Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Sotheby’s Hong Kong Golden Week Cycle = 2.66bn HKD ($342m); Equals Spring Cycle, ↓ 10% from 2014

October 8, 2015 by Marion Maneker

Sotheby's HK Infographic 1015
Sotheby’s HK Infographic 1015

Sotheby’s wraps up its Hong Kong sales cycle coinciding with Golden Week in China. Once again, the Saturday night Evening sale of Modern and Contemporary Asian painting was the highest grossing sale in the cycle. That’s a recent shift from porcelains and Chinese works of art:

The top lot was an 18th century portrait of the consort of emperor Qianlong painted by Italian court artist Giuseppe Castiglione that sold to an anonymous telephone bidder for HK$137.4 million, more than double its low estimate of HK$60 million, a record for imperial portraiture.

Other auction highlights included a Kashmir sapphire and diamond ring that sold for HK$52.3 million and a vintage Patek Philippe watch for HK$7.8 million, the auction house said.

[Sohteby’s Nicholas] Chow said the Castiglione painting failed to sell at auction in 2003 during the SARS epidemic in Hong Kong, when the top bid of HK$12 million didn’t achieve the reserve price. On Wednesday, the bidding lasted for about 20 minutes.

Chinese Painting Leads $344 Million Sotheby’s Asia Sale  (Bloomberg Business)

More from Art Market Monitor

  • TEFAF Sales Report 2014TEFAF Sales Report 2014
  • Jing Daily Picks Top 10 Cont. Lots in HK SaleJing Daily Picks Top 10 Cont. Lots in HK Sale
  • What Does Daniel Loeb Want?What Does Daniel Loeb Want?
  • Money Changes EverythingMoney Changes Everything
  • Remote NY State Museum to Sell Thomas Cole MasterworkRemote NY State Museum to Sell Thomas Cole Masterwork
  • Christie’s Has Picasso Portrait from von FurstenbergChristie’s Has Picasso Portrait from von Furstenberg

Filed Under: General

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • Tony Podesta's Secret Art Buying
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • The Billion-Dollar NYC Apartment of Ben Heller
  • $10 M. Picasso Portrait Unseen for Decades to Sell at Bonhams
  • How to Chant Like an Auctioneer
  • David Bowie Talks About Art (with Julian Schnabel)
  • Breaking Views: Art Doesn't Hedge Inflation
  • Mapping a Career in the Art World
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor