When Christie's -- a renowned auction house -- began its operation in Bangkok in 1998, some 90% of its revenue came from selling luxury items and 10% from artwork as there were few art collectors at the time. Back then, Christie's aimed to auction state assets following the Tom Yum Kung economic crisis.
Though Christie's initially focused on Thai market, the company has recently expanded to Cambodia, Laos, Myanmar and Vietnam due to growth of the global art market.
Prapavadee Sophonpanich, managing director of the Asia office, discussed the growth of Christie's collector base in Thailand. Back then, the auction house had five art collectors on its list, but today that number has increased to over 100.
"In the past, people believed that selling art was disrespectful to artists. Artists also expected collectors to cherish their work for life and pass the artwork down to descendants. Thus, we had to try to shift their perspective and make them understand that selling art could add diversity and enhance their collections," explained Prapavadee.
Prapavadee began work at Christie's seven years ago and was able to encourage collectors who originally focused on only luxury items to become art enthusiasts.
"We have seen a growing appreciation of art. While the proportion of sales fluctuates between luxury goods and artwork each year, Christie's revenue from art sales has increased. Luxury goods account for a large portion of our revenue, ranging from 50%-70%, while art sales contribute 30%-50%, which is a significant increase from the past. We are pleased to see this progress," explained Prapavadee.
An auction at Christie's Hong Kong. (Photo: Lawrence Fung)
"Most of Christie's entry level collectors begin from collecting luxury items like watches and jewellery. When clients reach saturation with luxury goods, we encourage them to explore the art world. As art collectors, they can select their own theme such as Thai contemporary art, Southeast Asian modern art, Southeast Asian contemporary art, Western art or even female art. There are diverse artworks to select from. Collecting art can be addictive, so they may enjoy collecting art for the rest of their lives."
While there are many talented artists in Thailand, only a few, such as Thawan Duchanee, Pratuang Emjaroen and Damrong Wong-Uparaj, have achieved international recognition and had their work appear at Christie's auctions. Some countries in Southeast Asia such as Vietnam, Indonesia and the Philippines have been involved in the international art market even longer than Thailand. Meanwhile, Laos and Cambodia have a smaller collector base than Thailand.
"After the Vietnam War, numerous Vietnamese emigrated to Europe. Since Vietnam was once a French colony, their art is influenced by French style. Therefore, their art developed differently from Thai art. While art from both countries reflects the politics and history of that time, Vietnamese art often incorporates elements of Western aesthetics, particularly French art. Since many Vietnamese artists also emigrated to France and the US, they gained exposure to Western art markets and collectors," Prapavadee explained.
"Meanwhile, the Lao market has grown due to expansion of local art appreciation, though Christie's does not yet have any Lao art in our collection. However, Christie's showcased the work of Cambodian artist Sopheap Pich at Christie's New York. Pich is known for his conceptual art which incorporates traditional materials and transforms them into modern forms. The Cambodian collector base still remains smaller than the Thai collector base, though the Cambodian market is more active with more collectors and private museums. In the past, Christie's featured art from Myanmar, but its market is currently not active due to the political situation."
A painting by Tang Chang. (Photo: Apaisuwan, Samatcha)
Prapavadee commented that Thailand's art industry has grown due to an expansion of the ecosystem. This includes initiatives that enhance appreciation such as the establishment of the Bangkok Art and Culture Centre and major events like the Thailand Biennale and Bangkok Art Biennale. A crucial element that contributes to the industry's growth are art institutes, especially Silpakorn University which has increased the number of Thai artists.
Christie's has also played a crucial role in promoting Thai artists to an international audience by featuring them at its 20th And 21st Century Evening Sale. The Christie's Evening Sale is a significant auction event that features a well-curated selection of highly valuable and in-demand works. The evening sale is organised twice a year (in spring and autumn) at each Christie's branch. Artwork by Thai artists has featured at the sale in Christie's Asia Pacific headquarters in Hong Kong.
"In the past, it was risky to feature works by Thai artists at an auction because collectors were not familiar with them, so it was uncertain what the feedback would be like. However, at Christie's Evening Sale, The Harvesters, which was the first painting by the late Thai master artist Thawan Duchanee, achieved a selling price that surpassed five times its estimated range. After that, Thawan's paintings have been included in Christie's auctions."
Besides Thawan, other Thai master artists who have sold works at high auction prices are Pratuang Emjaroen, Damrong Wong-Uparaj and Tang Chang. Thawan's Scream Of Sorrowful, sold for HK$6,048,000 (26.7 million baht); Pratuang's Grand Canyon sold for HK$4,250,000; Damrong's Shore Scene With Boats, Rocks And Scaffold-Like Poles sold for HK$ 1,512,000 and Tang Chang's Untitled sold for HK$ 1,638,000.
When asked what qualities does Christie's seek in artists, Prapavadee replied that their artwork must be original and have universal appeal. Additionally, artists should have strict discipline and a well-organised working system. She cited Natee Utarit as an example of an artist with discipline and consistent high-quality work. These values have allowed his work to be collected by international galleries. She hopes to find more Thai artists with dedication and quality like Natee.
Shore Scene With Boats, Rocks And Scaffold-Like Poles by Damrong Wong-Uparaj. (Photo: Christie's Bangkok)
Besides master artists, is it possible for Christie's to feature established contemporary artists like Suntur, Gongkan and Alex Face? Prapavadee replied that Christie's keeps an eye on works by these artists. However, the auction house is not ready to hype up their work as it requires consistent supply.
When Prapavadee was asked what Christie's will look like five years from now, she predicted that the auction house may feature more digital art.
"Christie's now offers bidding for traditional art known as flat art, which can be touched physically. But there were also auctions for crypto art. I believe that if the markets of video art and digital art grow and gain demand, Christie's will adjust to include these art forms in auctions," said Prapavadee.
"I hope that in the next five years, the Thai art industry will have expanded more and artworks by Gongkan and Alex Face who have exhibited in the US will be included into Christie's system. Additionally, I hope to see a sale dedicated to only Southeast Asian art. This is a goal that is difficult to achieve, but if it happens, it would exceed expectation."
Scream Of Sorrowful by Thawan Duchanee. (Photo: christies.com)
