The five day autumn sales series at Sotheby’s in Hong Kong achieved US$285 million and exceeded the high estimate. The series brought major sales at Sotheby’s in Asia so far this year to US$690 million. The top lot of the series was a Qing dynasty Imperial Khotan green jade seal, which made US$11.7 million. Significantly the series attracted a new generation of bidders. Over 40% were under the age of 40. There were participants from 28 countries. All top lots in the sale of Fine Chinese Paintings found buyers. and top quality modern works performed with strength.
This was the highest value offering of Western Contemporary Art ever held in a major Hong Kong auction and there was an auction record for a work on paper by Keith Haring. Jean Michel Basquiat’s Infantry sold for US$5.98 million.
Kevin Ching, CEO, Sotheby’s Asia, said: “I am pleased that the total for major sales at Sotheby’s Hong Kong in 2016 matched that of 2015, demonstrating Asia’s resistance to uncertainty in some segments of the market. Collectors were selective, but demand for the most desirable pieces remained robust, leading to outstanding prices.”
(See post on antiquesandartireland.com for September 6, 2016)