UAAAUCTION2012AW

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MODERN Â & Â CONTEMPORARY Â ART

United  Asian  Auctioneers AUCTION

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3:30pm    Saturday    24th  November  2012   Mezzanine  Floor,  Renaissance  Harbour  View  Hotel  1  Harbour  Road,  Wanchai,  Hong  Kong

Îą Ë‚ Ë€ ܹ๨Ę’ ÉŽĘ&#x; ࣂ Ę— ŕ —ŕ˛‹áœŞË ŕ˛‹áœŞŕźž ŕť” ŕş’á—ŤŕŁľŕąĄŕ§ˆÖ™áƒ‡á…˘

Â

དࢄ

VIEWING Thursday  Friday  Saturday Â

10:00am  -­  8:00pm  22nd  November  2012     10:00am  -­  8:00pm  23rd  November  2012   10:00am  -­  12:00nn  24th  November  2012

Îą Ë‚ Ë€ ܹ๨Ě’ É?Ę&#x; ࣂ̳ϭયÉ? ࣂ̳ Îą Ë‚ Ë€ ܹ๨Ę„ É?Ę&#x; ࣂ̳ϭયÉ? ࣂ̳ Îą Ë‚ Ë€ ܹ๨Ę’ É?Ę&#x; ࣂ̳ϭɝĘ&#x; ࣂ̳

Mezzanine  Floor  &  Boardroom  8  at  Lower  Lobby  Renaissance  Harbour  View  Hotel  1  Harbour  Road,  Wanchai,  Hong  Kong

ŕ —ŕ˛‹áœŞË ŕ˛‹áœŞŕźž ŕť” ŕş’á—ŤŕŁľŕąĄŕ§ˆÖ™ áƒ‡á…˘ĘĽĐ“á„™ɣ਌ ŕť”ŕ¸œá˜ŞŰŠ

K AUCTION SEOUL PREVIEW

. $XFWLRQ á’šŕ¨?ŕ –á€?དࢄ

8th  -­  15th  November  2012

ι ˂ ˀϭ ˀ

Art  Tower  2F,  640-­6,  Sinsa-­dong  Gangnam-­gu,  Seoul,  Republic  of  Korea

ŕ –á€?Ě&#x;Ď?‍ਂڲ‏ณҳ‍ ݞ‏ á–š୺ɣࡨ á…˘

A|A|A|A TAIPEI SELECTED PREVIEW

A|A|A|A ̎˾དࢄ

8th  -­  11th  November  2012 Â

ι ˂ ˀϭ ˀ

Huashan  1914  l  Creative  Park  No.  1,  Section  1,  Bade  Road,   Zhongzheng  District  Taipei  City,  Taiwan  100

ŕ´œÉŹ ʟ௚ࡊਂ á ŁËľĚ&#x; ɝ̳ਂɄᄨŕź?Ț‍ Ý’â€Źŕť”

áš­â€ŤŮ´â€Źŕł”Éƒ United  Asian  Auctioneers á ‰ŕĽŽ  www.united-­aa.com Â


Service and Consultation

Auction Representative United Asian Auctioneers could assist you to bid in auctions worldwide and provide suggestions for selling your collections. As your commissioned representative, our service includes auctioning, trading, packaging, and shipping for your property. Art Agency United Asian Auctioneers conducts private art sales through each auction house. We also provide professional consultation upon art appraisal services, value management, and investment advice. Shipping and Insurance United Asian Auctioneers helps to deal with any insurance and tax related issue of your import or export of art. We also manage with international/domestic shipping and packaging for your artworks.

Payment The buyer should wire payment to the bank account specified by United Asian Auctioneers. Payment policy and details are described at the Transaction Agreement of this catalogue. We accept cash and check;; however, traveler’s check will not be accepted. For credit card, a 2.5% commission will be charged with a floor limit of HKD$150,000.

Currency The currency of United Asian Auctioneers will be calculated in Hong Kong Dollar. Should the payment be paid by other foreign currencies, we trade by the exchange rate of the payment date for the first 14 business days. Should the payment be paid after 14 business days and the currency is less than that of the bidding day, then we adopt the currency of the bidding day.

Collection All the items may be collected upon receipt of payments. If you need shipping arrangement, United Asian Auctioneers is pleased to make professional suggestions and provide appropriate shipping company to you.

Phone Bids Since the phone line service at the venue of auction is limited, please contact us 24 hours prior to the auction. Meanwhile, please fill in the absentee bid form attached to the catalogue to specify the property you intend to bid and send us by fax or email.

4

Written Bids You may use the bidding form attached to the catalogue to process your bid as well. To allow time to process, written bids should be delivered, by fax or email, at least 24 hours before the auction begins. We will confirm all bids received by phone. If you have not received our confirmation within one working day, please resubmit you bidding form or contact any auction house’s representative.

Examination of Property Prospective buyers are strongly advised to examine any property personally in which they are interested, before the auction takes place. Condition reports are usually available on request. Neither United Asian Auctioneers nor the seller provides any guarantee in relation to the nature of the property. The property is otherwise sold “AS IS.”


服務與諮詢

代理拍賣 【亞洲聯合拍賣會】可為客戶提供歐美及大陸等地其他拍賣公司之 相關建議.代為拍賣.運輸.包裝等業務。

電話投標 由於拍賣現場電話線路的限制,如您需要電話投標服務,請於拍賣 前24小時前通知我們,同時請於本目錄所附之委託競投表格內填妥 欲競投之拍賣品,並電郵或傳真至【亞洲聯合拍賣會】之任一拍

藝術品仲介

賣公司。

【亞洲聯合拍賣會】可提供專業藝術品諮詢及藝術品保值建議,並提 供拍賣品外的仲介服務。

付款 買方須依【亞洲聯合拍賣會】指定之帳戶付款。有關付款相關事

保險及稅務建議 【亞洲聯合拍賣會】可代為處理進出口藝術品的必要保險以及稅務手 續,並且安排國內外運輸.包裝等事宜。

宜,請詳閱本目錄所載之拍賣交易規則或請與我們客服人員聯繫。 我們接受現金與支票付款,支票付款須在兌現後始能提貨,並恕不 接受旅行支票付款。信用卡付款上限為港幣15萬元,並會為每筆交 易收取2.5%手續費。

匯率計算 本拍賣會以港幣計算,若以其他幣值繳款,拍賣日起十四日內以匯

取貨

款當日匯率計算;若超過十四日且匯率不足者,則以拍賣當日之匯

拍品在所有款項結清後即可提貨。如您需要貨品運輸服務,

率計算。

【亞洲聯合拍賣會】可為您建議適當的運輸方式並提供運輸服務廠 商資料。

書面投標 除電話競投外,您亦可利用本目錄所附之書面委託競投表格進行競

鑑定物品

投。委託競投表格須於拍賣前24 小時傳真至【亞洲聯合拍賣會】之

【亞洲聯合拍賣會】鄭重建議,準買家應於拍賣進行之前親自鑑定

各拍賣公司,我們將以電話方式進行確認,若於一個工作天內還未

有興趣競投之物品,並索取有關之狀況報告。【亞洲聯合拍賣會】

收到確實回覆,敬請重新電郵、傳真表格或致電至【亞洲聯合拍賣

除就贗品(如本拍賣交易條款所界定者)作出之證明外,不對買家

會】之各拍賣公司。

作任何保證。而拍賣品以其拍賣時「現狀」出售。

5


Index / ᖚ୺ࡼॗʵ

6

Artist English

Artist Chinese

Lot No.

Arie Smit

亞力 施密特

045

046

Ayako Rokkaku

六角彩子

007

008

Bae Yoonhwan

裵倫煥

006

Cho Duckhyun

↢德鉉

031

Christine, Ay Tjoe

艾珠 克利絲汀

019

Chung Sang-­Hwa

鄭 相和

054

Ding Yi

丁乙

003

F. X. Harsono

哈索諾(胡豐文)

024

Gerhard Richter

格哈德 里希特

036

Hendra Gunawan

亨德拉‧古那旺

050

Hiroshi Sugimoto

杉本博司

033

Izumi Kato

加藤泉

014

Jang Jaerok

張宰錄

032

Jiro Yoshihara

吉原治良

052

Ju Ming

朱銘

030

Kang Ikjoong

姜益中

012

Kaws

Kaws

002

Kim Tschang-­Yeul

金昌烈

062

063

Kishio Suga

菅木志雄

058

059

Kwon Kisoo

權奇秀

011

Lee Donggi

李東起

009

Lee Jungwoong

李錠雄

055

Lee Leenam

李二男

038

034

053

047

035


Artist English

Artist Chinese

Lot No.

Lee U Fan

李 禹煥

027

M. Irfan

伊凡

026

Mangu Putra, I Gusti Agung

曼古布特拉, 古斯迪亞貢

025

Masaaki Yamada

山田正亮

060

Nasirun

那室蘭

020

Oh Chigyun

吳治均

057

Pablo Picasso

巴勃羅‧畢卡索

029

Paik Namjune

白南準

037

S. Sudjojono

蘇佐佐諾

048

Sadali, Ahmad

亞末 薩達利

051

Samsul Arifin

阿里凡

021

Sung Taejin

成太鎭

005

Suwage, Agus

阿格斯 蘇瓦吉

023

Takashi Murakami

村上隆

004

Tetsuya Ishida

石田徹也

064

Tsuguharu Leonard Foujita

藤田嗣治

065

Vik Muniz

Vik Muniz

013

Xue Song

薛松

039

040

Yayoi Kusama

草間彌生

041

Yee Sookyung

李受俓

056

Yoon Jongseok

尹鍾錫

010

Yoshitomo Nara

奈良美智

001

Yunizar

尤尼扎

022

028

061

049

066

067

068

042

043

044

015

016

017

069

070

018

7


One  East  Larasati

�通 雡莎蒂

6LQFH /DUDVDWLÂśV ÂżUVW DXFWLRQ KHOG RQ $SULO LQ Jakarta,  Indonesia,  the  regional  auction  house’s  reputation  has  grown  rapidly  for  auctioning  rare  and  emerging  Indonesian  as  well  as  other  Asian  works  at  record  prices.  In  2003,  Larasati  marked  a  milestone  in  its  pursuit  to  become  a  major  player  in  the  Asian  market,  with  its  entry  LQWR 6LQJDSRUH DQG EHFRPLQJ WKH ÂżUVW $VLDQ EDVHG DXFWLRQ house  that  crossed  national  borders.

Îą Ë‚ Ë€cá‘‚ŕ­œŕť Î•Ϳ̛ۚϚԓ‍ؿ‏ŕś?˱༠൬Ϸ

,Q /DUDVDWL EHFDPH WKH ¿UVW DXFWLRQ KRXVH IURP Southeast  Asia  to  enter  Hong  Kong,  the  third  largest  auction  market  in  the  world.  In  view  of  growth  opportunities  and  successful  operations  over  the  last  10  years,  Larasati  is  expanding  and  One  East  Larasati  is  now  the  new  umbrella  for  its  auction  business  in  Hong  Kong  and  beyond.

Ě&#x;௿‍ڲ׭ؿ‏ԓ‍×?â€Źáˆ’ϡeá›†â€Ť×›â€ŹŕŹ Î›ŕł•ŕ˘„á‹€༤Ő—༦˾ Îą

)RFXVHG RQ IHDWXULQJ VLJQLÂżFDQW ZRUNV RI DUW DQG WUHDWLQJ them  as  a  kind  of  museum  art,  One  East  Larasati’s  boutique  FROOHFWLRQ SODWIRUPV ÂżQH ZRUNV E\ PDVWHU DUWLVWV IURP Southeast  Asia  and  other  important  art  hubs  in  Asia.  More  than  just  merely  a  matter  of  buying  and  selling  art  objects,  One  East  Larasati  is  driven  to  enhance  the  appreciation  and  development  of  art  in  Asia.

୺ɝʜ‍ؿ‏ɣ࢑Đ?‍ۂ‏eྦྷá–šŕŽ?á‘‚ŕ­œ໠ϤӰcá–šŕ­şâ€ŤŘżŰ‚â€ŹáƒŤ

Currently,  One  East  Larasati  manages  its  auctions  in  four  different  countries:  Indonesia,  Singapore,  Hong  Kong,  and  the  Netherlands.

8

Čżŕ –Ď‰â€Ť×?â€Źáˆ’cĎŠâ€ŤÜƒâ€ŹÉŒâ€Ť×?â€Źáˆ’ȿଠÎ›ÍżĚ›ĘĽÔŻĚšÔ“â€ŤÝ˜â€Źŕ¨?य़ â€ŤŢ‚Řżâ€ŹŕłŁŐ—ŕ¸“áŒ™á–šŕ­şâ€ŤŰ‚â€ŹcÔŽྨवáƒŤŕŁ&#x;তá?Łcáœ‘ŕŽ›य़ਂŕ¨&#x; ‍×?â€Źáˆ’ϡÎ?ĎŠϤá?°ÎŠá—§ŕŚ´e Îącá‘‚ŕ­œ໠̳βÉƒá‰™ŕ¸“ ËąŐŁcΚâ€Ťŕ –ÝŻâ€Źŕś‚ŕźŽŕ¨?â€ŤŘżŢˆâ€ŹÔ“â€Ť×?Ý˜â€Źáˆ’ϡcŕŽ›ಲá€˜Ü°á‘‚ŕ­œ ŕť á™ťÓ¸Ô“â€Ť×?ߏËšÝ˜â€Źáˆ’ϡâ€ŤßŹŕ ‡Řżâ€ŹÔˆ೥ŕşŒe Îącá‘‚ŕ­œ໠ιâ€Ťŕ –ÝŻâ€Źŕś‚ྏÉƒŕ —ŕ˛‹ Ë–â€ŤŢˆâ€ŹŕŹąÉ?ɣ‍×?â€Źáˆ’ ŕś‚â€ŤŘżâ€ŹÎšË˛ŕş¤á?Şcá‘‚ŕ­œŕť á’ˇŕ˘„ŕźœá?Şá†˛ŕŻźcÔŽŕŠ€á–šŕŽ?á‘‚ŕ­œ ŕť Đ?â€ŤÝŻâ€ŹŕľŹÉƒŕ —ŕ˛‹ȽϭҥɣĚ&#x;௿â€ŤŘżâ€Źŕś€ŕź?͹ቂe á–šŕŽ?á‘‚ŕ­œŕť ŕ´źá—¸ŕľ”â€ŤŘżâ€Źá–šŕ­şâ€ŤŢ‚ÝŻŰ‚â€Źá—¸cÔŽྏϡá €Ęśŕ˘„ Í?cԯ຤԰ᔀ‍ۂ‏ᚤ‍ܢ‏ȿԞϏ‍ڲ׭‏ԓʼԯ̚˚ߏÔ“â€ŤÝ˜â€Źá–š ŕ ¤ÉşŕśŠÎ•â€Ť×›â€ŹŕľŹĎˇâ€Ť×?â€Źáˆ’cŇĄŮ˜߲˹ŕŠœÔ“â€ŤÝ˜â€Źá–šŕ­şá›†áˆŒĘĽŕł• ŕ˘„â€ŤÍ¨ŕ ‡Řżâ€Źe ÎŁĘŒcá–šŕŽ?á‘‚ŕ­œŕť â€ŤŘżâ€ŹÓ¸á„§ŕź§ĘĽĚ’ŕ Żŕ¨?य़iͿ̛ۚϚ Ô“dณ˹գdŕ —ŕ˛‹Ő—ŕ­Šá™Źe


