Editor’s Note
This report details the successful inaugural auction by Tozai New Art, which saw a vibrant and competitive sale across a diverse range of art and antiquities.
The inaugural commemorative public auction held by Tozai New Art concluded on November 8th (Saturday). This landmark first sale featured a diverse collection of works spanning from modern to contemporary art, as well as East Asian antiquities, Judaica, and Western paintings and decorative arts. The venue was filled with numerous collectors and art professionals from Japan and abroad, resulting in a series of heated bidding wars that transcended genres and created a vibrant sale.
A total of 367 lots were offered. Against a total pre-sale estimate of 300 to 420 million yen, the final hammer price (including buyer’s premium) reached approximately 940 million yen, significantly exceeding initial expectations and resulting in a highly active sale.
Among these, we introduce the highlight works that particularly captured the attention of the auction room.
Lot 149: Katsushika Hokusai, Hand-painted Ukiyo-e “Beauty in the Snow with Inscription by Shokusanjin”. Sold for a world record 621 million yen.
Artist: Katsushika Hokusai
Title: Beauty in the Snow with Inscription by Shokusanjin
Technique: Hanging scroll, color on silk
Production Year: Bunka 10 – Bunsei 2 (1813-1819)
Size: 98.3 × 34.3 cm
Exhibition: “Hokusai Exhibition,” Tokyo National Museum, 2005
Provenance: Former collection of Masayuki Fukushima, Private collection, Japan
Other: Accompanied by a certificate of Important Art Object designation.
The work sold for 621 million yen, far exceeding its pre-sale estimate of 400-600 million yen.
The piece is “Beauty in the Snow,” which was also designated as an Important Art Object before the war. On a nearly one-meter-tall canvas, it depicts a woman, believed to be a courtesan (oiran), standing gracefully in a snowy landscape. The impressive use of indigo blue marks it as a masterpiece from Hokusai’s mature period during the Bunka/Bunsei era (1813-1819).
Bidding started from 40 million yen, with numerous bids received via phone and written entries, heating up the room immediately after the auction began. After a tense duel that surpassed 300 million yen, the competition developed into a fierce bidding war among bidders in the room. In the final moments, a collector participating in the room secured the winning bid.
Lot 011: Yayoi Kusama, “Infinity Nets”. Hammer Price: 43.7 million yen.
Works by the pioneering post-war artist Yayoi Kusama were another focus of this auction. Starting from a modest estimate of 1-1.5 million yen, consecutive bids significantly raised the price, ultimately selling for 43.7 million yen—38 times the low estimate. This outcome symbolizes the re-evaluation and rising market value for Kusama’s works.
Lot 025: Takashi Murakami, “FLOWERS (1999)”. Hammer Price: 69 million yen.
From Takashi Murakami, an artist with high global popularity, a precious original painting from his 1999 “FLOWERS” series was offered. Its vivid colors and unique compositional beauty electrified the auction room, selling for 69 million yen. This result demonstrated strong interest from international collectors and reaffirmed the solid market value of Murakami’s works.
Lot 111: Bernard Buffet, “Le Petit Clown”. Hammer Price: 391 million yen.
A piece from the representative “Clown” series by Bernard Buffet, a giant of French figurative painting, also achieved a high hammer price. This result reflects Buffet’s enduring strong popularity internationally. The impressive depiction, characterized by meticulous linework and a sense of solitude, attracted multiple bidders in the room, culminating in a final sale price of 391 million yen.
*Hammer prices include buyer’s premium.
