Sotheby's Hong Kong Sales fetch over $51 million
Modern and Contemporary Southeast Asian Paintings 2010 Autumn Sale totals HK $78million
黑料不打烊
Oct 04, 2010
Hong Kong, 4 October 2010 Following the tremendous success of the Spring sale, Sotheby鈥檚 Autumn sale of聽Modern and Contemporary Southeast Asian Paintings today commanded a stunning total of HK$78 million /聽US$10 million (high estimate: HK$45 million / US$5.7 million*), the highest sale total for a various-owner sale in this聽category at Sotheby鈥檚 Hong Kong. Today鈥檚 sale provoked active participation in the room and over the phone.
There was particularly strong interest in top-end Southeast Asian contemporary paintings, which led to numerous聽auction records set for various artists including S. Sudjojono, Father of Indonesian Modernism, and Filipino artist聽Ronald Ventura.
There was particularly strong interest in top-end Southeast Asian contemporary paintings, which led to numerous聽auction records set for various artists including S. Sudjojono, Father of Indonesian Modernism, and Filipino artist聽Ronald Ventura.
S. Sudjojono鈥檚 A New Dawn sold for HK$10.7 million / US$1.4 million (high聽estimate: HK$2.5 million / US$322,000*) to a phone bidder after a few聽minutes of intense competition. Ronald Ventura鈥檚 contemporary work 鈥撀�Natural-Lies - spurred over 30 furious bids from not less than 5 bidders and聽eventually fetched HK$2.5 million / US$326,000, over nine times its high聽estimate (HK$280,000 / US$36,100*). The majority of the works in today鈥檚聽sale fetched multiple times their pre-sale estimates.
MOK Kim Chuan, Sotheby鈥檚 Head of Southeast Asian Paintings, commented: 鈥淭op end Contemporary works聽fetched strong prices today with many pieces bringing multiples of their pre-sale high estimates. Among Modern聽works, the supreme highlight was the S. Sudjojono, a museum-quality example of the artist鈥檚 work which spurred a聽fierce bidding battle among nine bidders before selling for HK$10.7 million, a price which was four times the top聽estimate and set a record for the artist at auction. These results confirm the strategy of using conservative estimates聽to attract competition and let the market set the price level.鈥�
The initial success continued for the auction house, with the succeeding sale of 20th Century Chinese art totaling HK $137,000,000 / US $17,600,000, nearly double its predecesor.
Wu Guanzhong faired well, finishing among the top sellers with his A Mountain Village in the North, realizing HK $12.4m ($1.6m). 聽Oddly enough, the first place became a three-way tie, split between Liao Chi-Chun, Sanyu, and Zao Wou-ki, whose top lots all fetched HK $14.1m ($1.8m).
But Sotheby's saved the best for last, with the Contemporary Asian Art sale garnering an astonishing HK $209,000,000 / US $27,000,000.聽
Liu Ye, Cai Guo-Qiang, and Zeng Fanzhi all realized strong winning bids- HK $10.7m, $11.8m, and $16.9m, respectively ($1.3m, $1.5m, $2.2m)- but the ultimate show stealer was Zhang Xiaogang. 聽His 1992 oil and collage work, Chapter of a New Century- Birth of the People's Republic of China II, realized HK $52,000,000 ($6.7m), nearly doubling its presale estimate.
MOK Kim Chuan, Sotheby鈥檚 Head of Southeast Asian Paintings, commented: 鈥淭op end Contemporary works聽fetched strong prices today with many pieces bringing multiples of their pre-sale high estimates. Among Modern聽works, the supreme highlight was the S. Sudjojono, a museum-quality example of the artist鈥檚 work which spurred a聽fierce bidding battle among nine bidders before selling for HK$10.7 million, a price which was four times the top聽estimate and set a record for the artist at auction. These results confirm the strategy of using conservative estimates聽to attract competition and let the market set the price level.鈥�
The initial success continued for the auction house, with the succeeding sale of 20th Century Chinese art totaling HK $137,000,000 / US $17,600,000, nearly double its predecesor.
Wu Guanzhong faired well, finishing among the top sellers with his A Mountain Village in the North, realizing HK $12.4m ($1.6m). 聽Oddly enough, the first place became a three-way tie, split between Liao Chi-Chun, Sanyu, and Zao Wou-ki, whose top lots all fetched HK $14.1m ($1.8m).
But Sotheby's saved the best for last, with the Contemporary Asian Art sale garnering an astonishing HK $209,000,000 / US $27,000,000.聽
Liu Ye, Cai Guo-Qiang, and Zeng Fanzhi all realized strong winning bids- HK $10.7m, $11.8m, and $16.9m, respectively ($1.3m, $1.5m, $2.2m)- but the ultimate show stealer was Zhang Xiaogang. 聽His 1992 oil and collage work, Chapter of a New Century- Birth of the People's Republic of China II, realized HK $52,000,000 ($6.7m), nearly doubling its presale estimate.