韓國首佳拍賣 ᒚਝࠖԙ‫׏‬ሒ௚͓ɘ α ˂cʔ̇ΔэϽɘณҳ ‫ݞ‬cА‫ݯ‬ȹࡼοΕʵეᒚਝ޻୺̟௿ೕࢄ‫ؿ‬ਿพᖚ୺ ‫׏ۂ‬ሒʔ̇c҈ࠨੀ‫ݯ‬ჇɎొԜ௖ഒሬ‫ؿ‬᏷ྊʥ௖᎚ ሔ‫৻רؿ‬eʔ̇ɀᅢʥɍᅢኟτᄖᒏ‫ي͐ࢄؿ‬ංcჇ Ɏɺඩ˿˞‫ٶ‬൝ᔴΔ‫؀‬ሌΈိ‫ۂ׏‬c‫׏‬ሒ๫ˀᑹ˿˞ ൬Ƀɀᅢ‫׏ؿ‬ሒ௿ጱӸ᛽᛻ᘏ‫ؿ׏‬ᅥመe ̰Ԟcʔ̇ੀȹΣ‫֡ܫ‬Δᗐ؇ၤҐోਝʑ̔޻୺̟௿ ‫৽ؿ‬ΉdᄩඑΈိঢ়ˋๅ‫ؿ‬ᖚ୺А‫ۂ‬c‫ݯ‬ᚋ۪ొԜๅ ᆢ‫ࢠڌؿ‬ၤਿพ‫৻רؿ‬cɈұ௖ɣࠉ۹Δ࿶ӷᚋ۪‫ؿ‬ ჏ұc΃ࣂ҈ࠨᑹੀ‫ݯ‬ኹ͓՗ஃᆲ޻୺‫׏ۂ‬ሒʼʝϤ Аˮɺኜ‫ؿ‬ЦɈe

9


ASIAN  ART  AUCTION  ALLIANCE  (A|A|A|A)  was  HVWDEOLVKHG DV DQ RYHUVHDV DIÂżOLDWHG FRPSDQ\ RI 6KLQZD $UW $XFWLRQ IRXQGHG LQ DQ LQĂ€XHQWLDO -DSDQHVH auction  house  listed  on  JASDAQ,  a  stock  exchange  for  emerging  companies  in  Japan.  A|A|A|A  was  formed  as  a  joint  venture  to  accelerate  Shinwa  auction  group’s  presence  in  the  Asian  art  market,  and  is  aiming  to  achieve  broad  alliances  and  new  developments  among  global  art  community  in  order  to  support/expand/vitalize  a  global  art  market  from  Asia.   $_$_$_$ KDV KHOG LWV ÂżUVW VROH RUJDQL]HG DXFWLRQV LQ +RQJ Kong  on  May  2010.   A|A|A|A’s  Art  auctions  feature  a  wide  variety  of  items  including  Japanese,  Western,  and  Asian  works,  and  precious  jewelleries,  watches  and  wine.   A|A|A|A  is  expanding  Asian  client  base,  increasing  the  impact  of  Japanese  art,  and  further  developing  the  Asian  market.  Â

10

$_$_$_$â€ŤÝŻâ€ŹáŒąŐ—á–šŕ­şâ€Ť×?â€Źáˆ’ࣥβŕ¸œâ€ŤÚƒĚ”ࣾؿم‏ᙔʔ̇eáŒą ՗ᖚ୺‍×?â€Źáˆ’â€Ť×›â€ŹË€ĚŻá–ŹÔ´Íšâ€ŤÖş×žâ€Ź-$6'$4௚พ‍ל‏É?Ě&#x;c ܰˀ̯‍×?â€Źáˆ’â€ŤŢˆâ€ŹĘ‘á?žÓˇá‚Śŕ ‡â€ŤŘżâ€Źŕ¸žŮ‘e$_$_$_$Đ?â€ŤÝŻâ€ŹáŒąŐ—á–š ୺‍×?â€Źáˆ’ࣥβŕ¸œâ€ŤŘżŮ…â€ŹÎ‹ŕź…Ę”Ě‡cÍŒá…&#x;Ü°â€ŤÚ”â€ŹŕľŹáŒąŐ—á–šŕ­şâ€Ť×?‏ ሒࣥβŕ¸œâ€ŤŮ…â€ŹÎ•Ô“â€ŤÝ˜â€Źá–šŕ­şĚ&#x;௿ɞΔϽcÎƒŕŁ‚ÎżÎ•ŕ¨?჌ᖚ ୺‍م‏ະʑᄤ೜á?˛ŕšˇcÔŽËžར᎞‍م‏ະŕŞ?ஹˮŕ¸“â€ŤÍŒÝŻâ€Źá…&#x;c ѴજÎ•Ô“â€ŤÝ˜â€ŹĘťâ€ŤÜ›â€Źdá’ˇŕ˘„ĘĽŕ°¨áŒ™ŕ¨?áƒŒá–šŕ­şĚ&#x;௿e Îą Ë‚$_$_$_$Î•ŕ —ŕ˛‹á?žá?’ŕ –Ď‰á‹&#x;य़Ëšá?’‍×?Řżâ€Źáˆ’ ŕ¸œe$_$_$_$‍ؿ‏ᖚ୺‍×?â€Źáˆ’á €â€ŤŰ‚â€Źcŕ§–Čżá ‰á–“Ë€ĚŻdϚʿŐ— Ô“â€ŤŘżÝ˜â€ŹÎŠय़Đ?‍ۂ‏cҥᄤ‍Ř&#x;‏Δ˳фΊྔकᗸcᘸá?œĘĽâ€ŤÝ—‏ ŕ§ˆe$_$_$_$ŕŠ€á‹śŕ¸Łŕś€â€Ť×…â€ŹÔŻÔ“â€ŤŰŞÝ˜â€ŹĘ¸á„™cŕąŠĘ Ë€ĚŻá–šŕ­ş â€ŤŘżâ€Źá„§ášŠÉˆcÔŽྏȚү‍ࢄׅ‏ԓ‍Ě&#x;Ý˜â€ŹŕŻże


11


Lot 1

YOSHITOMO NARA

12

(b.Japanese, 1959)

ĺĽˆč‰ŻçžŽć™ş E ˀ̯É

Boot Polish 1998 pencil, watercolor and gouache on paper framed 22.8 x 15.3 cm

%RRW 3ROLVK ༷೫dË‹ŕŠ&#x;dˋ༑d༞̯ ࣑໦ [ FP

Estimate HK$21,000 - 42,000 Estimate US$2,700 - 5,400

HK$21,000 - 42,000 US$2,700 - 5,400


Lot 2

KAWS

(b.American, 1974)

a. Kaws Companion (Resting Place) 2012 resin w22.0 x d29.0 x h22.6 cm b. Snoopy Ceramic (Kaws version) 2012 ceramic w23 x h18 cm

Estimate HK$5,000 - 10,000 Estimate US$700 - 1,300

Kaws E Ţťŕ¨?É

D .DZV ÎƒĐ‚ ͤࢠ୎ ኚ༭ Z [ G [ K FP E ĚŒáš‰Ëˆ஽ኂ ஽ኂ Z [ K FP

HK$5,000 - 10,000 US$700 - 1,300 a

b

13


Lot 3

DING YI

(b.Chinese, 1962)

a. Fan 2009 silkscreen on hahnemuhle framed 31.6 x 63.9 cm titled and numbered 58/100 lower right, signed and dated lower left b. Appearances of Crosees 2010 silkscreen on paper framed 53.8 x 75.0 cm numbered 44/50 lower left, signed and dated lower right

Estimate HK$25,000 - 40,000 Estimate US$3,300 - 5,200

ä¸ äš™ E Éťŕ¨?É

a

D ࢊ ŕłťá ŒÍżÔľdŕˇ?ᄙ༞̯ ࣑໦ [ FP Ě ÉŽâ€ŤÚƒâ€Źá…&#x;ᕀ՗‍؎‏ᅕá…&#x;؇ ĚžÉŽâ€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨ E ÉŠÍ? ŕłťá ŒÍżÔľd༞̯ ࣑໦ [ FP ĚžÉŽâ€ŤŘŽÚƒâ€Źá…•á…&#x;؇ Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨

HK$25,000 - 40,000 US$3,300 - 5,200

b

14


Lot 4

TAKASHI MURAKAMI (DRAFT)

(b.Japanese, 1962)

ć?‘上隆(ĺŽ&#x;ćĄˆ) E ˀ̯É

PROJECT KO2 1/5 Miss KO2 1999 resin cast figure w17.0 x d21.8 x h50.5 cm (include base) artist proof (& april fool) edition, edition 200

͏ི .2 .2 ÉŠŐ´ ኚ༭dÉ ŃźŕĽ–ŕľ‹ Z [ G [ K FP ˳‍ ࢔֛ܢ‏ Đ?ّᖏ‍؎ ע‏ᅕ

Estimate HK$70,000 - 100,000 Estimate US$9,000 - 12,900

HK$70,000 - 100,000 US$9,000 - 12,900

15


Lot 5

SUNG TAEJIN

16

(b.Korean, 1974)

ćˆ?太鎭 E á’šŕ¨?É

Spirit of Balhae acrylic on embossed wood panel framed 80 x 60 cm

6SLULW RI %DOKDH Ë•ૼdËƒâ€Ť×śâ€Źdࣺá?Ż ࣑໦ [ FP

Estimate HK$14,000 - 28,000 Estimate US$1,800 - 3,600

HK$14,000 - 28,000 US$1,800 - 3,600


Lot 6

BAE YOONHWAN

(b.Korean, 1983)

裾倍煼 E á’šŕ¨?É

Smashing Pumpkins H2 2011 enamel on canvas 116.8 x 91.0 cm signed, titled and dated on the reverse

6PDVKLQJ 3XPSNLQV + Ě ŕ ?dମ࿸ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨

Estimate HK$14,000 - 28,000 Estimate US$1,800 - 3,600

HK$14,000 - 28,000 US$1,800 - 3,600

17


Lot 7

AYAKO ROKKAKU

18

(b.Japanese, 1982)

六角彊ĺ­? E ˀ̯É

Untitled 2006 oil on canvas 91 x 91 cm signed and dated on the reverse

ಲá•€ Ě ŕ ?‍ؖ‏ೋ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨

Estimate HK$30,000 - 50,000 Estimate US$3,900 - 6,500

HK$30,000 - 50,000 US$3,900 - 6,500


Lot 8

AYAKO ROKKAKU

(b.Japanese,1982)

六角彊ĺ­? E ˀ̯É

Untitled 2006 oil on canvas 160 x 130 cm signed and dated on the reverse

ಲá•€ Ě ŕ ?‍ؖ‏ೋ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨

Estimate HK$65,000 - 85,000 Estimate US$8,400 - 10,900

HK$65,000 - 85,000 US$8,400 - 10,900

19


Lot 9

LEE DONGGI

20

(b.Korean,1967)

ć?Žć?ąčľˇ E á’šŕ¨?É

Bubbles 2008 acrylic on canvas framed 59 x 59 cm signed, titled and dated on the reverse

%XEEOHV Ě ŕ ?Ë•ૼ ࣑໦ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨

Estimate HK$49,000 - 98,000 Estimate US$6,300 - 12,600

HK$49,000 - 98,000 US$6,300 - 12,600


Lot 10

YOON JONGSEOK

(b.Korean, 1970)

ĺ°šé?žéŒŤ E á’šŕ¨?É

Net Hanging Down the Concealed Side 2008 acrylic on canvas framed 130 x 97 cm

1HW +DQJLQJ 'RZQ WKH &RQFHDOHG 6LGH Ě ŕ ?Ë•ૼ ࣑໦ [ FP

Estimate HK$42,000 - 70,000 Estimate US$5,400 - 9,000

HK$42,000 - 70,000 US$5,400 - 9,000

21


Lot 11

KWON KISOO

22

(b.Korean, 1972)

揊弇秀 E á’šŕ¨?É

Untitled acrylic on canvas framed 116.8 x 91.0 cm

ಲá•€ Ě ŕ ?Ë•ૼ ࣑໦ [ FP

Estimate HK$77,000 - 110,000 Estimate US$9,900 - 14,200

HK$77,000 - 110,000 US$9,900 - 14,200


Lot 12

KANG IKJOONG

(b.Korean, 1960)

ĺ§œç›Š中 E á’šŕ¨?É

Happy World 2010 mixed media on panel framed 89 x 89 cm signed and dated on lower right

+DSS\ :RUOG á‡˛Î‹ŕ°ŒŇĽdŕ°˜â€Ť ל‏ ࣑໦ [ FP Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨

Estimate HK$105,000 - 170,000 Estimate US$13,500 - 21,800

HK$105,000 - 170,000 US$13,500 - 21,800

23


Lot 13

VIK MUNIZ

24

(b.Brazilian, 1961)

Vik Muniz E ʹϚÉ

Rouen Cathedral Façade: Gray day, after Claude Monet (Picture of Pigment) 2005 C-Print 151 x 100 cm (format image) numbered 3/4 AP PROVENANCE: Galerie Xippas; Japanese Collector

5RXHQ &DWKHGUDO )DçDGH *UD\ GD\ DIWHU &ODXGH 0RQHW 3LFWXUH RI 3LJPHQW & ÍżÔľ [ FP IRUPDW LPDJH ‍؎‏ᅕá…&#x;؇ $3 ËŽŕ­Ž ;LSSDVŕł‹ŕ°˘ ˀ̯ᔀय़

Estimate HK$200,000 - 300,000 Estimate US$25,700 - 38,500

HK$200,000 - 300,000 US$25,700 - 38,500


Lot 14

IZUMI KATO

(b.Japanese, 1969)

ĺŠ č—¤ćł‰ E ˀ̯É

Untitled 2007 oil on canvas 162.0 x 130.3 cm signed, titled and dated on the reverse

