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Christie’s Historic Shanghai to London Sale Season Realised a Combined Total of
£282,523,743 / RMB 2,365,820,207 / $378,453,843 / €337,559,649

Christie’s 20/21 Auction Week in Review

MUSEUM QUALITY MASTERPIECES LEAD THE SEASON
• Museum quality masterpieces by Francis Bacon, Franz Marc, Lucian Freud and Pablo Picasso led the historic series of Evening Sales, Shanghai to London at Christie’s
• Franz Marc’s The Foxes (Die Füchse), a seminal work by a father of 20th Century Modernism sold for £42,654,500, breaking the record for the artist, and is now among the top five selling works sold in London in the last decade
• Francis Bacon’s Triptych 1986-7 sold for £38,459,206, one of the top ten prices achieved in London in the last ten years. The sale coincided with the Royal Academy’s seminal exhibition ‘Francis Bacon: Man and Beast’ in London, which Christie’s are sponsoring
• Pablo Picasso’s surrealist masterpiece, La fenêtre ouverte, a self-portrait of the artist with his great muse Marie-Thérèse, offered at auction for the first time, led The Art of the Surreal Evening Sale (£16,319,500)
• Lucian Freud’s intimate and tender portrait, Girl with Closed Eyes (1986-87) made its auction debut, selling for £15,174,500

INNOVATIVE GLOBAL SALE PLATFORM DELIVERS STRONG RESULTS
• 
As part of Christie’s continuing innovation around the 20/21 platform, a cultural dialogue was instigated between major international art hubs on 1 March, marking a historic moment in a first of its kind relay auction between Shanghai and London
• The pioneering Evening Sales format delivered a total of £249,070,155 / RMB 2,087,955,108 / $334,003,078 / €297,389,765, the highest to date for an Evening at Christie’s
• Christie’s is the only international auction house licensed to operate auctions in Mainland China
• The 20th / 21st Century: Shanghai Evening Sale inaugurated Christie’s new galleries at BUND ONE, No. 1 East Zhongshan Road
• The 20th / 21st Century: Shanghai Evening Sale was the first sale to be conducted in the city since the pandemic began

MARKET CONFIDENCE IN 2022
• 
With an overall sell-through rate of 94% by value and 88% by lot across five auctions, the sale season is an indicator of market confidence for 2022
• Sell-through rates of 90% by lot and 93% by value in the Shanghai to London Evening Sales on 1 March demonstrate the global appetite for art from the 20th and 21st centuries in our unique auction platform
• Across five sales, registered bidders from 68 countries and 6 continents reflect the strength of global demand
• Millennial collectors accounted for 28% of registrants in the Evening Sale platforms on 1 March
• APAC clients represented 43% of bidders and buyers in the Shanghai to London Evening Sale Series

SHANGHAI’S INAUGURAL SALE IN BUND ONE
• 
A total of RMB 222,030,200 was realised for the Shanghai portion of the series, selling 95% by lot and 90% by value
• This total represented an increase of 50% since our last sale in Shanghai (2019)
• The 20th / 21st Century: Shanghai Evening Sale was highlighted by Jean-Michel Basquiat’s II Duce (RMB 94,160,000)
• Further top lots included Le soir à l ’Hôtel du Palais by Zao Wou-Ki (RMB 24,360,000)Anchor
• Kees van Dongen’s La femme au collier realised RMB 23,160,000, in the artist’s auction debut in China
• Marc Chagall’s Le bouquet de lilas sold for RMB 18,960,000

CONTEMPORARY AND FIGURATIVE ARTISTS ATTRACTED DEEP COMPETITION
• 
Kees van Dongen’s La femme au collier realised RMB 23,160,000, in the artist’s auction debut in China
• Marc Chagall’s Le bouquet de lilas sold for RMB 18,960,000 
• Ewa Juszkiewicz's Untitled was pursued by international bidders before selling for RMB 3,276,000
• Scott Kahn’s Into the Woods sold for RMB 5,670,000
• Amoako Boafo’s Orange Shirt achieved RMB 8,760,000
• Flora Yukhnovich’s Tu vas me faire rougir (You’re going to make me blush), derived from Jean-Honoré Fragonard’s The Swing (1767), sold for £1,902,000, more than seven times the pre-sale estimate
• Jadé Fadojutimi’s Acquainted Intruder sold for £942,000
• World of Women, Woman #5672, a rare NFT from one of the few female-led NFT initiatives in the web3 space, sold for £567,000
• Peter Doig’s Some Houses on Iron Hill attracted spirited bidding from London, New York and Shanghai on the telephones and via Christie’s Live, selling for £2,442,000, more than four times the pre-sale estimate

