Sold for an astonishing $57.37 million in New York on Monday was a bronze sculpture welded by Romanian-born sculptor Constantin Brancusi. The sculpture of a sleeping woman’s head—”La muse endormie”— by the pioneer of modernism sold after nine minutes of bidding at Christie’s impressionist and modern art sale, kicking off a week of high-profile art auctions expected to rake in hundreds of millions of dollars.
The 1913 sculpture was cast by Constantin Brancusi who spent most of his working career in Paris. Despite being valued pre-sale at $25-35 million, it was snapped up by an anonymous bidder for twice its intended price.
The second top selling lot was a Picasso portrait of his mistress, Dora Maar, called “Femme assise, robe bleue,” painted on the Spanish master’s 58th birthday, which sold for $45 million, Christie’s said.
The oil painting was originally owned by the artist’s friend and gallerist Paul Rosenberg, before being confiscated by the Nazis and being discovered and rescued by Rosenberg’s son.
It was later acquired by US financier, industrialist and art collector George David Thompson. It was valued pre-sale at $35-50 million.
Christie’s and Sotheby’s—the esteemed houses founded in 18th century London—are chasing combined sales of at least $1.1 billion in offering for auction hundreds of contemporary, modern and impressionist works of art this week in New York.
The top estimate for the week is a 1982 “Untitled” by Jean-Michel Basquiat—a skull-like head on a giant canvas in oil-stick, acrylic and spray paint—for which Sotheby’s hopes to smash a new auction record for the US artist at more than $60 million.
Much of the art being offered this season is fresh to market—84 percent of the works offered by Christie’s on Monday had never been offered at auction or have been off the market for 20 years or more. Christie’s said the evening sale of impressionist and modern greats, including Monet, Chagall and Fernand Leger, fetched $289 million.
Buyers from 35 countries registered to bid, with 42 percent American and 23 percent Asian buying by lot, said Jessica Fertig, senior Christie’s specialist in impressionist and modern art.
Picasso holds the world record for the most expensive piece of art sold at auction with his “The Women of Algiers (Version 0)” fetching $179.4 million at Christie’s in New York in 2015.
With over 1,000 islands spread across 90,000 square kilometers in the Indian Ocean, white sand beaches and tranquil, crystal clear waters, The Republic of Maldives has long been regarded as one of the best holiday destinations in the world. Over the recent decades, the expansion of high-end tourism in the Maldives has allowed the republic to make tourism the key industry in its economy, with 96.5% of the total GDP coming from the industry, according to HVS Asia Pacific. With the Maldivian government putting a strong emphasis on its public sector investment program to meet the growing visitor demands, the Maldives’ real estate market is expected to remain stable, with the hotel industry to continue to grow in the near to medium-term future.
Dependency on the tourism industry
Tourism, the main economic lifeline in the Maldives, has been paramount to the country’s image and appeal to foreign investors. While generally reliable in the tourism sector, the country’s dependency on the industry has not been without its risks. With the growing popularity of nearby holiday destinations, particularly Sri Lanka as a rising competitor, the length of stays in the Maldives’ hotels and resorts declined by 20% from 2010 to 2014. Moreover, political and economic uncertainty in key global markets — China, Russia, Europe — has negatively impacted growth in tourist arrivals, with records falling short of the government’s target of 1.5 million visitors in 2015, according to the Horwath HTL Special Market Reports Issue 61: Maldives.
Influence of the Chinese market
Although Europe has been historically the main source of tourism-related revenue, the Maldives has grown increasingly dependent on the Chinese market, which in 2015 accounted for almost one-third of total tourist arrivals. However, according to Horwath HTL, the Chinese market figures have been on a downward trend since August 2015, with the trend attributed to the Chinese Yuan devaluation and the slowdown of the Chinese economy. “The Chinese traveller has been the one reason why the true effects of the Global Financial Crisis that hit western countries in 2009 were not felt so badly in the Maldives”, said Mifzal Ahmed, co-founder and vice president of strategy of the Maldives’ largest international airline Mega Maldives in an interview for newspaper Mihaaru in July 2016.
Despite the challenges, the performance of the tourism and hospitality sector has remained resilient showing general improvement in 2016, as compared to 2015. Although coming short of achieving the government’s targeted goal of visitor numbers, Hotelier Maldives reported in the 2016 Maldives Tourism Industry Review that the industry recorded 4.2% tourist arrival growth rate (compared with 2015’s 2.4% growth rate). Strong positive growths were also identified from most European markets following the Eurozone’s mild recovery in 2016, while the tourist numbers from other key markets like India, Sri Lanka, Saudi Arabia and Australia also picked up.