ಲá•€ Ě ŕ ?‍ؖ‏ೋ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨

Estimate HK$185,000 - 235,000 Estimate US$23,800 - 30,200

HK$185,000 - 235,000 US$23,800 - 30,200

25


Lot 15

YOSHITOMO NARA

26

(b.Japanese, 1959)

ĺĽˆč‰ŻçžŽć™ş E ˀ̯É

Mori Girl 2012 mixed media h30cm signed, numbered 64/200

๲ɤ‍ ی‏ ૥΋༖Ҽ K FP â€ŤÚƒâ€Źá–‹ÎŠ ‍؎‏ᅕá…&#x;؇

Estimate HK$40,000 - 60,000 Estimate US$5,200 - 7,700

HK$40,000 - 60,000 US$5,200 - 7,700


Lot 16

YOSHITOMO NARA

(b.Japanese, 1959)

ĺĽˆč‰ŻçžŽć™ş E ˀ̯É

Sleepless Night Sitting 2007 resin, wood & mixed media 16 x 15 x h30 cm signed and numbered 162/300

6OHHSOHVV 1LJKW 6LWWLQJ ኚ༭d˃d૥΋༖Ҽ [ [ K FP â€ŤÚƒâ€Źá–‹ÎŠŐ—â€ŤŘŽâ€Źá…•á…&#x;؇

Estimate HK$80,000 - 120,000 Estimate US$10,300 - 15,400

HK$80,000 - 120,000 US$10,300 - 15,400

27


Lot 17

YOSHITOMO NARA

(b.Japanese, 1959)

World Peace 1997 watercolor on paper framed 29.5 x 21.0 cm signed on the reverse

Estimate HK$98,000 - 140,000 Estimate US$12,600 - 18,000

ĺĽˆč‰ŻçžŽć™ş E ˀ̯É

:RUOG 3HDFH ༞̯dË‹ŕŠ&#x; ࣑໦ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠ

HK$98,000 - 140,000 US$12,600 - 18,000

28


29


Lot 18

YOSHITOMO NARA

(b.Japanese, 1959)

15 Gesichter 1989 acrylic on paper and cotton 110 x 100 cm signed, titled and dated on the reverse LITERATURE: Tsuguhiko Kadokawa, in the Deepest Puddle, Tokyo, Japan, 1997 Kentaro Oshita, YOSHITOMO NARA: THE COMPLETE WORKS VOLUME1: PAINTINGS, SCULPTURE, EDITIONS, PHOTOGRAPAHS, 2011, p064, P-1989-002

Estimate HK$400,000 - 600,000 Estimate US$51,300 - 77,000

ĺĽˆč‰ŻçžŽć™ş E ˀ̯É

*HVLFKWHU ༞̯dË•ૼdŕą˝ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨ ˎ‍ ؎‏7VXJXKLNR .DGRNDZD ௖૯‍ؿ‏؋ᅾɝ ‍׭‏ԕ ˀ̯ .HQWDUR 2VKLWD ժӪޝ๣ ѧ኏‍ؿ‏Đ?‍ۂ‏92/80( á–’ŕł‹ á?ŻÔł ŕł•ϡ̯ ‍ޚ‏Ë? S 3

HK$400,000 - 600,000 US$51,300 - 77,000

30


31


32


33


34


35


36


37


38


39


40


41


Lot 27

LEE U FAN

(b.Korean, 1936)

Work ceramic framed 18.5 x 18.5 cm signed

Estimate HK$40,000 - 60,000 Estimate US$5,200 - 7,700

ć?Ž 猚ç…Ľ E á’šŕ¨?É

Đ?‍ ۂ‏ ஽ኂ ࣑໦ [ FP â€ŤÚƒâ€Źá–‹ÎŠ

HK$40,000 - 60,000 US$5,200 - 7,700

42


43


Lot 28

LEE U FAN

(b.Korean, 1936)

a. Work ceramic cup d12.0 x h7.8 cm saucer φ16.0 x h3.6 cm signed b. Work 1993 ceramic cup d11.0 x h5.7 cm saucer φ16.2 x h2.0 cm signed and dated c. Work ceramic sugar pot d9.0 x h9.6 cm signed

Estimate HK$60,000 - 80,000 Estimate US$7,700 - 10,300

ć?Ž 猚ç…Ľ E á’šŕ¨?É

D Đ?‍ ۂ‏ ஽ኂ FXS G [ K FP VDXFHU ÇŒ [ K FP â€ŤÚƒâ€Źá–‹ÎŠ E Đ?‍ ۂ‏ ஽ኂ FXS G [ K FP VDXFHU ÇŒ [ K FP â€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨ F Đ?‍ ۂ‏ ஽ኂ VXJDU SRW G [ K FP â€ŤÚƒâ€Źá–‹ÎŠ

HK$60,000 - 80,000 US$7,700 - 10,300

44

a


b

c

45


Lot 29

PABLO PICASSO

(b.Spanish, 1881-1973)

Fucina degli Angeli 1966 clear glass with violet part landing acid etched opaque white melting h24cm signed "P. PICASSO F.A. VENICE STUDIO"

Estimate HK$65,000 - 85,000 Estimate US$8,400 - 10,900

塴ĺ‹ƒçž…g畢ĺ?Ąç´˘ E ϚऒˑÉ

Ë’ ‍ހ‏á†?d೹ϳ஫ͫâ€ŤÝŻâ€Źá‚śÖ˛á żÔł K FP â€ŤÚƒâ€Źá–‹ÎŠ 3 3,&$662 ) $ 9(1,&( 678',2

HK$65,000 - 85,000 US$8,400 - 10,900

46


47


Lot 30

JU MING

48

(b.Taiwanese, 1936)

ćœąéŠ˜ E ĚŽáœŞÉ

Tai Chi Series 1996 copper 33.7 x 38.3 x h55.0 cm signed "Ju Ming" in Chinese, numbered AP 5/6 and dated '96 with certificate of authenticity with the artist's signature, issued by Ju Ming Studio. EXHIBITION : "Building a permanent home: Expanse Living Series - Collection of Ju Ming" Shin Kong Gallery, Taipei, 2009

ʪรӥ͜ á‚ťá?Ż [ [ FP ᖋΊiχ႟ ĎŹ â€ŤÚƒâ€ŹĎ‡á‚źÉŽĐ?ŰŠŕś€Í“Éžá–š୺य़áŒąá–‹â€ŤÚ“â€Źá–ŹŕŁŠ ࢄᙴiÂ—Ě¨ŕŽĽČšŕ ŻĚˇÉ”â€ŤŕĄźŘżâ€Źiá„–á’?É ŕś‚Ă?â€ŤŢ‚â€Źá”€Ď‡á‚źÂ˜cณ͎ޝ୺ᎂcĚŽËľc Îą

Estimate HK$800,000 - 1,000,000 Estimate US$102,600 - 128,300

HK$800,000 - 1,000,000 US$102,600 - 128,300

Ju Ming's wisdom and intuition which is grasped from daily practice not only permanently shapes his works but also shows his boundless spirit when chiseling stones and carving wood. In his "dialogues" with the material, he realizes the idea of the universal order that nature reveals in different forms of life. He uses basic techniques to shape the material so that the works' structure seems to be simple and at the same time, vigorous to put his works into a spiritual sphere. Tai Chi Chuan is, as it can be said, the best example of combining man with nature. By using human limbs, facial features, blood and breathing, Tai Chi imitates natural phenomena; such as animals, plants and air, for their existence is most natural and they are part of the nature. Through imitation, Tai Chi helps people return to the very original state. Ju Ming hopes to find and to adopt harmony in, and relationship with, nature through practicing Tai Chi and through the carving of Tai Chi Chuan's movements. He realizes reconciliation of god and man. Through his art he succeeds to bring together man and nature.

χ႟‍Â?ؿ‏ʪรӥ͜Â?ʵϬˢྦྷâ€Ť×›â€ŹĘŞŕ¸Łŕ˘ŞÉťá ™dŕą™d৽dá?ˇĎ¤Ôžâ€ŤŘżâ€Źáœ™ࡰcŕźœÍ‚Ôˇá?Ż ŕˇ?É á›˝É?cÓ¸Ńźá ¤â€Ť×ƒâ€ŹÎ˛ŃźÎšá ‡ŕ¨˝á ¤Ń§ŕ´ â€ŤŘżâ€Źá›˝ŕž¸ŕłśŕżšcÓ¸á›˝Î•ŕźœϡâ€ŤŘżâ€ŹŕźŚŕłĄÉťĎťŕŽ&#x;Čż ŕŁŠá ¤Éˆâ€ŤŘżâ€ŹáŒŞŕ¸œcĐ?‍ۂ‏ΕథЄáŠ?ŕłśŕżšá ¤ÔŽŕľ‹ŕ¤‹áˆ”Éžŕś‚ŕŹ?Í Čżŕł¸ŃœĚĄáŒŤeንᔄŕ´&#x;̥ࣂ ŕ łá†ťÖşá›˝ŕ˘˘â€Ť Řżâ€ŹŕąŁá„Ťá ¤â€ŤŮ‚â€Źá˜¨cÉşá’žáœ‘Đ?‍ۂ‏Κџcâ€ŤŮ˛â€ŹŕŹŠÎ•ˢÉ†áƒ˛Í?Ҽ֜ܰËƒŇĽŕŁ‚â€ŤŘżâ€Źá†Ą ㉎࣊ቼcÜ°Ë˘ŕŠŁá ¤ŕĽ–ŇĽâ€Ťŕž§Řżâ€ŹŕťˇŕŁ‚cეࢢˎϏಳֺоŕŹŠâ€ŤŘżâ€ŹÎ§Ö„ŕĽŠŃľcÖśÍ ŐœŃź ྸࣂ ϤԞ‍ؿ‏௚Đ?ྸ۹eËžŕĄˆŐśâ€ŤŘżâ€Źáƒ˛dŕĄ…á ¤á??Ę˜â€ŤŘ’ʚؿ‏cŃźá›˝Ě”áœŽĎ„ŕľ™á‘­á“Żâ€ŤŘż×?â€ŹŕˇŽŐˆc É–Î?ϤҥԎĎ„ÉˆࡰcÉ–Ôš੡Đ?â€ŤŰ‚â€ŹŕľŹÉƒČšá€­ŕĽ˜á€žŃźÎ˛â€ŤŘżâ€Źá €ŕĽ Ö˛á ¤ŕŽĽâ€ŤÖ˛ŰŽâ€Źeʪรࢪ˿ Ëžá‚“Ü°É á ¤ĎŹŕ˛łŕłśÎ‹â€ŤŘżâ€ŹŕŻ–ÎĄÔ?ÉĽcŕźœÍ‚É â€ŤŘżâ€ŹÓ¸á›˝Ě’Ů”dĘ„Ö‚dĎśŕŤ–dŐ“ПೊԞઅ á˜ŠŐ—á…Ąŕ œΧÖ„Éťâ€ŤŘżâ€ŹĎŹŕ˛łŕŹŠŕľ‹c‍ŕ ?ٲ‏É?Ü° á…Ąŕ œ৽‍ذ‏d๺‍ذ‏d‍࣊ي‏É?ိϏಳߏ༖eÎ? â€ŤÝŻâ€ŹË˘ŕ ¨â€ŤŘżâ€ŹÎŚÎ•ŕ°—Ü°Čšá€­ŕŻ–Ϗಳâ€Ťŕž¸ŘąŘżâ€Źcೊâ€ŤÜ°×›â€ŹĎŹŕ˛łâ€ŤŘżâ€ŹČšŕŽŤÍŤcʪรࢪగܰᔄͅᅥ Í?Ěšŕ ¨cÔžáŽłĐĽÉ Î‘ ԡϏಳâ€ŤŕĄˆŘżâ€ŹĎ˝eχ႟̨ʪรdԳʪรcŕ°—ܰѴજ༜ਪŇ’ŕ°–Ôˇ Ϗಳâ€ŤŢˆâ€Źŕť§Î‹áŒšdĘƒâ€ŤŘżŢšâ€Źá?˛á–ŽcΉϏಳáŠ?ŕ­ŒÎ‹áŒšÉžŕŹ‰cˢϏʪรࢪ‍ؿ‏࿍ᆝɝ᛽ࢢʨ É Î‹Čšâ€ŤŘżâ€ŹŕžŠâ€ŤŢˆâ€Źc஦༦Ϭɯá–šŕ­şâ€ŤĚŻŘżâ€Źáˆ”ŕź ÔˇÉ á ¤ĎŹŕ˛łŕłśÎ‹ŕŻ–ѧΥâ€ŤŘżâ€ŹĐľŕŹŠe


49


Lot 31

CHO DUCKHYUN

50

(b.Korean, 1957)

â†˘áœ˘â•° E á’šŕ¨?É

A Memory of the 20th Century oil on canvas framed 119.5 x 89.5 cm with box

$ 0HPRU\ RI WKH WK &HQWXU\ Ě ŕ ?‍ؖ‏ೋ ࣑໦ [ FP â€ŤÚƒâ€ŹŕŹ?

