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THIS WEEK IN THE ART MARKET - FRIDAY 7TH FEBRUARY 2025
Art Market News
LIM TZE PENG, SINGAPORE’S OLDEST LIVING ARTIST AND NATIONAL TREASURE, DIES AT 103
Singapore’s oldest living artist Lim Tze Peng has passed away at 103 this week on February 3. Currently Lim has an exhibition at the National Gallery, along with three recent exhibitions in private galleries. Lim has been a pioneering figure in the arts for many years, with Dr. Eugene Tan, chief executive and director of NGS, sharing that the gallery was deeply saddened by the passing of “a visionary whose unwavering dedication to his craft and passion for Singapore’s heritage have shaped generations of artists and art lovers.” It is estimated that Lim has made more than 20,000 works across his lifetime, best known for his Chinese ink pieces depicting old Chinatown and the Singapore River. Lim spent much of his life as a full-time educator, teaching at Sin Min School in 1949 and eventually becoming principal from 1951 to 1981. Lim only began to pursue his dream of being an artist following his retirement, but he has since become an incredibly prominent artist, receiving the Cultural Medallion in 2003. Considered a National Treasure, many prominent figures have shared tributes following his passing, from political figures to curators and gallerists. The wake was held at The Garden of Remembrance at 920 Old Choa Chu Kang Road earlier this week.
Lim Tze Peng in his house and studio in October 2024
DESIGNER HANDBAGS AND DAMIEN HIRST: SOTHEBY’S ‘CASTS WIDE NET’ FOR INAUGURAL SAUDI ARABIA AUCTION
Sotheby’s is holding the first major auction in Saudi Arabia next week, an event that falls in line with the larger Saudi Vision 2030 that is aiming to diversify the Saudi economy and increase tourism. Titled Origins, the auction is offering a range of lots from art to luxury good and sports memorabilia. Ashkan Baghestani, a Sotheby’s Head of Sale for fine art, has said that this diversity is Sotheby’s strategy to cast a wide net and capture buyers’ interest at different price points, bringing in people from different age groups and geographies. Highlights of the sale include works by René Magritte and Damien Hirst, alongside top lots from the region such as Syrian artist Louay Kayyali’s Then What?? (1965). Two Fernando Botero pieces will also be included, titled Society Woman (2003) and Man on a Horse (2010). In 2023, Saudi Arabia saw legal reforms like the civil transactional law (CTL) which has provided more commercial certainty to transactions thus positively benefitting the sale of art. However, it is noted that the Sotheby’s sale will be held in accordance to English law, which is not an uncommon practice for global companies operating in Saudi Arabia. The auction will be held in Diriyah on February 8.
Fernando Botero (b. 1932), Society Woman, 2003
JULIE MEHRETU: FEMENINE IN NINE, PART 6, 2023
American Friends of Zeitz Museum of Contemporary Art Africa (MOCAA) has announced the donation of Julie Mehretu’s Femenine in nine, part 6 (2023) by philanthropists and art collectors Dr. Anita Blanchard and Mr. Martin Nesbitt. The piece is one of nine canvases, the donation facilitated by White Cube Gallery. This past year saw a number of prominent events and exhibitions of Mehretu’s works, from the debut of her designs at the Centre Pompidou to Ensemble, the artist’s largest European exhibition to date. Currently, Mehretu’s work has also reached the highest sale price for an African-born artist. In addition, as an early supporter of Zeitz MOCAA, Mehretu is a founding member of the museum’s Global Council, which advocates for the directorial and curatorial vision of Executive Director and Chief Curator Koyo Kouoh and her team. Kouoh has stated that, “the importance of an African museum originating critical dialogue from and about the continent cannot be underestimated. With groundbreaking contributions such as this major gift by Anita and Martin and the support of thought leaders like Julie, we are rewriting and recontextualizing an art canon of our own.”
Julie Mehretu (b. 1970), Femenine in nine, part 6, 2023
GOYA TO IMPRESSIONISM. MASTERPIECES FROM THE OSKAR REINHART COLLECTION
The Courtauld Gallery is opening Goya to Impressionism. Masterpieces from the Oskar Reinhart Collection next week, featuring a selection of Impressionist and Post-Impressionist works. The exhibition marks the first time the Oskar Reinhart Collection ‘Am Römerholz’ will be shown outside of Winterthur, Switzerland. Showcasing works by Goya, Monet, Renoir, Van Gogh, Picasso, and Cezanne, highlights of the exhibition include The Clown Cha-U-Kao (1895) by Henri de Toulouse-Lautrec and Édouard Manet’s Au Café (1878). Van Gogh’s A Ward in the Hospital at Arles (1889) and The Courtyard of the Hospital at Arles (1889) will also be on show, depicting the hospital where Van Gogh spent time in following the mutilation of his ear. Opening the show will be a number of works by artists who preceded the Impressionists, featuring works such as Francisco Goya’s Still Life with Three Salmon Steaks (c. 1808-12) and Théodore Géricault’s A Man Suffering from Delusions of Military Rank (c. 1819 -22). With regards to the collection itself, the Oskar Reinhart Collection ‘Am Römerholz’ was curated in the first half of the 20th century by Oskar Reinhart, whose family was associated with one of the world’s leading trading companies. The collection includes prominent works by old masters alongside a range of Impressionist art. The exhibition will run from 14 February – 26 May 2025 at the Courtauld Gallery.
