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Making Money by Making Friends with the Ullens

October 23, 2013 by Marion Maneker

Guy & Myriam Ullens

Mary J. Lane had a good interview with the Ullens after the sale of their Zeng Fanzhi in Hong Kong set a new record and continued the long-desired Chinese view that their artists should command the same price levels as Western artists. Guy Ullens explained how their relationships with Chinese artists

When I started doing business in China in the early 1980s it was beginning to open up, so I started buying classical objects. From that, I met Chinese artists including Ai Weiwei and Wang Keping, who had decided they were going to live their own lives and not work for the state anymore. […] The one who became the most famous in China was Liu Xiaodong. The first major work of his I bought was a portrait of his wife Yu Hong painted in 1993. Myriam and I spent a day with them in Beijing when he painted a portrait of us in 2008 for around $100,000. I think Liu smoked about three packs of cigarettes while he was doing it. Mimi didn’t like her portrayal. She felt it looked too Chinese and not enough like herself, but I very much like mine. Both of those are in storage.

We all don’t hang out as much anymore; Ai Weiwei, Wang Keping and Liu all became very important people—more difficult to meet, more formal, and they watch what they say now. That’s normal when you start painting for $1 million or more.

Art ‘to Give Me Goosebumps’ (Wall Street Journal)

Who Bid for Ullens, Pt. 2?

October 2, 2011 by Marion Maneker

Jing Daily was in the auction room for the second installment of the Ullens sale at Sotheby’s in Hong Kong today. There they saw a lot of telephone bidding which comports with the number of Western buyers still very active in the Chinese Contemporary market. But the site’s reporter says there was a frenzy in the room:

Holding the sale in a packed house populated by dozens of mainland Chinese, alongside local buyers and dealers, Sotheby’s saw opening bids for some lots open far beyond their low estimates due to the sheer amount of bidders. At times, Jing Daily observed bid increments skyrocket from HK$2.2 million to HK$3.5 million to HK$4.5 million, generally for rare pieces like Ding Yi’s “Appearance of Crosses 2001.8 (triptych),” which eventually sold for HK$5.4 million (US$693,000), nearly four times its low estimate.

Sales Success at Second Ullens Sale in Hong Kong (Jing Daily)

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