SOTHEBY’S AUTUMN 2018 HONG KONG SALES TOTAL HK$3.64 BILLION / US$466.1 MILLION 15% Increase Year-Over-Year
Total Sales Nearing US$1 Billion in Asia — 2018 3,199 Lots Sold, At Least 17 Records Set, 20 Auctions Held in Just Five Days More than 36,000 Visitors Attend Pre-Sale Exhibition with Millions Engaging Online
HONG KONG, 3 October 2018 Sotheby's (NYSE: BID) Autumn 2018 Hong Kong auction series concluded with a grand total of HK$3.64 billion / US$466.1 million, against a pre-sale low estimate of HK$3.1 billion / US$401 million*, representing a 15% increase compared to the same series in October 2017 and flat to those last April. The series of 20 auctions was led by a monumental modern masterpiece by Zao Wou-Ki, which sold for a record HK$510 million / US$65 million.
“With annual sales nearing US$1 billion, Sotheby’s Asia is on track to have one of its best years ever,” commented Kevin Ching, CEO of Sotheby’s Asia. “Season after season, we are attracting new collectors and growing the market – the result of innovative sale concepts and investment in technology.”
“For the past 45 years, Sotheby’s has been at the forefront of the market in Asia and these sales are further evidence of our role in driving today’s trends,” said Patti Wong, Chairman of Sotheby’s Asia. “The thoughtful curation of exciting opportunities we brought together continued to anticipate the tastes of today’s collectors and cement Hong Kong’s position as an international destination for both Asian and Western Art.” ￼￼￼ ￼
HIGHLIGHTS SPAN CENTURIES AND CATEGORIES
MODERN AND CONTEMPORARY ART EVENING SALE TOTALS HK$1.56 BILLION / US$200 MILLION
The highest total for an evening sale in Hong Kong with nine artist records set
100% sell-through rate for Western artists with the highest total for an offering of works sold at auction in Asia
Zao Wou-Ki’s Juin-Octobre 1985 sells for HK$510 million / US$65 million, setting three auction records: world
auction record for Zao Wou-Ki, world auction record for an oil painting by an Asian artist, and the most valuable painting sold by any auction house in Hong Kong. Sotheby’s now holds five of the top 10 prices for the artist at auction.
Chinese Contemporary Art continues to strengthen: the combined total doubled the pre-sale estimate. XUZHEN SUPERMARKET, Asia’s first pure conceptual art offered at auction, realises HK$2 million / US$255,680
SALES OF CHINESE WORKS OF ART TOTAL HK$854.3 MILLION / US$109 MILLION
Two Qianlong porcelain masterpieces sold in the range of US$20 million each: the Yamanaka Reticulated Vase achieves HK$149 million / US$19 million and the Falangcai Poppy Bowl sells for HK$169 million / US$21.6 million
THE THREE DAY SALES OF MODERN ASIAN ART, CONTEMPORARY ART AND SOUTHEAST ASIAN ART TOTAL HK$254.8 MILLION / US$32.6 MILLION
Contemporary Art Day Sale 100% sold
Five artist records achieved in Modern Asian Art Day Sale
100% sell-through rate for Vietnamese art
WINE SALES TOTAL HK$113 MILLION / US$14.5 MILLION
Sotheby’s leads the wine auction market in Asia
Year-to-date total reaches HK$407 million / US$52 million
IMPORTANT WATCHES TOTALS HK$160 MILLION / US$20.4 MILLION
The most valuable wristwatch sold at auction in Asia: Patek Philippe Pink Gold Ref 2499 Perpetual Calendar Chronograph Wristwatch with Moon Phases achieves HK$23.5 million / US$3 million
CLASSICAL AND MODERN CHINESE PAINTINGS SALES ACHIEVE HK$373.2 MILLION / US$47.6 MILLION
Zhang Daqian’s Self Portrait with a Tibetan Mastiff sells for HK$49.7 million / US$6.3 million
Zhu Da’s Pine Tree and Rock achieves HK$13.3 million / US$1.7 million
BLUE DIAMONDS LEAD SALE OF MAGNIFICENT JEWELS & JADEITE SALE
A 5-carat Fancy Vivid Blue Diamond and Diamond Ring, and a 3.47-carat Fancy Intense Blue Diamond Ring sell for HK$108.4 million / US$13.8 million and HK$24.1 million / US$3.1 million respectively
SELLING EXHIBITIONS OF MODERN & CONTEMPORARY ART AND OLD MASTER PAINTINGS & DRAWINGS
A Brush with Nature: the most extensive selling exhibition in Hong Kong dedicated entirely to Western Old Master paintings and works on paper
Panorama: A New Perspective: second edition of a selling exhibition of Western masterworks by the titans of Impressionist, Modern and Contemporary Art
Works by Pierre-Auguste Renoir, Yayoi Kusama, KAWS and a range of Old Masters artists sold to established and new Asian buyers
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