$1 Billion of Art and Objects Changed Hands at Sotheby’s Asia in 2018

$65 million Zao Wou-Ki painting leads one of Asia's largest art auctions

Zao Wou-Ki’s monumental and sublime masterpiece Juin-Octobre 1985 realized $65 million at Sotheby’s Hong Kong autumn sales, making headlines around the world. As the market leader for Zao Wou-Ki, Sotheby’s holds half of the artist’s top ten prices, including the artist’s world auction record. The standout result for Zao Wou-Ki doubled the previous record for the artist, simultaneously establishing a new record for any oil painting by an Asian artist. At HK$510 million ($65 million), the price achieved makes Juin-Octobre 1985 the most valuable painting ever sold at auction in Hong Kong.

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XUZHEN SUPERMARKET became the first concept auctioned as art in Asia

Offered this September in Hong Kong's Contemporary Art Evening Sale, XUZHEN SUPERMARKET (sold for HK$2 million) is a conceptual artwork conceived by XU ZHEN®. An enactment of the conceptual artwork features a replica of a Chinese convenience store including bona fide cash registers and a diverse assortment of merchandise. The artwork invites viewers to browse among merchandise from the stocked shelves filled with a range of familiar consumer goods. Upon closer inspection, it soon becomes apparent that each item of merchandise is devoid of content, consisting only of their packaging. By inviting viewers to invest in empty shells, which are bereft of substance or use value, XUZHEN SUPERMARKET offers a wry critique on consumerism, advertising and global capitalism.

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Sotheby’s leads the Chinese works of art market in Asia for the 9th consecutive year

2018 was a triumphant year for Chinese Works of Art at Sotheby’s. With an annual total of HK$2.07 billion ($264 million), Sotheby’s continued to lead the Asian market for its ninth year in a row. The result once again reaffirms Sotheby’s dominance in the field, a result of our expertise and true passion for Chinese art. As we move into 2019, we look forward to building on this momentum and bring our clients the world’s greatest works of art.

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Western Modern and Contemporary masters in Hong Kong

In 2018 Sotheby’s launched Panorama: A New Perspective, a selling exhibition of paintings and sculpture highlighting some of the most original and influential artists of the 19th and 20th centuries. Featuring seminal works spanning over 150 years, this exhibition traces the aesthetic development of Modern Art throughout Europe to the United States, and towards the Contemporary abstract art which remains informed by its predecessors. On the other hand, the sale of Modern and Contemporary Western Art was impressive in 2018, reaching a total of more than $33 million and signaling a big leap forward for the appreciation of the category in Asia.

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A Patek Philippe pink gold reference 2499 is now the most valuable wristwatch sold at auction in Asia

The records for the most valuable wristwatch sold at auction in Asia and for an automatic Rolex Daytona, demonstrated that buyers are willing to pursue the hottest and most hard-to-find watches available. Whether in London, Geneva, New York or Hong Kong, from sourcing to selling, this is a truly fluid and international market.

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Sotheby’s leads the Asian wine auction market

The Asian wine market is the strongest and most exciting in the world with the greatest appetite for the very best wines and spirits. Sotheby’s are indebted to our knowledgeable and wine-loving audience in Asia, whose deep appreciation for Bordeaux and Burgundy, not to mention whiskey, has helped place Sotheby’s in a leading market position in the region. In the meantime, with a strong year-to-year growth rate of over 30%, Sotheby’s Wine Retail in Asia is set for the best year of sales since its launch in the region in 2014.

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A rediscovered Imperial handscroll achieves HK$147 Million （$18,704,491）

Making its auction debut after a hundred years, a highly important rediscovered handscroll, Ten Auspicious Landscapes of Taishan , the greatest masterpiece of the renowned Imperial court painter Qian Weicheng drew over 100 separate bids during a 40 minute bidding battle, pushing the final sale price to HK$146,794,000 ($18,704,491). Presented in ten sections, the scroll depicts ten spectacular views of Mount Tiantai in Zhejiang province and is also inscribed with ten poems written by the Qianlong Emperor.

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Love conquers all: The Ai ‘愛’ Diamond fetched HK$108.4 Million（$13,800,000）

The Ai (‘愛’) diamond, a rare and important 5-carat fancy vivid blue diamond and diamond ring fetched HK$108.4 Million ($13.8 Million) at the Magnificent Jewels and Jadeite Autumn Sale in Hong Kong. The Ai ‘愛’ Diamond, named after the greatest power of all, love, is a celestial treasure marrying the capabilities of nature and mankind to full display. With a shining internal clarity resonant of nature’s purity, reaching its utmost potential through the hands of a skillful cutter; the beauty that is the Ai ‘愛’ Diamond cannot be compromised nor compared.

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Spectacular Mountains in Spring Snow; Calligraphy by Zhang Daqian fetched HK$83 million（$10,600,000）

The top lot in the category of Modern Chinese Painting was a fresh-to-the-market splashed ink and colour painting and calligraphy pair by by Zhang Daqian, Spectacular Mountains in Spring Snow; Calligraphy . This work was a gift from the artist to his dear friend Zhang Muhan in celebration of his 68th birthday. Of substantial size and exceptional provenance, the work fetched HK$83 million in spring, doubling its pre-sale estimate.

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Liu Wei’s Revolutionary Family Series: Travel Time (Diptych) achieved HK$36million（$35,600,000）

The top lot of Chinese Contemporary Art this year was Liu Wei’s Revolutionary Family Series: Travel Time (Diptych) . This magnificent chef-d’oeuvre, featuring Liu Wei’s father and mother astride two stallions, was inspired by a historical photo of Premier Zhou Enlai, the first premier of the People’s Republic of China.

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Old Master Q returned to Sotheby’s

The nostalgic muse to Chinese people worldwide returned to Sotheby's this summer with an online-only auction presenting the earliest comic cover artwork in existence, “ Old Master Q – Rock'n Roll ” (sold for HK$650,000). This work by Alphonso Wong was published in 1964 as the cover for the second issue of Old Master Q.

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