Hong Kong's First Marquee Auction Week Generates HKD 1.5 Billion Amid Subdued Market
In September 2025, Hong Kong experienced its first auction week, generating a total of HKD 1.5 billion (USD 190.6 million) across three auction houses. Christie's topped the week on September 26, achieving HKD 817.3 million (USD 105 million), highlighted by Picasso's Buste de Femme (1944), which fetched HKD 196.8 million (USD 25.4 million), marking a record for the artist in Asia. Following this, Phillips conducted its auction on September 27, where Yoshitomo Nara's Pinky (2000) sold for HKD 44 million (USD 5.7 million). Finally, Sotheby's wrapped up the week on September 28, with Nara's Can’t Wait ’til the Night Comes (2012) reaching HKD 79.9 million (USD 10.3 million). The overall market appeared to be softening, as collectors displayed increased price sensitivity compared to previous years.
Key facts
- Hong Kong's inaugural marquee auction week in September 2025 generated HKD 1.5 billion (USD 190.6 million) across three auction houses.
- Christie's Hong Kong achieved HKD 817.3 million (USD 105 million) on September 26, over 50% of the total.
- Pablo Picasso's Buste de Femme (1944) sold for HKD 196.8 million (USD 25.4 million) at Christie's, setting a new auction record for Picasso in Asia.
- Yoshitomo Nara's Pinky (2000) hammered at HKD 44 million (USD 5.7 million) at Phillips on September 27 after an estimate adjustment.
- Sotheby's Hong Kong sold Yoshitomo Nara's Can’t Wait ’til the Night Comes (2012) for HKD 79.9 million (USD 10.3 million) on September 28, a 14% drop from its 2019 price.
- Asian artists accounted for around 45% of Christie's sale by lot, with works by Zao Wou-ki and Yayoi Kusama among top performers.
- Several high-profile lots went unsold or were withdrawn, including works by David Hockney, Loie Hollowell, and Yayoi Kusama.
- The market has softened compared to 2020-2021, when auction totals in Hong Kong exceeded HKD 4.2 billion (USD 544.1 million).
Entities
Artists
- Pablo Picasso
- Zao Wou-ki
- Claude Monet
- Paul Cézanne
- Marc Chagall
- Yayoi Kusama
- Zeng Fanzhi
- Takashi Murakami
- Chen Fei
- Dana Schutz
- Jonathan Gardner
- Issy Wood
- David Hockney
- Adrian Ghenie
- Yoshitomo Nara
- Loie Hollowell
- Pierre Soulages
- Damien Hirst
- Georges Mathieu
- Hao Liang
- Javier Calleja
- Firenze Lai
- Jean-Michel Othoniel
- Ruth Asawa
- Roy Lichtenstein
- Li Hei Di
- Christine Ay Tjoe
- Lalan
- Louise Bourgeois
- Kazuo Shiraga
- Takeo Yamaguchi
- Amoako Boafo
- Dora Maar
- Jean-Michel Basquiat
Institutions
- Sotheby's
- Christie's
- Phillips
- Patti Wong & Associates
- White Cube
- Art Intelligence Global
- ArtAsiaPacific
- South China Morning Post
- Art Basel Hong Kong
Locations
- Hong Kong
- China
- Taiwan
- Asia Pacific
- Giverny
- New York
- Asia