Korea’s most expensive artist Kim Whan-ki’s red-dot work goes to Hong Kong

A work by Korea’s most expensive artist Kim Whan-ki will be up for auction in Hong Kong again this year.

Seoul Auction, the nation’s largest auction house, will hold a sale on May 26 at Grand Hyatt Hong Kong, featuring Kim’s untitled red-dot painting. 

The work included in the auction house’s 29th Hong Kong sale is one he painted in 1971 while staying in New York, where he lived until his death in 1974.

The overall composition of the piece is similar to his 1972 work “3-II-72 #220,” which was sold for 8.5 billion won ($7.15 million) at Seoul Auction’s sale in Hong Kong in May last year. The 1972 work had shattered all records for any Korean work of art sold at an auction.

“There are only a few works that feature these red dots,” Seoul Auction officials said. “We are currently in discussion with the owner about the low estimate.”

Meanwhile, Seoul Auction will also put up for sale nine works by Lee U-fan, including his 1981 painting “From Line.” Jeff Koons’1999 work “Cow (Lilac)” is another highlight of the upcoming event.

The auction showcases 82 works, worth an estimated 15 billion won combined.

Seoul Auction is holding auction previews at its branch in Gangnam-gu from Wednesday to Sunday and at Grand Hyatt Hong Kong, Salon, from May 24-26.

By Shim Woo-hyun (ws@heraldcorp.com)