Philips will host a sale of modern and contemporary art in Hong Kong on Tuesday night with a total hammer of HK $ 370.4 million ($ 47.5 million) and a premium of HK $ 454.6 million ($ 58.2 million). bottom. Performed in collaboration with China’s auction house Poly, it far exceeded the pre-sale minimum estimate of HK $ 294.6 million ($ 37.8 million) calculated without buyers’ premiums.
At this sale, 50 of the 52 works were put up for sale, and 6 lots were withdrawn before the sale started. The result is comparable to the first Philips Polyevening Sale that earned $ 50 million in December 2020 with 29 lots of smaller cash. Five of the lots offered on sale were guaranteed, including those by Auguste Rodin and David Hockney. Together, the lot is a low estimate of HK $ 42.9 million ($ 5.5 million) in total, accounting for 15 percent of the total low estimate of sales.
Philips executives say the collaboration with Beijing-based partner Poly is a move to reach more buyers in mainland China. Sales results for the Phillips-Poly series show a rise in the pan-Asian market as a major purchasing region, almost intact in the pandemic recession. “It was clear that Asia’s importance to the global art market has grown exponentially,” Philips Asia Chairman Jonathan Crockett said in a statement.
At the sale on Tuesday, works by Yoshitomo Nara, Yayoi Kusama, and Matthew Wong will be on display, all of which have become a staple of the Marquee Asia Auction. However, the sale also brings records for seven artists, Javier Calleja, Scott Caan, Izumi Kato, Robert Nava, Billie Zangewa, Godwin Champ Naminba, and Susumu Kamijo, who are strong against emerging artists. Shows demand.
The top lot of the sale was Gerhard Richter’s vibrant abstract canvas Kerzenschein (candlelight) Two bidders, represented by a Beijing client over the phone with Philips Senior International Specialist in 20th Century and Contemporary Art, Scott Nusbaum, and Philips Regional Director in Wengeiachan, China, participated in the work. It was hit at HK $ 86 million ($ 11 million) and paid to Wenja’s clients at a final price of HK $ 102 million (premium $ 13 million).
Next was Yayoi Kusama’s pink and white patterned canvas. Infinity Net (OPRT) Since 2004. This work attracted two bidders from Hong Kong. Hammer was in the range of an estimated HK $ 18.5 million ($ 2.4 million, final price $ 2.9 million).
Also, among the top sellers was Matthew Won, the beloved of the late market. Far away eyes (2017). After a nearly 10-minute bid war between clients over the phone with Hong Kong and Beijing-based specialists, the orange landscape scene reached HK $ 17.3 million ($ 2.2 million), estimated at HK $ 8 million ($ 1 million). ) Is doubled. I called Isaurede Viel Castel, head of Philips Contemporary Art in Hong Kong, and the final price was $ 2.7 million. This painting may have been better than expected, but well below the $ 4.8 million artist auction record set in Philips Hong Kong in 2020.
Emerging artists have attracted the attention of international bidders. Opening lot of sale, South African painter Cinga Samson’s Ivory V (2018), withdrawn bids from London, Beijing, Hong Kong, and online. Eventually it sold for HK $ 2.5 million ($ 323,000). This is 10 times the minimum estimate of $ 32,000.Salman Tols East Village Baqubah (2018) Sold for HK $ 4,5 million ($ 582,000) after a lengthy bidding battle between clients Beijing, Hong Kong, and online. The sale precedes Toor’s first museum show in China in 2022 at M Woods in Beijing.