CHRISTIES HONG KONG REALIZES A GRAND TOTAL OF HK$841,986,750 (US$108,279,496) ON FIRST DAY Christie’s, the world’s leading art business, today kicked off its autumn sales week in Hong Kong with robust participation.
News-Antique.com - Nov 27,2007 - · Records Fall Across Multiple Categories
· Robust Bidding From Around the World
· Cai Guo-Qiang Gains World Auction Record for Chinese Contemporary Art
· Christie’s Continues Market Leadership Across all Categories Offered
Eleven Lots Sold Above HK$10 Million
Hong Kong – Christie’s, the world’s leading art business, today kicked off its autumn sales week in Hong Kong with robust participation across all three categories offered: Modern & Contemporary Southeast Asian Art, Chinese 20th Century Art, and Asian Contemporary Art. Collectors competed vigorously for spectacular works by some of the most celebrated contemporary and modern artists in Asia.
“Christie’s specialists presented an exquisite selection of artworks and today our clients validated their effort. Our sales showcased the great variety and diversity of Asian art, ranging from paintings and mixed media to sculptures and photography created in different forms, media and styles. This was the most exciting art auction ever presented in Asia and it clearly appealed to collectors from around the world,” said Ken Yeh, Deputy Chairman, Asia.
Record Modern & Contemporary Southeast Asian Art Sale
The opening sale of Modern & Contemporary Southeast Asian Art totaled a record HK$64,329,000 (US$ 8,272,709) and witnessed a packed room and vigorous buying, resulting in a robust start to the week’s sales in Hong Kong. The sales created new elites among Southeast Asian art categories, and placed names such as I Nyoman Masriadi, Rudi Mantofani, and others in the spotlight. Artist records were set throughout the sale, with five world auction records set in the top ten results alone. The top lot was Rudolf Bonnet’s Market scene which more than doubled its high pre-sale estimate and fetched HK$11,527,500 (US$ 1,482,437), a world auction record for the artist.
“Christie’s vision of strong cross-buying came to fruition today with a record sale for the category, as collectors from India, Taiwan, Mainland China, Europe and America competed in person, on the phone and online,” said Ruoh-Ling Keong, Head of Sale of Southeast Asian Modern & Contemporary Art.
Chinese 20th Century Art
The Chinese 20th Century Art sale saw enthusiastic bidding from the outset, with the top lot, Chen Cheng-Po’s Sunset in Danshui, going for HK$ 50,727,500 (US$ 6,523,557) to a private Asian buyer. The sale also set two world auction artist records - Zao Wou-Ki’s Et la terre tait sans forme, 1956-1957, which sold for HK$ 29,447,500 (US$3,786 ,949) and Wu Zuoren’s Golden Ocean, sold for HK$8,167,500 (US$ 1,050,341). With 86% works sold, the category continues to show strong performance.
New Chinese Contemporary Top Price Leads Record Asian Contemporary Art Sale
A marathon sale of Asian Contemporary art set the new benchmark for the category with a record total of HK$ 467,178,500 (US$ 60,079,155) with a tremendous 96% works sold by lot, 99% sold by value. Leading the day was a large-scale work comprising 14 large gunpowder screens by Cai Guo-Qiang entitled Set of Fourteen Drawings for Asia-Pacific Economic Cooperation. Embodying more than a decade-long period of creative experimentation, this work sold for HK$ 74,247,500 (US$