Auction Report: San Yu's Flower And Animal Paintings Were Sold Over HKD 100 Million, Modern & Contemporary Art Sales In Hong Kong Ended With HKD 1.419 Billion On December 2rd
Following the end of the October auction season, the December autumn auctions are in full swing. The autumn auctions in Hong Kong and Beijing have kicked off. Various auctions houses will begin their performances. On December 2rd, 「Modern And Contemporary Art Evening Sale」, 「Sanyu: Goldfish」, 「20th Century: Hong Kong Session」, have been presented in the same day. A total of HKD 1.419 billion was collected and 74 lots were sold.
「Modern And Contemporary Art Evening Sale」
On December 2rd, 「Modern And Contemporary Art Evening Sale」 hammering at 94.8% sold-by lot rate, with total turnover of HKD $844,925,000. Throughout the auction, a total 58 pieces of modern and contemporary art from both Eastern and Western masters were presented. The top three most expensive sales were from San Yu, Zhang Xiaogang and Zao Wou-Ki. Artists like Chu Teh-Chun, Tsuguharu Foujita, Yoshitomo Nara, etc. have also achieved good results.
Top1 Priced Work:
The most expensive sale in this auction is Pink Chrysanthemum In Basket of San Yu. Potted flowers are one of the most classic themes of his practice. This work was created in 1931, with black, white, gray, and pink as the main colors. The exquisite floral subject and the freehand lines of unique style have left with deep impression.
The appraisal of this lot was HKD $68-98 million. The atmosphere of bidding was fierce. In the end, the No. 8162 client has received the lot at a price of HKD $170 million. At the same time, this piece has also settled as the Top 8 of San Yu.
Top2 Priced Work:
Zhang Xiaogang's Bloodline-big Family No. 2 was estimated at HKD $38 to 48 million. Starting from HKD $30 million, the auction entered fierce bidding. After more than 30 bids, it was hammering at HKD $83 million with a commission fee of HKD $98.03 million. The No. 8074 collector received lot and applause on site. This work also broke the artist's personal record, the HKD $94.2 million priced Bloodline-big Family No. 3 in 2014.
Top3 Priced Work:
The third expensive lot in this auction is 15.01.82 of Zao Wou-Ki, which was estimated at HKD $70 -120 million. The appraisal of this work was the most expensive in the field. It has been sold at Sotheby’s Hong Kong in October 2013 with HKD $85.24 million. After 7 years it was auctioned again. This triptych work has once again become the focus on field and the bidding is fierce, the final price was HKD $ 94.6 million.
New Auction Record
Besides the top three works, there are other three artists have set their personal records. Market of Vicente Manansala was hammered at HKD $6 million, Dedicated To Red Poppies of Rhee Seund Ja was hammered at HKD $4 million, and Untitled (White/black Inside) of Mary Corse was sold with HKD $4 million.
The Black Horses
There are also many outstanding performances under the spotlight. Homeward (Triptych) of Matthew Wong, Gyatso's Palace of Huang Yuxing, and Jiangnan Scenery Is The Best In The World of Pang Jiun, all have been sold significantly above their appraisal, as the dark horses with outstanding results.
「Sanyu: Goldfish」
Goldfish is one of the most unique oeuvre in San Yu art career. This time, Christie's has presented this work as the final piece of the evening sale in a special format. Goldfish is not only the sustenance of the oriental charm of the artist, but also has the essence of western modern art. It was estimated at HKD $120-180 million. After fierce competition, it was finally sold to the No.8162 telephone commission client with HKD $146 million.
This work has been auctioned at Sotheby’s in October 1997 with a price of USD $280,000; then, it was auctioned again at Sotheby’s in October 2013 and sold for HKD $67.32 million, this time it received HKD $170 million. The annualized rate of return is 13.93%, which also broke the record for the most expensive animal paintings of San Yu. It is worth mentioning that San Yu's three major themes: nudes, potted flowers and animals have all broke their records at Christie's.
「20th Century: Hong Kong Session」
Christie’s continued to bringing vitality with innovative ways of auctions to the traditional sales. 「20th Century: Hong Kong Session」 has started from Hong Kong and then took off by New York. A total 18 masterpieces of Chinese and Western artists were included in this sale, all of which were sold for HKD $404 million, adding a glorious record to the autumn auctions in December.
Top1 Priced Work:
Agent Orange (In The Milky Lake) of Yoshitomo Nara is the highest estimated priced work in this auction, and also received crown of the most expensive sale. This is the first work in auction, and it was started with HKD $38 million by the auctioneer. At the beginning, the bidding process was not particularly fierce, but in the end, it was sold at HKD $65.97 million to the No.8873 client by telephone commission.
Top2 Priced Work:
The second expensive work in this field comes from Dollar Sign of Andy Warhol. This is one of the classic works of the artist. The bold red, gold and black colors give a strong visual impact. The estimated price of this lot was HKD $46-66 million, and it was finally sold at HKD $50.65 million with a commission fee to the No.8845 telephone commission client.
Top3 Priced Work:
The third place belongs to Elevator of Dana Schutz, with an appraisal of HKD $15-20 million. After fierce competition, the final sale has greatly surpassed the estimated price of HKD $50.05 million, which also broke the personal record of the artist.
New Auction Record
Georges Mathieu's Souvenir De La Maison D’autriche (Remembering The House Of Austria) was sold for HKD $17.29 million, Baba Diop of Amoako Boafo's was sold at a price of HKD $8.99 million, and High Waters of Shara Hughes received HKD $4.12 million. All three artists broke their record for the most expensive pieces at auction.
The December auction season is still in full swing. ArtPro will continue to track the global auction information and bring you more market trends, please pay attention.
