Christie's Hong Kong Spring 2008 Results: RECORD HK$2.4 billion/US$310.7 million Christie’s, the world leading art business, concluded its Hong Kong Spring 2008 sale series with a combined total of HK$2.4 billion/US$310.7 million
News-Antique.com - Jun 10,2008 - • HIGHEST TOTAL FOR ANY SERIES OF SALES IN ASIA
• 50 LOTS EXCEED US$1 MILLION
• WORLD AUCTION RECORDS ACROSS CATEGORIES
Hong Kong – Christie’s, the world leading art business, concluded its Hong Kong
Spring 2008 sale series with a combined total of HK$2.4 billion/US$310.7
million - this is the highest total ever achieved in a sales season in Asia and gives
Christie’s 58.5% market share in the region. This sale total is a dramatic increase of
58% over Christie's 2007 Spring sale, which totalled HK$1.52 billion/US$195.4million.
"The results of our Hong Kong Spring Sales highlight the importance of Asia for Christie's and the
potential that this region offers. As one of our top three global sale centres alongside New York and
London, Hong Kong plays a key role in garnering established and new collectors in Asia and around
the world to participate in the art market. Global interest in art continues to grow, and supported by
new wealth in the region, we are committed to expanding our business in Asia." said Edward
Dolman, Chief Executive Officer, Christie's International.
"Christie's sales results show that Hong Kong has truly come of age in the global art market. Our
sales have been attracting an increasingly international and diverse range of buyers who look for the
best in art, watches and jewellery. As the breadth and depth of the art market in Asia grow, we look
forward to achieving new heights in our sales in the future." said Ken Yeh, Deputy Chairman,
“A dynamic series of record-breaking sales for Asian art in Hong Kong testifies to the
accomplishments of Christie’s specialists. We have again demonstrated our leadership and brought
the greatest works to the global market. Buyers from around the world were active across all categories,
reflecting the growing internationalization of the art market,” said Jonathan Stone, Chairman
of Christie’s Asia Management Committee and International Business Director
of Asian Art.
SOUTHEAST ASIAN MODERN & CONTEMPORARY ART
HENDRA GUNAWAN (Indonesia 1918-1983)
Sold for: HK$5,927,500 / US$759,906
NEW AUCTION RECORD FOR THE ARTIST
• SALE TOTAL: HK$71.7m / US$9.2m - more than double its pre-sale high estimate
and +39% above Spring 2007.
• THE HIGHEST TOTAL EVER AT CHRISTIE’S IN THIS CATEGORY
• MULTIPLE ARTIST AUCTION RECORDS SET including: Hendra Gunawan, I
Nyoman Masriadi, and Le Pho.
• MARKET TRENDS: Records and strong prices were seen for both Contemporary (I Nyoman
Masriadi, Geraldine Javier) and Modern (Le Pho, Hendra Gunawan) artists. Artists new to the
auction market performed extremely well (Fx Harsono, Haris Purnomo).
The top ten results and high resolution images of the auction and select top lots are available for download:
Southeast Asian Modern and Contemporary Art:
ASIAN CONTEMPORARY & CHINESE 20TH CENTURY ART
• COMBINED TOTAL: HK$813.8m/US$104.6m, a 33% increase over Spring 2007
• THE HIGHEST TOTAL EVER FOR THE CATEGORY WORLDWIDE
• Series opened with the INAUGURAL EVENING SALE for both categories – a first for
the category and a first