Sotheby's Hong Kong Spring Sales Top HKD 1.5 Billion with New Records
Sotheby's celebrated its 50th anniversary in Asia with spring auctions in Hong Kong, commencing on April 5, 2023, coinciding with Hong Kong Art Week. The events, which featured modern art, contemporary pieces, and luxury collectibles, garnered over HKD 1.5 billion (€173 million). Notable sales included Zhang Daqian's 'Pink Lotuses on Gold Screen' (1973) fetching HKD 252 million (€29 million), Picasso's 'Femme dans un fauteuil' (1948) at HKD 93 million (€10 million), and Miró's 'Sans Titre' (1947) for HKD 50.6 million (€6 million). The contemporary auction achieved sales of HKD 770 million (€90 million) from 41 out of 43 lots, highlighted by Yoshitomo Nara's 'In the Milky Lake' (2012) at HKD 100 million (€11.5 million). Emerging artists also set new sales records.
Key facts
- Sotheby's spring auctions in Hong Kong started April 5, 2023, marking 50 years in Asia.
- Modern and contemporary art sales exceeded HKD 1.5 billion (€173 million).
- Zhang Daqian's 'Pink Lotuses on Gold Screen' (1973) sold for HKD 252 million (€29 million), third-best for the artist.
- Pablo Picasso's 'Femme dans un fauteuil' (1948) achieved HKD 93 million (€10 million).
- Joan Miró's 'Sans Titre' (1947) sold for HKD 50.6 million (€6 million).
- Contemporary evening auction sold 41 of 43 lots, totaling HKD 770 million (€90 million).
- Yoshitomo Nara's 'In the Milky Lake' (2012) was top lot at HKD 100 million (€11.5 million).
- Yayoi Kusama's bronze 'Pumpkin (L)' (2014) set a new sculpture record at HKD 62.6 million (€7 million).
- Matthew Wong's 'River at Dusk' (2018) set a new auction record at HKD 52.3 million (€6 million).
- Loie Hollowell's 'Standing Red' (2019) sold for HKD 18 million (€2 million), far above estimate.
- Works by Lucy Bull, Louise Bonnet, and Christina Quarles sold above high estimates.
- Auctions coincided with Hong Kong Art Week and Art Basel Hong Kong 2023.
Entities
Artists
- Zhang Daqian
- Pablo Picasso
- Joan Miró
- Georges Mathieu
- Zao Wou-Ki
- Yayoi Kusama
- Yoshitomo Nara
- Matthew Wong
- Loie Hollowell
- Lucy Bull
- Louise Bonnet
- Christina Quarles
Institutions
- Sotheby's
- M+
- Louis Vuitton
- Phillips
- Art Basel Hong Kong
- West Kowloon Cultural District
Locations
- Hong Kong
- Asia