• Press release
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  • New York
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  • For immediate release
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  • 18 September 2017

RESULTS: Asian Art Week totals $43.45 million

LEFT: THE YA YI FANGDING, A HIGHLY IMPORTANT AND RARE BRONZE RECTANGULAR RITUAL FOOD VESSEL, LATE SHANG DYNASTY, ANYANG, 13TH-11TH CENTURY BC. PRICE REALIZED: $3,372,500
CENTER: VASUDEO S. GAITONDE (1924-2001), UNTITLED, OIL ON CANVAS, PAINTED IN 1996. PRICE REALIZED: $4,092,500
SECOND HIGHEST PRICE PAID FOR THE ARTIST
RIGHT: A LARGE AND IMPORTANT GILT-BRONZE FIGURE OF BUDDHA, NEPAL, 13/14TH CENTURY. PRICE REALIZED: $3,852,500

New York – Christie’s Asian Art Week sales realized USD $43,453,375 (£32,799,352 / €36,389,045 / HK$337,862,258) surpassing initial estimates and continuing Christie’s leadership in the market. The seven auctions took place from September 12-15 with 80% sold by lot and 154% sold by low estimate. Deep bidding was witnessed from Greater China across all categories and there was active participation from registered bidders across 33 countries with representation from five continents including North America, South America, Europe, Asia, and Australia.

The top lot of the sales week was a seminal painting by Vasudeo S. Gaitonde (1924-2001), Untitled, from the South Asian Modern + Contemporary Art sale, which sold for $4,092,500, establishing the second highest price paid for the artist. Asian Art Week highlights included A Large and Important Gilt Bronze Figure of Buddha, Nepal, 13th/14th century from The Collection of Baroness Carmen Thyssen-Bornemisza, which realized $3,852,500, over six times the initial estimate, the Ya Yi Fangding, A Highly Important and Rare Bronze Rectangular Ritual Food Vessel from the late Shang Dynasty, which realized $3,372,500; a pair of dramatic hanging scrolls by Ding Yunpeng (1547-1628) and Sheng Maoye (active 1607-1638), Luohans, which sold for $1,068,500, more than five times the low estimate; and fine examples of classical Chinese furniture led by A Very Rare Pair of Zitan Continuous Horseshoe-back Armchairs, Quanyi, which realized $792,500.

Two records were set for contemporary Indian artists including Manjit Bawa (1941-2008), Untitled (Krishna and Cow), which realized $780,500, more than doubling its low estimate; and Ardeshir Davierwalla (1922-1975), Galaxy, which sold for $187,500, more than four times its low estimate. Stand-alone sales for Chinese works of art experienced strong results with many lots in Marchant: Nine Decades in Chinese Art greatly exceeding estimates and extremely strong sell-through rates in Treasures of the Noble Path: Early Buddhist Art from Japanese Collections.

Tina Zonars, Chairman of Asian Art, Christie’s, comments: “We were delighted to see the strong sell-through rates and prices-realized across all collecting categories of Chinese works of art and Chinese painting, reinforcing the stability of the market and its global demand at the start of the auction season. The Ya Yi Fangding bronze from the Shang dynasty was the top selling Chinese work of art, surpassing its high estimate realizing over $3.3 million. Exceptional prices were realized for examples of classical Chinese painting, imperial ceramics, celadon ware and jades. There was robust participation across all auction channels with deep bidding witnessed from Greater China demonstrating the success of Christie’s dynamic strategy in the region, which has seen us open major exhibition spaces in Shanghai and Beijing in recent years.”

Deepanjana Klein, International Head of Classical and Contemporary Indian and South Asian Art, remarks: “This was an incredibly strong season for Indian, Himalayan, and Southeast Asian Art spanning traditional works of art to contemporary painting. We were so pleased to see the top two lots of the week come from these categories, with Gaitonde’s Untitled, painted in 1996, selling for over $4 million, establishing the second highest price paid for the artist and the Thyssen-Bornemisza Gilt Bronze Buddha, from 13th/14th Century Nepal, selling for $3.8 million, more than five times its low estimate. The strong prices realized for these categories reinforces the market’s strength and global reach.”

Fine Chinese Paintings

12 September 2017 | 10am | New York

Sale Total: $2,674,625

(£2,026,231 / €2,230,880 / HK$20,795,203) 

76% sold by lot | 85% sold by value

The top lot for the sale was a pair of dramatic hanging scrolls by Ding Yunpeng (1547-1628) and Sheng Maoye (active 1607-1638), Luohans (estimate: $200,000-400,000), which realized $1,068,500.

