Young Artists Drive Asian Auction Market in Hong Kong

Hong Kong has emerged as a leading hub for contemporary art, with young artists driving sales despite pandemic uncertainties. At Christie's Hong Kong 20th & 21st Century Art Evening Sale on May 24, 2021, top lots included Jean-Michel Basquiat's Untitled (One Eyed Man or Xerox Face) at HK$ 234,290,000 and Zhang Daqian's Temple at the Mountain Peak at HK$ 209,100,000. Works by emerging artists like Loie Hollowell, Genieve Figgis, and Julie Curtiss sold far above estimates. On June 8, 2021, Phillips in collaboration with Poly Auction achieved a white-glove sale, setting records for Salman Toor, Emily Mae Smith, Loie Hollowell, and Jadè Fadojutimi. Gerhard Richter's Abstraktes Bild (940-7) sold for HK$ 95,100,000, and Yoshimoto Nara's Missing in Action reached HK$ 123,725,000. The trend confirms strong Asian collector interest in both established and emerging artists.