IO – Works of art on canvas, or what is known as a painting, might be one of the attractive investment option especially for collectors of art. In Indonesia, there has been an increase in collectors of art objects. This stands out more due to the growing activity of exhibitions and auctions of artworks in major cities, such as the one in Kunstkring Paleis.
Located in Tugu Kunstkring Paleis which has often become one of the icons of art in Jakarta, hundreds of art works of fine art are on display for three days in a row. Approximately 168 works of art, fine art, which consists of paintings and sculptures auctioned by Sidharta Auctioneer.
Fine art is a term for works of art produced from the hands of famous artists. In Indonesia, many artists have their famous artworks exhibited in the international market. For example Basoeki Abdullah, Putu Sutawijaya, Affandi, Sudjojono Sindudarsono. The works of the maestros was prized in hundreds of million to billions of rupiah.
There are some paintings that have historical significance, such as“Mustang P-51 D Cocor Red” owned by Trubus Sudarsono. Owned by Leo Wattimena, who was an important figure in the Indonesian Air Force, his artwork portrays the significance of iconic vehicles during that era. Other works in this auction is “Brother Eddie”,a rare teen portrait by Prof. Dr. Edi Sedyawati, Director General of Culture of Indonesia (1993-1999).
There are things that are a fusion of pieces (combination / fusion) by the late Abas Alibasjah. Although Alibasjah was famous for his oil painting, he seems to take advantage of traditional batik to express his abstract surealism. Other interesting works are abstract works by Gunarsa (1943-2017). In his work, Gunarsa incorporates elements of traditional Balinese culture into the abstract modernist painting.
In addition to works that have historical significance, there are also a number of works of art that represent the diversity of modern Indonesian art world. You will find pieces of the pioneers of modern abstract Indonesia Ahmad Sadali:“Black Background and Stems with traces of Gold”, “Lumps of Gold”, “Prayer For Parents” and “Composition Field of Gold”.There are also paintings owned by Popo Iskandar, with savory-expressive like “Rooster”, you will also find one of Sudarso’s works like “Women in Blue Kebaya“, one autographed portrait of a woman who goes into the auction.
Also, each piece of Soedibio’s work portraying the period, interest, and a different approach:“RiceFields” shows a rare work in which the artist depicts pretty realistic strokes, “Ancient Scripture” is a typical Indonesian decorative exploration of ancient tradition written as an art form, while “Shadow Puppet Gunungan” is its surrealistic decorative painting on the symbol of the Javanese mountains of the universe in Javanese wayang performances. And many other works of art from different genres, styles, and periods of Indonesian art are featured in the auction.
The price of the artwork is indeed difficult to predict. Painting is subjective, the price can be stagnant, rising, sometimes even low. Depending on the artist, their work, and commitment which are reflected in their paintings.
In addition, there is a consideration as to whether the painting captures a lot of interest, not oversupply, and it’s good? If so, the price of the painting could penetrates through the psychological level. For example, the price of the painting offered at USD 12 million, but it could be when auctioned, the price reaches USD 52 million, due to huge interests.
The art work of fine art is usually more popular with professional art collectors and they understand the value of art in an artwork. Buyers usually come from the entrepreneurs, professionals, business owners, and collectors of paintings from Jakarta, Bali, Surabaya, even from abroad. Collecting art objects not only as a form of financial investment, but also to get some historical insight through beauty. (raihan)