Singapore’s Straits Times covers the local auction surprises:
MASTERPIECE Auction House’s first auction of the year at Sheraton Towers on Sunday was a mostly quiet affair until Indonesian master Ahmad Sadali’s 1965 mixed media on canvas work showed up on the block. Titled Abstraksi Pintu Surga, the abstract work by the late artist was priced at $40,000 but in 10 minutes, a three-way bid drove the hammer price up to $230,000. […] Mr Benny Raharjo, 49, president of the auction house, said: ‘I did not expect Sadali’s work to sell for $230,000. I thought it would go up to $150,000. Achieving this price is a good achievement for us. It shows that confidence in the art market is returning slowly.’
Art Market Picking Up (Straits Times)
