We are very pleased to have achieved remarkable results approaching pre-sale high estimates in a market which has sustained phenomenal growth over the past decade. Two themes have emerged. First, historically important works continue to hold enormous appeal for collectors, as evidenced by the extraordinary bidding war for Fang Lijun’s Series 2 No. 4 from the collection of Guy and Myriam Ullens de Schooten, which nearly doubled its high estimate and achieved an auction record for the artist. Second, there remains an enormous hunger in the market for works by younger generations. Bidding was international throughout our sales and records were set for six contemporary Chinese artists.
This sale unites rare works by significant Chinese, Japanese and Korean artists, presenting works such as Xu Bing’s interactive installation Bird Language, never before seen on the market and also works by Korean master Kim Whanki. In addition this auction also continues to focus on and promote the works of younger artists, injecting exciting new elements to collecting.