TOP LOT OF THE SALES
The Fragrance of a Nation in Clearing Spring by Yun Shouping
Price realised: HK$59,650,000/ US$7,680,582
against the pre-sale low estimate of HK$3,000,000/ US$386,282
Fervent Bidding and Exceptional Prices for Prominent Private Collections
Combined Sell-Through Rates of 81% by Lot and 95% by Value
Hammer Price of 187% above Low Estimate
60% of Lots Surpassed Pre-Sale High Estimates
Over 3.6 Million Viewers Watched the Auction Livestream
Hong Kong – On 29 and 30 November, Christie’s Chinese Paintings held two live auctions – Fine Chinese Classical Paintings and Calligraphy, and Fine Chinese Modern and Contemporary Ink Paintings, achieving a combined total of HK$601,977,500/ US$77,541,686 and sell-through rates of 81% by lot and 95% by value. The sales also saw a contingent of millennial buyers who accounted for 45% of new buyers.
Kim Yu, International Specialist Head of Chinese Paintings Department, commented: “We are very delighted to secure market leadership in Asia with our phenomenal results across both sales, and to continue achieving remarkable prices for esteemed private collections which attract deep bidding for leading lots. For those hoping to acquire more exceptional paintings from important private collections from across Asia and North America, do tune in to our online auction, “Exquisite Eye: Chinese Paintings Online including the Collection of Sun Ah Book Center”, which accepts bidding until 1 December, 12pm HKT.”
Sale Highlights: Fine Chinese Classical Paintings and Calligraphy
- The auction totalled HK$305,646,250/ US$39,355,256, with an 80% sell-through rate by lot and a hammer price of 421% above low estimate. This also marks the highest auction total for this genre at Christie’s Asia since Autumn 2018.
- The Wong Nan-ping Family Collection performed exceedingly well, achieving HK$120,452,500/ US$15,509,560, with a 95% sell-through rate by lot and a hammer price of 621% over low estimate. The top lot of the sale and of the collection was lot 867 — The Fragrance of a Nation in Clearing Spring by Yun Shouping, which sparked an intense, half hour bidding war and eventually realised HK$59,650,000/ US$7,680,582 against its pre-sale low estimate of HK$3,000,000/ US$386,282. Other works from the collection also surpassed their pre-sale low estimates: lot 857 — Landscape Recalling Ni Zan and Huang Gongwang by Dong Qichang, which realised HK$12,250,000/ US$1,577,320 against the pre-sale low estimate of HK$1,000,000/ US$128,761; and lot 854 — Bamboo by Ke Jiusi, which sold for HK$9,250,000/ US$1,191,037 against its pre-sale low estimate of HK$500,000/ US$64,380.
Other esteemed private collections also realised exceptional prices and fervent bidding was witnessed for key works:
- The Ye Gongchuo Family Collection achieved HK$79,375,000/ US$10,220,389, with a 95% sell-through rate by lot and a hammer price of 695% above low estimate. Prices for several works surpassed multiple times their pre-sale low estimates: the top lot of the selection – lot 824 — Poems by Tao Zongyi by Various Artists, was sold after 10 minutes of fierce bidding for HK$41,050,000/ US$5,285,631, against its pre-sale low estimate of HK$200,000/ US$$25,752; lot 828 — Landscapes/ Flowers by Fu Shan and Fu Mei, which realised HK$13,450,000/ US$1,731,833 against its pre-sale low estimate of HK$3,500,000/ US$450,663; and lot 827 — Landscapes and Calligraphy by Li Rihua, which sold for HK$3,500,000/ US$450,663 against a pre-sale low estimate of HK$200,000/ US$25,752.
- The Hosokawa Family Collection was 100% sold, totalling HK$65,812,500/ US$8,474,070, and saw a hammer price of 751% above low estimate. The top lot of the collection was lot 894 — Mountain Retreat by Shen Shichong, which sold for HK$53,050,000/ US$6,830,760 against the pre-sale low estimate of HK$5,000,000/ US$643,804. Other top performing lots include lot 891 — Inscriptions in Running-Cursive Script by Li Dongyang, sold for HK$5,250,000/ US$675,994 against its pre-sale low estimate of HK$1,200,000/ US$154,513; and lot 892 — Two Poems in Running Script by Shen Zho, sold for HK$2,250,000/ US$289,712 against its pre-sale low estimate of HK$60,000/ US$7,726.
The Chamber of Young Snow Collection achieved HK$1,325,000/ US$170,747, led by lot 816 — Zhang Zongcang’s Mountain in the Rain, which sold for HK$437,500/ US$56,333.
Sale Highlights: Fine Chinese Modern and Contemporary Ink Paintings
- The auction totalled HK$296,331,250/ US$38,186,430, with a 82% sell-through rate by lot and 93% by value.
- The top lot of the sale was lot 1178 : Living in the Mountains by Zhang Daqian, sold for HK$24,250,000/ US$ 3,124,952.
- Additional leading highlights that achieved remarkable prices include:
Lot 1080: Splashed-colour Lotus by Zhang Daqian, sold for HK$12,250,000/ US$1,578,584
Lot 1077: Bamboo Valley by Pan Tianshou, sold for HK$11,650,000/ US$1,501,267
Lot 1067: Spring in Full Bloom by Wu Guanzhong, sold for HK$11,050,000/ US$1,423,947
Lot 1076: The Ye Gongchuo Family Collection - The Journey to Guangxi by Huang Binhong, sold for HK$8,650,000/ US$1,114,674 against its pre-sale low estimate of HK$1,500,000/ US$193,296
Lot 1161: Panel Screens of Flowers and Calligraphy by Wu Changshuo/ Kusakabe Meikaku, sold for HK$8,050,000/ US$1,037,355, against a pre-sale low estimate of HK$2,000,000/ US$257,728
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