This year, the best value in Art in the Asia Pacific region was to be found in Japan. Several new auction houses set up in Tokyo and Osaka while Christie’s and Sotheby’s (Hong Kong) and buyers from Taipei and Korea were routinely trailing local auction houses, galleries and artist studios in search of new talent and works as new investors began entering the market.

Except for a few who may have invested in Chinese Contemporary Art, most Japanese were shy of the recent highs in China, and until quite recently hadn’t even invested in their own Art because of recent memories of their own ‘bubble’ in the late 80’s. Space has also been a factor contributing to buying patterns so the Japanese have traditionally bought small art works for tea-ceremony, such as ceramics, lacquer, scrolls and screens that could be rolled or folded, rather than large works as in the west and so generally small works are preferred.

It must be recognized that Japanese Fine Art is arguably second to none in quality and still available to buy in Japan, while in scare supply elsewhere in Asia and Japanese Contemporary Art, was quietly achieving ground taking off in the Art Market while the worlds’ focus was on China.

When the AUD dropped against the yen, a gain in value of about 30%, considerable compared with other international markets and this, coupled with more stringent requirements for exporting Japanese painting means that opportunities exist now that may not be available in the future so Japanese screens and art works C17th – C20th at Kazari represents exceptional buying.

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'Scratch and Dent'

A novel approach and opportunity to buy un-restored furniture at discounted prices - restore yourself or alternatively arrange and pay for one of our restorers to repair and polish your chosen piece for you. More...

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A Floating Life: Japanese prints - the collection of Dr Gary Hickey

Yoshitoshi Tsukioka(1839–92) Cooling off at Shijō (Shijō nōryō)
from the series One hundred phases of the moon(Tsuki hyakushi) 1885

Exhibition and Sale - ends November 15th

A Floating Life: the collection of Dr Gary Hickey

Dr Gary Hickey is currently Overseas Director of the International Ukiyo-e Society, Tokyo he was a Senior Curator of Asian Art at the NGA and more recently Lecturer in Asian Art Studies at the University of Melbourne.

ASIAN ART MARKET REPORT

July 2008

Auction News: World record for Japanese work of Art in New York.

An early Kamakura period (1190s) statue of a Dainichi Nyorai (66.1cm high) attributed to Unkei (d.1223), the great sculptor of the Kamakura period sold for over $14.3 million USD at Christies New York in March 2008 to a Japanese buyer.

In our own backyard a beautiful gilded statue of Amida Buddha c.1800, seated on a circular seated lotus base, measuring 40cm high made over $31,000 AUD at Mossgreen’s latest Oriental Art auction (lot 32), more than twice the upper estimate.

Inside information has it that all good Buddhist statuary is bringing huge prices everywhere including countries of origin. It seems the new world record for Japanese art is inspiring the market to generally pay more.

Of course the Chinese destroyed many Buddhist images during the cultural revolution with the sacking and destruction of Buddhist temples in Tibet in 1959 and after, making them rarer in that sphere. In Japan it has only been Buddhist temples rationalizing their collections that have made them available to the market, and of course in South East Asia, Thailand export of antiques is illegal. One would think that Buddhist images should realize these prices, it’s about time…

Robert Joyce
Kazari Director

Robert has 30 years experience dealing in the Asian art market.

View select Buddhist works and rare collectables here

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