On March 29, 2026, Phillips Hong Kong successfully concluded its two-session auction of Modern and Contemporary Art.The Modern and Contemporary Art Evening Sale and Selected Works Sale achieved a total of HK$88,536,420.This impressive performance demonstrates the robust vitality of the Asian art market and the confidence of collectors.

in,The evening auction was particularly successful, with total sales exceeding the pre-sale high estimate by 30%, and it also successfully set a world auction record for Liu Dan, a contemporary Chinese ink painting master.This will be the core highlight of this season's auction.

This matchThe evening auction achieved excellent results thanks to its precise selection of lots and innovative bidding model: total sales reached HK$49,482,600, with a 98% sell-through rate.The project achieved a 93% transaction rate, demonstrating extremely high market acceptance.60% of the items received pre-bid participation from buyers.This mechanism effectively locks in collectors' needs in advance, reduces the risk of auction failures, and serves as one of the guarantees for successful transactions. It also confirms the significant effectiveness of Phillips since the mechanism was launched in 2025. Its "pre-bid" allows buyers who participate in advance to enjoy a commission discount of up to 4%, effectively stimulating collectors' enthusiasm for participation.

This auction was full of highlights and achieved fruitful results, with many core lots exceeding expectations and setting numerous auction records, becoming the focus of market attention.

During the auction presided over by auctioneer Su Wanting, the gavel was successfully brought down.Liu Dan's "Mini Dictionary," created in 2011, not only became the leading lot of the evening auction but also broke Liu Dan's personal world auction record.This powerfully demonstrates the profound heritage and international market recognition of contemporary Chinese ink painting, making it the most significant breakthrough of this season's auction.

Apart from Liu Dan,The works of many Chinese and foreign art masters also delivered outstanding results.Adam Pendleton, a key pioneer of contemporary art, achieved his second-highest auction price, further solidifying his central position in the international contemporary art scene. A rare painting by Impressionist master Pierre-Auguste Renoir, with excellent provenance, sold for more than double its pre-sale low estimate, continuing the market enthusiasm for Impressionist art and demonstrating the potential for value preservation and appreciation in classic art.

Selected Auction Total Sales: HK$39,053,820 (Amount Selling Rate: 88% | Item Selling Rate: 82%)The special auction was led by international contemporary masters such as Yayoi Kusama, Yoshitomo Nara, and Zeng Fanzhi. Among them, Yoshitomo Nara's casual graffiti in the East Village bar in New York and Chen Yifei's water town series "Twilight (Suzhou)" both sold for nearly or almost double their pre-sale high estimates.

Of particular note is a collection of Sanyu's ink-on-paper works from the collection of the Michel Abbott family in France.Its rare origins and orderly lineage complement Sanyu's oil paintings, enriching collectors' understanding of his artistic lineage and highlighting its stable value as a "hard currency" of Asian art.

The impressive results of the two auctions are inseparable from the strong support of the market and Phillips' professional planning.

Phillips Hong Kong Modern and Contemporary Art Auction Director, Su Wanting, stated"Phillips Hong Kong Modern and Contemporary Art Evening Sale delivered outstanding results, with total sales exceeding pre-sale high estimates by 30%. Of particular note was the fact that 60% of the lots sold for more than their pre-sale high estimates, demonstrating strong demand and widespread resonance from the market for our carefully selected works that span generations and regions. These achievements collectively testify to collectors' active participation and passionate engagement in the ongoing narrative of art history."

Hu Di, Head of Auction for Modern and Contemporary Art at Phillips Hong Kong, said"In today's two auctions, 80% of the buyers were from Asia, fully demonstrating the continued vitality and resilience of the region's art market. The selected auction results further confirm the strong demand for Asian modern art, with many works achieving outstanding results, especially a group of Sanyu's ink and wash paintings on paper from the collection of Doris Abbey and Gilles Abbey of the Michel Abbey family in France."

The successful conclusion of these two auctions not only showcased Phillips' professional selection and operational capabilities in the field of modern and contemporary art through numerous auction highlights and excellent sales figures, but also reflected the resilience and development potential of the Asian art market. The continued effectiveness of the "pre-bid" mechanism, the groundbreaking performance of works by Chinese and international masters, and the strong demand from Asian collectors collectively contributed to the auctions' success and provide a valuable practical model for the global art auction market.

