The analysis of Phillips and Poly Auction's joint 2020 Modern and Contemporary sale on December 3 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.)Phillips in Hong Kong achieved its highest total for a 20th century and Contemporary art sale today when, in association with Poly auctions, one of mainland China’s biggest auction rooms, it sold 29 lots for HKD 388 million ($50 million) after one lot was withdrawn and two were unsold. The sale had been estimated to fetch in the region of $40 million so could be deemed a great success. (Sale prices include the buyer’s premium, estimates do not). Phillips is a relative newcomer in Hong Kong and began staging 20th century and Contemporary art sales in November 2016, so are still laying down roots. Like the Hong Kong leg of Christie’s sale yesterday, the early lots were peppered with works by western based artists, Phillips’ strongest suit, who have established a speculative momentum in Asia.
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