Seoul Auction is set to host its March Contemporary Art Sale, featuring Yoshitomo Nara’s 2016 painting "Nothing about it" as the centerpiece. With a low estimate of 14.7 billion won ($11 million), the work is poised to potentially shatter the record for the highest price ever achieved at an art auction in South Korea. The sale also includes high-value works by Yayoi Kusama and Roy Lichtenstein, with a total pre-sale estimate reaching up to 75 billion won.
This auction serves as a critical litmus test for the South Korean art market, which has recently experienced a period of stagnation. By timing the preview to coincide with Art Basel Hong Kong and featuring blue-chip contemporary artists, Seoul Auction aims to attract international liquidity and determine if contemporary masters can surpass the price benchmarks previously set by classic modernists like Marc Chagall in the region.