Christie's record billion HKD evening sale total in Hong Kong this past weekend culminates a decade's work. Auctions in Hong Kong were dominated until very recently by the much higher values for Chinese ceramics and other works of art. It was only with the birth of the market for Chinese Contemporary art a little more than a decade ago, which was first developed in New York, that painting and a pan-Asian Evening sale began to make sense in Hong Kong. Over time, the value of Chinese modern and Contemporary painting along with increasing cross-border collecting of Contemporary artists from Japan and Southeast Asia, has made the Evening sale of paintings the most valuable event in Hong Kong sales cycle.
Christie's demonstrated that this weekend. But the seeds were sown in 2008 when Zeng Fanzhi's Mask Series 1996 No. 6 made 75.36m HKD (~$10m). Our friends at Pi-eX put together historical charts of the growth of Christie's Evening sales in Hong Kong for AMMpro subscribers. As always with Pi-eX, the charts are of hammer prices and some do not include works that do not have published estimates.
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