The Christie’s Hong Kong Evening Sale of Asian 20^th Century and Contemporary Art on 28 May was a triumph for artists and bidders alike. The sale achieved a grand total of HKD 484 million (USD 62.2 million) with 95% sold by value and 93% sold by lot. The top two lots were works by Chinese-French painter Zao Wou-Ki. 2.11.59 (above) sold for HKD 40,980,000 (USD 5,265,930), while 14.11.63 came under the hammer for HKD 38,740,000 (USD 4,978,090).

Given that the result was double the pre-sale estimate and a 74% increase from Autumn 2010, Eric Chang, International Director of Christie’s Hong Kong Chinese 20th Century Art & Asian Contemporary Art, expressed his jubilance. “Since interest before the sale was so strong, we decided for the first time to set up two salerooms to offer concurrent bidding. It was very exciting to see the competitive bidding between these two packed salerooms, which added to the electrifying atmosphere. In addition to Chinese 20th Century artists, we also introduced Asian masters from Korea, such as Lee Ufan, and from Japan Leonard Tsuguharu Foujita and Zenzaburo Kojima, whose Nude Reclining on Yellow Chair broke the artist’s record at HK$2,660,000 /US$341,810. We are gratified that the strong prices for these Asian masters show that the Asian art market is consolidating and maturing in the same way that the London and New York art markets have developed.” He further adds “Another highlight of the evening was the charity auction of a work by renowned Chinese contemporary artist Zeng Fanzhi’s The Leopard, which raised HK$36 million. With Christie’s waiving all commissions, the proceeds of the sale of this work will go to The Nature Conservancy. We are privileged to be part of this worthy cause”.

Christie’s