Christie’s Spring Asian Art Sales Reaches $ 81 Million

The spring auction, dedicated to twentieth-century Asian art and contemporary art (there were three in total), was crowned with a total of 629,478,750 Hong Kong dollars ($ 81,076,863). At the same time, 60% of the lots were sold for an amount in excess of their estimated value, and 32 of them for an amount in excess of 10 million in Hong Kong currency (about 1.288 million dollars).

Photo: Blouin artinfo

The success of the bidding confirms that this segment is evolving and becoming more complex, and buyers are looking for work of exceptional quality. The cost of the ten most outstanding lots doubled their preliminary estimate. Especially obvious were the successes of modern masters: “Hearth” by Shan Young ($ 821,744) and “Opera Series: Beauty Defies Tyranny” by Lin Fengmyan ($ 1,498,717) - both works were bought five times more expensive than their experts estimated. These figures confirm the active interest in Asian art and the good awareness of buyers about different countries about its categories and periods.

Eric Chang, director of the international division of Asian art of the twentieth century and contemporary art, commented on the situation as follows: “The results of the bidding on Asian art of the twentieth century and contemporary art show that buyers are confident in Asian art, as in what is collect. At the auction, world records were set, both by Chinese artists and masters of Southeast Asia - this is the result of the integration of Southeast Asian art into Christie’s’s segment of contemporary Asian art. Given the state of the global economy, this is a definite answer, testifying to the potential of this category and a positive perception of the masterpieces of Asian art. ”

Christie’s Hong Kong Asian art auction reached $ 46,625,600.

About this, Eric Chan said this: “The integration of all categories of Asian art, demonstrated at Christie’s preliminary exhibitions, has strengthened regional and cultural exchanges, making the high potential of this diverse market more apparent. Another notable trend was the constant search for excellence among collectors - buyers are eager to find works of the highest quality and with the best provenance. The success of merging all of these categories has confirmed the record for an Indonesian contemporary master, Effendi, set at today’s auction. His work, “On Cockfights,” was sold almost four times as much as the preliminary estimate for 5.54 million Hong Kong dollars (713.5 thousand dollars). We are looking forward to Christie’s daytime bidding on twentieth-century Asian art and contemporary art. ”

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