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| Kim Whan-ki's 1971 painting 'Untitled' will be auctioned at Seoul Auction's 29th Hong Kong sale at Grand Hyatt Hong Kong, May 26. Courtesy of Seoul Auction |
By Kwon Mee-yoo
A rare red-dot painting by Kim Whan-ki (1913-74) will be auctioned this month, fueling speculation the sale could break the record for the most expensive Korean artwork.
Seoul Auction said Kim's 1971 painting "Untitled" would be auctioned at the company's 29th Hong Kong sale at the Grand Hyatt Hong Kong, May 26.
Kim, known for combining Korean lyricism with Western modernism, is one of the most highly-regarded Korean abstract artists. The artist already dominates the list of most expensive Korean artworks as his works occupy the top six posts. At No. 1 is the 1972 painting "3-II-72 #220," sold for 8.5 billion won ($7.1 million) at a Hong Kong sale in May 2018.
"Untitled," measuring 255 by 204 centimeters is filled with red dots with two blue color-fields on the top and in the lower left corner. The colors create contrast and tension.
Kim is mostly known for his signature style of abstract paintings with blue dots and white-edged squares, often dubbed "Whanki Blue."
According to the Seoul-based auction house, Kim created very few large full-canvas paintings with red dots. "Untitled," was painted in 1971, while Kim lived in New York, based on his diary.
"The fact that there are such a small number of paintings in this style makes this artwork all the more valuable," Seoul Auction said in a statement.
A total of 82 pieces will be up for auction. Other highlights include nine works by Lee U-fan ― ranging from his "From Line" and "From Winds" to "Correspondence" and "Relatum" series. A specially curated section "Now. K-Art" will feature works by young Korean artists such as Eddie Kang, Kim Sun-woo and actor-painter Ha Jung-woo.
Among international artists, Marc Chagall's whimsical blue painting "Le Couple dans la Nuit" and Jeff Koons' mirror sculpture-painting "Cow (Lilac)" from the Easyfun series are expected to fetch high prices.
Eleven Korean antique pieces from around the world will also look for new owners. The pieces, include "Blue & White Porcelain Brush Stand" from the 18th century Joseon era. The work was last auctioned by Christie's in New York in 2000.
