K Auction’s May Hong Kong Sale held on Sun, May 29th 2016 totaled HK$ 51,395,773 / US$ 6,616,289, with 85% sold by lot. There was bidding from mainland China, US and Europe. The sale attracted more than 100 buyers from more than 10 countries across 5 continents. Top lots include:
Kim Whanki, Untitled, 1964-65, HK$ 6,700,000
Pablo Picasso, Clown et Femme, 1953, HK$ 5,400,000
Park SeoBo, Ecriture No. 214-85, 1985, HK$ 4,100,000
Yun Hyong-Keun, Umber-Blue, 1975-78, HKD 1,600,000, (doubled its lowest estimate)
Chung SangHwa, Untitled, 1978, HKD 220,000, (doubled its lowest estimate)
Kwon YoungWoo, Untitled, HKD 115,000, (doubled its lowest estimate)
Lee UFan, Correspondance, 2006, HKD 180,000, (exceeded its highest estimate)
Solid prices were achieved for all 5 lots by Kim WhanKi
More from Art Market Monitor
Asian Buyers Do Their Half Their Auction Business in Europe or the US
Sotheby’s Increases Auction Commission Margin in Q1
To Satisfy Demand, Korean Auctioneers Come Back to Hong Kong After Successful October Sales
Solid Results for Sotheby's in HK
HK Sales Down 8% on Credit Fears—Mainland Buyers Still Strong
Picasso Portait of Jacqueline Leads Christie’s NY Sale in November
