Bonhams Contemporary Art Department inaugural Hong Kong 2012 auction all lots sold

HONG KONG CONTEMPORARY ART AUCTION

Bonhams Contemporary Art Department held its first auction, Voyages of Discovery, in Hong Kong on Sunday 27 May 2012. All works in the single-owner collection sale, including fifteen paintings by Chinese modern masters Zao Wou-Ki and Chu Teh-Chun, and twelve rare Imperial Chinese artefacts, sold above their estimates.

Chu Teh-Chun, 'L'Odeur du Ciel No. 1', 1982, oil on canvas. Sold for HKD9.6 million (USD1,236,534) including buyer's premium at the auction "Voyages of Discovery. In Conversation: Fifteen Works by Chu Teh-Chun and Zao Wou-Ki from a Private Portuguese Collection".

From the press release,

Sunday 27 May 2012, Hong Kong – In a standing room only sale, frenzied bidding activity occurred within the auction room, by telephone and online. Bonhams Contemporary Art Department’s first dedicated sale in Hong Kong reached the superb total today of HKD90.6 million /USD 11.6 million, more than doubling the pre-sale estimate of HKD26.5 to 37.4 million/ USD3.4 to 4.8 million.



The paintings and works on paper by Zao Wou-Ki and Chu Teh-Chun sold as part of the collection came to a total of HKD63.4 million/ USD8.17 million. They portray a cross-section of the artists’ development through the decades, and illustrate the evolution of their unique styles from the 1960s through to 2006. Born in China and based in Paris for the past five decades, both artists present an important bridge between the traditional calligraphy and painting aesthetics of China and the most innovative art movements of twentieth century Europe. Important works from both artists smashed their high estimates, including Zao Wou-Ki’s ‘La Mer’, 2004, which sold for HKD8.18 million/ over USD1 million, Chu Teh-Chun’s ‘Verte Nature’, 2005-6, which sold for HKD7.2 million/ USD927,416 and Chu Teh-Chun’s ‘Formes Illuminees’, 2006, which sold for HKD5.3 million/ USD682,680.


Closing the sale was Chu Teh-Chun’s ‘Les Feux du Jour Finissant’, 2006, which sold for HKD7.82 million/ USD1 million, further sealing this inaugural sale for Bonhams Contemporary in Asia as a great success.


Commenting on the collection and the excellent results achieved, Anthony McNerney, International Head of the International Bonhams Contemporary Art Department, said, ‘We are thrilled by the exceptional performance of the inaugural sale in Asia of our International Contemporary Art Department. We toured these works around the globe before this sale and we had outstanding interest from an international group of collectors, which came to fruition in a fantastic sale. It was a delight to work with such an exquisite and discerning European collection. We look forward to making the new Contemporary Art Department a success around the world.’

PR/KN/HH

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Related Topics: art market watch – auctionsart in Hong Kong, Asia expands

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