Southeast Asian Art Evening Sale
Southeast Asian Art evening auction kicked off the event with a sale marked by a highly impressive performance, driven by strong demand for seminal works by blue chip artists.
Indonesian Village Life by Sudjana Kerton soared far above the high projection of HK$2.8 million and after the hammer finally fell, the painting achieved a sale price of more than HK$8 million (US$1 million), approaching the existing world record for the Indonesian master and marking the second highest price for the artist achieved at auction.
Other standouts of the evening include works by Mai Trung Thu and Pham Hau, a powerhouse for Vietnamese art. Mai Trung Thu’s Ceremonie du The (The Tea Ceremony) sold at a price of HK$4 million (US$ 520,000), more than doubling its original projected estimate. Pham Hau’s Deer and Stags in the Forest also had impressive results, also at a sale price of HK$4 million (US$ 520,000) compared with a predicted HK$3 million high.
Modern Art Evening Sale
Over the course of 26 lots, the Modern Art Evening Auction far outpaced expectations – as many works far exceeding their pre-sale estimates, and a new world record set of the artist Li Huayi.
Leading the marquee evening sale were two legendary masterworks by Wu Guangzhong together achieving a total that approached HK$200 million. Scenery of Northern China, the artist’s largest oil painting created before China’s era of Reform and Opening-up as well as a work that had been of great significance to the artist himself, fetched a stunning price of about HK$151.4 million (US$19.5 million) while Scenery of Guilin soared above its pre-sale high estimate to earn HK$43.4 million (US$5.6 million).
In a thrilling bidding battle for Sanyu’s Fleurs dans un pot bleu et blanc, the painting was sold at more than twice its upper projected estimate of HK$70 milllion, as the sale price ascended to a lofty HK$187 million (US$24.1 million). Nu, the masterwork and centerpiece of Sanyu’s final solo exhibition, achieved HK$168.7 million (US$ 21.million).
An artist auction record was set for Li Huayi when Lying on Snow achieved a price of HK$8 million (US$1 million).
The finale of the evening was a stand-alone, single lot auction of the Maiko Star, an important 102.39 carat Flawless Oval Diamond, which sold for HK$121.6 million (US$15.7 million). One of the earth’s rarest and most coveted diamonds, the D-color flawless marvel of nature was offered without reserve, the first world-class diamond ever to have done so. It attracted the most bidders ever seen for a diamond of this caliber and represents the highest value bid ever placed on a jewel online.
More Hong Kong Auctions
It was a historical moment tonight on 5 October for Sotheby's Hong Kong, as Ian McGinlay took to the rostrum to preside over three major evening sales in a multi-camera event live-streamed around the world. The auctions were a smashing success for the Autumn Auctions series as well as for Sotheby's pioneering live-stream format.