Estimate HK$63,000 - 110,000 Estimate US$8,100 - 14,200

HK$63,000 - 110,000 US$8,100 - 14,200


Lot 32

JANG JAEROK

(b.Korean, 1978)

埾厰錄 E á’šŕ¨?É

Another Landscape ink on cotton canvas 122.5 x 180.0 cm

$QRWKHU /DQGVFDSH ŕą˝Ě dŕŠ&#x;቎ [ FP

Estimate HK$42,000 - 63,000 Estimate US$5,400 - 8,100

HK$42,000 - 63,000 US$5,400 - 8,100

51


Lot 33

HIROSHI SUGIMOTO

52

(b.Japanese, 1948)

ć?‰ćœŹĺ?šĺ?¸ E ˀ̯É

Time's arrow 2004 color offset lithograph framed 25.0 x 20.7 cm signed, numbered 84/200

ŕŁ‚ŕś‚á†°á?ž ŕŠ&#x;቎d‍؎‏ೋ ࣑໦ [ FP â€ŤÚƒâ€Źá–‹ÎŠŐ—â€ŤŘŽâ€Źá…•á…&#x;؇

Estimate HK$5,000 - 10,000 Estimate US$700 - 1,300

HK$5,000 - 10,000 US$700 - 1,300


Lot 34

HIROSHI SUGIMOTO

(b.Japanese, 1948)

ć?‰ćœŹĺ?šĺ?¸ E ˀ̯É

United Nations - W.K. Harrison 1997 gelatin silver print framed 58.3 x 46.8 cm ed.16/25

8QLWHG 1DWLRQV : . +DUULVRQ ‍ע‏ᇒႺͿ ࣑໦ [ FP â€ŤŘŽÚƒâ€Źá…•á…&#x;؇

Estimate HK$110,000 - 200,000 Estimate US$14,200 - 25,700

HK$110,000 - 200,000 US$14,200 - 25,700

53


Lot 35

HIROSHI SUGIMOTO

(b.Japanese, 1948)

Chapel Notre Dame du Haut (Le Corbusier) 1998 gelatin silver print framed 50.8 x 61.0 cm ed.4/25

Estimate HK$110,000 - 200,000 Estimate US$14,200 - 25,700

ć?‰ćœŹĺ?šĺ?¸ E ˀ̯É

&KDSHO 1RWUH 'DPH GX +DXW /H &RUEXVLHU ‍ע‏ᇒႺͿ ࣑໦ [ FP â€ŤŘŽÚƒâ€Źá…•á…&#x;؇

HK$110,000 - 200,000 US$14,200 - 25,700

54


55


Lot 36

GERHARD RICHTER

(b.German, 1932)

4.Febr.1999 1999 oil on photograph framed 10.2 x 15.0 cm signed

Estimate HK$190,000 - 280,000 Estimate US$24,400 - 35,900

ć źĺ“ˆ垡 é‡Œĺ¸Œç‰š E ᄨŕ¨?É

)HEU ŕš‘Ë?d‍ؖ‏ŕŠ&#x; ࣑໦ [ FP â€ŤÚƒâ€Źá–‹ÎŠ

HK$190,000 - 280,000 US$24,400 - 35,900

56


57


Lot 37

PAIK NAMJUNE

(b.Korean/American, 1932-2006)

MT-TV 1994 vintage TV cabinet, 4 inch monitor, electrical wire and mixed media 35.0 x 40.0 x h32.5 cm signed on lower right, numbered 21/30 on the reverse

Estimate HK$140,000 - 280,000 Estimate US$18,000 - 35,900

ç™˝ĺ?—ćş– E á’šŕ¨?É Ţťŕ¨?É

07 79 Ě€á“żŕ˝‹ŕ´źá“ƒd ɨട‍ێ‏dŕ˝‹á‡ƒd૥΋༖Ҽ [ [ K FP Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠ ߇ŕ ?â€ŤŘŽÚƒâ€Źá…•á…&#x;؇

HK$140,000 - 280,000 US$18,000 - 35,900

58


59


Lot 38

LEE LEENAM

(b.Korean, 1969)

2011-Jochundo 2011 LED TV 55in with remote control and gallery certificate

Estimate HK$190,000 - 245,000 Estimate US$24,400 - 31,500

ć?ŽäşŒç”ˇ E á’šŕ¨?É

-RFKXQGR /('ཋട LQ â€ŤÚƒâ€Źŕ¸Žઠኂʼೋఢྠ࣊

HK$190,000 - 245,000 US$24,400 - 31,500

60


61


Lot 39

XUE SONG

62

(b.Chinese, 1965)

č–›ć?ž E Éťŕ¨?É

Calligraph Strokes 2001 mixed media on canvas framed 80 x 80 cm signed on lower right

&DOOLJUDSK 6WURNHV ૥΋༖Ҽ ŕł‹Ě ŕŁ‘໦ [ FP Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠ

Estimate HK$70,000 - 100,000 Estimate US$9,000 - 12,900

HK$70,000 - 100,000 US$9,000 - 12,900


Lot 40

XUE SONG

(b.Chinese, 1965)

č–›ć?ž E Éťŕ¨?É

Abstract Painting 2000-2001 mixed media framed 96.5 x 111.5 cm signed on lower right

‍׊‏ྋೋ ૥΋༖Ҽ ࣑໦ [ FP Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠ

Estimate HK$90,000 - 120,000 Estimate US$11,600 - 15,400

HK$90,000 - 120,000 US$11,600 - 15,400

63


Lot 41

YAYOI KUSAMA

(b.Japanese, 1929)

LOVE-FOREVER 2005 mixed media h44 x φ38 cm signed, titled and dated on the reverse numbered 7/15 color is unique with Yayoi Kusama Studio certificate

Estimate HK$120,000 - 180,000 Estimate US$15,400 - 23,100

č?‰é–“ĺ˝Œç”&#x; E ˀ̯É

ࡲಲŕ ‰ ૥΋༖Ҽ K [ÇŒ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨ ‍؎‏ᅕá…&#x;؇ á‹&#x;ऋᔿϳ â€ŤÚƒâ€ŹŕŚ‰ŕś‚áŽ´Í ÉŽĐ?ۊྠ࣊

HK$120,000 - 180,000 US$15,400 - 23,100

64


65


Lot 42

YAYOI KUSAMA

(b.Japanese, 1929)

Shadow of Flowers 1986 mixed media framed 30 x 30 x 10 cm signed, titled and dated on the bottom with Yayoi Kusama Studio certificate

Estimate HK$200,000 - 300,000 Estimate US$25,700 - 38,500

č?‰é–“ĺ˝Œç”&#x; E ˀ̯É

ٌᄧ ૥΋༖Ҽ ࣑໦ [ [ FP Ö›஫â€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨ â€ŤÚƒâ€ŹŕŚ‰ŕś‚áŽ´Í ÉŽĐ?ۊྠ࣊

HK$200,000 - 300,000 US$25,700 - 38,500

66


67


Lot 43

YAYOI KUSAMA

(b.Japanese, 1929)

Flame 1990 acrylic on canvas framed 22.7 x 15.8 cm with Yayoi Kusama Studio certificate

Estimate HK$140,000 - 210,000 Estimate US$18,000 - 27,000

č?‰é–“ĺ˝Œç”&#x; E ˀ̯É

)ODPH Ě ŕ ?Ë•ૼ ࣑໦ [ FP â€ŤÚƒâ€ŹŕŚ‰ŕś‚áŽ´Í ÉŽĐ?ۊྠ࣊

HK$140,000 - 210,000 US$18,000 - 27,000

68


69


Lot 44

YAYOI KUSAMA

(b.Japanese, 1929)

Chrysanthemum 1989 acrylic on canvas framed 45.5 x 38.0 cm signed and dated on the reverse with Yayoi Kusama Studio certificate

Estimate HK$420,000 - 600,000 Estimate US$53,900 - 77,000

č?‰é–“ĺ˝Œç”&#x; E ˀ̯É

&KU\VDQWKHPXP Ě ŕ ?Ë•ૼ ࣑໦ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨ â€ŤÚƒâ€ŹŕŚ‰ŕś‚áŽ´Í ÉŽĐ?ۊྠ࣊

HK$420,000 - 600,000 US$53,900 - 77,000

70


71


72


73


74


75


76


77


78


79


Lot 52

JIRO YOSHIHARA

80

(b.Japanese, 1905-1972)

ĺ?‰ĺŽ&#x;沝良 E ˀ̯É

Untitled 1971 sumi on paper framed 25.0 x 33.3 cm signed lower right PROVENANCE : Tokyo Gallery B.T.A.P

ಲá•€ ˀ̯቎d༞̯ ࣑໦ [ FP Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠ ËŽŕ­Ž ‍׭‏ԕೋఢ % 7 $ 3

Estimate HK$50,000 - 80,000 Estimate US$6,500 - 10,300

HK$50,000 - 80,000 US$6,500 - 10,300


Lot 53

JIRO YOSHIHARA

(b.Japanese, 1905-1972)

ĺ?‰ĺŽ&#x;沝良 E ˀ̯É

Untitled 1961 silkscreen framed 54.8 x 38.8 cm signed lower right, numbered A.P

ಲá•€ ŕłťá ŒÍżÔľ ࣑໦ [ FP Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠ ‍؎‏ᅕá…&#x;؇$ 3

Estimate HK$30,000 - 60,000 Estimate US$3,900 - 7,700

HK$30,000 - 60,000 US$3,900 - 7,700

81


Lot 54

CHUNG SANG-HWA

(b.Korean, 1932)

Work 1978 graphite on paper framed 71 x 50 cm signed and dated lower right

Estimate HK$12,000 - 18,000 Estimate US$1,600 - 2,400

é„­ç›¸ĺ’Œ E á’šŕ¨?É

Đ?‍ ۂ‏ Í?቎d༞̯ ࣑໦ [ FP Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨

HK$12,000 - 18,000 US$1,600 - 2,400

82


83


Lot 55

LEE JUNGWOONG

(b.Korean, 1963)

Brush oil on Korean paper framed 90 x 150 cm signed on lower right

Estimate HK$125,000 - 245,000 Estimate US$16,100 - 31,500

ć?ŽéŒ 雄 E á’šŕ¨?É

%UXVK ᒚ༞d‍ؖ‏ೋ ࣑໦ [ FP Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠ

HK$125,000 - 245,000 US$16,100 - 31,500

84


85


Lot 56

YEE SOOKYUNG

(b.Korean, 1963)

Translated Vase ceramic trash, epoxy, 24k gold leaf 31 x 27 x h40 cm signed on the bottom

Estimate HK$84,000 - 125,000 Estimate US$10,800 - 16,100

ć?Žĺ?—äż“

E á’šŕ¨?É

7UDQVODWHG 9DVH ஽ମाË?dá?ˇŕŁŞáŠšŕĽ­d N ‍ ယٟ‏ [ [ K FP Ö›ÉŽâ€ŤÚƒâ€Źá–‹ÎŠ

HK$84,000 - 125,000 US$10,800 - 16,100

86


87


Lot 57

OH CHIGYUN

(b.Korean, 1956)

Tree and Adobe Wall 2003 acrylic on canvas framed 117 x 78 cm signed and dated on lower right

Estimate HK$420,000 - 700,000 Estimate US$53,900 - 89,800

�沝�

E á’šŕ¨?É

7UHH DQG $GREH :DOO Ě ŕ ?Ë•ૼ ࣑໦ [ FP Ě ÉŽâ€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨

HK$420,000 - 700,000 US$53,900 - 89,800

88


89


Lot 58

KISHIO SUGA

90

(b.Japanese, 1944)

č?…ćœ¨ĺż—é›„

E ˀ̯É

Shuikan 1990 wood, oil φ38.5 signed, titled and dated on the reverse

Őšଫŕś‚ ˃d‍ؖ‏ŕŠ&#x; ÇŒ ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨

Estimate HK$12,000 - 18,000 Estimate US$1,600 - 2,400

HK$12,000 - 18,000 US$1,600 - 2,400


Lot 59

KISHIO SUGA

(b.Japanese, 1944)

č?…ćœ¨ĺż—é›„

E ˀ̯É

JĹ?shĹŤ-H 1991 paint on paper framed 61.0 x 42.5 cm signed, titled and dated lower left

-RVKX + ༞̯dŕˇ?ࢿ ࣑໦ [ FP ĚžÉŽâ€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨

Estimate HK$12,000 - 18,000 Estimate US$1,600 - 2,400

HK$12,000 - 18,000 US$1,600 - 2,400

91


Lot 60

MASAAKI YAMADA

92

(b.Japanese, 1930-2010)

幹田正于

E ˀ̯É

Work B.p,179 1958 oil on paper framed 54.7 x 69.3 cm signed, titled and dated on the reverse

Đ?‍ ۂ‏% S ༞̯d‍ؖ‏ŕŠ&#x; ࣑໦ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨

Estimate HK$20,000 - 40,000 Estimate US$2,600 - 5,200

HK$20,000 - 40,000 US$2,600 - 5,200


Lot 61

MASAAKI YAMADA

(b.Japanese, 1930-2010)

幹田正于

E ˀ̯É

Work B.134 1956 oil on canvas framed 80.3 x 100.0 cm signed, titled and dated on the reverse

Đ?‍ۂ‏% Ě ŕ ?‍ؖ‏ೋ ࣑໦ [ FP ߇ŕ ?â€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨

Estimate HK$40,000 - 60,000 Estimate US$5,200 - 7,700

HK$40,000 - 60,000 US$5,200 - 7,700

93


Lot 62

KIM TSCHANG-YEUL

(b.Korean, 1929)

P.A.82001 1981 oil on canvas framed 72.7 x 90.9 cm signed, titled and dated on the right stretcher

Estimate HK$490,000 - 630,000 Estimate US$62,900 - 80,800

é‡‘ć˜Œçƒˆ

E á’šŕ¨?É

3 $ Ě ŕ ?‍ؖ‏ೋ ࣑໦ [ FP Ě Ężŕł‹ŕŁ‘â€ŤÚƒâ€Źá–‹ÎŠ á…&#x;á•€Ő—Ë€๨

HK$490,000 - 630,000 US$62,900 - 80,800

94


95


Lot 63

KIM TSCHANG-YEUL

(b.Korean, 1929)

Recurrence DRA-0007 2009 acrylic and oil on canvas framed 61 x 122 cm signed and dated on the right stretcher

Estimate HK$245,000 - 420,000 Estimate US$31,500 - 53,900

é‡‘ć˜Œçƒˆ

E á’šŕ¨?É

5HFXUUHQFH '5$ Ě ŕ ?Ë•ૼd‍ؖ‏ೋ ࣑໦ [ FP Ě Ężŕł‹ŕŁ‘â€ŤÚƒâ€Źá–‹ÎŠŐ—Ë€๨

HK$245,000 - 420,000 US$31,500 - 53,900

96


97


Lot 64

TETSUYA ISHIDA

(b.Japanese, 1973-2005)

Untitled 2004 acrylic and oil on canvas framed 45.5 x 53.0 cm signed and dated on the reverse LITERATURE : Tetsuya Ishida Complete (Kyuryudo), Page 175 No.166 Tetsuya Ishida Posthumous Works ( Kyuryudo), Page 67 Tetsuya Ishida " Our Self-Portrait" Nerima Museum, Page 39, No. 62

Estimate HK$600,000 - 800,000 Estimate US$77,000 - 102,600

98


99


Lot 65

TSUGUHARU LEONARD FOUJITA Madonna watercolor on paper framed 29.1 x 21.8 cm singed lower left, with certificate

Estimate HK$400,000 - 600,000 Estimate US$51,300 - 77,000

藤田嗣沝

E ˀ̯É

̴ູɼ Ë‹ŕŠ&#x;d༞ ࣑໦ [ FP ĚžÉŽâ€ŤÚƒâ€Źá–‹ÎŠ â€ŤŕŁŠŕľ Úƒâ€Ź

HK$400,000 - 600,000 US$51,300 - 77,000

100

(b.Japanese, 1886-1968)


101


Lot 66

TAKASHI MURAKAMI

(b.Japanese, 1962)

B "OE UIFO BOE UIFO BOE UIFO BOE UIFO BOE UIFO t 3FE 2011 offset lithography 4c process with foil framed 68 x 68 cm signed, dated and numbered 92/300 lower right b.introduced in 2001 Time Bokan – green 2011 offset lithography 4c process with silver framed 50 x 50 cm signed, dated and numbered 35/300 lower right c. DOB totem pole, 2011 2011 offset lithography 4c process with foil framed 50 x 50 cm signed, dated and numbered 35/300 lower right

a

d. Jellyfish Eyes – Black 1 2011 offset lithography 4c process with silver framed 50 x 50 cm signed, dated and numbered 75/300 lower right

