of this year was KRW 989,411,410. A total of 9,515 works were sold out of 14,027 artworks on offer, marking a successful bidding rate of 67.83 percent.
In terms of auction turnover, Seoul Auction maintained its first position (accounting for 48.4 percent of total bids) with a turnover of KRW 47.9 billion, followed by K Auction (39.9 percent) with KRW 39.5 billion, among Korean auction houses. Sales at these two major auction houses account for 88.3 percent of Korean auction market sales, still a dominant proportion of the local auction market. However, it has slightly decreased from the 92 percent reported at the end of last year.
“The popularity of monochromatic paintings at both major auction houses has somewhat decreased. This seems to have happened as small and medium auction houses succeeded in targeting niche markets such as ones for mid–low price range works and Korean traditional artworks,” noted Kim Yeong-seok, head of the appraisal committee at KAPAA.
In terms of the highest auction prices among artworks on offer during the first half of the year, the popularity of the artist Kim Hwanki (1913–1974) is still evident. Among the top 20 works, as many as six pieces, including the top three, were his paintings. The total sale of Kim’s paintings marked KRW 14.6 billion, much higher than the second top seller, Lee Ufan, with KRW 5.2 billion.
Among the top 20 artworks, 12 works were monochromatic paintings, proving their continued popularity.
|Rank||Artist||Title||Size||Medium||Year||Price (KRW)||Auction house||Date|
|1||Kim WhanKi||Tranquillity 5-IV-73 #310||261☓205cm||Oil on cotton||1973||6,550,000,000||K Auction||2017.04.12|
|2||Kim WhanKi||18‒II‒72 #221||48.5☓145.1cm||Oil on cotton||1972||2,167,650,000||Seoul Auction Hong Kong||2017.03.24|
|3||Kim WhanKi||4−Ⅵ−74 #334||120.6☓86.0cm||Oil on cotton||1974||1974||Seoul Auction Hong Kong||2017.05.28|
|4||Lee Ufan||With Winds||161.5☓227cm||Oil and mineral pigment on canvas||1990||1,661,865,000||Seoul Auction Hong Kong||2017.03.24|
|5||Kim WhanKi||19-V-69 #57||176☓125cm||Oil on canvas||1969||1,020,000,000||K Auction||2017.02.22|
|6||Chun KyungJa||With Van Gogh||40.5☓31.6cm||Color on paper||1996||820,000,000||Seoul Auction||2017.03.07|
|7||Blue & White Porcelain Bottle Pitcher||17.3☓16☓16(h)cm||Porcelain||JoSeon Period||730,000,000||Seoul Auction||2017.04.26|
|8||Chang UcChin||Jar||45.1☓37.7cm||Oil on canvas||1949||700,000,000||Seoul Auction||2017.03.07|
|9||Chun KyungJa||Sister Gillye||46☓34cm||Color on paper||1982||700,000,000||K Auction||2017.06.14|
|10||Paik Namjune||Stag||56☓111☓102(h)cm||mixed media, 4TV monitors||1996||660,468,000||Seoul Auction Hong Kong||2017.05.28|
|11||Lee Ufan||From Line||90.5☓72.5cm||Oil and mineral pigment on canvas||1977||574,320,000||Seoul Auction Hong Kong||2017.05.28|
|12||Kim WhanKi||Untitled||90☓63cm||Oil on canvas||1966||560,000,000||Seoul Auction||2017.06.28|
|13||Lee JoongSeop||Father Playing with Two Sons||31☓48.5cm||Oil on paper||1952-53||550,000,000||Seoul Auction||2017.06.28|
|14||Kim Sou||Le Ciel S'écroule||142☓245cm||Mixed media on canvas||1989||545,604,000||Seoul Auction Hong Kong||2017.05.28|
|15||Park SeoBo||Ecriture No.4-82||145.5☓112.1cm||Pencil and oil on hemp cloth||1982||540,000,000||K Auction||2017.02.22|
|16||Scholar’s Utensils||363.8☓110.8cm(8ea)||Color on paper||540,000,000||Seoul Auction||2017.03.07|
|17||Chung SangHwa||Untitled 76-9-12||130.3☓97cm||Acrylic on canvas||1976||515,000,000||K Auction||2017.02.22|
|18||Kim WhanKi||Untitled||57.3☓91.5cm||Oil on paper||1973||500,000,000||Seoul Auction||2017.06.28|
|19||Park SeoBo||Ecriture No.214-85||75☓150cm||Pencil and oil on hemp cloth||1985||500,000,000||K Auction||2017.06.14|
|20||Chung SangHwa||Untitled 97-1-24||162.2☓130.3cm||Acrylic on canvas||1997||470,000,000||K Auction||2017.02.22|
Park Sang-hun / Reporter, Aju Business Daily