Government investment in infrastructure
In 2016, the government of the Maldives took expansive measures to anticipate the increasing regional competition and cater to the growing demand in the tourism industry, particularly in the area of public infrastructure. Major developments already on the way are the expansion of the country’s international airport and the entry of several new airlines that will improve the accessibility from key markets. Diversification of tourism offerings, such as resorts and new types of attractions, are also expected to bring in new markets into the country. A total of 11 new upscale and luxury resorts are planned for construction by 2018 according to the Ministry of Tourism, with the average daily rate expected to see notable improvement in the second half of 2017 as the new supply in the ultra-luxury segment begins to enter the market.
Scarcity of residential offerings
With hundreds of resort offerings in the Maldives, a residential property for sale remains rare. Development of new properties is not easy as all materials have to be brought in from abroad and many developers are not willing to take the associated risks. With limited residential properties available, the surging demand for housing has spurred several on-going developments, including Hulhumalé, an artificial island built in three phases, with the culmination of Phase I in 2020. The island, catering to a total population of 100,000 once all phases of development are completed, will incorporate commercial, industrial and residential components that will include mid-to-luxury housing and beach bungalows.
This article was written by Olha Romaniuk and first published in Palace 19.
Leading up to the Cannes Film Festival, Chopard — the festival’s official jeweler — presents us with its annual Red Carpet Collection. To honour the festival’s 70th anniversary and the 20th edition of their partnership, Chopard once again pushes beyond the boundaries of haute joaillerie.
Every year Chopard matches the number of pieces in the collection to the edition of the festival — this year being 70. Caroline Scheufele, Co-President and Creative Director of Chopard as well as the brains behind the iconic Palme d’Or in 1998 brings stunning pieces to life with cutting-edge techniques. This year, a diamond set edition of the Palme d’Or will be unveiled to celebrate the festival’s 70th anniversary.
Earrings in 18ct white gold and titanium set with pear-shaped topazs (16.7cts), amethysts (7.5cts), sapphires, paraiba tourmalines and tsavorites.
Chandelier earrings in 18ct white gold composed of pear-shaped rubies totaling over 40cts and pear shaped diamonds (2.9cts).
Jewelry happens to be one of the most eye-catching elements that sets our heart aflutter on every red carpet. For this Red Carpet edition, Chopard offers a modern take on their signature mix of vibrant colours, signifying their infinite creativity and passion for jewelry. The collection includes a pair of sparkling white gold and titanium earrings. Pear-shaped topazes, amethysts, sapphires, Paraiba tourmalines and tsavorites blend together to create a mesmerising paisley pattern. Focusing on elegance, Chopard’s classic chandelier earrings are topped with teardrop shaped rubies — a sensual addition that cleverly matches the red carpet.
Necklace in 18ct white gold composed of tanzanite beads (764cts) and set with brilliant-cut (7cts) and pear-shaped diamonds (9cts), marquise-cut sapphires (7.55cts), pear-shaped sapphires and adorned with an exceptional pear-shaped tanzanite of 150cts.
Necklace in 18ct white gold set with 44 cushion-cut tanzanites totaling over 109cts, pear-shaped diamonds (20.5cts), brilliant-cut diamonds (12.8cts) and sapphires
Other than the usual diamonds, sapphire seems to be a big trend for the brand this year, with several necklaces sporting the precious gem. The most striking of the lot is a 18 carat gold-white necklace composed of tanzanite beads. Set with diamonds and sapphires, the center of attraction is an impressive pear-shaped tanzanite. This rounds up to an astonishing 937 carats in total, making it one of the most distinct pieces in the collection.
Cuff bracelet composed of amethyst beads totaling 188cts and set with topazs (10.6cts), rubies, tanzanites, purple sapphires, red and pink spinels, Paraiba tourmalines and a beautiful black opal of 14cts.
Ring in 18ct white gold and titanium featuring a 14.4cts heart-shaped rubelite, marquise-cut tsavorites and brilliant-cut rubelites and amethysts.
Cuff bracelet in 18ct white gold and titanium featuring arabesques motifs set with pear-shaped emerald cabochons totaling over 56cts, Paraïba tourmalines, blue and pink sapphires, amethysts, tsavorites, tanzanites, apatites and diamonds.
This year’s arm candies are doused in cooler hues: blues, pinks and violets. Nestled in the heart of one is a spellbinding opal reminiscent of the Chopard Fleur d’ Opales collection. Sporting swirls and spirals akin to baroque patterns, these bracelets add another layer of glamour.
