• Press release
  • |
  • New York
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  • For immediate release
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  • 23 March 2018

RELEASE: Asian Art Week in New York Totals $56,581,500 / HK$441,783,723

CHRISTIE’S SELLS TOP LOTS FOR SIX CATEGORIES ACROSS ASIAN ART WEEK

Registered Bidders from Over 25 Countries | Five Continents

New York – Christie’s Asian Art Week sales realized USD $56,581,500 (£40,113,379 / €45,783,476 / HK$ 441,783,723) surpassing initial estimates. The six auctions took place from March 20-23 with 80% sold by lot and 87% sold by value. Across the 519 lots sold, 48.7% achieved above the high estimate. Deep bidding was witnessed from Greater China across all categories and there was active participation from registered bidders across more than 25 countries with representation from five continents. Across Asian Art Week, Christie’s claimed the top selling lots for Chinese ceramics, textiles, jades, furniture, South Asian Modern + Contemporary Art, and Indian, Himalayan, and Southeast Asian Art. See attached for full list.

The top lot of the sales week was a masterpiece by Syed Haider Raza, Tapovan, painted in 1972, which realized $4,452,500, setting a new world auction record for a modern Indian artist. The auction of South Asian Modern + Contemporary Art achieved the highest sale total for the category this season and established a new artist record for a modern Indian artist, and an additional record set for contemporary artist Ranjani Shettar, who is currently showing an installation at the Metropolitan Museum in New York.

Strong results were achieved for The Classic Age of Chinese Ceramics - The Linyushanren Collection, Part III, which doubled its low estimate, totaling $12,832,750, with 98% sold by lot and 100% sold by value. The top lot of the collection was The Bernat Ding ‘Partridge Feather’ Bowl, A Highly Important Ding Russet-Splashed Black-Glazed Conical Bowl dating from the Northern Song dynasty, which realized  $4,212,500.

Additional Asian Art Week highlights included A Large and Important Silver-Inlaid Gilt Bronze Figure of Buddha, Shakyamuni, Tibet, circa 1400, which was the highest price achieved for the category for the week selling for three times the low estimate for $3,612,500; A Rare and Exceptional Celadon-Glazed Relief-Decorated Bottle Vase, Qianlong seal mark in underglaze blue and of the period (1736-1795), which realized $1,212,500; a Song-Yuan dynasty handscroll of Sixteen Arhats, which realized $852,500; and the selection of dinner menus by Zhang Daqian from the collection of Min Chi Hsu, the artist’s private chef from 1977-1979, which collectively totaled $1,168,750.

Tina Zonars, Chairman of Asian Art, Christie’s, comments: “The strong sell-through rates and prices-realized this season reinforce the stability of the market and the global demand across all collecting categories of Chinese works of art and Chinese painting. Exceptional prices were achieved for Song dynasty ceramics as well as Qing imperial porcelains, jades, textiles, and classical Chinese furniture, demonstrating the expansion of the market and its sophisticated buying audience. There was robust participation across all auction channels with deep bidding witnessed from Greater China proving the continued success of Christie’s strategy in the region.”

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 Classical to the Modern and Contemporary. The South Asian Modern + Contemporary Art sale was a landmark auction, setting a new category record with Raza’s seminal Tapovan selling for $4.4 million. It was gratifying to see the price achieved by the impressive Silver-Inlaid Gilt Bronze Figure of Buddha, which sold for $3.6 million, more than three-times its low estimate. The strong prices realized this week reinforce the market’s strength and the growing global appetite for masterpieces across both categories.”

Online sales continue through March 27-28.

ASIAN ART WEEK | MARCH 20-23 | AUCTION RESULTS

RESULTS:

Fine Chinese Paintings

20 March | 10am | New York

Sale Total: $7,396,500

(£5,268,162 / €5,979,365 / HK$ 57,733,782) 

77% sold by lot | 91% sold by value

The Fine Chinese Paintings sale totaled $7,396,500, surpassing initial estimates. The top lot was Song-Yuan dynasty handscroll of Sixteen Arhats, which realized $852,500. Other notable results included Anonymous (previously attributed to Gu Hongzhong), Cock Fight, which realized $684,500, more than nine times it’s low estimate; Qi Baishi (1863-1957), Flowers and Fruit, which realized $552,500; Wang Fu (1362-1416), Mountainous Landscape, dated 1396, which realized $552,500, and the private family collections, notably those of General Joseph Stilwell and General Yu Jishi. Works offered by Zhang Daqian (1899-1983), were 100% sold, led by Bodhisattva, which realized $588,500; and the selection of dinner menus from the collection of Min Chi Hsu, private chef for Zhang Daqian from 1977-1979, which collectively totaled $1,168,750.

RESULTS:

South Asian Modern + Contemporary Art

21 March | 10am | New York

Sale Total: $10,289,250

(£7,333,749 / €8,367,808 / HK$80,348,546) 

83% sold by lot | 71% sold by value

RAZA’S TAPOVAN SETS WORLD AUCTION RECORD FOR A MODERN INDIAN ARTIST

Highest sale total achieved for the category this season

The South Asian Modern + Contemporary Art totaled $10,289,250, the highest sale total achieved for the category this season, with 83% by lot and 71% by value.

