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Herald artday’s second auction holds up despite low season

“With Wind” by Lee U-fan (artday)
“With Wind” by Lee U-fan (artday)
The second online auction held by Herald artday, a subsidiary of Herald Media group, closed on Wednesday with 64 percent of items on the bidding block sold.

A total of 68 pieces among 106 artworks were sold, marking a total sales of 186 million won ($145,000). Among the articles, Lee U-fan’s piece “With Wind” was sold at the highest price of 65 million won.

Competition was tough during the six-day event where artworks by up-and-coming figures such as Mari Kim, Lee Woo-lim and Heo Yang-gu and veteran artists such as Lee U-fan, Kim Tschang-yeul, Suh Seok and Kim Chong-hak were auctioned.

Among other works, the most coveted was Lee Man-ik’s “Brother and Sister” for which 16 competed. It was finally sold at 4 million won.

“Considering how it was a low season and the art market is rather dull right now, we think that the auction went pretty well,” said an official at artday.

With prices starting as much as 70 percent below the market price, organizers said that the auction was a great opportunity for first-time buyers as well as art aficionados to take home genuine artwork at an attractive price.

The articles offered at the second auction were showcased at beyond museum in Cheongdam-dong, southern Seoul, during the auction period.

By Park Min-young  (claire@heraldcorp.com)
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