This report on the Sotheby's Hong Kong modern art evening sale is available to AMMpro subscribers. (The first month of AMMpro is free and subscribers are welcome to sign up for the first month and cancel before they are billed.)
On Monday, Sotheby’s Hong Kong modern art evening sale brought in a total HKD 747.8 million ($96.5 million) with buyer's premium across 25 lots. It hammered well above the pre-sale high estimate of HKD $468.1 million ($60.4 million). The sell-through rate of 92.3 percent speaks to the rebound of demand in Asia and the client base's preference for regional artists over global names sold in Tuesday's contemporary art evening sale, which saw a slightly lower total sale of HKD 684 million ($88 million). The result was an increase of 22.5 percent over the October 2019 equivalent sale total of $78.8 million across 32 sold lots. The two sales bracket the global Covid-19 pandemic and demonstrate the strength of the Asian market.
46 percent of works sold above the high estimate and 42% sold within their pre-sale expectations. Only one work failed to reach its low estimate.
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: