HONG KONG CONTEMPORARY ASIAN ART AUCTIONS
After Sotheby’s record-breaking Autumn 2010 sales, the art and business worlds have been waiting to see what Spring 2011 would bring for the auction house. Were records for contemporary Asian art set again? We bring you top lot lists and our tweets from the day.
There were two Asian art sales that included contemporary pieces: Contemporary Asian Art (4 April, 5:30pm), which included Chinese, Korean and Japanese art; and Modern & Contemporary Southeast Asian Paintings (4 April, 10:00am), which included work by Filipino, Indonesian, Vietnamese and Singaporean artists.
Contemporary Southeast Asian Paintings
Tripling the sale estimate of HKD36 million/USD4.6 million, the Modern & Contemporary Southeast Asian Paintings sale fetched a total of HKD108 million/USD13.8 million, according to a Sotheby’s press release. Filipino artist Ronald Ventura was the star of the auction, with his work Grayground selling for HK$8.4 million/USD1.1 million after a “bidding war.” Other record-setting artists included Hendra Gunawan, Barrioquinto, Samsul Arifin, Nguyen Gia Tri and Indieguerillas.
“Bidding opened at HKD300,000 and after around fifty furious bids, [Ronald Ventura’s] Grayground eventually sold at an astonishing price at HKD8.4 million / USD1.1 million, which is over 24 times its high estimate to a phone bidder,” says Artdaily.org of the auction.
Of the 149 lots on offer 21 remained unsold at the close of the sale. The two contemporary artworks that made it into the top ten lots list announced by Sotheby’s are:[table “” not found /]
“Hong Kong has proved to be a winning location for Sotheby’s Southeast Asian art department since it moved its auctions to the harbor city in Spring 2008 after twelve years in Singapore, with many collectors choosing to fly in for the sales,” says ARTINFO of Hong Kong sales of Southeast Asian art.
Contemporary Asian Art
According the 4 April, 2011 press release from Sotheby’s, the Contemporary Asian Art sale achieved HKD182,911,500/USD23,450,192 and set a record for a work from Zhang Xiaogang’s “Bloodline” series and also set a record for Li Songsong.
Of the 133 lots on offer 18 remained unsold at the close of the sale. We list the top ten lots below as announced by Sotheby’s:[table “” not found /]
The Clean Air Charity Auction, a joint venture between Sotheby’s and Hong Kong’s Clean Air Network, was also held during the 2011 Spring sale period. It bought in a sale total of HKD2,228,000, according to the Sotheby’s website.
- Enviro art Clean Air Auction backed by Sotheby’s Hong Kong – event alert – March 2011 – click through for more on this charity auction event
- First Malaysian art auction nearly sells out – Art Radar interviews Henry Butcher president – December 2010 – an interview with the auction house president
- Mid auction season Hong Kong art market update: Sotheby’s sale round-up – November 2010 – refresh yourself with what happened in Autumn 2010
- Artnet chooses Hong Kong as debut venue for new venture – Art Radar scoop interview – October 2010 – price database turns art dealer
- Sotheby’s Hong Kong presents results of autumn sale of Southeast Asian paintings – October 2010 – more on Autumn 2010 sales, this time Southeast Asian art
Subscribe to Art Radar for more on Asian contemporary art auction coverage