It is a testimony to how far the market for Zao Wou-ki has come that this very small watercolor sold for nearly twice its estimate in Hong Kong yesterday. The overall success of the $65m sale—which as nearly 20% above the presale low estimate on a hammer price basis—was built on stalwart names like Zao, Wu Guanzhong, a tiny Sanyu that made up for its tiny size with a big price, Yayoi Kusama, Yoshitomo Nara, Zeng Fanzhi and, even, the historically important Liu Xiaodong work once owned by the Ullens.
Sign up to Art Market Monitor Premium today
You need a membership to AMMpro to view this article and other exclusive content daily.
You can register today for $90 per month—with your first month free!—or for $756 per year (no free trial period.)
If you already have an account, sign in here:
