(Source: SBI Art Auction)
The 60th SBI Art Auction｜Live Stream Auction held on Friday, 9/15/2023 and Saturday, 9/16/2023.
The total bid amount was 198,633,750 yen, and the winning bid ratio was 85.7%.
Although prices were relatively low due to the fact that the auction was held online, young artists such as Nanae Mitobe and Yukimasa Ida were prominent.
Yasushi Iguchi, Representative of TRiCERA, Inc.
CEO of TRiCERA Corporation, which provides intermediary services for the sale and purchase of contemporary art EC and secondary works, explains the results of the SBI auction, which will determine the direction of the art market in the future.
Explanation of the auction results from five perspectives
In this article, I would like to explain the most noteworthy pieces among the auction results from the following five perspectives.
1) Artists whose bids greatly exceeded the expected bids
2) Artists who won the top 3 bids (original artworks)
3 ) Artists whose bids exceeded the top 3 bids ( prints )
(4) Artists handled by TRiCERA
(5) Notable artists who just debuted in the secondary market
(1) Artists whose bids greatly exceeded the forecasted bids
First, we would like to introduce the artists whose bids exceeded our expectations.
Nick Walker "The Morning After Brooklyn" Sold for ¥805,000
Nick Walker, "The Morning After Brooklyn," 2016, 53.8 × 70.8 cm, screenprint, ED.500, LOT093.
Estimate ¥50,000 - 100,000
Nick Walker (1969-) was born in England.
A pioneer of street art, he created a style that combines spray cans and stencils, and is said to have influenced Banksy.
At this auction, it sold for ¥805,000, more than eight times the expected maximum bid.
In September 2022, "Santa Monica," a print depicting the same landscape, sold for 68,750 USD (equivalent to about 10,178,472 yen) at an auction held in Dallas, USA,
The price increase of works with the same motif is noteworthy.
Sold price of "Jacqueline Lee Bouvier Kennedy" by Nanae Mitobe: 747,500Yen
MIZUTOBE Nanae "Jacqueline Lee Bouvier Kennedy", 2022, 78.5 x 54.2 cm, acrylic on paper, LOT0251.
Estimate ¥100,000 - 150,000
Nanae Mitobe works with her hands in oil paint to create thickly painted portraits.
She has received the VOCA Encouragement Award in 2020, will hold a solo exhibition at Tokyo Opera City in 2022, and has been selected for the CD jacket cover of Masaki Sugata's "Last Scene".
This is the second time for the artist to sell his work at the SBI Auction. The bid was approximately five times the expected amount, at 747,500 yen.
We look forward to his future activities in the secondary market.
(Compiled by the editorial department from auction data, SBI auction results only)
Ben Mori "Azure Dragon" Sold for ¥2,990,000
Ben Mori "Azure Dragon", 2022, 40.0 x 180.0 cm, acrylic, spray on panel, LOT0282.
Estimate ¥500,000 - 800,000
Ben Mori is also a fashion designer.
This time, his highest bid of ¥2,990,000 was more than four times higher than the highest bid.
The auction results for the four items were all higher than the expected bids.
Expectations are high for future price increases and growth.
(Compiled by the editorial department based on auction data)
Yukimasa Ida, "Dior Lady Art 6 with Yukimasa Ida" Sold for ¥1,897,500
Yukimasa Ida, "Dior Lady Art 6 with Yukimasa Ida", 2022, bag, original case, 33.0 x 25.0 x 12.5 cm, Lot 247.
Estimate ¥350,000 - 550,000
Kosho Ida, who continues to create works based on the theme of "once in a lifetime", is already an internationally acclaimed artist.
In 2021, his oil painting "King of Rock" (194 x 162 cm) sold at Sotheby's Hong Kong for HKD 2,772,000 (equivalent to ¥52,532,061), more than triple the highest estimate,
Since then, it has made rapid progress in the secondary market.
In 2022, this work, produced in collaboration with Dior, also sold for ¥1,897,500, about three times the highest expected bid.
(2) Top 3 Sold Artists (Original Paintings)
Next, we will introduce the works by Japanese artists with the highest expected bids in this auction.
