Jing Daily predicts strong bidding from Mainland collectors for Chinese Contemporary art at Christie’s Hong Kong sale this weekend. Many of the top lots in the Ullens sale last month at Sotheby’s still went to Western buyers:
Mainland Chinese collectors have shown a particular interest in many of the artists included in the contemporary sales, and there’s no reason to suspect their buying habits will be significantly different than what we saw at Sotheby’s last month. Look for Zhang Xiaogang to figure heavily in Chinese bidding, as the artist has seen a boost in visibility among Chinese collectors since his early work “Forever Lasting Love” became the first-ever Chinese contemporary work to sell for over US$10 million last month. Seven of Zhang’s works will go under the hammer on May 28-29, with his 2001 work “Bloodline: Big Family – Father and Son” estimated to go for between HK$14-20 million (US$1.8-2.6 million). However, expect this piece to sell for at least double that. Expect strong showings from other artists popular with Chinese collectors, such as Liu Ye (12 works), Zeng Fanzhi (eight works), Yue Minjun (10 works) and Yu Youhan (three works).