HKD 215 Million Richter's Abstract Painting, Leading Hong Kong Contemporary & Modern Art Sales in October 6
Recently, various auction houses are preparing the autumn auctions in Hong Kong in full swing, follow by San Yu and Wu Guanzhong who is leading waves at modern art field in October 5th, there was another high tide for contemporary arts. Today's contemporary art sale received a total of HKD 792 million. Gerhard Richter's Abstraktes Bild (649-2) was sold for 215 million, and became the highest priced Western artwork that has ever been sold in Asia, the result is dazzling.
Among them, Sotheby's Modern & Contemporary Southeast Asian Art Day Sale and Modern Art Day Sale ended perfectly, with a sold-by-lot rate more than 80%, with HKD 36.72 million and 65.22 million respectively. The high-profiled Contemporary Art Evening Sale of Sotheby's launched night auctions in Hong Kong, London, and New York, and received total 684 million Hong Kong dollars, which ended perfectly with a transaction rate of over 90%.
Contemporary Art Evening Sale of Sotheby's
The Sotheby's Contemporary Art Evening Sale is led by Gerhard Richter's lots and incorporates many masterpieces from both Eastern and Western artists. Among the total of 39 pieces in this night, David Hockney and Ellsworth Kelly's works were withdrawn from the auction, there are 34 lots were sold and 12 lots reached over ten million Hong Kong dollars, one piece over 200 million.
The Top1 Priced Work: The most expensive Western art auctioned in Asia
Abstraktes Bild (649-2) of Gerhard Richter is the highest-valued Western artwork on Asian market ever. It has already attracted attention before opening. The stacked pigments in the painting echoing each other and have their own characteristics that shows the extraordinary painting skills of the artist. This is also one of his most famous works. As soon as the bidding started, its price rising up quickly, after more than 20 rounds fierce bidding, the last two remains were buyers from Hong Kong and London through telephone. Eventually it was successfully sold to No.15 collector with HKD 215 million and became the highest priced of Western artwork in Asia.
Top2 Most Expensive In The Field:
Banksy's Forgive Us Our Trespassing (In Four Parts) received an estimate of 16-32 million Hong Kong dollars which is also the focus of this intense competition. The two bidders through telephones are from Hong Kong and New York respectively, and finally sold to No.4 buyer through telephone commission with HKD 64.11 million
The Most Expensive Top3 & Top4: Eastern and Western artists shows their own prowess
The Dark Trilogy: Fear, Meditation, Sorrow (in three panels) of Zhang Xiaogang sold with HKD 54.92 million, became the Top3 in this field. It is reported that this lot is one of only two triptychs created by Zhang Xiaogang in his early career which had great value. In contrast, his another work Bloodline-big Family: Family Portrait ended in unsuccessful auction.
Adrian Gurney's Lidless Eye is also the Top3 in this auction, which received an appraisal of 42-62 million Hong Kong dollars with a final price in the valuation range.
Top 5 Most Expensive In This Field:
Study For A Portrait of Francis Bacon was created in 1979, the portrait is emphasized under the contrast of blue-green background, like the artist is telling stories with his right emotion. This work received an estimate of 29-38 million Hong Kong dollars and was sold at HKD37.68 million
Other Exciting Works:
In addition, Otis Kwame Kye Quaicoe's Flower Boy is the dark horse of the game, which was sold five times above the estimate price. Yayoi Kusama’s Pumpkin (CHA)and Zeng Fanzhi’s Mask Series No.11 also achieved good results.
Sotheby's Modern Art Day Sale
The Modern Art Day Sale of Sotheby’s in this season has presented 106 lots, covering many wonderful lots of both Eastern and Western artists, with a sold-by-lot rate of 84.9% and total turnover of HKD 65.22 million.
Among them, Lin Fengmian's Chinese Opera Series: Scene Of Assassination Of Wang Liao was sold for 8.88 million Hong Kong dollars, Chu Teh-Chun's Exploration Nocturne was sold for HKD 8.16 million, and Fujita Tsuguharu's Roses Et Lilas was sold for HKD 6.5804 million. These three lots occupies the top3 spots in auction.
Sotheby's Modern and Contemporary Southeast Asian Art Day Sale
The Modern and Contemporary Southeast Asian Art Day Sale of Sotheby's also opened at October 6th with 83 pieces of 99 lots were sold for a total of 36.72 million Hong Kong dollars. Among them, Le Pho's Filles Dans Le Jardin, Ha Long Bay of Bùi Xuân Phái, and Benedicto Reyes Cabrera's Untitled (Sabel) were sold at a significant overestimation.
Top 1 Most Expensive:
Bonhams Modern and Contemporary Southeast Asian Art
Modern and Contemporary Southeast Asian Art of Bonhams had total 30 lots up for auction and received total turnover of 5.96 million Hong Kong dollars, two of which were sold for over one million Hong Kong dollars.
Top 1 Most Expensive:
Please enter auctions to view more lots information, ArtPro will continue follow the global auction news in October auction season, to present you with more market dynamics.