【Result Report】Chu Teh-Chun broke 100 million (HKD) for the first time, nude women by San Yu sold high, dazzling results come from modern and contemporary art evening sales on July 8
On the evening of July 8th, Sotheby's Hong Kong and Phillips Hong Kong took the lead to lift the hammer, including 3 special auctions – “Modern Art Evening Sale” and “Modern and Contemporary Southeast Asian Art Evening Sale” of Sotheby’s, “20th Century & Contemporary Art Evening Sale” of Phillips. Among them, Sotheby's Modern Art Evening Sales generated HK$826 million in total sales. This was the second highest turnover ever for a Sotheby's Evening Sale of Modern Art in Hong Kong.
Sotheby's Hong Kong Modern Art Evening Sale
Sotheby's Hong Kong Modern Art Evening Saleled by San Yu ’s QUATRE NUS and Zao Wou-Ki's 20.03.66. Within the 35 pieces of lots, with sold-by-lot rate of 97.1%,deal volume of HK$830 million.
Top Selling: San Yu’s QUATRE NUS
The highest price of the night goes to San Yu ’s QUATRE NUS, estimate upon request. This lot is the only work finished after three oil painting draft, showing his craftsmanship spirit in repeatedly refining the picture and his attaching great value to QUATRE NUS.
That night, it triggered fierce competition on the spot. After starting at HK$160 million, the hammer was sold at HK$225 million with commission of HK$258 million, making it San Yu ’s personal list. Top2.
Two of Zao Wou-Ki's works were sold for over HK$100 million, and all seven works were sold over-estimated.
Zao Wou-Ki has always been a favorite of the market, he occupied 7 out of 35 lots in the evening of July 8, and all the 7 lots were sold at over-estimated prices, showing the fervour of the market.
In particular, the highlight of the Hurricane Period, 20.03.60 and 19.11.59, after intense bidding, were sold respectively for HK$114 million and HK$110 million, refreshing the Top9 and Top10. Zao Wou-Ki's Up to now, all the personal Top10 works by the artist were sold for more than HK$100 million.
CHU TEH-CHUN’s LES ÉLÉMENTS CONFÉDÉRÉS Renews Personal TOP1
The top selling lot (Another impressive lot) is from CHU TEH-CHUN’s. LES ÉLÉMENTS CONFÉDÉRÉS, estimate upon request, is the only pentaptych in his life time. He chose a studio with enough space to contain this giant canvas painting. This is a symbol large canvas painting of the artist, marvelously integrating two cultures: the pentaptych echoes the Chinese “five elements” – gold, wood, water, fire, and earth; the tribute to nature is the artist’s homage to Beethoven’s Ninth Symphony, Ode to Joy.
Green in different levels leads the tone. From clear to profound, the composition is full of strength, manifesting the nature lively, implicitly, brilliantly, and harmoniously. That night, triggered fierce competition on the spot. After starting the bidding at HK$65 million, the hammer fell at HK$98 million, and the commission was finally sold at HK$113 million, making it the CHU TEH-CHUN’s personal list Top1.
Sotheby's Hong Kong Modern and Contemporary Southeast Asian Art Evening Sale
Sotheby's Hong Kong Modern and Contemporary Southeast Asian Art Evening Sale contains 18 lots with a total turnover of HK$41.72 million. Among them, Le Mayeur with his debut painting BALINESE WOMEN IN THE GARDEN becomes the top selling lot of this auction. The seller’s grandfather is a fanatic fan of Le Mayeur , so that he directly bought the painting from the artist. For decades, the painting belongs to the same private collector, as the work is so resounding in tableau. Another work of the artist VILLAGE GIRLS becomes the third top selling lot with its turnover of HK$7.37 million.
Phillips Hong Kong 20th Century & Contemporary Art Evening Sale
Phillips Hong Kong 20th Century & Contemporary Art Evening Sale It brings together Zao Wou-Ki, Liu Ye, Kaws, Yoshitomo Nara and other important works by well-known Chinese and Western contemporary artists, a total of 22 lots. The total turnover reached HK$199 million with a turnover rate of 86.4%.
Zao Wou-Ki Hurricane Period Masterpiece Costco Focus
22.6.63, originally from the Kurtz Gallery, 146 x 89 cm, black lacquer on a deep red background. After a fierce bidding process, the company finally over-valued by 25.92% to HK$54.31 million. This is the most expensive deal of the session.
This auction features two of Zao Wou-Ki's artworks, the other named 24.10.63. It is said that these two works were collected together by one former collector and have never been exposed neither been shown in auction market for 57 years. This time they're bought together again by the current collector.
Liu Ye Renews Personal TOP4
Since Liu Ye's Smoke has been sold for HK$ 52 million last year, his Choir of Angels (Red) is welcomed by collectors again. Choir of Angels (Red) is one of the works in his earliest time, a piece from his “Red Curtain” series.The final hammer price of this work was HK$23 million, and the final sale price plus commission was HK$27.75 million, a new record for Liu Ye Top 4 of the personal list. Another work of Liu Ye's LEAVE ME IN THE DARK is up for auction on July 9th. Let’s wait and see its performance. All the works of several Contemporary Chinese artists are sold at that night, all with good results.
Young artist Matthew Wong becomes a dark horse
Matthew Wong was known as a "gifted painter". He was born in 1984, unfortunately passed away in Canada in 2019. He was a self-taught painter and famous for using bold colors in his works. This time his work "Warmth" was estimated at only HK$600,000-800,000, but finally sold for HK$2.625 million with an over-low-estimated rate of 425%, making it the dark horse of the sale!
At that night, ten-million turnovers are also from classic works from artists such as Zao Wou-Ki's 29.02.88, 01.11.86, Ville Suspendue, Wu Guanzhong's Hometown Of Lu Xun, Yoshitomo Nara's Wisdom Tooth Fever, San Yu's Femme Nue Étendue.
Hong Kong Spring Auction is in full swing. On July 9th, a great amount of modern and contemporary lots of highlights are up for auction. Let’s wait and see their performance, and we hope every collector will be able to take their “beloved ones” home!