Estimate HK$25,000 - 40,000 Estimate US$3,300 - 5,200

ć?‘上隆 E ˀ̯É

b

D ಳ‍ Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Ţ´ Üƒâ€Ź ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾ ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż E Ę?ଽ‍ כ‏7LPH %RNDQ á † ̥‍Ϳ؎‏Ծ ĎłĂ?ऋ࣌ϳá‚ş ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż F '2%ŕž‡á™‚ ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾ ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

c

G Ë‹̴ଡ ඣ ̥‍Ϳ؎‏Ծ ĎłĂ?ऋ࣌ϳá‚ş ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

HK$25,000 - 40,000 US$3,300 - 5,200

d

102


Lot 67

TAKASHI MURAKAMI

(b.Japanese, 1962)

B "OE UIFO BOE UIFO BOE UIFO BOE UIFO BOE UIFO t 1JOL 2011 offset lithography 4c process with foil framed 68 x 68 cm signed, dated and numbered 93/300 lower right b. Flowers Have Bloomed 2010 offset lithography 4c process with foil framed 80 x 60 cm signed, dated and numbered 227/300 lower right

a

c. Flower Ball (3-D )BLOOD V 2011 offset lithography 4c process with foil and gloss varnish framed φ71cm signed, dated and numbered 19/300 lower right d. Jellyfish Eyes White 1 2011 offset lithography 4c process with silver framed 50 x 50 cm signed, dated and numbered 65/300 lower right

Estimate HK$25,000 - 40,000 Estimate US$3,300 - 5,200

ć?‘上隆 E ˀ̯É

D ಳ‍ Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť ޴༑ Üƒâ€Ź ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾ ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

b

E ŕś€ŮŚ ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾ ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż F ŮŚŕŹˆ ' Ďś9 ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾĂ?ŕ§?͎ዉ‍͎ڋ‏࿸ ࣑໦ ÇŒ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

c

G Ë‹̴ଡ ͉ ̥‍Ϳ؎‏Ծ ĎłĂ?ऋ࣌ϳá‚ş ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

HK$25,000 - 40,000 US$3,300 - 5,200

d

103


Lot 68

TAKASHI MURAKAMI

(b.Japanese, 1962)

B "OE UIFO BOE UIFO BOE UIFO BOE UIFO BOE UIFO t "RVB #MVF 2011 offset lithography 4c process with foil framed 68 x 68 cm signed, dated and numbered 93/300 lower right b. DOB totem pole, 2011 2011 offset lithography 4c process with foil framed 50 x 50 cm signed, dated and numbered 132/300 lower right c. Flower Ball (3-D) SUNFLOWER 2011 offset lithography 4c process with foil and gloss varnish framed φ71cm signed, dated and numbered 106/300 lower right

a

d. Jellyfish Eyes White 4 2011 offset lithography 4c process with silver framed 50 x 50 cm signed, dated and numbered 17/300 lower right

Estimate HK$25,000 - 40,000 Estimate US$3,300 - 5,200

ć?‘上隆 E ˀ̯É

b

D ಳ‍ Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€ŤË‹ Üƒâ€Źá”‚ ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾ ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż E '2%ŕž‡á™‚ ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾ ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż F ŮŚŕŹˆ ' ĘŞŕśˆŮŚ ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾĂ?ŕ§?͎ዉ‍͎ڋ‏࿸ ࣑໦ ÇŒ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

c

G Ë‹̴ଡ ͉ ̥‍Ϳ؎‏Ծ ĎłĂ?ऋ࣌ϳá‚ş ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

HK$25,000 - 40,000 US$3,300 - 5,200

d

104


Lot 69

TAKASHI MURAKAMI

(b.Japanese, 1962)

B "OE UIFO BOE UIFO BOE UIFO BOE UIFO BOE UIFO t :FMMPX 2011 offset lithography 4c process with foil framed 68 x 68 cm signed, dated and numbered 17/300 lower right b. Flower Ball COSMOS (3D) 2011 offset lithography 4c process with foil and gloss varnish framed φ71cm signed, dated and numbered 59/300 lower right

a

c. Jellyfish Eyes Black 5 2011 offset lithography 4c process with silver framed 50 x 50 cm signed, dated and numbered 38/300 lower right d. Hypha will cover the world, little by little. “We should be able to get our hands on that door to the alien world soon. Wait till we get there!,� 2009 offset lithography 4c process with silver and green framed 65.7 x 129.5 cm signed, dated and numbered 128 /300 lower right

Estimate HK$25,000 - 40,000 Estimate US$3,300 - 5,200 b

ć?‘上隆 E ˀ̯É

D ಳ‍ Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€ŹŕśĄ ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾ ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż E ŮŚŕŹˆ ΧÖ„ ' ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾĂ?ŕ§?͎ዉ‍͎ڋ‏࿸ ࣑໦ ÇŒ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż F Ë‹̴ଡ ඣ ̥‍Ϳ؎‏Ծ ĎłĂ?ऋ࣌ϳá‚ş ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

c

G भണŕŠ€á”?á °áŠŹŕ ŻË–â€ŤŢˆâ€Źe Ňˆŕ ¨ČšÖ ßŹÍ‚ĘšŇšĎžÔ…Űšâ€ŤŮžâ€ŹcŇ„á’¨ÖĄŕŹ”Î”Ëžc Čšâ€ŤŮ‚â€ŹŕłŠâ€ŤŮ‚Űżâ€ŹĎ­Ňˆŕ ¨Ôˇŕź Ô…á–že ̥‍Ϳ؎‏Ծ Ďł ऋ࣌ϳá‚şĘĽá † ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

HK$25,000 - 40,000 US$3,300 - 5,200 d

105


Lot 70

TAKASHI MURAKAMI

(b.Japanese, 1962)

B "OE UIFO BOE UIFO BOE UIFO BOE UIFO BOE UIFO t #MVF 2011 offset lithography 4c process with foil framed 68 x 68 cm signed, dated and numbered 206/300 lower right b. N CHA! 2010 offset lithography 4c process with foil framed 50 x 50 cm signed, dated and numbered 20/300 lower right c. Flower Ball MARGARET (3D) 2011 offset lithography 4c process with foil and gloss varnish framed φ71cm signed, dated and numbered 128/300 lower right

a

d. Jellyfish Eyes 2011 offset lithography 4c process with silver framed 50 x 50 cm signed, dated and numbered 18/300 lower right

Estimate HK$25,000 - 40,000 Estimate US$3,300 - 5,200

ć?‘上隆 E ˀ̯É

b

D ಳ‍ Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źŕ˛łâ€Ť Üƒâ€Źá”‚ ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾ ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż E 1 &+$ ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾ ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż F ŮŚŕŹˆ နŕŁ&#x;Хऋ ' ̥‍Ϳ؎‏Ծ ĎłĂ?ᎌယͿԾĂ?ŕ§?͎ዉ‍͎ڋ‏࿸ ࣑໦ ÇŒ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

c

G Ë‹̴ଡ ̥‍Ϳ؎‏Ծ ĎłĂ?ऋ࣌ϳá‚ş ࣑໦ [ FP ᖋΊdË€๨Ő—á…&#x;؇‍؎ؿ‏ᅕ Î•Ě ÉŽĘż

HK$25,000 - 40,000 US$3,300 - 5,200

d

106


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Auction*  :         UAA  (United  Asian  Auctioneers)            Wine  Auction

      I  have  read  and  agree  to  our  Terms  &  Conditions.

*Mandatory  Fields

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TERMS  AND  CONDITIONS The  auctions  of  United  Asian  Auctioneers  in  Hong  Kong  of  art  carried  out  by  Asian  Art  Auction  Alliance,   K-­Auction,  and  One  East  Larasati.  (hereinafter  referred  to  as  â€œthe  Companyâ€?)  shall  be  conducted  in  accordance  with  Terms  and  Conditions  of  Auction  (hereinafter  referred  to  as  â€œThe  Terms  and  Conditionsâ€?).  All  concerned  parties  -­  including  any  person  who  consigns  objects  of  art  for  sale  to  the  each  auction  houses,  places  a  bid,  or  concludes  a  contract  of  sale  with  the  each  auction  houses  -­  shall  agree  to  and  comply  with  The  Terms  and  Conditions,  except  where  a  separate  agreement  with  the  each  auction  houses  has  been  concluded  in  which  case  that  agreement  shall  govern.

Section  I  LOTS (Objects  of  Art  Subject  to  Auction) Objects  of  Art  Subject  to  Auction Article  1. The  Company  shall  auction  an  object  of  art  consigned  to  it  for  sale  by  auction  (such  object  of  art  shall  hereinafter  be  referred  to  as  â€œthe  Lotâ€?)  in  the  Company’s  own  name.

Condition  of  Lot Article  2. On  the  grounds  that  the  Lot  will  usually  be  by  its  very  nature  old  and  is  to  be  sold  on  an  â€œas  isâ€?  basis,  the  Company  shall  in  no  way  be  responsible  for  stains,  scratches,  or  any  other  defects  of  the  Lot,  or  for  any  latent  defect  of  the  Lot.

Preview Article  3. (1)  The  Company  shall  arrange  a  preview  of  the  Lot  for  prospective  bidders  before  the  auction. (2)  Prospective  bidders  may  inspect  and  examine  the  Lot  at  the  preview  (but  shall  not  be  permitted  to  touch  the  Lot  except  when  necessary  and  with  the  Company’s  consent.  The  same  shall  apply  hereinafter).  Any  person  who  places  a  bid  does  so  at  his  own  judgment  and  responsibility,  having  due  consideration  for  the  condition  of  the  Lot  (including  any  defects). (3)  The  Company  may  ask  any  person  desiring  his  admittance  to  the  preview  to  present  proof  of  identity,  and  may,  at  its  absolute  discretion  and  without  explanation,  refuse  admittance  thereto.

Catalogues Article  4. (1)  The  Company  shall  prepare  catalogues  providing  information  on  the  Lots  and  distribute  the  same  to  prospective  bidders  at  a  price. (2) Illustrations  contained  in  the  catalogues  are  intended  solely  for  WKH SXUSRVH RI LGHQWL¿FDWLRQ DQG UHIHUHQFH DQG PD\ QRW EH WDNHQ to  accurately  represent  the  color  or  shape  of  the  Lot  nor  to  indicate  the  conditions  or  qualities  thereof.  The  Company  shall  in  no  way  be  responsible  for  any  discrepancy  between  the  illustrations  contained  in  the  catalogues  and  the  actual  objects.

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(3)  The  descriptions  and  comments  that  appear  in  the  catalogues  (such  as  artist,  title,  material,  restorations,  signature,  size,  time  and  place  of  production,  expert  opinion,  provenance,  bibliography)  are  compiled  by  the  Company  with  due  care  and  attention.  Nevertheless, Â

these  descriptions  and  comments  appear  solely  for  the  reference  of  prospective  bidders,  and  with  the  exception  of  the  case  prescribed  in  article  20,  the  Company  shall  in  no  way  be  responsible  for  any  errors  in  the  statements  made  or  any  discrepancies  between  the  catalogue  descriptions  and  the  actual  object  .  Prospective  bidders  shall  inspect  and  examine  the  actual  objects  at  the  above  mentioned  preview  and  shall  place  a  bid  at  their  own  examination  and  on  their  own  responsibility,  having  formed  their  own  judgment  with  respect  to  the  matters  contained  in  the  descriptions  and  comments. (4)  The  Company  may  publish  the  appraised  value  of  the  Lot  in  its  catalogues.  The  appraised  value  is  given  as  the  range  between  a  high  DQG ORZ ¿JXUH GHVLJQDWHG LQ +.' DQG GRHV QRW LQFOXGH WKH EX\HUœV premium).  The  appraised  value  shall  appear  solely  for  the  reference  of  prospective  bidders  based  on  what  the  Company  considers  appropriate,  taking  factors  such  as  present  market  conditions  into  account.  In  view  of  the  very  nature  of  an  auction,  the  actual  sales  price  shall  in  no  way  be  determined  by  the  appraised  value.  Therefore  the  actual  price  may  be  either  more  or  less  than  the  appraised  value.  However,  no  sale  shall  EH PDGH DW D SULFH EHORZ WKH UHVHUYH SULFH ZKLFK VKDOO EH FRQ¿GHQWLDO and  which  need  not  be  less  than  the  appraised  value)  provided  for  in  Article  22.

Changes  to  Catalogue  Entries Article  5. Descriptions  and  comments  in  the  catalogues  are  subject  to  change  without  notice.  Any  change  shall  be  posted  in  writing  at  the  auction  site  or  announced  orally  by  the  auctioneer  immediately  before  the  auction  of  the  Lot  in  question.  In  the  case  of  any  changes,  the  auction  shall  be  regarded  as  having  been  conducted  according  to  the  terms  as  changed.

Section  II  AUCTION  PROCEDURES Bidder  Registration  Article  6. Article  6. (1)  Any  person  who  wishes  to  be  admitted  to  the  auction  site  and  to  place  a  bid  must  register  his  name  (in  the  case  of  a  corporation,  the  names  of  the  corporation  and  its  representative)  and  address.  If  he  acts  as  an  agent  or  messenger  for  a  principal  (including  a  person  who  places  a  bid  for  a  corporation,  the  same  shall  apply  hereafter),  he  must  register  the  name  and  address  of  his  principal  and  his  own  name  and  address.  Any  agent  or  messenger  shall  submit  a  proxy  from  the  principal  (Paragraph  5  of  Article  8  below  shall  be  applied  for  an  agent  or  a  messenger).  Registration  shall  be  conducted  prior  to  the  date  of  auction. 7KH &RPSDQ\ PD\ IURP WLPH WR WLPH UHTXHVW DSSURSULDWH LGHQWL¿FDWLRQ from  persons  who  wish  to  register.


(3)  The  Company  may,  at  its  absolute  discretion  and  without  explanation,  refuse  to  allow  any  person  to  register  or  refuse  to  admit  any  person  to  the  auction  site,  including  persons  who  have  completed  registration. 3HUVRQV ZKR KDYH UHJLVWHUHG LQ DGYDQFH VKDOO REWDLQ FRQ¿UPDWLRQ RI their  registration  at  the  reception  desk  on  the  day  of  the  auction.