No.1 KYNE "Untitled" Sold for ¥13,225,000
KYNE "Untitled", 2020, 91.0 x 72.7 cm, acrylic on canvas, Lot 256.
Estimate ¥6,000,000 - 9,000,000
KYNE is one of the leaders of the recent boom in beauty paintings.
The highest estimate for this auction was ¥6,000,000-¥9,000,000, and it was considered to be the most significant work.
As a result, it sold for ¥13,225,000.
This is slightly higher than the average bid of 70,429USD (equivalent to 10,437,226Yen) for a KYNE original in 2023.
Note that the average bid for a KYNE original in 2022 was 67,092.5 USD (equivalent to ¥9,938,815), so prices for KYNE original artworks on the secondary market are on an upward trend from last year.
Based on the current prices, there is a possibility that prices will increase more during 2023.
(Compiled by editorial staff from auction data)
No. 2 Andy Denzler "Woman in Burnt Sienna" Sold at auction for ¥12,650,000
Andy Denzler "Woman in Burnt Sienna", 2022, 140.0 x 120.0 cm, oil on canvas, lot 323.
Estimate ¥3,500,000 - 5,500,000
Andy Denzler (1965-) is a Swiss painter whose style combines Abstract Expressionism and Photorealism.
This time, it sold for ¥12,650,000, nearly double the highest estimate.
With this result, the median bid for Denzler's work (original) in 2023 was ¥6,905,469.
This is an increase of ¥3,000,000 from the previous year's median bid of ¥3,716,046.
Due to the small number of transactions in Japan, we may see further price increases in the domestic market.
No. 3 KYNE "Untitled" Sold at ¥3,910,000
KYNE "Untitled", 2015, 41.0 × 24.0 cm, acrylic on panel, Lot 257.
Estimate ¥1,800,000 - ¥2,800,000
The third highest bidder for an original work sold at this auction was also KYNE, as was the first place bidder.
The highest bid was about ³,000,000 higher than the expected amount.
Top 3 Sold Artists (Prints)
Artists whose works are popular in the secondary market and whose one-of-a-kind originals are difficult to obtain, the prices of their prints soar as well.
Therefore, the high amount of successful bids in the prints section is one of the leading indicators of the artist's great demand.
Therefore, in this section, we introduce artists with the top 3 highest bids in the printmaking category.
No.1 Yayoi Kusama "FLOWERS A (Kusama 349)" Sold at ¥6,325,000
Yayoi Kusama "FLOWERS A (Kusama 349)", 2005, 51.0 x 61.0 cm, silkscreen, lamé, LOT 390.
Estimate ¥2,000,000 - 3,000,000
Yayoi Kusama has been actively auctioned since 1998.
This time, Yayoi Kusama's work sold for 6,325,000 yen, almost twice the highest estimate.
The average price of Yayoi Kusama's prints sold in 2023 was ¥3,929,457.
2nd Yayoi Kusama "Mushrooms (Kusama 207)" Sold for ¥3,910,000
Yayoi Kusama "Mushrooms (Kusama 207)", 2005, 22.1 x 29.5 cm, silkscreen, lamé, LOT 390.
Estimate 1,800,000 - 2,800,000
The second place in the print category also went to Yayoi Kusama, with a total of ¥3,910,000.
No. 3 Rokkaku Ayako "Untitled 1" Sold for ¥3,335,000
Ayako Rokkaku "Untitled 1", 2020, 52.5 x 33.0 cm, woodcut, ED, 120 LOT, 330.
Estimate 1,200,000 - 1,800,000
Ayako Rokkaku, known for her colorful works of young girls, is an artist so highly regarded by the contemporary art market that she was ranked 78th in the 2022 World Artists Sales Ranking.
This work, a collaboration with the Adachi Printmaking Institute, sold for ¥3,335,000.
The work has been sold several times at other auctions, with the highest price paid for a work being ¥4,500,000 in May 2022.
The current result is a slight decrease from the highest price, but a slight recovery from the ¥2,600,000 achieved in December 2022, indicating that the art market is recovering.
The following article also provides more details on the career and auction performance of Ayako Rokkaku.
If you would like to know more about Rokkaku Ayako's representative works and price trends, please take a look at the following article.
