In a special summer issue of Art+Auction, which will be published in installments on ARTINFO this month, we bring you the information you need to navigate the vast auction market. We’ve assembled the top 250 houses, along with some of their most notable sales, as well as insider takes from 50 CEOs and specialists on the past year and the changes ahead. Below you’ll find Q&As with auction house leaders based in Tokyo. To see other installments from the special issue, click here.
EST-OUEST AUCTIONS
Tokyo, Japan; Hong Kong, China
ESTABLISHED: 1984
SPECIALTIES: Japanese art and antiques, 19th-century decorative arts, postwar and contemporary art
CONTACT: est-ouest.co.jp, info@est-ouest.co.jp, +81 3 5791 3131
Takashi Seki, President
What was your most successful auction in the past year?
Our 2014 Autumn Sale Hong Kong, held on November 28 and 29, 2014, at the Renaissance Hong Kong Harbor View Hotel. Total gross sales for the two-day auction exceeded HKD28 million ($3.6 million).
Which lot was the most exciting or surprising?
Auguste Rodin’s bronze sculpture L’un des bourgeois de Calais: Pierre de Wissant, vêtu, grand modèle, which reached HKD7.74 million ($998,000) at the 2014 Autumn Sale.
Is there an artist, market, or medium you think is overlooked right now? Something you’d invest in?
Japanese antiques, especially traditional handcrafts, which have exquisite technique and aesthetic consciousness. We hope those antiques will be valuated properly in the international market.
How have online auctions changed the way you do business?
We just launched our online bidding this spring, so we’ll see how it goes.
What other trends do you see influencing the market?
Kodo, or “the way of fragrance.” It’s the art of appreciating Chinese and Japanese incense, which originated in ancient China. Due to the recent [development] of a wealthy class in China, agalloch wood and agarwood of high quality have set remarkable sales records in our recent auctions.
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MALLET JAPAN
Tokyo, Japan
ESTABLISHED: 2005
SPECIALTIES: Japanese fine art
CONTACT: mallet.co.jp, info@mallet.co.jp, +81 3 5635 1777
Tomoaki Takahashi, President
What was your most successful auction in the past year?
Our last auction [in July] was the most successful in the recent few years.
Which lot was the most exciting or surprising?
Lot 87: Atsuko Tanaka. It achieved a hammer price of Y120 million ($973,000), which was a new auction record for any painting by the artist.
Is there an artist, market, or medium you think is overlooked right now?Something you’d invest in?
There has been remarkable increase in the demand for Japanese postwar art, including Gutai, Art Informel, and Mono-ha. In this category, I believe further growth is anticipated.
How have online auctions changed the way you do business?
We have not yet adopted online bidding systems. We are thinking about using it in the near future.
What other trends do you see influencing the market?
The development of information networks, such as social networking sites, has enabled people to know what is happening now in the world. For example, a collector in Tokyo can tell how successful today’s exhibition in New York is. It has allowed the market to react even faster.
What part of your business saw the most growth in 2014?
Again, sales of Japanese postwar art, which had been underestimated for the past few decades until 2013, drastically rose.
Where would you like to take the company in the next several years?
I want Mallet to be even more accessible to people around the world and more reliable.
Do you have a collecting obsession? If so, what purchase are you most proud of?
Of course I do. One of my favorites is a painting by Karel Appel.
Have you ever wildly overpaid for something you bought yourself?
Yes, I have, sad to say. In fact, I often lose my mind when I am bidding.
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SBI ART AUCTION
Tokyo, Japan
ESTABLISHED: 2011
SPECIALTIES: Modern and contemporary art
CONTACT: sbiartauction.co.jp, artauction@sbigroup.co.jp, +81 3 3527 6692
Rei Kagami, Manager
What was your most successful auction in the past year?
The latest auction, on April 18, 2015, saw the best-ever sale in our history. We made Y411,734,500 ($3.5 million).
Which lot was the most exciting or surprising?
A painting by Kazuo Shiraga which was sold for Y110,400,000 ($927,000), about two and a half times the lower estimate.
Is there an artist, market, or medium you think is overlooked right now? Something you’d invest in?
There are many artists from the postwar period of the 1950s and 1960s. It’s only recently that overseas researchers and collectors have shed light on those artists, beginning from Gutai, Mono-ha, and High Red Center. And there are more artists outside those groups who produced marvelous works of art.
How have online auctions changed the way you do business?
We are about to start an online bidding service this summer. We’re hoping that we’ll be able to provide more speedy sales to sellers—that they can get [their] money quicker—and that we’ll be able to sell lower-priced works more effectively.
What other trends do you see influencing the market?
With a very weak yen, we are getting more inquiries from overseas clients. At the same time, Japanese clients are also getting stronger, backed up by a strong domestic economic climate.
What part of your business saw the most growth in 2014?
The auction business. We used to be more focused on private sales, but the auction sales figure surpassed [them].
Where would you like to take the company in the next several years?
We would like to cultivate more Japanese clients, both buyers and sellers. Also, we would like to do more curated special sales—for example, we’re planning a Music+Art sale this year.
What one thing do you wish more collectors knew?
The latest trends in the art scene, both domestic and international. In particular, I think it’s highly important for Japanese collectors to follow and support domestic artists.
Have you ever wildly overpaid for something you bought yourself?
What I mostly buy are young artists’ works that are priced fairly low. They’re not suitable for resale in the market, but I don’t think I’ve overpaid.