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Christie’s Hong Kong 20th C & Contemporary Evening Sale Breaks a Billion HKD ($132.6m)

May 26, 2018 by Marion Maneker

Zao Wou-ki, 14.12.59 ($22m)

Christie’s broke a billion dollars in their Hong Kong Evening sale opening the Spring sales cycle in free trading zone. The $132.6m sale was led by this Zao Wou-ki painting that previously sold in 2007 for $3.75m which gives you some sense of how far the Chinese market has traveled in a decade.

Other notable sales were a small Richter abstract painting for ~$2m, a Basquiat for nearly $10m and a Keith Haring tarpaulin for $1m.

Christie’s Asian 20th Century and Contemporary art

Phillips 20th Century & Contemporary Art & Design, Hong Kong = $119.84m ($15.36m)

November 27, 2017 by Marion Maneker

Phillips’ Evening Sale of 20th Century & Contemporary Art & Design in Hong Kong realised HK$119,840,000, selling 90% by lot and 72% by value. The sale saw activity from all corners of the globe, with bidders from 34 countries participating.

With Sales in Hong Kong, Christie’s & Phillips Test the Asian Market’s Appetite for Western Contemporary Art

May 25, 2017 by Marion Maneker

The South China Morning Post’s Enid Tsui remains skeptical of the auction houses’ new strategy to bring Western Contemporary art to Hong Kong for sale. Her main complaint is that the works the auction houses have been bringing haven’t been choice.

This weekend, Phillips has Doig, Condo, Keifer, Richter and Ruscha on offer in Hong Kong. Christie’s has Cecily Brown, Willem de Kooning, Adrian Ghenie, Rudolf Stingel and Cy Twombly (not to mention Njideka Akunyili Crosby too.)

We’ll all be watching closely to see if Christie’s and Phillips are better able to gauge the market than Sotheby’s was. But Tsui suggests going in a different direction:Continue Reading

Hong Kong Rises as Gem & Jewelry Center Reflecting Asian Appetite for Alternative Stores of Value

May 4, 2017 by Marion Maneker

The South China Morning Post has a booster story on the rise of Hong Kong as a Jewelry trading center as Mainland buyers continue to defy capital export controls and sock their surplus cash into the large colored stone and vintage jewelry market.

Asian buyers have long had a taste for compact, portable stores of value in the form of gem stones. So the increase in buying activity that makes Hong Kong a global center is more a measure of the wealth in China and the safe havens it seeks. Here’s the SCMP:

Thanks to the participation of mainland buyers at Hong Kong auctions, the city has surpassed New York as the world’s second-largest jewellery auction hub and is now on a par with Geneva. To tap the rising demand for jewellery and arts, mainland-headquartered auction houses, such as Poly Auction, Tiencheng International Auctioneer and China Guardian, have opened Hong Kong branches, competing with established international houses, Sotheby’s, Christie’s and Bonhams. The presence of mainland auctioneers has consolidated Hong Kong’s status.

What’s more interesting, though one has to be conscious of the source, is that the auction houses report buyers are moving toward the very wares the market has been chasing over the last decade. Namely, big diamonds are giving way to lesser stones and signed vintage pieces valued for their design.Continue Reading

Takashi Murakami, with a Retrospective Opening in Russia, Still Wants Recognition in His Homeland 

April 6, 2017 by Marion Maneker

Takashi Murakami, Miss Ko 1.9-2.6m USD)

Art Basel in Hong Kong brought a lot of artists to the city, including Takashi Murakami who is looking forward to a retrospective of his work in Moscow this Fall. He spoke to Enid Tsui about his reputation:Continue Reading

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