RESULTS: Christie's Hong Kong Asian Contemporary Art (Day Sale)

Sold:   HK$  97,223,500

US$ 12,522,387

£ 7,991,772

€ 10,004,298

Lots Sold: 211

Lots Offered: 294

Sold by Lot: 72%

Sold by Value: 79%

Exchange Rate: HK$1 = US$0.1288/£0.0822/€0.1029

Lot

Description

Estimate (HK$)

Purchase Price

Buyer

2396

SHANG YANG (B. 1942)

Hearth

800,000 - 1,200,000

HK$ 6,380,000

US$ 821,744

£ 524,436

€ 656,502

Asian Private

2450

ZENG FANZHI (B. 1964)

Mask

2,500,000 - 3,500,000

HK$ 5,060,000

US$ 651,728

£ 415,932

€ 520,674

Asian Private

2365

FANG LIJUN(B. 1963)

1998.3.1

2,500,000 - 3,500,000

HK$ 4,220,000

US$ 543,536

£ 346,884

€ 434,238

Asian Private

2368

ZENG FANZHI (B. 1964)

Mask Series No. 11

2,000,000 - 3,000,000

HK$ 3,620,000

US$ 466,256

£ 297,564

€ 372,498

European Private

2366

LIU YE (B. 1964)

Angels in Flight

1,000,000 - 1,500,000

HK$ 3,380,000

US$ 435,344

£ 277,836

€ 347,802

Asian Private

2409

YAYOI KUSAMA (B. 1929)

Pumpkin

2,800,000 - 3,200,000

HK$ 3,140,000

US$ 404,432

£ 258,108

€ 323,106

Asian Private

2416

ZHANG XIAOGANG (B. 1958)

Bloodline Series

2,000,000 - 3,000,000

HK$ 2,660,000

US$ 342,608

£ 218,652

€ 273,714

European Private

2433

YAN PING (B. 1956)

Spring Flavour; & Rabbit

800,000 - 1,000,000

HK$ 2,660,000

US$ 342,608

£ 218,652

€ 273,714

Asian Private

2494

LIU DAHONG (B. 1962)

The Honeymoon

180,000 - 260,000

HK$ 2,540,000

US$ 327,152

£ 208,788

€ 261,366

Asian Private

2376

YOSHITOMO NARA ( (B. 1959)

Drum

1,500,000 - 2,000,000

HK$ 2,420,000

US$ 311,696

£ 198,924

€ 249,018

Asian Private

The spring season’s three sales of Asian 20th Century and Contemporary Art achieved HK$629,478,750 (US$81,076,863). 60% of the sold lots realized in excess of the high estimate and 13 lots of those sold realized in excess of HK$10,000,000 (US$1,288,000).

The success of the sales affirms the increased sophistication of the collecting market for this category, with buyers seeking exceptional works of quality. For the top ten lots in the sales, the sold price was more than double the pre-sale estimate and particularly noticeable were the results for contemporary artist, Shang Yang’s, Hearth, (HK$ 6,380,000 / US$ 821,744), as well as modern master Lin Fengmian’s, Opera Series: Beauty Defies Tyranny, (HK$ 11,636,000 / US$ 1,498,717), both of which achieved in excess of five times their estimate. These figures confirm the robust appetite for Asian art and demonstrate a strong level of confidence from a diverse range of international buyers across categories and periods.

Eric Chang, International Director of Asian 20th Century & Contemporary Art, commented, “The results of this season’s sales of Asian 20th Century and Contemporary Art attest to the strong level of confidence that buyers have for Asian art as a global collecting category. The sale witnessed world auction records for both Chinese and Southeast Asian artists, which is a result of Christie’s integration of Southeast Asian Art into our 20th Century & Contemporary Asian Art category.  Given the state of the global economy, this is a robust response and one that is indicative of the potential for continued growth in the category and a bright overall outlook for masterworks of Asian art.”

Images can be downloaded here:

http://cshk.myftp.org/2012%20Spring%20Christie's%20Hong%20Kong%20Auctions/A20CA/RESULTS/

To view the full auction results:

Asian 20^th Century & Contemporary Art (Evening Sale, 2905)

http://www.christies.com/lotfinder/searchresults.aspx?intsaleid=23879&viewType=list#action=refine&intsaleid=23879&viewType=list&sid=d9085517-fe28-4dd9-ad40-26239aa5ddeb

Asian 20^th Century Art (Day Sale, 2906)

http://www.christies.com/lotfinder/searchresults.aspx?intsaleid=23880&viewType=list

Asian Contemporary Art (Day Sale, 2907)

http://www.christies.com/lotfinder/searchresults.aspx?intsaleid=23881&viewType=list#action=refine&intsaleid=23881&viewType=list&sid=cb1e3f5d-d987-468e-b901-b94be7a1713e