Collectors spend over HK$1.74 billion in a single evening at Sotheby’s Hong Kong

Held on 27 April, a collection of Marquee gross sales at Sotheby’s Hong Kong smashed expectations and broke information.

Yesterday evening, collectors from world wide joined Sotheby’s Hong Kong to spend a jaw-dropping HK$1.74 billion (US$221.8 million) — the very best whole ever achieved in a single night.

The quantity is the sum throughout three auctions, which have been live-streamed on Sotheby’s web site, in addition to on an extra 9 social media and broadcast platforms.

The “De Beers Blue Diamond” (Photo: Sotheby’s Hong Kong)

The three gross sales featured choices of Modern and Contemporary Art, plus a really particular single lot sale of the De Beers Blue — the biggest blue diamond ever to be supplied at public sale.

Over three-quarters of the works have been recent to the market and almost all of them discovered new properties — we’re speaking nearly 95% of the Modern sale and 98% of the Contemporary sale. Covid restrictions and guidelines proved nothing however youngster’s play for the auctions, with just below 50% of bidders taking part on-line.

Highlights of the night at Sotheby’s Hong Kong:

The “De Beers Blue Diamond” fetched HK$451 million, among the many highest costs ever achieved for any diamond bought on an open market. The 15.10 step-cut Fancy Vivid Blue diamond was bought by a personal collector represented by Wenhao Yu, Chairman of Jewellery and Watches at Sotheby’s Asia, by way of phone.

Louise Bourgeois’ Spell-Binding Bronze “Spider IV” traded at HK$129 million, successfully changing into essentially the most invaluable sculpture ever bought in Asia. If you had a fairly HK$120-150 million mendacity round however missed the gross sales, don’t fear, the arthropod is simply the primary of Bourgeois’ well-known Spider collection to be supplied within the area.

“Dora Maar” by Pablo Picasso (Photo: Sotheby’s Hong Kong)

In addition to the “De Beers Blue Diamond” and “Spider IV”, three different heaps bought for over HK$100 million. The first was Wu Guanzhong’s resplendent panorama, “Plum Blossoms”, from 1973, which went for HK$103.9m, adopted by Yoshitomo Nara’s bigger than life portray, “Oddly Cozy”, bought for HK$112m and Pablo Picasso’s 1939 portrait of “Dora Maar”, surpassing its estimate to finally promote for HK$169.4 million to a Japanese collector. This transaction marked the second-highest value for the artist at public sale in Asia, with Sotheby’s now holding 4 of the highest 5 costs for Picasso within the area.

“Bourgeois’ spider, like Picasso’s portrait of “Dora Maar”, is a type of works that, as soon as seen, isn’t forgotten. What an honour to convey them to Hong Kong, to see them excite so many viewers in our galleries, and to see them pursued in our sale room. Western artists have come to characteristic comparatively massive in our Hong Kong gross sales, however what’s notably thrilling for me is to see them in dialogue with their Asian counterparts, nice artists like Wu Guanzhong, Chu Teh-Chun and Yoshitomo Nara, all of whom — as we noticed throughout the night — get pleasure from an enormous following, each right here in Asia and world wide,” stated Alex Branczik, Chairman of Modern and Contemporary Art, Sotheby’s Asia.

Sotheby’s, One Pacific Place, 88 Queensway, Admiralty, Hong Kong

Lead and featured picture courtesy of Sotheby’s Hong Kong

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