ARTIST RECORDS ACROSS THE SEASON
• 
Spirited international bidding delivered record prices across the Evening and Day Sales
• In total 21 auction records were achieved:
• Eileen Agar, Harlequin, £63,000, Record in the Medium for a Painting
• Eugène Boudin, La plage de Trouville, £2,262,000
• Winston Branch, When I need my Father’s Eyes, £126,000
• Billy Childish, toward a shore, £163,800
• Anne Collier, Woman Crying (Comic) #16, £100,800
• Genieve Figgis, Debutants Ball, RMB 4,032,000
• Erika Giovanna Klien, Trauer, £50,400, Record in the Medium for a Work on Paper
• Victor Man, D with Raven, £214,200
• Franz Marc, The Foxes (Die Füchse), £42,654,500
• Marino Marini’s Cavallo e Cavaliere (£189,000), Record in the Medium for a Work on Paper
• Joel Mesler, Untitled (You Deserve Great Things), RMB 5,670,000
• MR., May – Blue Hawaii, £504,000
• Gabriele Münter, Gelbes Haus mit Apfelbaum (recto); Landschaft (verso), £1,782,000
• Angel Otero, Riders on the Storm, £252,000
• Pablo Picasso, Le repas frugal, £6,014,500, a world record for any print at auction
• Atanda Quadri Adebayo, Let Love Lead, £20,160*
• 
Pierre-Auguste Renoir and Richard Guino, La grande laveuse accroupie (£693,000), Record in the Medium for a Sculpture
• Mario Schifano, Grande Particolare, £882,000
• Emmanuel Taku, Ripped, RMB 1,638,000
• Adjei Tawiah, Pink Suit, £50,400*
• Peter Uka, Invisible Guardian, £56,700*

THE ART OF THE SURREAL EVENING SALE
• 
The 21st edition of The Art of the Surreal Evening Sale is the only annual international auction platform dedicated to the art of Surreal and Dada artists,
• The Sale achieved a total of £39,888,380, selling 100% by lot and 100% by value.
• Led by Pablo Picasso’s La fenêtre ouverte the sale was also highlighted by five paintings by René Magritte:
             • La lumière du pôle (£5,993,500)
             • La méditation (£2,922,000)
             • La mémoire (£2,082,000)
             • La belle hérétique (£942,000)
             • L’endroit du décor (£781,200)
             • Paul Delvaux’s Le soir tombe sold for £1,902,000
             • Joan Miró’s Personnage, oiseau, étoile dans un paysage realised £3,042,000, while Personnage et oiseau achieved £2,322,000
             • Other strong results for surrealist artists included Yves Tanguy and Salvador Dalí

