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As Indonesia Design celebrates their 11th year of publication, milestones often allow us to reflect and appreciate the changes and developments that have occurred in order to move forward. The contemporary art market has certainly had a roaring 2014, with record-breaking auctions achieving record prices for many artists during a hurried frenzy to acquire art. ‘Three Studies of Lucien Freud’ by Francis Bacon became the most expensive artwork in the world when it sold at Christies in May 2014 for US$142.400,000. Closer to home, in April this year a painting by S.S. Sudjojono ‘Our Soldiers Led Under Prince Diponegoro’ sold for US$7,500,000 at Sotheby’s. With all these big sums flying around, it is worth scrutinizing - does price indicate an iconic artwork?
STORY BY Deborah Iskandar