Kim Tschang-yeul’s water drop paintings dominate Seoul auction houses

Kim Tschang-yeul, ‘water drops’ (1977). (Seoul Auction)

Seoul Auction and K Auction, South Korea’s two major auction houses, are set to feature a wave of works by late artist Kim Tschang-yeul, known for his iconic water drop paintings.

A total of 10 pieces painted by Kim will go under the hammer at the end of October, following the success of his retrospective at the National Museum of Modern and Contemporary Art, which drew 180,000 visitors.

Seoul Auction, holding its sale on October 28, will offer “Water Drops” (1977) with an estimated price of between 320 million and 500 million won, alongside leaf and paper works and pieces from the artist’s “Recurrence” series.

K Auction, which stages its sale on October 29, will feature four works, including “Water Drop PA83032” (1983) estimated at up to 350 million won.

The record auction price for Kim was set in 2021, when “CSH I” (1978) fetched 1.4 billion won at Christie‘s Hong Kong. In Korea, “Water Drops” (1977) sold for 1.04 billion won at Seoul Auction the same year, amid a surge in demand following his passing.

At Seoul Auction, 112 works from other artists worth a combined 8.3 billion won will be offered. K Auction will present 88 works totaling 10.6 billion won.

Top lots include Kim Whanki’s “Spring” at K Auction, with a starting bid of 2 billion won, and Yayoi Kusama’s “Infinity Nets” (2006) at Seoul Auction, also beginning at 2 billion won.

Younger collectors’ favorites such as Woo Kuk-won and Ok Seung-cheol are also represented, alongside blue-chip names Lee Bae and Lee Kun-yong.

“Collectors’ sentiment remains cautious given economic uncertainty, but it’s a good opportunity to acquire quality mid-size works at reasonable prices,” said Son Yee-chun, director at K Auction.

Industry watchers note that artworks featured in major exhibitions are increasingly appearing at auction, blurring the line between museum acclaim and market demand.