CHRISTIES HONG KONG REALIZES A GRAND TOTAL OF HK$841,986,750 (US$108,279,496) ON FIRST DAY Christie’s, the world’s leading art business, today kicked off its autumn sales week in Hong Kong with robust participation.
9,548,229) to an anonymous bidder – a world auction record for the artist, for Chinese Contemporary Art, and for Chinese Painting.
“The creative vision of Cai’s unique work captivated the imagination of collectors around the world. This piece presented a powerful combination of traditional and contemporary elements that appealed to both East and West, and drew bidding from Asia, Europe and America,” said Eric Chang, Christie’s International Director of Chinese 20th Century and Asian Contemporary Art. “As the market leader, Christie’s continues to play a dominant role for Asian Contemporary Art, and today’s landmark sale underscores just that,” he continued.
Artists such as Yue MinJun, Zhang Xiaogang, and Zeng GanZhi continue to rule the landscape of this vibrant category, and each was well represented in the top lots. From Zhang Xiaogang came Portrait in Yellow, which portrays Ye Yongqing, a fellow artist and member of the Southwest China Art Group, realized HK$ 22,727,500 (US$ 2,922,757). The top lot from Yu MinJun was Life, an exceptional installation of fifteen separate paintings each depicting Yue’s self-image in different, contorted and absurdist positions, fetched HK$ 21,607,500 (US$ 2,778,725). Among the highlights from Zeng FanZhi was The Mask-Five Faces which realized HK$ 8,167,500 (US$1,050,341).
Highest Value Sale of Contemporary Indian and Pakistani Art in Hong Kong
The Asian Contemporary Art sale also brought tremendous results in the growing category of Indian and Pakistani Contemporary Art with a total of HK$ 30,373,250 (US$ 3,906,000) for 22 works – the highest value ever achieved in Hong Kong.
“A total of 13 world auction records were set today, with the strong prices throughout the sale often tripling or even quadrupling pre-sale estimates,” said Yamini Mehta, Director of Christie’s Indian Modern and Contemporary Art department. “We presented a finely edited selection of works from masters in the category including Atul Dodiya, Subodh Gupta, and Ravinder Reddy and we are thrilled with the enthusiastic response from collectors who recognize quality works and compete passionately for them. We are particularly thrilled with the result achieved for N. S. Harsha, an artist who has recently been short-listed for the Artes Mundi Visual Arts Prize,” she continued.
Korean and Japanese Contemporary Art Also Set Strong Prices
Korean highlights from today’s sales included On Chi Gyun’s Autumn in Sabuk HK$ 5,031,500 (US$ 647,051), Paik Nam June’s Wright Brothers HK$ 5,031,500 (US$ 647,051), and Kim Dong Yoo’s Marilyn Monroe HK$ 4,919,500 (US$ 632,648). Tateishi Tiger was among the strong Japanese works in today’s sale, achieving HK$1,927,500 (US$ 247,877).
Christie’s is the world's leading art business with global auction sales in 2006 that totalled £2.51 billion / $4.67 billion. Worldwide sales for the first half of 2007 totalled £1.63 billion / $3.25 billion, an increase of 32% by £ and 45% by $ from the same period last year and highest half year sales ever in art market history. Christie’s is a name and place that speaks of extraordinary art, unparalleled service, and international glamour. Founded in 1766 by James Christie, Christie's