The top lot of the sale was a masterpiece by Syed Haider Raza, Tapovan, painted in 1972, which realized $4,452,500, setting a new world auction record for the artist and category. Other notable results included Tyeb Mehta, Two Figures, painted in 1994, which realized $1,812,500; Francis Newton Souza, The Politicians, painted in 1959, which realized $444,500; and Ranjani Shettar, Remenence from Last Night's Dream, executed in 2011, which realized $100,000, setting a world auction record for the artist who is currently showing an installation at the Metropolitan Museum in New York.

RESULTS:

Indian, Himalayan and Southeast Asian Works of Art

21 March | 2pm | New York  

Sale Total: $6,528,000

(£4,652,887 / €5,308,944 / HK$50,977,021) 

74% sold by lot | 88% sold by value

The Indian, Himalayan and Southeast Asian Works of Art totaled $6,528,000 with 74% by lot and 88% by value. The top lot for the sale was A Large and Important Silver-Inlaid Gilt Bronze Figure of Buddha, Shakyamuni, Tibet, circa 1400, which sold for three-times the low estimate for $3,612,500, also establishing the top lot for the category this season.

Other notable results included A Black Stone Stele of Durga Mahishasuramardini, Northeast India, Pala period, late 10th/early 11th century, which sold for $912,500; and A Large Bronze Figure of Parvati, South India, Tamil Nadu, Vijayanagara Period, 14th/15th century, which sold for $300,000. Strong results were realized for the group of Indian miniature paintings from the Estate of Stafford Elias, which were 100% sold and collectively realized $556,250.

RESULTS:

The Classic Age of Chinese Ceramics - The Linyushanren Collection, Part III

22 March | 10am | New York

Sale Total: $12,832,750

(£9,062,677 / € 10,358,640 / HK$ 100,196,915) 

98% sold by lot | 100% sold by value

The Classic Age of Chinese Ceramics - The Linyushanren Collection, Part III totaled $12,832,750, more than double the low estimate, with 98% sold by lot and 100% sold by value. Collectively, Part I, II, & II, have realized a combined total of $37,542,385.

The top lot of the sale was The Bernat Ding ‘Partridge Feather’ Bowl, A Highly Important Ding Russet-Splashed Black-Glazed Conical Bowl dating from the Northern Song dynasty, which realized  $4,212,500, also establishing the top lot for a Chinese work of art sold during Asian Art Week. Other notable highlights included the opening lot A Large Carved  Yaozhou Bowl, Northern Song dynasty, which realized more than ten times its low estimate selling for $372,500; A Superb and Very Rare Carved Ding ‘Peony’ Dish dating to the Northern Song-Jin dynasty, which more than doubled its low estimate realizing $948,500; and A Very Rare and Important Painted Cizhou ‘Fish’ Truncated Meiping also dating from the Northern Song-Jin dynasty, which tripled the low estimate realizing  $1,752,500.

RESULTS:

The Studio of the Clear Garden: Chinese Ceramics and Works of Art

22 March | 11:30 | New York

Sale Total: $2,107,125

(£1,488,083 / €1,700,879 / HK$16,452,236) 

76% sold by lot | 83% sold by value

The Studio of the Clear Garden: Chinese Ceramics and Works of Art totaled $2,107,125 with 76% sold by lot and 83% sold by value. The top lot of the sale was A Rare Large Ming-Style Blue and White Reverse-Decorated ‘Dragon’ Meiping, 18th century, which achieved more than four times its low estimate realizing $732,500.  Other notable results included A Very Rare and Superbly Carved Imperial Polychrome Lacquer Rectangular Tray, Qianlong incised six-character mark in a line and of the period (1736-1795), which realized $237,500; and A Robin’s Egg-Blue-Glazed ‘Lantern’ Vase, which realized $137,500, doubling its low estimate.

RESULTS:

Fine Chinese Ceramics and Works of Art

22 March at 2pm | 23 March at 10am & 2pm | New York

Sale Total: $17,427,875

(£12,307,821/ €14,067,840 / HK$136,075,223) 

80% sold by lot | 89% sold by value

The sale of Fine Chinese Ceramics and Works of Art totaled $17,427,875 with 80% sold by lot and 89% sold by value. The top lot of the sale was A Very Rare Huanghuali Six-Poster Canopy Bed, Jiazichuang, 17th-18th century, which realized $1,932,500. Other top lots included A Pair of Superb and Very Rare Huanghuali Square-Corner Cabinets, Late Ming dynasty, 18th Century, which realized $1,332,500; A Rare and Exceptional Celadon-Glazed Relief-Decorated Bottle Vase, Qianlong seal mark in underglaze blue and of the period (1736-1795), which realized $1,212,500; A Magnificent Imperial Yellow Kesi Twelve-Symbol Dragon Robe Made for the Emperor, Longpao, which realized $756,500; A Large Ming-Style Blue and White Moonflask, Qianlong- period, which realized $262,500; and A Rare Green and Yellow Enameled ‘Dragon’ Stem Bowl and Stand, 18th-19th century, which realized $250,000, more than twenty times the low estimate.

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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 single collection sale (the Collection of Peggy and David Rockefeller, 2018), and for a work by a living artist (Jeff Koons’ Rabbit, 2019).

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