2017 Was a Groundbreaking Year
Sotheby’s Hong Kong Contemporary Art sales totalled HK$848 million (US$109 million) – a 6-year high.
Park Seobo, Ecriture No. 38-75, 1975. Sold for HK$13.3 Million (US$1.7 Million), a New Auction Record for the Artist.
Undisputed Kusama Market Leader
The total value of Yayoi Kusama works sold by Sotheby's reached HK$276.2 million (US$35.5 million) in 2017, more than three times our nearest competitor. In Fall, Sotheby’s Hong Kong launched two 1970s works into the top 10, pioneering the market for Kusama’s 1970s period. Sotheby’s holds six out of the top 10 auction records for Kusama.
100% Evening Sale Western Lots Sold, All to Asian Buyers.
Gerhard Richter’s
Abstraktes Bild (679-2)
achieved HK$49 million (US$6.3 million), exceeding its high estimate.
KAWS' Yellow Doorway Smashed the Artist's Record, Realising HK$3.8 MILLION (US$489,000).
Jonas Wood's French Open I Achieved HK$7.3 Million (US$935,000), the 2nd Highest Price for the Artist.
Sotheby's Hong Kong Now Holds 3 Out of the Top 10 World Record Prices for Jonas Wood.
Jonas Wood’s
Two Orchids
achieved HK$3.6 million (US$463,000), a new record for a Jonas Wood painting of this size (87 by 56 cm).
Liang Yuanwei, Untitled, 2013. Sold for HK$2 Million (US$256,032), a New Auction Record for the Artist.
Tanaka Atsuko, 88B, 1988. Sold for HK$12.7 Million (US$1.6 Million), a Tie for the Artist Record Achieved by Sotheby’s Hong Kong in Spring 2017.
Morita Shiryu, So – Wilderness, 1954. Sold for HK$2.7 Million (US$350,764), a New Auction Record for the Artist.
Masanobu Masatoshi, Work, 1961. Sold for HK$1.6 Million (US$208,026), a New Auction Record for the Artist.
Uemae Chiyu, Untitled, 1956. Sold for HK$4.3 Million (US$550,470, a New Auction Record for the Artist.
Morita Shiryu: Bokujin Curated Sale 100% Sold
Morita Shiryu: Bokujin was 100% sold, achieving HK$10.1 million (US$1.3 million), more than double its low estimate. All five curated special sales in the past three years were 100% sold with multiple auction records set.
Sotheby’s Contemporary Art department in Asia completed a dynamic year with ground-breaking results – our best in 6 years. We set 7 artist records in October alone and achieved world class results for Western works, which were 100% sold in our Evening Sale.
We are now accepting consignments for Spring 2018 so please do get in touch for a complimentary evaluation of your collection.
Please click here to view the market update report.