Bidding  Paddles Article  7. (1)  The  Company  shall  distribute  numbered  paddles  to  registered  persons  at  the  reception  desk  on  the  day  of  the  auction.  (2)  The  numbers  on  the  paddles  allow  the  auctioneer  to  identify  individual  bidders.  If  the  auctioneer  asks  a  bidder  to  make  his  paddle  easily  visible,  the  bidder  shall  comply  with  the  auctioneer’s  instruction. (3)  A  bidder  shall  at  all  times  remember  his  paddle  number  and  pay  attention  to  the  numbers  which  the  auctioneer  calls  from  time  to  time. (4)  Any  person  who  has  received,  but  subsequently  misplaced  his  paddle  shall  immediately  inform  the  clerk  in  charge  of  the  particular  auction  site.  Furthermore,  any  person  who  has  received  a  paddle  shall  return  it  when  the  auction  is  closed  or  anytime  he  leaves  the  auction  site.

Method  of  Auction Article  8. (1)  The  auction  shall  be  presided  over  by  an  auctioneer  appointed  by  the  Company  and  conducted  as  a  series  of  progressively  higher  bids  in  the  manner  described  below.  The  bid  price  shall  not  include  the  buyer’s  premium.  A  bidder  agrees  to  pay  to  the  Company  upon  the  conclusion  of  any  sale  the  premium,  as  prescribed  in  Article  13.

(10)  Any  person  who  has  placed  a  bid  shall  be  bound  by  that  bid  until  a  higher  one  is  placed  (including  a  bid  by  the  Company  as  referred  to  in  Paragraph  8).  If  a  higher  bid  is  placed,  the  previous  bid  shall  become  null  and  void,  except  if  the  higher  bid  shall  be  invalidated  due  to  a  refusal  by  the  auctioneer  or  other  circumstances  in  which  case  the  previous  bid  shall  remain  binding. (11)  A  bid  shall  also  become  null  and  void  if  it  is  refused  by  the  auctioneer,  or  if  the  auction  closes  without  reaching  the  reserve  price,  or  if  the  relevant  Lot  is  put  up  for  re-­auction  by  the  auctioneer. (12)  When  the  auctioneer  calls  the  highest  bid  price  which  he  has  recognized  from  among  the  bid  prices  three  times  and  lets  the  hammer  fall,  a  contract  of  sale  for  the  highest  bid  price  shall  take  effect  between  the  Company  and  the  highest  bidder,  who  shall  then  become  the  purchaser.  A  bidder  who  has  become  a  purchaser  as  above  shall  be  hereinafter  referred  to  as  â€œthe  successful  bidderâ€?  and  the  price  shall  be  hereinafter  referred  to  as  â€œhammer  priceâ€?. (13)  If  the  highest  bidder  wishes  to  withdraw  his  bid  before  the  hammer  falls,  the  decision  whether  the  highest  bidder  or  the  next  highest  bidder  shall  become  the  purchaser  is  at  the  absolute  discretion  of  the  auctioneer. (14)  Any  question  or  dispute  concerning  the  auction  shall  be  settled  by  the  auctioneer  at  his  absolute  discretion,  and  all  parties  involved  shall  abide  by  his  absolute  decision.  Where  a  question  or  dispute  arises,  the  auctioneer  at  his  absolute  discretion,  may:  refuse  a  bid,  decide  the  highest  bidder,  continue  the  auction  and  accept  further  bids,  or  declare  all  previous  bids  on  the  Lot  in  question  null  and  void  and  put  the  Lot  up  for  reauction. (15)  No  one  shall  be  permitted  to  make  any  protest  once  the  successful  bidder  has  been  decided  and  the  auctioneer  has  begun  the  auction  of  the  next  Lot.

(2)  The  Company  shall  not  announce  the  name  of  a  consignor  or  the  reserve  price  if  the  reserve  price  has  been  placed  according  to  Article  22,  except  where  the  consignor’s  consent  has  been  obtained.

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(3)  The  auction  shall  progress  in  sequence  following  the  numbers  of  the  Lot  (“lot  numberâ€?)  in  the  catalogue.  However,  the  Company  may  withdraw  a  scheduled  Lot  from  the  auction  without  prior  notice,  or  auction  separately  a  number  of  Lots  originally  listed  under  the  same  lot  number,  or  auction  altogether  Lots  originally  listed  under  several  lot  numbers.

(1)  At  the  auction  site  immediately  after  the  conclusion  of  the  sale,  the  VXFFHVVIXO ELGGHU VKDOO DIWHU FRQ¿UPLQJ WKH /RW QXPEHU DQG WKH KDPPHU SULFH GHVFULEHG LQ WKH FRQ¿UPDWLRQ RI ELG DI¿[ KLV VLJQDWXUH RU VHDO WR WKH FRQ¿UPDWLRQ RI ELG XSRQ WKH GHPDQG RI WKH &RPSDQ\ ,I WKH bidder  is  a  corporation,  the  person  acting  as  the  agent  or  messenger  RI WKH FRUSRUDWLRQ VKDOO VWDWH WKH QDPH RI WKH FRUSRUDWLRQ DQG DI¿[ KLV signature  or  seal.  Provided,  however,  that  any  sale  shall  be  concluded  at  WKH WLPH RI WKH IDOO RI WKH DXFWLRQHHUœV KDPPHU DQG WKDW WKH FRQ¿UPDWLRQ of  bid  shall  be  made  solely  for  record  purposes.

(4)    The  auctioneer  shall  have  absolute  discretion  in  the  conduct  of  the  auc  t  ion  and  shall  be  completely  free  to  set  the  opening  bid  and  the  increment  of  each  successive  bid.  (Where  the  reserve  price  has  been  placed  according  to  Article  22,  the  opening  bid  shall  be  set  regardless  of  the  reserve  price  and  may  fall  below  or  exceed  it). (YHU\ ELGGHU VKDOO EH GHHPHG WR DFW DV SULQFLSDO XQOHVV KH KDV QRWL¿HG the  Company  that  he  acts  as  an  agent  or  messenger  for  another  party  for  which  the  Company  has  given  approval.  Furthermore,  two  or  more  persons  shall  not  be  permitted  to  bid  under  a  joint  name. (6)    Bids  can  be  made  by  raising  a  paddle  or  by  gesture  (such  as  signs,  gestures,  nodding  of  the  head).  If  the  auctioneer  appears  to  have  overlooked  a  bid,  the  bidder  shall  immediately  attempt  to  get  his  attention. (7)    Bids  may  be  placed  in  writing  or  by  telephone  or  by  the  Internet  Bid  System  as  well  as  by  personal  attendance  at  the  auction.  Bids  in  writing  shall  be  subject  to  Article  10,  those  by  telephone  subject  to  Article  11,  and  by  the  Internet  Bid  System  subject  to  Article  12. 7KH &RPSDQ\ VKDOO LQ RUGHU WR DWWDLQ WKH UHVHUYH SULFH GH¿QHG LQ $UWLFOH 22,  bid  on  behalf  of  the  consignor  until  a  bid  from  another  bidder  reaches  or  exceeds  the  reserve  price.  It  may  do  so  either  through  the  auctioneer  or  in  any  other  manner  the  Company  may  deem  appropriate  at  its  absolute  discretion.

Article  9.

,I WKH VXFFHVVIXO ELGGHU IDLOV WR DI¿[ KLV VLJQDWXUH RU VHDO WR WKH FRQ¿UPDWLRQ RI ELG LPPHGLDWHO\ LQ DFFRUGDQFH ZLWK WKH SUHFHGLQJ Paragraph,  the  auctioneer  may,  at  his  absolute  discretion,  rescind  the  sale  forthwith  and  place  the  Lot  in  question  up  for  re-­auction.  In  such  case,  sub-­Paragraph  (4)  of  Article  19  shall  apply  mutatis  mutandis. (3)  The  Company  shall  deliver  to  the  successful  bidder  a  lot  exchange  VOLS DIWHU KH KDV DI¿[HG KL V V LJQDWXUH RU VHDO WR WKH FRQ¿UPDWLRQ RI bid.  The  successful  bidder  shall,  upon  receipt  of  the  Lot,  deliver  to  the  Company  the  lot  exchange  slip.  The  lot  exchange  slip  shall  operate  VROHO\ DV D FHUWL¿FDWH RI GLVFKDUJH DQG VKDOO VHUYH QR RWKHU SXUSRVH The  same  shall  apply  for  the  lot  exchange  slip  as  referred  to  in  Articles  10,  11  and  12.

Bids  in  Writing  â€“  Order  bids Article  10. (1)  A  bid  may  be  placed  in  writing  or  by  facsimile  in  advance.  A  bid  placed  in  writing  or  by  facsimile  shall  be  hereinafter  referred  to  as  a  â€œwritten  bid.â€?

(9)  The  auctioneer  may,  at  his  absolute  discretion,  refuse  any  bid  without  explanation.

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(2)  A  written  bid  shall  be  submitted  to  the  Company  at  least  one  working  day  before  the  auction  by  describing  therein  accurately  the  name  (in  the  case  of  a  corporation,  the  names  of  the  corporation  and  its  representative)and  address  of  bidder,  the  lot  number,  and  the  maximum  bid  price  the  bidder  is  willing  to  place  (excluding  the  buyer’s  SUHPLXP DQG E\ DIÂż[LQJ WKH VLJQDWXUH RU VHDO RI WKH ELGGHU WR WKH same.  A  written  bid  that  does  not  include  a  maximum  bid  price  shall  be  deemed  invalid. (3)  The  Company  shall  bid  on  behalf  of  any  person  who  has  placed  a  written  bid,  and  may  do  so  either  through  the  auctioneer  or  in  any  other  manner  the  Company  may  deem  appropriate  at  its  absolute  discretion. (4)  A  person  who  has  placed  a  written  bid  may  become  the  successful  bidder  if  his  maximum  bid  price  exceeds  both  the  highest  bid  price  of  other  bidders  and  the  reserve  price,  in  which  case  the  hammer  price  shall  be  equal  to  the  second  highest  bid  price  or  the  reserve  price,  whichever  is  higher,  plus  an  appropriate  increment  decided  by  the  auctioneer.  In  such  a  case,  as  is  the  case  with  a  bid  in  person  at  the  auction  site,  the  sales  contract  shall  be  concluded  at  the  time  when  the  auctioneer  decides  the  purchaser  by  hammering  the  Lot  down  to  the  highest  bidder.  (5)  If  two  or  more  written  bids  for  the  same  Lot  offer  the  same  price,  SUHFHGHQFH VKDOO EH JLYHQ WR ZKLFKHYHU ZDV UHFHLYHG ÂżUVW E\ WKH Company.  If  two  or  more  such  bids  are  received  at  the  same  time  and  the  Lot  in  question  is  knocked  down  at  the  bid  price  described  under  the  preceding  Paragraph,  the  successful  bidder  shall  be  decided  by  lottery  later. (6)  The  Company  reserves  the  right  to  refuse,  at  its  absolute  discretion  and  without  explanation,  any  written  bid,  and  the  Company  shall  in  no  way  EH OLDEOH IRU DQ\ IDLOXUH RI WKH QRWLÂżFDWLRQ RI LWV LQWHQWLRQ WR UHIXVH WKH bid  to  reach  the  bidder. (7)  The  Company  shall  in  no  way  be  liable  for  failure  to  execute  a  written  bid  at  the  auction,  whether  through  error  or  any  other  cause  (including  a  case  in  which  the  Company  fails  to  execute  a  written  bid  under  the  events  outlined  in  Paragraph  3  of  Article  8). (8)  In  the  case  of  changes  in  catalogue  descriptions  or  comments  in  catalogues  as  outlined  in  Article  5,  any  written  bid  shall  be  deemed  as  having  been  placed  according  to  the  terms  of  the  changed  description  and  comments.  The  Company  shall  do  its  best  to  notify  written  bidders  of  any  relevant  changes,  but  it  shall  in  no  way  be  liable  if  such  QRWLÂżFDWLRQ IDLOV WR UHDFK WKH ZULWWHQ ELGGHUV LQ DGYDQFH (9)  The  Company  shall  promptly  notify  any  written  bidder  of  his  having  become  a  successful  bidder.  Immediately  upon  receipt  of  such  notice,  WKH VXFFHVVIXO ELGGHU VKDOO GHOLYHU WR WKH &RPSDQ\ D FRQÂżUPDWLRQ RI ELG WR ZKLFK KH KDV DIÂż[HG KLV VLJQDWXUH RU VHDO LQ WKH FDVH RI D FRUSRUDWLRQ WKH QDPHV RI WKH FRUSRUDWLRQ DQG LWV UHSUHVHQWDWLYH DIWHU FRQÂżUPLQJ WKH /RW QXPEHU DQG WKH KDPPHU SULFH VHW IRUWK LQ WKH FRQÂżUPDWLRQ RI bid.  Provided,  however,  that  any  sale  shall  be  concluded  at  the  time  RI WKH IDOO RI WKH DXFWLRQHHUÂśV KDPPHU DQG WKDW WKH FRQÂżUPDWLRQ RI ELG shall  be  made  solely  for  record  purposes.

Telephone  Bids Article  11. (1)  Bids  may  be  placed  through  telephones  installed  at  the  auction  site. (2)  Any  person  who  intends  to  place  bids  by  telephone  shall  apply  to  the  Company  in  advance  and  shall  be  subject  to  the  Company’s  instructions  .  In  such  case,  Paragraph  6  of  Article  10  shall  apply  mutatis  mutandis. (3)  The  Company  shall  in  no  way  be  liable  for  failure  to  execute  a  telephone  bid  at  the  auction,  whether  through  error  or  any  other  cause  (including  a  case  in  which  the  Company  fails  to  execute  a  telephone  bid  under  the  events  outlined  in  Paragraph  3  of  Article  8),  even  if  the  bidder  has  already  applied  to  bid  by  telephone  and  his  application  has  been  approved  by  the  Company.

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(4)  When  a  person  who  has  placed  a  bid  by  telephone  has  become  a  successful  bidder,  the  successful  bidder  shall  immediately  deliver  to  WKH &RPSDQ\ D FRQÂżUPDWLRQ RI ELG WR ZKLFK KH KDV DIÂż[HG KLV VLJQDWXUH or  seal  (in  the  case  of  a  corporation,  the  names  of  the  corporation  and  LWV UHSUHVHQWDWLYH DIWHU FRQÂżUPLQJ WKH /RW QXPEHU DQG WKH KDPPHU SULFH VHW IRUWK LQ WKH FRQÂżUPDWLRQ RI ELG 3URYLGHG KRZHYHU WKDW any  sale  shall  be  concluded  at  the  time  of  the  fall  of  the  auctioneer’s  KDPPHU DQG WKDW WKH FRQÂżUPDWLRQ RI ELG VKDOO EH PDGH VROHO\ IRU UHFRUG purposes.  Thereafter  the  Company  shall  deliver  a  lot  exchange  slip.  The  successful  bidder  shall,  upon  the  receipt  of  the  Lot,  deliver  to  the  Company  the  lot  exchange  slip.

