Sotheby's and Christie's Asian Auctions: Rothko Debuts in Hong Kong, Zao Wou-Ki Leads Shanghai

Sotheby's and Christie's held major auctions in Hong Kong and Shanghai in November 2024. Sotheby's inaugurated its new Chater House headquarters with Modern & Contemporary Art Auctions on November 11-12, featuring a Mark Rothko painting, Untitled (Yellow and Blue), from 1954. Estimated at HK$225-275 million, it sold for HK$252.5 million (approx. €30 million), becoming the fourth most expensive Western artwork sold in Asia. Other notable lots included Shi Hu's Heaven (2017) at HK$7.8 million and Yayoi Kusama's Hat (1983) at HK$43.8 million. The total reached about €50 million, with Rothko accounting for over half. Christie's held its 20th/21st Century Evening Sale in Shanghai on November 7, achieving strong results with 25 of 28 lots sold. Top lots included Zao Wou-Ki's 30/09/65 (1965) for about €8 million and Yoshitomo Nara's Untitled (2007) for nearly €4 million. Emerging artists like Vojtech Kovarik, Mehdi Ghadyanloo, and Xia Yu also performed well above estimates.