New Auction Records Set for 12 Artists Including Matthew Wong, Lucas Arruda, Salman Toor, Genieve Figgis, Javier Calleja, Izumi Kato and More
Marking the Highest Ever Total for a Modern and Contemporary Art Auction Series Staged by Both Houses in Hong Kong
Combined Total for Evening and Day Sales: HK$508,424,540/ US$65,586,765
Jonathan Crockett auctioneering Yoshitomo Nara’s Hothouse Doll
Jonathan Crockett, Chairman, Asia, Phillips, said: “In a break from tradition, this season’s sales were unlike any before and marked the very first time that two leading auction houses have collaborated in such a way in Hong Kong. I am immensely pleased with the combined sale total of HK$508 million/ US$66 million, exceeding the pre-sale estimate of HK$309-450 million. Despite the current climate, I am delighted that we have achieved these exceptional results, marking the highest total for a Hong Kong Evening and Day Sale respectively in company history. Yoshitomo Nara’s Hothouse Doll sold for a remarkable HK$103 million / US$13 million, setting the second highest price ever for the artist at auction as well as the most expensive artwork ever sold at Phillips Hong Kong. As Phillips continues to bring the most highly-coveted contemporary artworks to the region, we saw a tremendous depth of bidding that resulted in 12 new world auction records being set, led by Matthew Wong’s River at Dusk, which soared to nearly four times its high estimate and eventually sold for almost HK$ 38 million. In addition, with the brand new live-streaming format featuring dynamic camera angles and a virtual event experience, this season’s 20th Century & Contemporary Art & Design sales welcomed nearly 400 online bidders and more than 200 phone bidders from 35 countries vying for the best quality works of art and design. I would like to thank everyone involved in this partnership for their contribution, from both houses, as well as our clients from around the world who fully embraced this unique initiative and showed their full support.”
Alex Chang, Managing Director of Poly Auction (Hong Kong) Ltd. said, “We are incredibly pleased to see these joint sales held by Poly Auction and Phillips achieve such record-breaking results. A total of 177 exquisite works were put up for auction, with the two sales generating a grand total of HK$ 508 million and a successful sell-through rate of 94% by lot and by value. Yoshitomo Nara’s Hothouse Doll, which appeared as the cover of the artist’s most comprehensive catalogue raisonné, and Untitled, the largest two-dimensional artwork by Nara to appear on the auction market, both achieved impressive results, demonstrating the strong demand and robust market for premium works of art. This year has been more crucial than ever that the auction world adapts and innovates, and I am pleased to see this mutually beneficial partnership bring Poly Auction and Phillips a win-win result as we presented collectors with an unprecedented and abundant array of art and design.”
20th Century & Contemporary Art Evening Sale
Hong Kong, 3 December 2020 Total: HK$ 387,995,000 / US$ 50,051,355
|
Lots Sold: 29 | Lots Offered: 31 |
Sold by Lot: 94% | Sold by Value: 94% |
- World auction records set for 4 artists including Salman Toor, Matthew Wong, Bernard Frize, and Lucas Arruda.
- Yoshitomo Nara’s Hothouse Doll sold for HK$103,115,000/ US$13,301,835, set the 2nd highest auction price for the artist.
- Matthew Wong’s River at Dusk achieved HK$ 37,760,000, soared to nearly 4 times its pre-sale high estimate and set a new auction record for the artist.
- This season marked Salmon Toor and Lucas Arruda’s auction debut in Asia. Salmon Toor’s Group Dance fetched HK$4,032,000, far surpassing the HK$380,000-480,000 estimate and set a new auction record for the artist at that time. One of the largest sized pieces to appear at auction, the artist’s Untitled, from his Deserto-Modelo series, sold for HK$ 3,780,000, setting a new world auction record for Arruda, following the world auction record achieved by Phillips London in February 2020.
- The live auction event was telegraphed worldwide from the auction room set in Hong Kong, with two live video and bidding feeds from Poly and Phillips specialists in Beijing, bringing huge excitement and energy to a number of top lots with competing bids between representatives from both Poly and Phillips.
