Glance through Lau’s Instagram page (@yylau.jpg) and it’d be hard to ignore her chic OOTDs – the polished 31-year-old dressed up in a mostly monochromatic wardrobe made up of the likes of Saint Laurent, (old) Celine, Dries van Noten and Prada.
Equally hard to miss: the art. Like serious, blue-chip, major art. A picture of the gigantic Aomori Dog by Yoshimoto Nara at the Aomori Museum of Art. Han Sai Por’s monumental Black Forest at the Singapore Art Museum. The works of Lucio Fontana, Rene Magritte, Ai Weiwei, Pinaree Sanpitak – you get the drift.
Lau, you see, is a specialist in South-east Asian art at Christie’s. Dropping out of law school to major in art history, she’s also surprisingly low-key for someone who integrates a love for art and fashion so seamlessly. While her Instagram account is personal, she admits that social media is a helpful tool for encouraging people to visit exhibitions as well as demystifying the industry.
Here, she gives the low-down on the often-opaque world of art auctions and what exactly she does as an art specialist.
What does an art specialist do?
“A specialist’s role mainly consists of cataloguing, researching and pricing works of art ahead of auctions. I also work with private clients in the region who are looking to curate their art collection, whether it is through buying or selling. Last year I even had the opportunity to be the head of sale for a virtual modern and contemporary art sale, and conceptualised and curated over 100 works of art and collectibles for it. This was in addition to working with my colleagues to market the event to our global clientele.”
What factors do you look for when consigning art pieces for auction?
“When I receive a work to be appraised, I generally look at a few different elements: the artist, medium, size of the work, whether the work has been exhibited or published in something like a catalogue, as well as its provenance.
All these factors contribute to the value of a work of art, and depending on these factors, we also determine if a work is suitable for consignment or not. This is considered in tangent with the current market trends as well as our confidence that we can indeed find a buyer for the work, should we put it up for auction.”
Auction houses are often seen as highly intimidating and out of bounds. How much truth to that is there?
“Auctions are an incredibly democratic process by which to acquire and collect objects including art. There are no barriers to entry and anyone can easily set up an account to bid. Auctions are also generally open to the public to attend and we encourage anyone who has an interest in art – whether you are just starting your collection or a seasoned collector – to attend our previews and sales.
We also have a very diverse range of items and price points on offer throughout the year. I encourage new collectors to look at our ‘First Open’ sales (a Christie’s initiative that highlights rising talent and previously undervalued names) and online sales to find items with introductory-level prices.”
What are the similarities and differences between your work and an art specialist at say, a gallery or museum?
“Knowledge of the work at hand and the artist is essential to any specialist role, whether in an auction house or institutions such as museums. However, the considerations are fundamentally quite different as a museum’s primary concern is about how an acquisition sits within the overall collection as well as in relation to the history of art.
A commercial art gallery shows the work of an artist directly and is focused on cultivating an artist’s career, strategising whether works should go to institutions or private collections. These are all quite different functions to that of an auction house. At the same time, I must stress how essential every single one of these roles and functions are contributing to the ecosystem of the art world.”
Give us some tips for new entrants to the world of art auctions.
“For collectors exploring auctions for the first time, it would probably be most crucial to understand most of the terminology we use such as reserve price, buyer’s premium, sale room notice et cetera, as well as how an auction house functions. It can be quite a daunting experience engaging in auctions for the first time, but definitely do not be afraid to ask questions relating to the process or the works. We are here to guide new clients and love having an open discussion with those who are equally passionate about art.”
What is your opinion on the current art market?
“At the Hong Kong Autumn Auctions held at the end of 2020, Christie’s Asia achieved over US$224 million (S$299 million) across five sales focused on 20th- and 21st-century art, including South-east Asian art. That was the highest sales total for any auction house in Asia this year and a record-breaking total for Christie’s Asia. We also achieved a number of new auction records for works by modern South-east Asian masters Vicente Silva Manansala, Vu Cao Dam and Nguyen Phan Chanh. These results reflect a sense of market confidence in Asia despite the ongoing challenges.”
A version of this article first appeared in the January/February 2021 Art & Music Edition of FEMALE
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