Internet  Bid  System Article  12. (1)  Bids  may  be  placed  through  the  Internet  Bid  System  provided  by  the  Company  on  site  (hereinafter  referred  to  as  the  â€œInternet  Bid  Systemâ€?). (2)  Any  person  who  intends  to  place  an  internet  bid  must  apply  for  registration  of  necessary  items  via  internet  system  at  least  three  working  days  before  the  auction.  The  Company  may,  at  its  absolute  discretion  and  without  explanation,  refuse  to  allow  any  person  to  register. (3)  The  Company  shall  distribute  a  numbered  paddle  and  password  to  a  registered  person  in  order  to  place  an  internet  bid  (hereinafter  referred  to  as  an  â€œInternet  Bidderâ€?)  in  accordance  with  the  preceding  Paragraph.  An  Internet  Bidder  agrees  that  time  is  required  for  the  distribution  of  such  numbered  paddles  and  passwords  in  advance.  The  Company  shall  in  no  way  be  liable  for  any  damage  occasioned  by  delay  or  failure  to  complete  distribution  of  the  numbered  paddles  and  passwords. (4)  The  Company  reserves  the  right  to  refuse,  at  its  absolute  discretion  and  without  explanation,  any  internet  bid,  and  the  Company  shall  in  no  way  EH OLDEOH IRU DQ\ IDLOXUH RI QRWLÂżFDWLRQ RI LWV LQWHQWLRQ WR UHIXVH WKH ELG to  reach  the  bidder. (5)  The  Company  shall  in  no  way  be  liable  for  failure  to  execute  an  internet  bid  at  the  auction,  whether  through  error,  accident  or  obstacle  by  QHWZRUN HTXLSPHQW LOOHJDO DFFHVV IDOVLÂżFDWLRQ RU DQ\ RWKHU FDXVH (including  a  case  in  which  the  Company  fails  to  execute  an  internet  bid  under  the  events  outlined  in  Paragraph  3  of  Article  8),  and  shall  not  be  required  to  provide  any  alternate  method. (6)  In  the  case  of  changes  in  catalogue  descriptions  or  comments  in  catalogues  as  outlined  in  Article  5,  any  internet  bid  shall  be  deemed  as  having  been  placed  according  to  the  terms  of  the  changed  description  and  comments.  The  Company  shall  do  its  best  to  notify  the  Internet  Bidders  of  any  relevant  changes,  but  it  shall  in  no  way  be  liable  if  such  QRWLÂżFDWLRQ IDLOV WR UHDFK WKH ,QWHUQHW %LGGHUV LQ DGYDQFH (7)  The  Company  shall  in  no  way  be  liable  for  accident  or  obstacles  LQYROYLQJ QHWZRUN HTXLSPHQW LOOHJDO DFFHVV IDOVLÂżFDWLRQ RU RWKHU matters  that  happen  to  an  Internet  Bidder  in  placing  or  attempting  to  place  an  internet  bid. (8)  The  Company  shall  in  no  way  be  liable  for  an  Internet  Bidder’s  loss  of  a  numbered  paddle  or  password  or  the  diversion  of  such  items  to  a  third  party. (9)  When  a  person  who  has  placed  a  bid  by  Internet  Bid  System  has  become  a  successful  bidder,  the  successful  bidder  shall  immediately  GHOLYHU WR WKH &RPSDQ\ D FRQÂżUPDWLRQ RI ELG WR ZKLFK KH KDV DIÂż[HG his  signature  or  seal  (in  the  case  of  a  corporation,  the  names  of  the  FRUSRUDWLRQ DQG LWV UHSUHVHQWDWLYH DIWHU FRQÂżUPLQJ WKH /RW QXPEHU DQG WKH KDPPHU SULFH VHW IRUWK LQ WKH FRQÂżUPDWLRQ RI ELG 3URYLGHG however,  that  any  sale  shall  be  concluded  at  the  time  of  the  fall  of  the  DXFWLRQHHUÂśV KDPPHU DQG WKDW WKH FRQÂżUPDWLRQ RI ELG VKDOO EH PDGH solely  for  record  purposes.  Thereafter,  the  Company  shall  deliver  a  lot  exchange  slip.  The  successful  bidder  shall,  upon  the  receipt  of  the  Lot,  deliver  to  the  Company  the  lot  exchange  slip.


Section  III  SUCCESSFUL  BIDDER Purchase  Price Article  13. The  successful  bidder  shall  pay,  in  addition  to  the  hammer  price,  an  amount  HTXLYDOHQW WR RI WKH ÂżUVW +.' RI WKH KDPPHU SULFH DQG 12%  on  the  amount  by  which  the  hammer  price  exceeds  4,000,000.  HKD  as  the  buyer’s  premium.  (The  combined  sums  of  the  hammer  price  and  the  buyer’s  premium  shall  hereinafter  be  referred  to  as  â€œthe  purchase  price.â€?)

Payment  Period  of  Purchase  Price

(4)  The  successful  bidder  may  inspect  the  Lot  at  the  time  he  receives  the  Lot.  Regardless  of  whether  the  successful  bidder  actually  inspects  the  Lot,  when  the  Company  delivers  the  Lot  to  the  successful  bidder  (or  to  his  agent  or  messenger,  or  to  a  carrier),  the  successful  bidder  shall  neither  make  any  claim  against  the  Company  nor  terminate  the  sales  contract  for  any  mistake  in  the  Lot  he  has  received,  or  for  any  damage  or  soiling  thereof  after  the  time  of  delivery.  This  provision  shall  not  prevent  the  Company  from  requiring  the  return  of  any  object  that  the  Company  has  mistakenly  delivered. (5)  The  successful  bidder  shall,  upon  receipt  of  the  Lot,  deliver  to  the  Company  the  Lot  exchange  slip.  When  the  Company  receives  the  Lot  exchange  slip,  the  Company  shall  be  relieved  of  any  liability  even  if  a  party  other  than  the  successful  bidder  receives  the  Lot.

Article  14. The  successful  bidder  shall  pay  the  purchase  by  7th  December  2012.  Such  period  shall  be  hereinafter  referred  to  as  â€œthe  payment  periodâ€?.  Payment  will  only  be  accepted  during  the  Company’s  hours  of  business.  Payments  shall  be  made  in  HKD  by  remittance  transferred  to  the  following  company’s  accounts  (in  which  case  the  remittance  must  reach  the  designated  account  within  the  payment  period). Account  Name  :  ONE  EAST  LARASATI  HK  LIMITED  Bank  Name:  The  Hongkong  and  Shanghai  Banking  Corp.  Ltd.  Hong  Kong  Address:   1  Queen’s  Road  Central,  Hong  Kong  Account  Number:  808-­515266-­001  Swift  Code:  HSBCHKHHHKH Account  Name:  Bank  Name:  Korea  Address:  Account  Number:  Swift  Code: Â

K  Auction  Hana  Bank  (Jungang  Corporate  Banking  Division)  77  Mugyo-­dong,  Jung-­gu,  Seoul,  Korea,100-­775  196-­910003-­33032  HNBNKRSE

Risk  of  Loss  and  Transfer  of  Ownership Article  16. (1)  The  successful  bidder  shall  bear  any  risk  of  loss  of  the  Lot  after  the  conclusion  of  sale  (when  the  auctioneer  hammers  the  Lot  down  to  the  highest  bidder),  which  means  that  the  successful  bidder  shall  bear  any  loss,  destruction,  theft,  damage,  or  soiling  of  the  Lot  not  attributable  to  impropriety  by  the  Company. (2)  Ownership  of  the  Lot  shall  not  be  transferred  to  the  successful  bidder  until  he  pays  the  total  amount  due  in  full  and  the  Company  delivers  the  Lot  to  him.  Ownership  shall  be  transferred  to  the  successful  bidder  at  the  time  of  the  delivery  of  the  Lot  after  the  total  amount  due  has  been  paid  in  full.

Miscellaneous  Expenses

Account  Name:   Asian  Art  Auction  Alliance  Company  Limited  Bank  Name:  The  Hongkong  and  Shanghai  Banking  Corp.  Ltd.  Hong  Kong  Address:   1  Queen's  Road  Central,  Hong  Kong  Account  Number:  640-­089389-­838  Swift  Code:  HSBCHKHHHKH Â

Article  17.

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(2)  If  the  successful  bidder  is  unable  to  receive  the  Lot  within  the  payment  period,  he  shall  pay  all  storage  and  insurance  charges  from  the  expiration  of  the  payment  period  until  the  time  the  bidder  receives  the  Lot.  In  any  such  case,  the  Company  shall  not  be  required  to  take  out  insurance.

Delivery Article  15. (1)  The  Company  shall  deliver  the  Lot  to  the  successful  bidder  after    the  purchase  price  has  been  paid  in  full.  Provided,  however,  that  if    the  successful  bidder  owes  any  debts  to  the  Company  that  have   IDOOHQ GXH LQFOXGLQJ PLVFHOODQHRXV H[SHQVHV GHÂżQHG LQ 3DUDJUDSK   3  of  Article  17),  the  Company  shall  not  deliver  the  Lot  until  the   SXUFKDVH SULFH DQG DOO VXFK GHEWV KDYH EHHQ IXOÂżOOHG 7KH SXUFKDVH   price  and  all  other  debts  owing  to  the  Company  that  have  fallen  due    shall  be  hereinafter  called  as  â€œthe  total  amount  due.â€? (2)  The  successful  bidder  shall  receive  the  Lot  within  the  payment  period  after  having  paid  in  full  the  total  amount  due. (3)  The  place  of  the  delivery  of  the  Lot  shall  be  at  the  premises  of  the  Company,  and  any  expenses  for  receipt  of  the  Lot  shall  be  borne  by  the  successful  bidder.  The  Company  shall  in  no  way  be  liable  for  any  accidents  to  the  Lot  (including  destruction,  loss,  theft,  damage,  or  soiling)  after  the  time  of  delivery  (which  shall  mean  the  time  at  which  the  Company  delivers  the  Lot  to  the  successful  bidder,  to  his  agent  or  messenger,  or  to  a  carrier  at  the  Company).  If  the  Company  arranges  a  carrier  upon  request  of  the  successful  bidder,  such  arrangement  is  made  solely  as  a  courtesy,  and  the  successful  bidder  shall  take  out  appropriate  insurance.  The  Company  shall  in  no  way  be  liable  for  any  accidents  (including  destruction,  loss,  theft,  damage,  or  soiling)  after  the  time  of  delivery  or  for  its  selection  of  carrier.  The  successful  bidder  shall  -­  at  his  own  judgment,  responsibility,  and  expense  -­  make  such  packaging  as  he  shall  deem  proper.  The  Company  may,  before  delivering  the  Lot,  pack  the  Lot  in  a  manner  it  deems  appropriate,  but  this  is  intended  solely  as  a  courtesy,  and  the  Company  shall  in  no  way  be  liable  for  such  packaging.

(1)  The  successful  bidder  shall  not  be  required  to  pay  any  storage  or  insurance  charges  for  the  duration  of  the  payment  period  (or  if  the  Company  delivers  the  Lot  before  the  expiration  of  the  payment  period,  until  the  time  of  the  delivery).

(3)  The  storage  and  insurance  charges  to  be  borne  by  the  successful  bidder  shall  be  referred  to  as  â€œmiscellaneous  expenses.â€?

Stolen  and  Lost  Property Article  18. If,  before  the  delivery  of  the  Lot,  a  third  party  claims  that  the  Lot  is  lost  or  stolen  property  of  which  he  is  the  rightful  owner  and  demands  its  restoration,  or  if  it  is  discovered  that  the  Lot  is  of  a  type  whose  sale  or  possession  is  prohibited  by  law,  the  Company  may  rescind  the  sale  without  notice.  In  any  such  case,  if  the  Company  has  received  payment  of  the  purchase  price,  it  shall  refund  the  purchase  price  without  interest,  and  the  successful  bidder  shall  not  make  any  further  claims  against  the  Company,  including  any  claim  for  damages.

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Default  of  successful  bidder Article  19. If  the  successful  bidder  fails  to  pay  the  total  amount  due  within  the  payment  period,  the  following  sub-­  Paragraphs  shall  apply: (1)  The  successful  bidder  shall  pay  damages  for  delay  at  an  annual  rate  of  18%,  on  the  unpaid  amount  of  the  purchase  price  from  the  day  following  the  expiration  of  the  payment  per  iod  until  the  total  amount  due  (including  all  miscellaneous  expenses)  is  paid  in  full  (or,  if  the  contract  is  terminated  in  accordance  with  sub-­Paragraph  (3)  hereof,  until  the  day  of  termination). (2)  The  Company  shall  at  its  absolute  discretion  take  custody  of  the  Lot  in  whatever  manner  it  deems  appropriate  after  the  expiration  of  the  payment  period.  The  Company  shall  in  no  way  be  liable  for  destruction,  loss,  theft,  damage  or  soiling  of  the  Lot  for  any  reason  whatsoever  prior  to  the  receipt  by  the  bidder  of  the  Lot,  nor  shall  the  bidder  be  relieved  of  any  obligation  to  pay  the  total  amount  due.  The  Company  shall  not  be  required  to  insure  the  Lot  for  such  period.

