Editor’s Note
This article highlights the growing trend of luxury items, such as high-end watches and jewelry, becoming prominent fixtures in South Korea’s art auction market, with major houses dedicating specialized sales to these collectibles.
Seoul Auction’s ‘Cartier’ vs. K Auction’s ‘Louis Vuitton’Cartier,
[Seoul=Newsis] Reporter Park Hyun-joo, Art Specialist = Luxury items such as watches are expanding their presence in the art auction market. Seoul Auction and K Auction are naturally conducting high-end luxury auctions for items like jewelry alongside modern and contemporary artworks.
Seoul Auction’s November planned auction will be held on the 19th at 4 PM at the Seoul Auction Gangnam Center, featuring a total of 91 lots with a low total estimated value of approximately 8.3 billion KRW.
Alongside modern and contemporary artworks by artists such as Kim Whan-ki, Yoshitomo Nara, Ryuzaburo Umehara, and Park Seo-bo, handbags and watches sourced through the comprehensive luxury care service ‘The Concierge’ will also be auctioned.
Among the four works by Kim Whan-ki, the full-dot painting ’18-Ⅱ-72 #221′ (estimated at 2.4 to 4 billion KRW) draws attention. Created in 1972, when his full-dot paintings entered their mature period, this work features a bold canvas where the width (145.3cm) is about three times the height (48.1cm), using turquoise as the main color for a rare composition. Notably, two large fan-shaped forms intersect, giving the overall screen a unified feel while varying the proportion, direction, and coloring order of the patterns to create a diverse impression.
Additionally, a total of 8 luxury items, including handbags and watches, are up for auction. Particularly notable is Cartier’s ‘Crash’ watch, known for its high rarity value as only a limited quantity is produced per model, offered at an estimated 130 to 250 million KRW. It is highly valued as the model released with the auctioned piece is the only one among historical designs to be released with a metal bracelet.
The works can be viewed for free at the Seoul Auction Gangnam Center until the auction day, the 19th.
K Auction’s November auction will be held on the 20th at 4 PM at the K Auction headquarters in Sinsa-dong, Gangnam-gu, Seoul. A total of 133 lots, worth approximately 9.4 billion KRW, will be auctioned. Highlighting five works by Kim Chang-yeol, the auction catalog cover features his 200-size 1976 work ‘Waterdrop’ (estimated at 1 to 1.5 billion KRW).
Kim Chang-yeol’s large 200-size work ‘Waterdrop’ features water droplets from the 1970s that shine much more brilliantly than those in works from other periods. The water droplets, which are extremely realistic yet take on a form that cannot exist in reality, are the result of long-term, repetitive, and meticulous observation, offering a glimpse into the artist’s patience and immersion.
Seven works by blue-chip artist Lee Ufan are featured, including two 100-size Dialogue series works (estimated at 1.2 to 1.4 billion KRW), ‘Dialogue’ (1.05 to 1.4 billion KRW), ‘Correspondence’ (320 to 550 million KRW), and ‘From the Wind’ (160 to 300 million KRW).
This auction also features jewelry and handbags from luxury brands such as Bulgari, Chanel, and Cartier. It showcases Hermès’s Birkin bag (estimated at 29 million KRW), as well as bags from Louis Vuitton and Christian Dior created through collaborations with artists.
A preview where the auction works can be viewed in person will be held at the K Auction exhibition hall from the 9th until the auction day on the 20th. To participate in the auction, one must register as a K Auction member (free) and then bid via written, on-site, telephone, or online live bidding.