New records in Asia for 20th century and contemporary artists: Phillips Hong Kong November 2017 – auction round-up

Phillips’ Hong Kong Fall Auctions achieved strong results, with new records for multiple artists.  

On 26 November 2017, Phillips’ Evening Sale of 20th Century and Contemporary Art and Design in Hong Kong realised USD41 million or HKUSD119,840,000. 

Jean-Michel Basquiat, Hong Kong, 1985. Image courtesy Phillips.

Jean-Michel Basquiat, ‘Hong Kong’, 1985. Image courtesy Phillips.

Setting new auction records for a number of artists, last Saturday’s evening sale at Phillips in Hong Kong saw activity from all over the world, with bidders from 34 countries, and sales at 90% percent by lot and 72 percent by value. The evening sale saw records set for George Condo, Henry Moore, Wolfgang Tillmans and Georg Baselitz at auction in Asia.

Jonathan Crockett, Head of 20th Century and Contemporary Art & Deputy Chairman for Phillips Asia, said:

The strong results of tonight’s sale demonstrate the success of our pioneering and innovative strategy of offering the very best works by international artists at auction in Asia, with 80% of the top ten lots selling to Asian buyers.

Lee Ufan, From Point No. 780126, 1978. Image courtesy Phillips.

Lee Ufan, ‘From Point No. 780126’, 1978. Image courtesy Phillips.

A sale highlight was George Condo’s Girl with a Blue Dress, which set a new auction record in Asia. The work was bought by a private Asian collector for HKUSD12,100,000. Another important first for the auction, the sale marked the first time that a digital work by the artist collective teamLab was offered at auction. 

Online bidding was extremely active throughout the auction with 15 percent of the lots going to mobile and online bidders, showcasing the strength of Phillips‘ market-leading digital platform.

George Condo, Young Girl with Blue Dress, 2007. Image courtesy Phillips.

George Condo, ‘Young Girl with Blue Dress’, 2007. Image courtesy Phillips.

Crockett also commented on the breadth of the market that the auction showed, with artists including emerging Shara Hughes, Roy Lichtenstein, the forefather of Pop Art, as well as works by Léonard-Tsuguharu Foujita, significantly exceeding their estimates.

Yayoi Kusama, Infinity Nets 1961 (Q.A), c. 1979. Image courtesy Phillips.

Yayoi Kusama, ‘Infinity Nets 1961 (Q.A)’, c. 1979. Image courtesy Phillips.

Jonas Wood, Group Portrait, 2004. Image courtesy Phillips.

Jonas Wood, ‘Group Portrait’, 2004. Image courtesy Phillips.

Outstanding results were also achieved for works of design, with the majority of lots soaring above their high estimates, including a pair of armchairs by Finn Juhl, which established a world auction record for the model no. FJ45.

Anna Jamieson

1978

Related Topics: business of artauctionsAsian artround-upsevents in Hong Kong

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