Rounding up the collection are a kaleidoscope of dazzling rings. Feast your eyes on the beautiful heart-shaped rubelite in the centre, circled with an array of amethysts and tsavorites.
The Cannes Film Festival 2017 will commence on May 17, marking the start of 12 days of screenings and celebration of the event’s 70th year running. For more information, do visit Chopard and Festival de Cannes.
SUPER/NATURAL, a new exhibition at Gajah Gallery Yogyakarta, opens to the public on 19 May 2017, with a special performance art event taking place on the same day. The visual art exhibition will be on display until 19 June 2017. The show is based on 20 contemporary artists’ multi-faceted interpretations of nature, including the external living environment as well as internal explorations of the self and the lives we live in Southeast Asia.
Through their works, the artists also explore belief systems in the region, and shed light on the way things are in contemporary society. “When the show was conceived, the idea was to work with these artists with a theme that was resonant in their works, and yet one that was highly relevant to other artists in Singapore and Indonesia, and reflect multiple readings,” explains co-curator Michelle Ho. “As such, I found the exhibition title Super/Natural felt quite apt, and particularly meaningful to Southeast Asia, a diverse region with a rich history of cultures and forms of belief.”
Three artists, Warren Khong, Adeline Kueh and Melissa Tan, have created new works specifically for the show. Other Singapore artists whose works are included are Lavender Chang, Maxine Chionh, Sarah Choo Jing, Ng Joon Kiat, Ruben Pang, Melissa Tan, Zen Teh, Suzann Victor, Chong Weixin, Ian Woo, Robert Zhao, as well as Kumari Nahappan, Suzann Victor and Jason Lim, whom Gajah Gallery, which celebrated its 20th anniversary in Singapore last year, has worked with for a long time.
The performance art event showcases mostly Indonesian artists. They are Aliansyah Caniago, Mimi Fadmi, Ridwan Rau Rau, Riyadhus Shalihin (Bandung), FJ Kunting, Arsita Wardhani (Yogyakarta) and Jason Lim (Singapore). Lim, who has directed the performance art festival ‘Future of Imagination’, is also the event’s curator. He selected the artists from an international performance art event, ‘Undisclosed Territories #10’, held in Solo, Indonesia, in 2016.
Super/Natural looks at the practices of both Singapore and Indonesian artists side by side to draw out overarching ideas about Southeast Asian art. Ho says, “The exhibition is a way of establishing dialogue and discussion about the languages of art-making from Singapore and Indonesia.” Lim adds, “I think the visual art exhibition and the performance art event complement each other with the former showcasing static ― or permanent ― artworks by Singaporean artists, and the latter presenting ephemeral and time-based works by mainly Indonesian artists.”
Not coincidentally, the show will open a day after the highly anticipated Art Jog, the city’s signature art fair that will attract art lovers from the region. Lim says “I am most satisfied that the gallery has considered including a performance art event in a generally commercially driven event like Art Jog, giving the audience a chance to experience performance art, which still remains the least understood contemporary art form in Indonesian.”
An interesting work from the visual art exhibition is Chong Weixin’s ‘Beige Dreams, Flesh Skin Surface 1’, a makeup and print on aluminium work featuring a delicate lone rose that comments on the enhancement of natural beauty in relation to the show’s theme. “ In defining our ideas of what we are, we extrapolate what we see to the extent where it becomes a filter encompassing both illusion and delusion,” says Chong. “My work in the show is a merging of this filtration and the natural object. It draws on surrounding themes that I hope audiences will see in conversation with the other works in Super/Natural, and come away with a sense of a complex and nuanced enjoyment of the show.”
Another work of note is a work from Ng Joon Kiat using acrylic on cloth to represent an aerial view of the cityscape in neon shades of yellow and green. “‘Untitled Cities 3’ is the result of observing intense human interventions of all kinds, which collectively form a sort of super-nature like that of ant colonies,” says Ng. “The work also looks at the concept of greenery: garden in a city, has its own perverted origins. It exemplifies the human desire to manipulate and control nature, taming it to be an artificial beauty or a kind of plastic charm with hidden violence.”
If you are heading to Jogjakarta this weekend, be sure to catch ‘Super/Natural’, supported by the Singapore International Foundation and the National Arts Council, at Gajah Gallery Yogyakarta.
