Yesterday, December 7, 2023, at 2:30 pm (French time), at Maison R&C’s “Modern & Provencal Paintings” auction, there were two Vietnamese works expected. These two paintings, one by Lê Phổ was auctioned in July 2023 and one by Nguyễn Khang.
LÊ PHỔ (1907-2001)
“Jeune Vietnamienne alanguie”
1932
Oil in canvas
110,5×170,5cm.
Provenance: Brought back from Indochina by the current owner’s father.
A certificate of ownership prepared by Mr. Alain Lee Kim, son of Lê Phổ, will be given to the buyer.
Estimate: 150,000-200,000 EUR
Sold on July 7, 2023: 630,000 EUR + fees = more than 21 billion VND
Sold on December 7, 2023: 480,000 EUR + fees = more than 16 billion VND
NGUYỄN KHANG (1912-1989)
“Two ladies wearing áo dài”
1943
Lacquer
58×49 cm
Estimate: 8,000-10,000 EUR
Sold for: 85,000 EUR + fees = nearly 3 billion VND
Yesterday’s selling price accurately reflected the purchasing power of the market. As for why Lê Phổ’s Jeune Vietnamienne alanguie was just sold for 21 billion VND in the July auction, but was auctioned for only 16 billion VND in the December auction, it reflects the current state of the market.
Some individuals, knowing that the painting is precious, rare, and valuable, win the auction but cannot pay for it, especially with works of great value, so they have to give up. This happens so often that auction houses have issued warnings about this. But in reality, this must still be accepted between the parties by some arrangement or compromise.
2023 is a rather quiet year for the auction market but is a good opportunity for dealers with great capital and proper collectors.
The market always has two parallel sides that complement each other. In the game there is war and vice versa.
Written by VIET ART VIEW
Copyrights belong to Viet Art View