4) Artists currently handled by TRiCERA
This section features the successful bids of artists whose works are currently available on TRiCERA's Resale.
Azusa Nozawa "No Title" Sold for ¥184,000
Azusa Nozawa "No Title", 2021, 18.0 × 18.0 cm, acrylic on canvas, LOT, 230.
Estimate ¥50,000 - 100,000
Azusa Nozawa's style is characterized by the layered outlines of a young girl who still looks innocent.
This is the fourth work to be auctioned, all of which have exceeded the highest estimate.
With her works exhibited and sold on the same day at Art Taipei in 2020 and 2021, and her popularity in Asia, future growth is expected.
TRiCERA Resale is currently exhibiting Azusa Nozawa's print work "portrait no.10_g/hand".
If you are looking for an up-and-coming artist, please click the link below to view her works.
Masato Yamaguchi "Stay with you *SQWH1" Sold Price: ³,069,500
Masato Yamaguchi "Stay with you *SQWH1", 2021, 80.3 x 80.3 cm, acrylic on canvas, LOT 276.
Estimate¥500,000 - 800,000
Masato Yamaguchi is internationally known as a painter of the two-dimensional school.
His signature model, a girl taking a selfie, sold for 1,069,500 yen, about 200,000 yen above the highest bidder's estimate.
In April 2023, a similarly sized original "TRUE / FALSE *TF2" sold for ¥885,000, indicating a slight upward trend.
TRiCERA Resale is also offering a silkscreen work with a girl motif in the 400,000-yen range.
(5) A remarkable artist who has just debuted in the secondary market
Here we introduce some notable young artists who have only a few auctions under their belts, but have achieved results that exceeded the expected bids.
SAYA OKUBO "Conductor" Sold at auction for ¥414,000
Saya Okubo "Conductor", 2021, 53.0 x 45.5 cm, oil and acrylic on canvas, LOT 228.
Estimate¥150,000 - 250,000
Saya Okubo, born in 1992, is an artist who coexists contours and undulations of statues on canvas, which attracted attention when she won the Masami Shiraishi Prize at the 4th CAF Awards in 2017.
Including this time, he has six auction results.
The highest bid of ¥609,500 was recorded on 1/28/2023.
This time, it sold for ¥414,000, about 1.5 times the highest bid der's estimate. The price was higher than the previous and previous auctions, and the future direction of the price is attracting attention.
(Compiled by the editorial department from auction data)
Why such a high price? You may be wondering.
So far, we have explained the SBI art auction results for September 2023.
KYNE, a leading figure in the current contemporary art scene in Japan, achieved over 13,000,000 yen, and young artists to watch for in the future appeared one after another, such as Nanae Mitobe, whose bid was over five times higher than the expected price.
Nevertheless, some people still wondered, "How did this work sell at such a high price? "Which works are likely to be sold at higher prices in the future?" and "Which works are likely to fetch higher prices in the future?
The following link explains the mechanism that determines the price of contemporary art.
We also offer a gift service of materials filled with essential knowledge for successful contemporary art investment, so please check the details.
TRiCERA Resale Service to support the buying and selling of artworks
TRiCERA ART offers a resale service that allows collectors to sell or purchase artwork with confidence.
For those who wish to purchase artwork
TRiCERA offers resale works by popular artists.
Among them are works by Azusa Nozawa and Masato Yamaguchi, who showed remarkable results this time.
Please click on the links below to view the works currently on display.
In addition, if you contact us via our official LINE, we will give you priority notification when your desired work goes on sale.
After registering as a friend, tap the "Looking for artists with investment value" button.
Our curator will ask you about the artist and artwork you are interested in.
Please feel free to contact us via LINE to check the actual artworks at our gallery (Roppongi/Nishiazabu area) or to discuss art investment.
For those who wish to sell their artwork
At TRiCERA ART, our professional staff examines the value of your artwork and conducts sales procedures at a fair price.
The price assessment is free of charge.
In addition, a private sale function is available for completely private transactions.
For details of the sale service, please refer to the following page.
We also accept price appraisals via our official LINE.
After registering as a friend, please tap "Request for Appraisal" and our professional staff will ask you about the name of the work, artist, size, etc., and will quickly conduct the appraisal.
