Local auction companies are nervously readying their fall auctions amid continuing turmoil in Taiwan’s financial markets and fear that many works, as with recent auctions in London and New York, will remain unsold.
Art professionals generally agree that a work of art should not be sold at auction within five to 10 years of its creation.
Fully one-third of the works to be sold in the forthcoming auctions at Ravenel and Zhong Cheng (中誠) were completed in the past three years — a turnaround time, Lawrence Chuang (莊國琳) of Main Trend Gallery says, that makes appraising the art difficult and long-term valuation questionable.
“There isn’t enough time for the work to stably appreciate in value,” he said.
For those who don’t have a few million New Taiwan dollars to shell out on art, however, auction previews are an excellent chance to check out some of Asia’s finest contemporary artists before collectors and investors scoop them up for their private collections.
Ravenel’s two-day preview runs from Friday through Saturday with the auction on Sunday featuring 147 works of modern and contemporary paintings and sculptures from Taiwan, China, Japan and South Korea. The auction house is Taiwan’s most reputable.
Zhong Cheng’s preview takes place on Dec. 12 and Dec. 13, with the auction on Dec. 14. The 148 works up for grabs include paintings and sculptures by Chinese and Taiwanese artists.
The previews and auctions all take place at the Fubon Life (富邦人壽) Building.
WHAT: Autumn auctions
WHERE:Fubon Life Building (富邦人壽), B2, 108, Dunhua S Rd Sec 1, Taipei City (台北市敦化南路一段108號B2)
WHEN:Ravenel’s preview is on Friday and Saturday, and the auction is on Sunday; Zhong Cheng’s preview is on Dec. 12 and Dec.13, and the auction is on Dec. 14. The previews for both auctions are from 10am to 7pm, and the auctions are from 2:30pm to 7:30pm
ON THE NET: www.art106.com; en.ravenelart.com