Korean movement Dansaekhwa recognized on the international market
Art Market | Historical Korean artists engaged in the Dansaekhwa movement – Korean monochrome painting – have only recently provoked the interest of the international market. The result is an explosion in auction prices, the involvement of influential galleries and a revision of international art history.
The Dansaekhwa movement shares the esthetic of Western avant-gardes of the 60’s and 70’s like Minimalism but with specific ties to Korean culture in regards to the role of the body and mind, as well as in the use of repetition and meditation.
In terms of auction house sales, 2015 is a landmark year for Park Seo-Bo. Two works from a similar period and of comparable dimensions from the series “Ecriture” sell : “Ecriture No.5878” in December 2014 for $55,432, and “Ecriture No.2-80-81” in November 2015 for $838,633. The paintings “Ecriture No. 9-75” and “Ecriture No. 65-75” sell in April and November 2015 for $598,539 and $1,212,793 respectively at Sotheby’s HK and Christie’s HK – the first million dollar sale of his career.
Artprice notes the dynamism of Korean monochrome masters on the market : Whan-Ki Kim sells $21.5M at auction in 2015, compared to $10.7M in 2014, while Seo-Bo Park sells $12M in 2015 against $1.2M in 2014. Park outsells his 2014 record price of $227.500 no less than 14 times the following year. It should be noted that these sales are largely the affair of houses with branches in Hong Kong and South Korea : 93% of Whan-Ki Kim’s sales and 95% for Seo-Bo Park. Lee Ufan is the exception, with an important part of his sales in France (40%) and New York (19%).
This marketplace data should be linked to an intense period of visibility for Dansaekhwa artists at influential international galleries like London’s White Cube, exhibiting Park Seo-Bo’s “Ecriture 1967-1981” (January – March 2016), and Galerie Perrotin showing the work of Chung Chang-Sup in their Parisian and Manhattan venues. The exhibition “Dansaekhwa and Minimalism” at Blum & Poe’s Los Angeles space (January – March 2016) draws historical comparisons between the Korean and American movements. Lastly, numerous institutional exhibitions like “When Process Becomes Form : Dansaekhwa and Korean abstraction in the 1970’s and 1980’s” at the Boghossian Foundation in Brussels (February – April 2016) and “Seoul-Paris-Seoul” at the Cernuschi Museum in Paris are contributing to a rewriting of international art history, integrating the role of Korean modernity.
Publié le 24/03/2016
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