Sotheby’s held an off-season sale in Hong Kong yesterday that netted 42m HKD ($5.4m) and was clearly aimed at cultivating the middle market. The top lots were still lesser examples of the big names in Asia, Chu Teh-Chun, Zao Wou-ki, Zhang Xiaogang, Damien Hirst and Roy Lichtenstein. There were also strong numbers for artists like Kaws, Yoshitomo Nara, Yayoi Kusama and others.
But the most interesting sales were these two Bernard Buffet works that made around $100,000 each and hinted at potential market opportunity. Buffet’s works were once hugely popular and valuable. They still trade actively in day sales and have been increasing in value and popularity in Europe lately.
A large body of work combined with a new market, could ignite demand and supply.