On May 14, luxury fashion magnate Louis Vuitton lifted the veil off their stunning 2018 Cruise Collection — at a venue that was just as breathtaking. Helmed by the brand’s creative director Nicolas Ghesquière, the collection was shown at the Miho Museum in Kyoto, Japan atop a metal bridge overlooking the Shingaraki Mountains. The shift to the I.M Pei designed venue comes after previous cruise collections being unveiled in Monaco, Palm Springs and Rio de Janeiro. Lauded as a venue that encapsulates the fusion of urban and natural, the beautiful scenery made the event truly one to not be missed. The star-studded event saw celebrities such as Michelle Williams, Sophie Turner, Fan Bing Bing and Jennifer Connelly in the front row.
The collaboration between Japanese designer Kansai Yamamoto and Louis Vuitton saw pieces infused with classic Japanese art and Kabuki-inspired designs. Japanese actress Rila Fukushima opened the show dressed in a belted fur jacket, along with a striped cotton shirt. Models took to the long catwalk in sequined t-shirt dresses alongside bold Kabuki prints, as well as garments resembling samurai armour and Japanese traditional dress. Sheer evening dresses shimmering with gold and silver sequins dazzled in the sunlight.
Accessories included Louis Vuitton’s iconic monogrammed bags and mini-trunks, but with an added twist by Kansai Yamamoto. The designer created symbols and icons resembling Kabuki masks for the accessories line, injecting another splash of vibrancy.
Japanese influences were prevalent even in the models’ makeup. Bold colours were blended seamlessly into the face, highlighted with the use of eyeliner and dramatic brows; referencing the Kabuki. The look played perfectly into the theme of fusing modernity and the traditional, standing out in the largely minimalist backdrop of the museum.
“I visited the Miho Museum a few years ago and was fascinated by I.M. Pei’s concept of the harmony between architecture and nature. Japan is a country I know well. It was one of the first places I travelled to when I was seeking inspiration, some 20 years ago, and I’ve been a regular visitor ever since. This collection is the culmination of what Japan has given to me for a very long time,” said Louis Vuitton creative director Nicolas Ghesquière in a statement.
Since the end of the 19th century, Louis Vuitton has always maintained strong ties with Japan: the mon (family crest) inspirations of the Monogram canvas; the long list of renowned Japanese clients; Louis Vuitton’s first store in Tokyo in 1978; and the collaborations with Japanese contemporary artists such as Takashi Murakami, Yayoi Kusama, Rei Kawabuko and today Hiroshi Fujiwara.
Allan deSouza, ‘Rumpty-Tumpty Series #5–7,’ 1997/2017. Digital prints from film
The Asia Society Museum presents traditional, modern, and contemporary exhibitions of Asian and Asian-American art, by both known and under-recognized artists. Founded in 1956, it is a nonprofit, nonpartisan, educational institution headquartered in New York, with additional gallery spaces in Hong Kong and Houston. For their 70th anniversary, the Asia Society Museum will shine the spotlight on the works of 19 South Asian contemporary artists in “Lucid Dreams and Distant Visions: South Asian Art in Diaspora,” opening on June 27.
Timed with the 70th anniversary of the Indian Subcontinent’s independence from the British Empire, this exhibition—proposed by the founder of the South Asian Women’s Creative Collective, Jaishri Abichandani—celebrates diversity in theme and in media. In the context of a globally-occurring rise in nationalism and xenophobia, these artists wrestle with stereotypes and cultural assumptions, across photography, sculpture, and video to address issues in the current socio-political climate.
“The work of diasporic artists working and living between worlds has taken on a new urgency in counterbalancing the retreat into simplistic identity politics,” said Boon Hui Tan, Asia Society Vice President for Global Arts & Cultural Programs and Director of Asia Society Museum, in a statement.
Khalil Chishtee, Study for ‘History is a nightmare from which I am trying to awake II,’ 2017.
The artists, all living within the United States, represent a slice of the American experience while also drawing from non-American cultural tropes. The selection of artists reflects South Asia‘s diverse demographics. The exhibition includes Pakistani-born artists (Khalil Chishtee, Shahzia Sikander, Ruby Chishti, Anila Quayyum Agha); Indian-born artists (Jaishri Abichandani, Rina Banerjee, Kanishka Raja, Zarina); as well as artists born in Kenya and Nepal. Each work engages with the specificities of these native and regularly travelled to regions.
A two-day symposium titled ” Fatal Love: Where Are We Now” organised in conjunction with the exhibition will gather South Asian American artists, curators, and academics for discussions and strategies about visibility, to be held at the Queens Museum on July 1 and 2.
“Lucid Dreams and Distant Visions: South Asian Art” in the Diaspora will be on view from June 27 to August 6 2017. For more information, do visit the Asia Society Museum.