Guarantee  of  Authenticity  and  Forgery Article  20. If  the  Company’s  catalogues  identify  the  artist  of  the  Lot  conclusively  DQG ZLWKRXW TXDOLÂżFDWLRQ WKLV H[FOXGHV DQ\ FDWDORJXH HQWU\ WKDW VWDWHV that  there  is  disagreement  as  to  the  artist  or  indicates  that  attribution  is  VSHFXODWLYH RU LPSOLHV WKDW WKH DUWLVW FDQQRW EH LGHQWLÂżHG DQG LW LV ODWHU established  to  the  satisfaction  of  the  Company  that  the  Lot  is  not  the  work  of  the  artist,  the  Company  shall  at  the  request  of  the  successful  bidder  terminate  the  sales  contract  and  refund  the  purchase  price  subject  to  the  following  sub-­  Paragraphs:

Asian  Art  Auction  Alliance: (1)  The  successful  bidder  may  claim  a  refund  only  if,  within  (and  only  ZLWKLQ ¿YH \HDUV RI WKH GD\ RI WKH DXFWLRQ KH VXEPLWV WR WKH &RPSDQ\ D GRFXPHQW WKDW VDWLV¿HV WKH &RPSDQ\ DV WR WKH GD\ RI WKH DXFWLRQ WKH Lot  number,  the  hammer  price,  and  proof  that  the  Lot  is  not  the  work  of  the  artist  to  whom  it  is  attributed  in  the  catalogue.  Only  the  successful  bidder  (not  a  general  or  limited  successor)  may  make  such  a  claim,  and  the  right  may  not  be  transferred  to  a  third  party. (2)  No  termination  and  refund  shall  be  made  if  the  catalogue  attribution  was  one  generally  accepted  in  scholarly  or  specialist  circles  at  the  time  of  the  auction,  or  if  the  mistake  in  attribution  was  establ  ished  by  a  method  RI VFLHQWL¿F DQDO\VLV WKDW ZDV XQFRPPRQ RU XQNQRZQ DW WKH WLPH RI WKH auction,  or  if  the  analysis  can  only  be  performed  at  great  expense,  or  if  the  analysis  involves  damage  to  the  object  and  is  therefore  rarely  used. (3)  The  successful  bidder  shall  make  any  claim  wi  thin  three  months  of  the  date  that  he  learned  that  the  Lot  was  not  the  work  of  the  artist  to  whom  it  was  attributed  in  the  catalogue  (and  must  also  submit  proof  of  WKDW GDWH EXW LQ DQ\ FDVH ZLWKLQ WKH ¿YH \HDU SHULRG VSHFL¿HG LQ VXE Paragraph  (1)  of  this  Article. (4)  A  termination  and  refund  shall  be  made  only  if  the  successful  bidder  is  in  complete  ownership  of  the  Lot  and  transfers  the  ownership  in  its  entirely  to  the  Company,  and  only  if  the  Lot  is  returned  to  the  Company  in  the  same  condition  as  it  was  at  the  time  of  the  auction.  Prov  ided,  however,  that  the  Company  shall  be  under  no  further  obligation  to  pay  interest,  damage,  or  compensation  of  any  kind  of  beyond  the  refund.

K-­Auction: . $XFWLRQ VKDOO ZDUUDQW HDFK LWHP VSHFL¿HG RQ WKH FDWDORJXHV XQGHU WKH following  provision  and  conditions: :DUUDQW\ DQG /LPLWDWLRQ RI :DUUDQW\ . $XFWLRQ VKDOO LVVXH D FHUWL¿FDWH of  authenticity  within  the  limitation  of  warranty  after  the  completion  of  the  auction  if  the  Buyer  wants.

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K-­Auction  shall  only  warrant  the  boldly  printed  titles  on  the  catalogues.  That  is,  K-­Auction  shall  not  warrant  to  the  supplementary  explanations  or  other  information  provided  by  the  off  icers  and  employees  of  . $XFWLRQ YHUEDOO\ RU LQ ZULWLQJ ZLWK UHVSHFW WR WKH LWHPV VSHFL¿HG RQ the  categories  other  than  the  boldly  printed  titles  on  the  catalogues.  They  are  reference  materials  only  that  can  be  amended  and  are  not  the  warranties.

(2)  Warranty  Period  and  Liabilities  K-­Auction  shall  warrant  the  auction  items  for  not  more  than  three  (3)  years  from  the  date  when  successful  bid  is  made.  When  the  warranty  is  proven  erroneous  during  the  above  period,  the  sales  and  purchase  shall  be  cancelled,  and  the  hammer  price  and  the  commission  shall  be  returned  to  the  Buyer.  In  such  case,  the  Buyer  shall  send  a  written  notice  to  request  the  transaction  cancellation  within  the  warrant  period,  and  K-­Auction  may  request  IURP WKH %X\HU D ZULWWHQ RSLQLRQ RI WZR H[SHUWV LQ WKH UHODWHG ÂżHOG mutually  recognized  by  K-­Auction,  the  Buyer  and  the  Consignor,  before  determines  such  warranty. (3)  Exemption  of  Warranty  In  each  of  the  following  events,  the  warranty  shall  be  exempted: (i)  When  an  opinion  on  auction  item  is  an  expert’s  general  opinion  at  the  time  of  the  auction,  however,  such  opinion  is  changed  or  there  is  a  FRQĂ€LFW LQ RSLQLRQV WKHUHDIWHU RU LL :KHQ WKH FRQWHQWV RI WKH ZDUUDQW\ is  proven  erroneous  in  a  new  method,  not  in  the  method  generally  used  at  the  time  of  the  auction. (4)  Liability  Limitation  of  Warranty  Transfer.  The  warranty  shall  be  also  DSSOLHG WR WKH ÂżUVW %X\HU DQG WKH VXEVHTXHQW %X\HU ZKR ZLOO DFTXLUH WKH ULJKW WR WKH LWHPV IURP WKH ÂżUVW %X\HU KLV RU KHU KHLUV RU VHFRQGDU\ Buyer).  However,  in  no  event,  the  warranty  liability  of  K-­Auction  shall  exceed  the  amount  actually  paid  by  the  Buyer.

One  East  Larasati: ,I ZLWKLQ VL[ PRQWKV RI WKH GDWH RI WKH DXFWLRQ WKH %X\HU VDWLVÂżHV XV WKDW the  Lot  is  a  Forgery,  with  the  condition  that  claim  must  be  accompanied  with  satisfactory  evidence  in  the  form  of  a  written  opinion  of  at  least  3  (three)  LQGHSHQGHQW H[SHUWV ZLWK NQRZOHGJH RQ WKH UHODWHG SURSHUW\ FRQÂżUPLQJ that  the  lot  is  a  forgery,  then: If  the  Buyer  at  that  time  has  not  yet  paid  the  full  amount  due,  we  shall  have  the  right  to  cancel  the  sale  and/or  if  the  Buyer  has  paid  the  full  amount  and  if  we  have  at  the  time  not  paid  the  seller  the  whole  or  part  of  the  full  amount  due  to  the  seller,  then  we  will  refund  to  the  Buyer  the  purchase  price  of  the  lot  and/or  If  the  Buyer  had  paid  the  full  amount  and  if  we  at  that  time  had  also  paid  the  Seller  the  whole  or  part  of  the  full  amount  due,  then  the  Seller  must  refund  to  us,  on  demand,  the  total  amount  paid.  We  shall  then  refund  the  total  amount  received  from  the  Seller  to  the  Buyer  plus  any  balance  due  to  the  Buyer  to  pay  back  the  full  purchase  price  of  the  lot.  The  Buyer  does  not  reserve  the  right  to  claim  any  interests  on  the  purchase  price  paid  by  the  Buyer.  In  the  latter  case  we  shall  exercise  a  lien  over  any  property  of  the  Seller  under  our  control  as  security  for  the  amount  due.  We  reserve  the  right  to  seek  for  further  expert  opinion.  There  will  be  no  refund  if  there  is  D FRQĂ€LFW RI RSLQLRQ DPRQJ WKH UHODWHG H[SHUWV /DUDVDWL LV QRW UHVSRQVLEOH for  any  faults  or  defects  in  any  lot,  including  the  genuineness  of  the  work.

Section  IV  CONSIGNMENT Consignment Article  21. (1)  Any  person  who  intends  to  consign  a  Lot  to  the  Company  for  sale  by  auction  in  the  Company’s  name  shall  apply  for  sale  by  consignment  subject  to  The  Terms  and  Conditions  as  well  as  to  the  Agreement  on  6DOH E\ &RQVLJQPHQW DV VHSDUDWHO\ VSHFLÂżHG E\ WKH &RPSDQ\ (2)  The  consignor  shall  guarantee  to  the  Company  that  he  has  either  complete  ownership  of  the  Lot  to  be  consigned  or  the  legal  right  to  consign  the  Lot  for  sale  based  on  complete  ownership.


Reserve  Price

(3)  The  burden  of  proof  of  damage  or  soiling  shall  be  on  the  successful  bidder.

Article  22.

(4)  The  Company  shall  in  no  way  be  liable  for  its  custody  of  frames  and  glass,  and  shall  not  be  liable  for  any  destruction,  loss,  theft,  damage,  or  soiling  thereto.

(1)  The  consignor  may  place  a  reserve  price  (minimum  selling  price).  The  reserve  price  shall  be  designated  in  HKD. (2)  If  a  reserve  price  is  placed,  the  Company  shall  not  sell  the  Lot  at  a  price  OHVV WKDQ WKH UHVHUYH SULFH H[FHSW DV VSHFL¿HG LQ VXE 3DUDJUDSK of  Article  19. (3)  The  reserve  price  may  not  exceed  the  ceiling  price  of  the  appraised  value. (4)  The  reserve  price,  if  placed,  may  not  be  changed  without  the  consent  of  the  Company.

Withholding  of  Name Article  23. The  Company  shall  not  divulge  the  name  of  the  consignor  either  at  the  auction  or  in  the  catalogue  without  the  consent  of  the  consignor.

Section  V  MISCELLANEOUS Changes  to  Terms  and  Conditions Article  24.

(5)  The  amount  of  damages  to  be  paid  by  the  Company  under  this  Paragraph  shall  be  appropriated  by  insurance  money  to  be  received  by  the  Company  based  on  the  damage  insurance  contract  concluded  between  the  Company  and  the  insurance  company. (4)  Except  as  otherwise  provided  for  in  the  preceding  Paragraphs,  the  Company  shall  in  no  way  be  liable  for  any  damages  except  in  the  case  of  an  intentional  misconduct  or  gross  negligence  on  the  part  of  the  Company.  If  the  Company  is  to  be  liable  for  its  intentional  misconduct  or  gross  negligence,  the  extent  of  the  damages  shall  be  limited  to  direct  damage  and  the  Company  shall  not  provide  compensation  for  RWKHU PDWWHUV LQFOXGLQJ EXW QRW OLPLWHG WR GLPLQXWLRQ RI UH VDOH SUR¿WV or  pain  and  suffering,  etc.  The  extent  of  the  damages  in  the  case  of  destruction,  loss,  theft,  damage  or  soiling  of  the  Lot  shall  be  limited  WR WKH H[WHQW VSHFL¿HG LQ VXE 3DUDJUDSKV DQG RI WKH SUHFHGLQJ Paragraph.

4XDOL¿FDWLRQ UHVWULFWLRQ Article  27. (1)  The  Company  will  not  cooperate  or  do  business  with  any  person  or  entity  of  the  type  described  in  any  of  the  following  sub-­  Paragraphs.

The  Company  may  change  any  of  The  Terms  and  Conditions.  Any  such  changes  shall  be  announced  orally  by  the  auctioneer  on  the  day  of  the  DXFWLRQ LPPHGLDWHO\ EHIRUH ELGGLQJ EHJLQV IRU WKH ¿UVW /RW DQG VKDOO WDNH effect  forthwith.

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(1)  A  person  or  entity  that  has  the  intent  to  engage  in  any  activity     such  as  money  laundering;͞  or  that  raises  funds  making  use  of     illegal  or  improper  methods,  inappropriate  pressure,  or  violence,     or  any  fraudulent  technique  as  an  anti-­social  group  or  member.     (hereinafter  referred  to  as  an  antisocial  group  or  member)

Prohibition  of  Transfer  of  Rights

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(2)   A  person  or  entity  that  participates  in  an  auction  accompanied  by  an     anti-­social  group  or  member,  or  that  intends  to  let  an  anti-­social     group  or  member  participate  in  an  auction  by  introduction.

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(3)   A  corporation  in  which  a  director  or  auditor  belongs  to  an  anti-­social     group.

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(4)   A  person  or  entity  that  uses  threatening  behavior  or  violence  with     regard  to  business  with  the  Company.

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(5)   A  person  or  entity  that  damages  the  Company’s  trust  by  spreading  a    groundless  or  false  rumor;Íž  or  uses  trickery,  deception,  or     inappropriate  pressure;Íž  or  interferes  with  the  Company’s  activities     in  any  way.

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(6)   A  person  or  entity  that  does  not  adhere  to  The  Terms  and  Conditions     or  our  rules.

Article  25. No  right  or  position  in  regards  to  the  Company  under  The  Terms  and  Conditions  shall  be  transferred  or  be  provided  as  security.

Limitation  of  Liability Article  26. (1)  The  Company  shall  not  be  liable  for  any  damages  for  any  reason  in  the  case  that  The  Terms  and  Conditions  provide  for  non-­liability  of  the  Company. (2)  The  Company  shall  in  no  way  be  liable  for  any  damage  in  the  case  WKDW VXFK GDPDJHV DUH FDXVHG E\ ¿UH QDWXUDO GLVDVWHU ZDU WHUURULVP disturbance,  nuclear  fuels,  or  labor  disputes. (3)  If  the  Company  is  obliged  to  take  custody  of  the  Lot  for  the  successful  bidder  and  if  the  Lot  is  destroyed,  lost,  stolen,  damaged,  or  soiled  by  intentional  misconduct  or  negligence  by  the  Company  that  does  not  fall  under  any  of  the  previous  Paragraphs,  the  Company  shall  not  SURYLGH FRPSHQVDWLRQ IRU DQ\ GLPLQXWLRQ RI UH VDOH SUR¿WV RU SDLQ and  suffering,  or  other  damage.  In  the  case  of  destruction,  loss,  theft,  damage,  or  soiling  of  the  Lot,  the  Company  shall,  in  relation  to  the  successful  bidder,  be  subject  to  the  following: (1)  If  the  Lot  is  destroyed,  lost,  stolen,  or  seriously  damaged  or  soiled,  the  sales  contract  between  the  Company  and  the  successful  bidder  shal  l  automatically  be  terminated,  and  the  successful  bidder  shall  be  relieved  of  any  obligation  to  pay  the  purchase  price.  If  the  Company  has  already  received  the  purchase  price,  the  Company  shall  return  the  purchase  price  without  interest.  The  successful  bidder  may  not  claim  any  damages  whatsoever.  (2)  If  the  damage  to  or  soiling  of  the  Lot  is  not  serious,  the  Company  shall  reduce  the  purchase  price  in  proportion  to  the  degree  of  such  damage  or  soiling.  The  successful  bidder  may  not  claim  any  damages  whatsoever  beyond  the  reduction.

(2)  The  Company  shall  cancel  business  with  any  person  or  entity  that,  in  the  Company’s  sole  judgment,  meets  any  of  the  descriptions  in  the  Paragraph  above  and  shall  refuse  to  do  business  with  any  such  person  or  entity  now  and  in  the  future.

Applicable  Law Article  28. The  Terms  and  Conditions  shall  be  governed  by  and  interpreted  under  the  laws  of  the  Hong  Kong  Special  Administrative  Region,  and  any  matters  not  provided  for  herein  shall  be  subject  to  the  laws  of  the  Hong  Kong  Special  Administrative  Region.

Jurisdiction Article  29. Any  lawsuit  arising  under  this  agreement  shall  be  brought  exclusively  in  the  Court  of  the  Hong  Kong  Special  Administrative  Region.

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