The Ruth and Carl Barron Collection of Fine Chinese Snuff Bottles: Part V

13 September | 10am | New York

Sale Total: $870,125

(£653,738 / €725,649 / HK$ 6,767,493) 

100% sold by lot | 100% sold by value

The top lot for the sale was A Carved Grey, Black and White Jade Snuff Bottle, Master of the Rocks School, 1740-1840, which realized $47,500, nearly doubling the low estimate.

South Asian Modern + Contemporary Art

13 September | 10am | New York

Sale Total: $9,885,625

(£7,427,216 / €8,244,210 / HK$76,886,537) 

83% sold by lot | 89% sold by value

GAITONDE REALIZES OVER $4 MILLION

Two World Auction Records Set for Artists

The top lot for the sale was a seminal painting by Vasudeo S. Gaitonde (1924-2001), Untitled, painted in 1996, which realized $4,092,500, surpassing initial estimates and establishing the second highest price paid for the artist. Other highlights included Tyeb Mehta (1925-2009), Untitled (Falling Figure), painted in 1991, which realized $1,632,500, Manjit Bawa (1941-2008), Untitled (Krishna and Cow), painted in 1998, which realized $780,500, more than doubling its low estimate and setting the world auction record for the artist, and Ardeshir Davierwalla (1922-1975), Galaxy selling for $187,500, more than four times its low estimate, setting the world auction record for the artist.

Indian, Himalayan and Southeast Asian Works of Art

13 September | 2pm | New York

Sale Total: $6,208,750

(£4,664,726 / €5,177,846 / HK$48,289,237) 

71% sold by lot | 88% sold by value

The top lot for the sale was A large and important gilt bronze figure of Buddha, Nepal, 13th/14th century (estimate: $600,000-800,000), from The Collection of Baroness Carmen Thyssen-Bornemisza, which realized $3,852,500, over six times the initial estimate.

Marchant: Nine Decades in Chinese Art

14 September | 10am | New York

Sale Total: $2,365,625

(£1,790,784 / €1,987,770 / HK$ 18,389,555) 

78% sold by lot | 80% sold by value

The top lot for the sale was An Exceptional Rare and Large Famille Rose Vase, which realized $372,500. Strong results were achieved for Imperial porcelain, jades, later bronzes, and celadon wares dating to the Yuan and Ming dynasty. Additional highlights include A Peachbloom-Glazed Seal Paste Box and Cover, Yinse He, which sold for $162,500; An Imperial Yellow-Glazed Dish, which sold for $118,750, over five times low estimate; and A Rare Longquan Celadon Carved Jar and Cover, which realized $137,500.

 

Treasures of the Noble Path: Early Buddhist Art from Japanese Collections

14 September | 11:30am | New York

Sale Total: $3,922,500

(£2,969,341 / €3,295,969 / HK$30,492,166 ) 

93% sold by lot | 100% sold by value

The top lot for the sale was A Rare and Important Gilt-Bronze Standing Figure of Buddha, from Korea, United Silla Period (AD 668-935), probably 8th century, which realized $732,500, over nine times it’s low estimate. The overall sale had strong sell through rates of 93% sold by lot and 100% sold by value and the sale’s total of $3,922,500 was more than five times its low estimate.

 

Fine Chinese Ceramics and Works of Art

14 September | 2pm | 15 September | 10am & 2pm

Sale Total: $17,526,125

(£13,267,316 / €14,726,721 / HK$136,242,067) 

71% sold by lot | 81% sold by value

The top lot of the sale was the Ya Yi Fangding, A Highly Important and Rare Bronze Rectangular Ritual Food Vessel from the late Shang Dynasty, which realized $3,372,500. Other sale highlights included  A Very Rare Pair of Zitan Continuous Horseshoe-back Armchairs, Quanyi, which realized $792,500; A Highly Important Imperial Spinach-Green Jade Book Set from the Qianlong Period, which sold for $396,500; A Very Rare Blue and White Pear-Shaped Bottle Vase, Yuhuchuping, which sold for $612,500; and A Rare Blue and White ‘Deer and Crane’ Vase, which realized $732,500 against an estimate of $50,000-80,000.

 

About Christie’s

Christie’s, the world's leading art business, had auction sales in 2019 that totalled £4.5 billion / $5.8 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and international expertise. Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery.

Alongside regular sales online, Christie’s has a global presence in 46 countries, with 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, and Shanghai.

*Please note when quoting estimates above that other fees will apply in addition to the hammer price - see Section D of the Conditions of Sale at the back of the sale catalogue.

*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and are reported net of applicable fees.