Henri de Toulouse-Lautrec (b. 1864), The Clown Cha-U-Kao, 1895
AYESHA SINGH’S INDIA ART FAIR TENT COMMISSION REMEMBERS THE FORGOTTEN WOMEN OF INDIAN ARCHITECTURE
Ayesha Singh, a Delhi-based artist, has designed the tent façade for the 16th edition of India Art Fair (IAF), in collaboration with the art foundation Mash. For the fair, Singh is focusing on the metaphorical barrenness of India’s historical narrative by highlighting the gaps in the recording of women’s contributions to its architecture. The artist notes that many architects leave the rear side of the tent empty, which could be a reflection of the incomplete way in which a nation’s history is selectively perceived. Celebrated for large-scale sculptural installations, Singh’s practice focuses on the fragmenting and multiplying discourse around cities and their cultural heritage. Singh’s own practice will shine through the four tents, incorporating Singh’s signature use of sight lines and experimental use of perspective. The lines will slice and divide architectural photographs of overlooked monuments and buildings made by five women architects and patrons. This element of fragmentation is part of Singh’s aim to encourage viewers to consider the construction of the perspectives themselves. One of the women referenced is Empress Bega Begum, who commissioned and supervised the construction of Humayan’s Tomb, Delhi’s first garden tomb. The tomb, one of the first major monuments built by the Mughals in India, was completed in 1572 and inspired future Mughal architecture. In addition, the inclusion of Begum is significant as India’s National Council of Educational Research and Training (NCERT) removed sections of Mughal history from textbooks in 2023.
WARHOL, POLLOCK, AND OTHER AMERICAN SPACES’
The Museo Nacional Thyssen-Bornemisza has announced that it is presenting Warhol, Pollock, and other american spaces, curated by Estrella de Diego. It brings together works by Andy Warhol and Jackson Pollock, highlighting the connection between the artists and their interest in change, spatial issues and a fascination with large formats. Alongside these two artists, works will be shown by other artists considering similar issues in their practices. The ways in which Pollock and Warhol’s practices evolved while maintaining figuration is noted, the exhibition becoming autobiographical in its depiction of their careers. The exhibition also touches upon the ways in which the artists subverted the traditional role of space, instead using it as a place of concealment and changing the concept of the background and the figure. The exhibition will run from 21 October 2025 – 25 January 2026.
THE 1-54 ART FAIR HAS TURNED MARRAKECH INTO ONE OF AFRICA’S MOST IMPORTANT ART HUBS
1-54 Contemporary African Art Fair returns with its sixth edition, contributing to the ecosystem that has cemented Marrakech as one of Africa’s most important art hubs. Touria El Glaoui, founder of the fair, shared that, “the Moroccan art market is very strong. I’ve been saying that loud and clear from even before we started the Marrakech fair. Casablanca, Rabat, Tangiers, and Marrakech [each] have about five or six strong galleries.” Despite starting in London and expanding to New York, it has always been a goal to establish the event on the African continent. Since its launch, the fair has brought in an international audience and momentum continues to increase every year. This year one of the highlight pieces is a painting on paper titled Blank Stare (2021) by celebrated Ghanaian artist Amoako Boafo. The work was acquired by the Tate’s Africa Acquisitions Committee Catalyst Fund for the museum’s permanent collection. While no particular medium took centre stage, there was a focus on highlighting Moroccan artists, both artists based locally and internationally; works by artists like Fatiha Zemmouri, Malika Sqalli, and Mohamed Hamidi. In addition, the fair welcome two new countries to its roster with galleries from Kuwait and Japan.
Amoako Boafo (b. 1984), Blank Stare, 2021
Jordan Tan holds an MA in History of Art from the prestigious Courtauld Institute of Art. With a passion for fine art and the art market, Jordan plays a key role at Art Works by researching and interpreting trends across the primary and secondary markets, delivering valuable insights and business intelligence for the fine art department.