Indochina paintings still dominate international auction floors

In 2024, online auction portal Drouot sold Le Pho's Two Women for $259,000; Mai Trung Thu's Mother and Child for $70,000; Mai Trung Thu's Blue Ao Dai for $65,500.

Indochina paintings are still the segment attracting the strongest liquidity (90%) for Vietnamese art on the world auction floors. In addition, there has been a steady appearance of the names of the generation of artists from the resistance period (Tran Luu Hau, Luu Cong Nhan), postmodern (Nguyen Trung, Dang Xuan Hoa) and contemporary (Truong Tan), creating the premise for the initial construction of these segments.

The lacquer painting Mother and Child Sleeping at the Edge of the Forest by Alix Aymé is priced at 267,000 USD.

In recent years, the highest-priced Indochina paintings auctioned by Sotheby's and Christie's include: Portrait of Miss Phuong by Mai Trung Thu - priced at 3.11 million USD (79 billion VND) - Sotheby's in 2021; Family in the Garden by Le Pho - priced at 2.37 million USD (60.4 billion VND) - Sotheby's in 2021; Figure in the Garden by Le Pho - priced at 2.29 million USD (58 billion VND) - Sotheby's in 2022; Young Girl in Conical Hat by the River by Mai Trung Thu - priced at 1.57 million USD (38 billion VND) - Sotheby's in 2021; The Tailors by Nguyen Phan Chanh - priced at 1.39 million USD (35.4 billion VND) - Christie's in 2020.

Sotheby's Vietnam CEO and curator Ace Le commented: "Compared to the general level, the market share of Vietnamese paintings at Sotheby's has achieved better results, with a sale rate of 90% or more. In the January 2025 auction at Sotheby's Singapore, the Indochina paintings had a 100% sale rate."

The oil painting Folk Singer by Nguyen Phan Chanh is priced at 1.06 million USD.

The silk painting Confidence by Le Pho reached over 600,000 USD (15.3 billion VND)

Sotheby's Vietnam CEO and curator Ace Le

Curator Ace Le added: "In 2024, some outstanding lots that I am very proud to be part of the auction preparation team at Sotheby's Paris include the oil painting Folk Singers (Les Chanteuses de Campagne) by Nguyen Phan Chanh painted in 1930 - becoming the first Vietnamese artwork of the year to surpass the million USD mark (1.06 million USD, about 27 billion VND). The silk painting Confidence by Le Pho painted from 1941 - 1942 reached more than 600,000 USD (15.3 billion VND) at Sotheby's Hong Kong. The lacquer painting Mother and Child Sleeping at the Edge of the Forest (Mère et Fille Allongées à L'Orée d'un Bois) by Alix Aymé painted around 1960 sold for 267,000 USD (6.8 billion VND) at Sotheby's Singapore, far exceeding the estimate. Ms. Aymé was a lecturer at the Indochina College of Fine Arts, contributing to the revival of Vietnamese lacquer art.

According to curator Ace Le, Indochina paintings are still a segment that attracts investors and collectors like in previous years and is expected to continue in the near future in the next few years. "That is because Indochina works have passed the test of time with a strong trading history," said Ace Le.

Source: https://thanhnien.vn/dong-tranh-dong-duong-van-chiem-uu-the-tren-san-dau-gia-quoc-te-185250211212029769.htm