STRONG RESULTS ACHIEVED FOR 20/21 DAY SALES

• Reflecting the depth of interest witnessed in the Shanghai to London sale series, the Post-war and Contemporary Art Day Sale achieved £14,168,940 with strong sell through rates of 98% by value and 89% by lot
• The Impressionist and Modern Day And Works On Paper Sale realised £19,284,648, selling 94% by value and 86% by lot
• Banksy’s iconic Love is in the Air realised the top price in the Post-War and Contemporary Art Day Sale, selling for £978,000
• Yayoi Kusama’s Pumpkin [TOWSSO] achieved £831,600 against a pre-sale estimate of £200,000
• Marc Chagall’s Scène de cirque led the Impressionist and Modern Day and Works on Paper Sale, selling for £1,842,000, double the high estimate of £900,000. Further works by the artist also achieved above estimate prices: Tête de vache or La vache (£1,422,000) and Les amoureux au village sur fond rouge (£743,400)
• In keeping with the Evening Sale series, outstanding results in the 20/21 Day Sales were achieved for:
               • Bernard Boutet de Monvel, Vue de New York (£579,600)
               • Paul Cézanne, Cinq Baigneuses (Recto); Etudes De Baigneuse (Verso) (£466,200)
               • Giorgio de Chirico’s, Piazza D'italia Con Arianna (£466,200)
               • Walter Dexel, Lokomotive von Vorne (£302,400)
               • Isshaq Ismail, Unknown Faces No 3 (£138,600)
               • Tomokazu Matsuyama, Losing You More (£214,200)
               • Hilary Pecis, Kitchen Counter (£252,000)
               • Paula Rego, School for Little Witches (£415,800)
               • Georges Vantongerloo,Courbes (£428,400)
               • Flora Yukhnovich, Study of Putti (£302,400)


CHARITABLE COLLABORATIONS

• Christie’s will make a donation to the United Nations Refugee Agency, complementing our support for The Red Cross announced earlier this week. In addition, we are extremely grateful that the consignor of Sonia Delaunay’s Nature morte portugaise has joined our efforts and decided to direct part of the sale proceeds to the United Nations Refugee Agency. The painting realised £693,000
• Antony Gormley’s Root achieved £350,000 (hammer price), to benefit the environmental charity ClientEarth, as part of the initiative with the Gallery Climate Coalition, Artists for ClientEarth, which has  the raised a total of £4,989,064 (hammer price) to date
• Other charitable sales included Fernand Léger’s Composition which realised £6,243,500, with proceeds benefitting the Volkart Foundation
• Pablo Picasso’s Jeune homme de profil from The Berggruen Family Collection sold for £233,100 to benefit New York’s Carnegie Hall

Christie’s 20th/21st Century Art Sales continue with First Open: Post-War and Contemporary Art Online, which remains open for bidding until 9 March 2022.

About Christie’s

Founded in 1766, Christie’s is a world-leading art and luxury business. Renowned and trusted for its expert live and online auctions, as well as its bespoke private sales, Christie’s offers a full portfolio of global services to its clients, including art appraisal, art financing, international real estate and education. Christie’s has a physical presence in 46 countries, throughout the Americas, Europe, Middle East, and Asia Pacific, with flagship international sales hubs in New York, London, Hong Kong, Paris and Geneva. It also is the only international auction house authorized to hold sales in mainland China (Shanghai).

Christie’s auctions span more than 80 art and luxury categories, at price points ranging from $200 to over $100 million. In recent years, Christie’s has achieved the world record price for an artwork at auction (Leonardo da Vinci’s Salvador Mundi, 2017), for a 20th century artwork (Andy Warhol’s Shot Sage Blue Marilyn, 2022) and for a work by a living artist (Jeff Koons’ Rabbit, 2019). Christie's is also recognised as a reference for prestigious single owner collections, having auctioned 8 of the 10 most important collections in history.

Christie’s Private Sales offers a seamless service for buying and selling art, jewellery and watches outside of the auction calendar, working exclusively with Christie’s specialists at a client’s individual pace.

Recent innovations at Christie’s include the groundbreaking sale of the first NFT for a digital work of art ever offered at a major auction house (Beeple’s Everydays, March 2021), with the unprecedented acceptance of cryptocurrency as a means of payment. As an industry leader in digital innovation, Christie’s also continues to pioneer new technologies that are redefining the business of art, including use of hologram technology to tour life-size 3D objects around the world, and the the creation of viewing and bidding experiences that integrate augmented reality, global livestreaming, buy-now channels, and hybrid sales formats. 

Christie’s is dedicated to advancing responsible culture throughout its business and communities worldwide, including achieving sustainability through net zero carbon emissions by 2030, and actively using its platform in the art world to amplify under-represented voices and support positive change.

Browse, bid, discover, and join us for the best of art and luxury at: www.christies.com or by downloading Christie’s apps. The COVID-related re-opening status of our global locations is available here.