Art works on auction for the first time in Vietnam

The painting by Dao Hai Phong will be auctioned on May 28.

This is the first auction for art works in Vietnam organised by Lac Viet Auction JSC.

Among the works are three paintings by famous artists: the ‘Happiness’ by painter Hoang Phuong Vi, the ‘Uplands fairies’ of artist Quach Dong Phuong and ‘Alongside the red river’ by painter Dao Hai Phong. The starting prices for the paintings are expected from VND50-120 million.

Along with the paintings, the two ‘Tu Linh’ jars by artisan Pham Anh Dao from Bat Trang pottery village produced in 2010 will also appear at the auction. The starting price for the pair is expected to be between VND900 million to VND1 billion.

In particular, painter Le Thiet Cuong also sends an altar dating from late 19th century to the auction with an expected starting price of VND65-80 million.

According to Chairman of the Board of Management Lac Viet JSC Tran Quoc Khanh, auction activity in the field of art aims to honour the value of labour and creativity of the authors. The auction also contributes to figuring out the true value of the works by auction participants who bid with a desire to own the compositions. To date, the company has held neatly 1,000 auctions, and this is for works of art.

The idea of holding the special auction appeared many years ago, with a range of preparations held early on, including collecting valuable works, connecting with experts, and inviting advisers.

The auction is expected to attract 30-40 visitors. The organisers will offer profiles enrolled for the event from May 15-28 and start receiving registration dossiers from May18-28 at the 6th floor, Building No. 49 Van Cao street, Ba Dinh district, Hanoi.

The auction process is done in line with current law provisions. The author or owner of the artworks will receive 100% of the value of the works at the starting price they set; the additional amount from the auction will be divided according to the provisions in the contract between the auction organisers and property owners. The organisers must ensure that products on auction are exclusive with clear origin and proper dating.