On March 27, 2026, at 7:00 PM, this auction, as Christie's Asia's opening flagship evening sale for its 40th anniversary, was held at The Henderson in Hong Kong, with 37 lots sold.100% soldWith perfect results, they ultimately wonHK$655.7616 millionThe total sales reached HK$92.1 million, making it a benchmark auction for the 2026 Hong Kong Art Week. Gerhard Richter's "Abstract Painting" topped the list at HK$92.1 million.

The auction items span from the 17th century to the present day, bringing together masterpieces from both Eastern and Western art giants as well as emerging talents from around the world. This not only demonstrates the strong demand for rare and exquisite works in the high-end art market, but also highlights Hong Kong's core position as a hub for art transactions between East and West. The auction results and the layout of the items deeply reflect the core trends of the current global modern and contemporary art market.

New record:
Several artists, including Kohei Nawa and Eungbae Lee, have set new records for the third-highest prices ever paid for an artist's work.

Auction Highlights

I. Key Transactions: All sectors showed gains, with high-priced benchmarks and high premiums coexisting.

1. Top lots set the tone for value, with both Western classics and Chinese masters leading the way.

The top three highest-selling items all exceeded HK$50 million.This forms a high-priced core group consisting of Western abstract benchmarks, classic Chinese art, and cross-cultural art treasures, all of which sold above their estimated prices, demonstrating the market value of top-tier masterpieces as hard currency.
Gerhard Richter's "Abstract Painting" sold for HK$92.1 million.The work topped the auction, a masterpiece from the artist's Red Series. Only 27 of these works exist worldwide, with 3 in museum collections. This is its first time being auctioned, and it is estimated to be between HK$78 million and HK$98 million, setting a high bar for the entire sale.

2. Mid-tier lots performed steadily, with the multi-million dollar tier solidifying the overall transaction volume.
Sixteen lots, accounting for over 43% of the total, sold for more than HK$10 million. These lots focused on Eastern and Western modern art from the mid-20th to early 21st century (Chang Yu, Zao Wou-Ki, Chu Teh-Chun, Richter, Hockney) and international contemporary art (Basquiat, Yayoi Kusama, Takashi Murakami), and were the main contributors to the overall sales.
Western classical masters:Van Gogh's "Girl in the Woods" sold for HK$33.44 million, Monet's "House in the Roses" for HK$23.07 million, David Hockney's "Chair" for HK$38.93 million, and Yayoi Kusama's "Pumpkin" for HK$39.54 million, all exceeding their estimated prices, demonstrating the market stability of classic art.
Mainstay of Chinese Art:Zao Wou-Ki's "Journey to the Sanctuary" sold for HK$34.66 million, and Chu Teh-Chun's "Blue Cold Sky" sold for HK$31 million. The abstract works of these two masters continue to be the core targets in the Asian market. Sanyu's other work, "Nude Back on Chair II," also sold for HK$26.12 million, which confirms the consensus on the value of Chinese modern art.

3. New and emerging auction items command high premiums, highlighting the potential of the new generation.

Works by emerging artists born after 1970 all fetched significant premiums, with undervalued lots performing particularly well and becoming one of the biggest highlights of the auction.
Chinese post-90sArtist Li Heidi's "In the Excitement of Death" was estimated at HK$500,000 - 800,000, but sold for HK$1,905,000, more than double the original price.

Japanese born in the 1970sArtist Kaho On (born 1978)'s "Yes! (A Bag Made by Mother)" was estimated at HK$500,000 - HK$1,000,000, but sold for HK$4,572,000, more than four times the original price.

Thai people born in the 1970sNatty Utari (b. 1970),Filipinos born in the 1970sWorks by emerging artists such as Ronald Ventura (born 1973) all sold above their estimates, with the lowest premium reaching more than 1.3 times.

Top-selling item in this session:

Gerhard Richter's "Abstract Painting" sold for HK$76 million at hammer price, or HK$92.1 million including commission.

Top 2 in sales this session:

Sanyu's "Horse with Bent Legs on a Carpet" sold for HK$52 million at hammer price, or HK$63.94 million including commission.

Top 3 transactions in this session:

Walter Spies's "Looking Up" sold for HK$48 million at hammer price, or HK$59.06 million including commission.

Other items sold at auction:

Besides the top three most expensive lots, the auction also includes numerous masterpieces by Chinese and Western artists, including outstanding works by Yayoi Kusama, David Hockney, Zao Wou-Ki, Vincent van Gogh, Chu Teh-Chun, Marc Chagall, and Sanyu.

• AsThe meeting point of Eastern and Western artIt not only carries the value output of Asian art, but also facilitates the landing of Western art in Asia;
• AsThe core gathering place of Asian collectorsIt covers core collector groups in mainland China, Hong Kong, and Southeast Asia, while also attracting collectors from around the world.
• AsA bellwether for the art marketIts transaction results directly reflect the trends of the global contemporary art market, becoming an important benchmark for the global art season.

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

For more details on the auction items, please click to view the special session.

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

Author: Xie Mu