Special Auction Highlights

Phillips Modern and Contemporary Art Evening Sale, March 29, 2026, 16:00.The 15 lots achieved a total sales amount of HK$49,482,600, with an overall sell-through rate of 93%. One item sold for tens of millions of yuan.Liu Dan's "Mini Dictionary" sold for HK$11.505 million, which was also the highest-selling item in the auction.
 

New record:
Several artists, including Liu Dan and Robin F. Williams, broke their personal records.
Adam Pendleton, Julia Joe, and several other artists set new records for the second-highest prices ever paid for an artist's work;
 

Top-selling item in this session:

Liu Dan's "Mini Dictionary" was hammered down at HK$9 million, and sold for HK$11.505 million including commission.

Top 2 in sales this session:

Zhang Xiaogang's "Bloodline Series - Father and Daughter" sold for HK$5.2 million at hammer price, totaling HK$6.708 million including commission.

Provenance: Farber Private Collection (purchased directly from the artist), London.

At Phillips London, October 13, 2007, Lot 507 sold for £804,000 (approximately RMB 12,327,900). Private collection, Hong Kong.

Phillips Hong Kong, October 6, 2023, Lot 9, sold for HK$5,715,000. The current owner acquired the item from the aforementioned auction.

Top 3 transactions in this session:

Yayoi Kusama's "Sunset in My Heart" sold for HK$5 million at hammer price, totaling HK$6.45 million including commission.

Painted in Japan in 2020, this work comes with the artist's studio registration card. Provenance: Hidenori Gallery, Ota, Tokyo. Acquired by the current owner from the above provenance.

Several artists broke auction records

Other items sold at auction:

In addition to the top three most expensive lots, the sale also includes masterpieces by numerous artists, including Adam Pendleton, Tracey Emin, Pierre-Auguste Renoir, Nicolas Patti, Medici-Gardienlou, Ding Yi, and Miriam Kahn.

At 5:00 PM on March 29, 2026, Phillips' "Modern and Contemporary Art" auction was held in Hong Kong as scheduled.This auction featured 107 lots, achieving a total sales amount of HK$39,053,820. A total of 7 items sold for over a million dollars each.Yayoi Kusama's "River" sold for HK$2,193,000, becoming the top-selling item at the auction.

New record:
Several artists, including Lin Tianxing, Aso Saburo, and Wakita Kazu, broke their personal records.
Several artists, including Arabacchus and Torikai Aoko, have set new records for the second-highest prices ever paid by an artist.
Alexis La Levao, Ye Youhuo, Elsa Khalid, Jia Yirui, and other artists set new records for the third-highest prices ever paid by an artist;
 

Top-selling item in this session:

Yayoi Kusama's "River" sold for HK$1.7 million at hammer price, or HK$2.193 million including commission.

Provenance: Takeda Art Gallery, Tokyo. Acquired by the current owner from the above provenance.

Top 2 in sales this session:

Chen Yifei's "Twilight (Suzhou)" was hammered down at HK$1.6 million, and sold for HK$2.064 million including commission.

Painted in the United States in 1984, accompanied by a certificate of guarantee issued by the Chen Yifei Estate Management Committee.

Provenance: Hammer Gallery, New York; Houston private collection; works inherited by the aforementioned collector's family.

Top 3 transactions in this session:

Yoshitomo Nara's "Artist's Own Graffiti" sold for HK$1.6 million at hammer price, totaling HK$2.064 million including commission.

Created in the United States in 2009. (Catalogue information provided by Yoshitomo Nara Studio).

Provenance: Created directly by the artist on the interior wall of the Niagara bar in New York's East Village in 2009; to be removed for preservation in 2024.

Several artists broke auction records

Other items sold at auction:

Besides the top three most expensive lots, the auction also includes a wide selection of masterpieces by both Chinese and Western artists, including works by Yayoi Kusama, Zeng Fanzhi, Yoshitomo Nara, Li Zhen, Mei Zhongshu, Ara Bacchus, and Havel Calega, among others.

Stay tuned to ArtPro for the latest updates on the global art market.

Author: Xie Mu