Growing the market for fine art
Harmony in flight by Senaka Senanayake
A charity auction of Modern and Contemporary Sri Lankan Art was conducted by the renowned auction house Sotheby’s under the auspices of the George Keyt Foundation, on December 9, at the Forum, in the new City Of Dreams at Cinnamon Life.
There were 46 pieces of modern and contemporary art and sculpture on the auctioneer’s block, donated by the artists themselves, or by artists’ estates, collectors and philanthropists. The auction was arranged by the George Keyt Foundation which has been serving the community of Lankan artists since 1988.
The Foundation aspires to expand their commitment to the artists of Lanka. Already, for more than 30 years, many artists and sculptors have been promoted through the annual exhibitions such as the “Kala Pola”, “Young Contemporaries” exhibition especially to showcase emerging talent in in all districts and provinces, and the “Sri Lankan Art” exhibition, a curated exhibition of recognised artists. In addition, more needs doing for which funds are urgently required.
There were other donors to this charity auction who are collectors of fine art, and some ‘priceless’ items of work by representatives of the trailblazer Group of ’43, were offered. Rare works by George Claessen, Neville Weeraratne, Justin Daraniyagala, Richard Gabriel and George Keyt, were generously handed to the Foundation for this auction sale. All these works have their provenance intact.
The potential impact on the stature and recognition of the Lankan artists whose work was featured at auction, and the information about this communicated worldwide (having been sold under the aegis of Sotheby’s of London), is a huge endorsement and a step in sponsoring the creative economy of Sri Lanka. Literally millions of dollars worth of exchange is possible within this creative realm.’
This was what is known as a ‘white glove’ auction, because every piece sold, and most lots sold for amounts far above the estimates. The proceeds from this auction are for charity, and to support the George Keyt Foundation. People who registered, gave and bid generously as it was a charity auction, and to help the creative economy.
Jupiter by Sanjaya Geekiyanage
This auction superbly achieved its goal. Every part of the process was smooth and orderly, presided over by Sotheby’s worldwide Co-Head, Director of Modern and Contemporary South Asian Art, auctioneer Ishrat Kanga, and facilitated by a panel of George Keyt Foundation observers led by Malaka Talwatte, on the watch for incoming bids from all parts of the crowded venue. The artworks themselves had been on display in an adjoining room for a few days, and there had been a fundraising dinner,and panel discussions illuminating various aspects of the event, in the buildup to the auction itself.
In conversation with the artists Prof. Emeritus Jagath Weerasinghe, Mariah Lookman and Anoma Wijewardene, Ishrat Kanga had pointed out the significance of the ’43 Group not only in Sri Lanka but to world art, and the pride that we should all feel as a country that so many great painters and creative artists have been born and worked and found inspiration here. Sri Lanka in all its complexity is the prompt for incredible creativity, and this is now becoming clear to all, with the kind of commitment shown by the organisers of this event.
Until recently, art has been seen as exclusively the realm of the wealthy and the elite. In Sri Lanka, with its economic challenges in recent years, when basic commodities were in short supply for most, the making and selling of fine art was definitely seen as a luxury and viewed by many as ‘non-essential’. Food on the table was more important than art on the walls. But an interest in making and owning art is a sign that we are not just surviving, but thriving.
So this auction was an indication of how wealthy some citizens of contemporary Sri Lanka are, and a clear sign that the art loving purchasers are willing to invest handsomely in the creative effort and enterprise of their own local artists. This interest raises the value of all the art works not only in this auction, but the wider bodies of work created by all the artists who participated, and by extension the broader artistic community.
The catalogue for this auction was beautifully designed. The photographs of the artworks within its pages were vibrant, clear and detailed, and it also incorporated sections which outlined the procedures involved in registering to bid, and to participate in the auction. There had clearly been a great deal of thought and dedication involved in presenting this event, and the ways in which the artworks were made visually accessible to members of the public who were first time auction attendees, or unsure of the procedure, were very effective. The young team at the welcome desk were extremely helpful, patient and professional.
There had been great interest in several of the items prior to the commencement of bidding. However, the bold, distinctive work of Keyt himself, and that of the brilliant Stanley Kirinde, went for comparatively lower prices, although the prices were still substantial in relation to their initial presentation. In contrast, the works of the younger generation of contemporary artists were spiritedly bid for, and the auction brought their work into a higher platform of recognition and appreciation.
It was noticeable that the more hard hitting political pieces and the more subtle and layered works were less sought after than those presenting profusions of flowers, and splashes and explosions of bright colour. Perhaps it will take a few more auctions like this for the valuation of art in the country to expand and become more refined, to include appreciation of aspects of geopolitical history, and philosophy, on the part of the public.
For this, the younger generation must be made more aware of the rich history that is our collective legacy. Public and private art galleries are now understanding the value of educating their audience, and the whole process of viewing, interpreting, analysing and appreciating art is being made more accessible to all, although acquiring and owning the artworks is still only possible for a relative few.
The valuation of art is a subjective and subtle realm. Far more than even its monetary or market value, is the value of the effect of shape, form, texture and aesthetic impact on a person who lives with a work created by another human being.
Included in the value of each art work is its provenance, the multilayered story told by its form and design, the materials used by the artist to convey their insight and vision, and the details of the life of the artist who created it: what place each work holds in the overall creative landscape of each creator. This value increases over time, the more we learn and appreciate the works of the artists amongst us.
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