Top Ten Lots
|
Lot |
Description |
Estimate |
Price Achieved |
|
5 |
Yoshitomo Nara, Hothouse Doll, 1995 |
HK$50,000,000 - 70,000,000 |
HK$103,115,000 |
|
7 |
Jean-Michel Basquiat, Ancient Scientist, 1984 |
HK$50,000,000 - 70,000,000 |
HK$58,330,000 |
|
4 |
Matthew Wong, River at Dusk, 2018 |
HK$7,000,000 - 10,000,000 |
HK$37,760,000 |
|
8 |
Gerhard Richter, Abstraktes Bild (682-4), 1988 |
HK$20,000,000 - 30,000,000 |
HK$32,315,000 |
|
6 |
Yoshitomo Nara, Untitled, 2007 |
HK$24,000,000 - 36,000,000 |
HK$29,290,000 |
|
9 |
Yayoi Kusama, INFINITY-NETS (QRTWE), 2007 |
HK$15,000,000 - 20,000,000 |
HK$17,190,000 |
|
20 |
Zao Wou-Ki, 12.2.69, 1969 |
HK$6,500,000 - 8,500,000 |
HK$13,560,000 |
|
10 |
Yayoi Kusama, Fruits [EPSOB], 2011 |
HK$7,000,000 - 12,000,000 |
HK$12,350,000 |
|
21 |
Zao Wou-Ki, 14.06.73, 1973 |
HK$10,000,000 - 16,000,000 |
HK$12,350,000 |
|
23 |
Chu Teh-Chun, Le 30 mars 1981, 1981 |
HK$5,500,000 - 7,500,000 |
HK$7,752,000 |
New Auction Records (Evening Sale)
|
Lot |
Description |
Estimate |
Price Achieved |
|
1 |
Salman Toor, Group Dance, 2012 |
HK$380,000 - 480,000 |
HK$4,032,000 |
|
|
*previous record price: £138,600 set in October 2020 |
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|
4 |
Matthew Wong, River at Dusk, 2018 |
HK$7,000,000 - 10,000,000 |
HK$37,760,000 |
|
|
*previous record price: $4,470,000 set in October 2020 |
||
|
16 |
Bernard Frize, Wir, 2018 |
HK$1,000,000 - 2,000,000 |
HK$2,142,000 |
|
|
*previous record price: HK$ 1,500,000 set in November 2019 |
||
|
29 |
Lucas Arruda, Untitled, 2013 |
HK$1,500,000 - 2,500,000 |
HK$3,780,000 |
|
|
*previous record price: £300,000 set in February 2020 |
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20th Century & Contemporary Art & Design Day Sale
Hong Kong, 4 December 2020 Total: HK$120,429,540 / US$15,535,411
|
Lots Sold: 137| Lots Offered: 146 |
Sold by Lot: 94%| Sold by Value:93% |
- Multiple world records set for Asian and Western artists, including the top two prices for Izumi Kato and Chiharu Shiota, as well as records for Genieve Figgis, Jonathan Chapline, Yukimasa Ida, Miya Ando, Virgil Abloh & Takashi Murakami, and Javier Calleja. Genieve Figgis’ previous auction record was also achieved in a Phillips Hong Kong sale, resulting in three top prices for the artist sold at Phillips Hong Kong.
- Over 63% of lots sold for prices over their pre-sale high estimates. Works by Genieve Figgis, Izumi Kato, and Javier Calleja were extremely popular and ignited bidding frenzies, all sold for prices which far exceeded their pre-sale high estimates.
- The Design category achieved a 100% sell-through rate, marking the fourth consecutive season for the category in a Phillips Hong Kong auction seeing 100% of lots sold, and demonstrating Phillips’ market leading position in this field.
Top Ten Lots
|
Lot |
Description |
Estimate |
Price Achieved |
|
214 |
Chu Teh-Chun, Serin, 1990 |
HK$3,000,000 - 5,000,000 |
HK$ 6,300,000 US$812,700 |
|
106 |
Genieve Figgis, Wedding Party, 2019 |
HK$550,000-850,000 |
HK$4,410,000 US$568,890 |
|
110 |
Mr., Untitled, 2015 |
HK$2,000,000 - 3,000,000 |
HK$4,284,000 |
|
168 |
Yayoi Kusama, Untitled, 1970 |
HK$1,200,000 - 2,200,000 |
HK$4,032,000 US$520,128 |
|
154 |
Javier Calleja, No More Stories, 2019 |
HK$300,000 - 500,000 |
HK$4,032,000 US$520,128 |
|
142 |
Zhang Enli, Balls, 2011 |
HK$500,000 - 700,000 |
HK$2,898,000 |
|
163 |
Yoshitomo Nara, I'm Ready to Go Anywhere, I'm Ready to Fade Away, 2007 |
HK$1,600,000 - 2,600,000 |
HK$ 2,898,000 |
|
101 |
Matthew Wong, One Fine Day, 2017 |
HK$500,000 - 700,000 |
HK$ 2,772,000 |
|
215 |
Georges Mathieu, Aveux Obscurs, 1989-90 |
HK$1,200,000 - 2,200,000 |
HK$2,520,000 US$325,080 |
|
177 |
KAWS, UNTITLED (MBFS4), 2015 |
HK$1,800,000 - 2,500,000 |
HK$ 2,520,000 |
New Auction Records (Day Sale)
|
Lot |
Description |
Estimate |
Price Achieved |
|
102 |
Jonathan Chapline, Untitled, 2018 |
HK$300,000 - 500,000 |
HK$1,890,000 |
|
|
*previous record price: HK$ 875,000 set in July 2020 |
||
|
106 |
Genieve Figgis, Wedding Party, 2019 |
HK$550,000-850,000 |
HK$4,410,000 US$568,890 |
|
|
*previous record price: HK$2,375,000 set in November 2019 |
||
|
120 |
Yukimasa Ida, Miko, 2017 |
HK$200,000 - 300,000 |
HK$ 1,512,000 US$195,048 |
|
|
*previous record price: JPY 18,400,000 set in June 2020 |
||
|
134 |
Miya Ando, Kumo (Cloud) Oct. 3.3.4, 2018 |
HK$100,000 - 200,000 |
HK$189,000 |
|
|
*previous record price: US$1,750 set in October 2014 |
||
|
147 |
Izumi Kato, Untitled, 2017 |
HK$500,000 - 700,000 |
HK$2,268,000 |
|
|
*previous record price: HK$1,625,000 set in December 2020 |
||
|
153 |
Virgil Abloh & Takashi Murakami, "OUR SPOT 1", 2018 |
HK$800,000 - 1,200,000 |
HK$1,134,000 |
|
|
*previous record price: HK$875,000 set in May 2019 |
||
|
154 |
Javier Calleja, No More Stories, 2019 |
HK$300,000 - 500,000 |
HK$4,032,000 |
|
|
*previous record price: HK$ 3,725,000 set in July 2020 |
||
|
167 |
Chiharu Shiota, State of Being (Shoes), 2019 |
HK$220,000 - 420,000 |
HK$1,033,200 |
|
|
*previous record price: TWD 2,400,000 set in October 2020 |
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