$4.4 M. Lot Sets New Southeast Asian Auction Record

ob uw530 hkauct g 20121008003228 $4.4 M. Lot Sets New Southeast Asian Auction Record

The work in question, ‘Fortune and Longevity’ (1951). (Courtesy Sotheby’s)

Bloomberg reports that a painting by Indonesian Lee Man Fong set a new auction record for Southeast Asian art when it sold for $4.4 million at Sotheby’s Hong Kong yesterday. This is nearly three times its high estimate.

The bidding for the lot took 10 minutes, and the work eventually went to a phone bidder.  More details here.