Editor’s Note
This article previews a major upcoming art auction in Seoul, highlighting the significant number of works on offer and the substantial total valuation. It also touches on the broader economic context, suggesting potential investment implications for collectors.
Seoul Auction, the largest art auction house in South Korea, will hold its ‘180th Auction’ on the 22nd at the Gangnam Center in Sinsa-dong, Gangnam-gu. A total of 129 works will be offered, with a total low estimate reaching approximately 6.3 billion won.
This event is drawing attention as an opportunity for art collectors and enthusiasts to invest. Furthermore, with the Bank of Korea’s recent interest rate cut signaling a pivot in monetary policy, the need for new art investment strategies is being raised.
Chun Kyung-ja’s ‘Portrait of a Woman’ (1977): A representative work from her ‘Beauty’ series, this piece realistically captures a woman’s face with an exotic atmosphere. Loneliness and solitude are depicted alongside brilliant flowers and butterflies on the woman’s head, simultaneously evoking ’emotion’ and ‘beauty’. Bidding for this work starts at 450 million won.
Nam June Paik’s ‘Robot Pierre’ (1994): A large-scale media artwork featuring a robot posed as if walking while holding a lamp. Videos play from the face and chest of the robot structure, symbolically showing how technology replaces modern human vision and emotion. The estimated price is between 470 million and 1.5 billion won.
Lee Jung-seop’s ‘Children and String’: A paper work sent by the artist to his son Tae-hyun. It depicts five children playing with a string, capturing innocent childhood through color aesthetics. The estimated price is between 1.5 billion and 2.5 billion won.
Lee Bae’s Charcoal Works: Two works utilizing traditional charcoal material are offered. ‘From Fire-49-1’ (estimate: 3.7-5 billion won) and ‘White Line-6g’ (estimate: 900 million-1.5 billion won) explore Korean tradition and identity in contemporary art.
A 10-panel album of erotic paintings (Chunhwachaep) from the Joseon Dynasty is a standout in the antique auction. Its detailed figures and meticulous coloring are notable.
Reflecting the growth trend in luxury consumption culture, 13 luxury items including jewelry, watches, and handbags are also up for auction. Notable pieces include a Rolex ‘Daytona’ watch, a Hermès ‘Birkin’ bag, and a Patek Philippe watch, all authenticated by the luxury care service ‘The Conciergist’.
The preview for all auction items is open to the public free of charge at Seoul Auction’s Gangnam Center until the auction day on the 22nd.
