Vietnam had its first commercial auction house open on the weekend, when a painting was sold at US$40,000 at its maiden auction.
The auction was organized at Caravelle Saigon Hotel in Ho Chi Minh City on Saturday.
It marked the opening of Ly Thi Auction, which is the first fine art auction house in Vietnam.
A painting by Le Pho, auctioned at $30,000, was bought by a woman named Nguyen Thanh Phuong at $40,000, the organizers said.
Phuong sent a text message to buy the painting, they confirmed.
Another painting by late artist Tran Dong Phuong found its buyer at $23,000, after being offered at $22,000.
A third one, by Le Van Luong, was sold at $22,500.
Indonesian artist AFFANDI’s painting was not bought by anyone with its starting price $180,000, the most expensive at Ly Thi’s maiden auction.
Ly Thi Auction is intended to be a commercial auction room, while most of the auctions in the country have been charity-oriented so far.
Photos of the maiden auction at Caravelle Saigon Hotel in District 1:
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