Press Release

Sotheby's First Live Streamed Contemporary Art Evening Sale in Asia Achieves HK$684 million / US$88 million

Hong Kong
- RECORD HIGH IN ASIA FOR A VARIOUS-OWNER CONTEMPORARY ART EVENING SALE -

- FIERCE BIDDING FROM NEW YORK, LONDON AND HONG KONG -

- EXCEPTIONAL 92% SELL THROUGH RATE -

THE POLA MUSEUM OF ART, HAKONE, JAPAN

ACQUIRES GERHARD RICHTER’S ABSTRAKTES BILD (649-2) FOR HK$214,631,000 / US$27,694,000

- HIGHEST PRICE ACHIEVED FOR ANY WESTERN ARTWORK SOLD AT AUCTION IN ASIA -

Gerhard Richter, Abstraktes Bild (649-2)
1987, oil on canvas
200 by 200 cm, 78 ¾ by 78 ¾ in.

STELLAR RESULTS FOR ASIAN MASTERS AND EMERGING TALENTS

- JOHNSON CHANG & CHU FOUNDATION COLLECTIONS ACHIEVE ROBUST RESULTS -
- STRONG INTERNATIONAL BIDDING ON ASIAN EMERGING TALENTS -
- NEW ARTIST RECORDS FOR FIRENZE LAI AND CUI JIE -

2020 has been a year of change and resilience. Debuting the first live streamed auction in New York in June was a defining moment in Sotheby’s history, and tonight we made history again, adopting the pioneering format for the first time in Asia. Tonight’s star lot was Gerhard Richter’s Abstraktes Bilder (649-2), which sold for the highest price ever achieved for any Western artwork sold at auction in Asia. We are thrilled to announce that the outstanding piece has found a new home at the Pola Museum of Art in Hakone, Japan, one of the most prestigious private museums in Asia. We are furthermore extremely delighted to have witnessed intense bidding from our London and New York phone banks for tonight’s Asian highlights across the board, reflecting global interest and commitment in the genre which will drive Asia’s artistic talents to new heights.
Yuki Terase, Head of Contemporary Art, Sotheby’s Asia

On 6 October in Hong Kong, Sotheby’s sale of Contemporary Art realised HK$684,106,000 / US$88,272,000, the highest ever total for a various-owner sale in this category staged at Sotheby’s Asia. Live-streamed to the world from Hong Kong, the sale was 92% sold by lot.

This season, the Contemporary Art Evening Sale adopts Sotheby’s pioneering live-streaming auction format – a first in Asia - with Hong Kong-based auctioneer Ian McGinlay taking bids from specialists on phone banks in real time in New York, Hong Kong and London, creating a truly global auction experience as Hong Kong reaches new heights as a global platform for Asian and Western contemporary art.
The sale was led by Gerhard Richter’s fresh-to-auction Abstraktes Bild (649-2), which attracted a 10-minute bidding war. The winning bid came from the Pola Museum of Art in Hakone, Japan at HK$214,631,000 / US$27,694,000, achieving the highest price for any Western artwork sold at auction in Asia.


EXTRAORDINARY LEADERSHIP WITH TOP TIER WESTERN WORKS

· Gerhard Richter’s Abstraktes Bild (649-2) becomes the highest priced Western artwork sold at auction in Asia. Sotheby’s now holds the top 4 prices, with Richter’s painting followed by KAWS’s THE KAWS ALBUM, David Hockney’s 30 Sunflowers and Andy Warhol’s Mao

· Adrian Ghenie’s Lidless Eye achieves HK$54,920,000 / US$7,086,000, the second highest price ever achieved for the artist at auction

Adrian Ghenie, Lidless Eye
2016-2018, oil on canvas
180.3 by 150 cm. 71 by 59 in.
Sold at HK$54,920,000 / US$7,086,000

· Debuts of major works in Asia by Marlene Dumas and Francis Bacon

Marlene Dumas, Die Baba (2) (The Baby (2))
2005, oil on canvas
130 by 110 cm. 51⅛ by 43⅜ in.
Sold at HK$24,375,000 / US$3,145,000
Francis Bacon, Study for a Portrait
1979, oil on canvas
35.4 by 30.5 cm. 13⅞ by 12 in.
Sold for HK$37,685,000 / US$4,863,000

STELLAR RESULTS FOR ASIAN MASTERS AND EMERGING TALENTS


· Zhang Xiaogang’s The Dark Trilogy: Fear, Meditation, Sorrow leads the offerings from “The First Avant-Garde: Masterworks from the Johnson Chang Collection”, eclipsing its high estimate to realise HK$54,920,000 / US$7,086,000 (est. HK$25-45 million)

Zhang Xiaogang, The Dark Trilogy: Fear, Meditation, Sorrow
1989-1990, oil and collage on canvas, in three panels
Sold at HK$54,920,000 / US$7,086,000

· From the collection of Natalie Chan Chu and Lawrence Chu, Firenze Lai’s The Colleagues sold for HK$3,024,000 / US$390,000 (est. HK$900,000 – 1.2 million), achieving a new auction record for the artist. A portion of the sale proceeds will benefit the Chu Foundation, an independent not-for-profit entity founded by the Chu’s with a mission to empower human potential through art and education


ARTIST AUCTION RECORDS

Firenze Lai, The Colleagues
2017, oil on canvas
130 by 110 cm. 51 ¼ by 43 ⅜ in.
Sold at HK$3,024,000 / US$390,000

Cui Jie, Daughter of the Sea
2016, oil on canvas
100 by 150 cm. 29⅜ by 59 in.
Sold at HK$441,000 / US$57,000


Asia Debut of Sotheby’s Pioneering Livestream Auction Format

Click Here to Watch Playback

Stay informed with Sotheby’s top stories, videos & news.
Receive the best from Sotheby’s delivered to your inbox.

By subscribing you are agreeing to Sotheby’s Privacy Policy. You can unsubscribe from Sotheby’s emails at any time by clicking the “Manage your Subscriptions” link in any of your emails.

More from Sotheby's

Stay informed with Sotheby’s top stories, videos & news.
Receive the best from Sotheby’s delivered to your inbox.

By subscribing you are agreeing to Sotheby’s Privacy Policy. You can unsubscribe from Sotheby’s emails at any time by clicking the “Manage your Subscriptions” link in any of your emails.

Close