Christie's Hong Kong set a new milestone for auction history in Asia with the Asian Art, Jewellery and Watches Autumn Auctions held from 26 to 30 November achieving a staggering sale total of over HK$1.64 billion, with a 61% market share. This is the highest total ever achieved in a sales season in Asia, with numerous world auction records falling over the five-day auction series.
Intense and competitive bidding was present throughout the sales in all categories in a packed saleroom at the Hong Kong Convention and Exhibition Centre. Buyers from around the world vied on location and on the telephone for the exceptional pieces offered, driving the prices of many lots far above pre-sale estimates.
Edward Dolman, Chief Executive Officer of Christie's International, said: "Another record-breaking series of sales at Christie's Hong Kong showed the growing strength in Asia of the demand for works of art of the highest quality. The historic sales saw world auction record prices for any work of art in Asia and an Asian oil painting and a contemporary Chinese painting. The sales of 20th Century Chinese Art and Asian Contemporary Art were the highest ever anywhere in the world. The sales total of over HK$1.64 billion (US$210 million) was also the highest total achieved in a sales season in Asia. I am delighted that Christie's continue to be the market leader in Asia and we look forward to investing further in the region to build on this success."
The Asian art sales achieved an overall total of HK$1.27 billion (US$163 million), a 50% increase on the Spring season and 60% year-on-year. This also marks a new record total for any series of Asian art auctions held anywhere in the world.
In the sale of Jade Shears and Shimmering Feathers - Imperial Chinese Ceramics from the Robert Chang Collection, a highly important Imperial famille rose "swallows" bowl of the Qianlong period (1736-1795) sold to Dr. Alice Cheng, the original seller's sister, for an astonishing US$19,671,600. This is the highest price ever achieved for a work of art at auction in Asia, as well as a new world auction record for any Chinese art piece. The finely potted bowl is enameled on the exterior in two shades of pink, yellow, green brown and black while graceful swallows swoop beside a flowering apricot tree. It is the only existing example in private hands with its twin housed at the Percival David Foundation in London.
The star lot of the sale of Important Chinese Jades from the Personal Collection of Alan and Simone Hartman was an extremely rare Imperial white jade libation cup of the Qianlong period, fetched US$1,471,600, a world auction record for a white jade cup. The exterior is intricately carved and depicts a landscape scene from Suzhou in central China. Its finish makes it a breathtaking masterpiece exemplifying the highest level of artistry achieved by Imperial lapidaries of the 18th Century.
These two sales, together with the Important Chinese Ceramics & Works of Art auction, realized a total of US$70,297,915, the highest total ever achieved at Christie's auction houses worldwide in this sales category.
The 20th Century Chinese Art sale and the Asian Contemporary Art sale jointly amounted to HK$522,912,000/ US$67,978,560, the highest total ever achieved anywhere in the world for both categories. Taking centre-stage was Slave and Lion by Xu Beihong (1895-1953) that sold for HK$53,880,000(US$7,004,400) after furious bidding, far exceeding the world auction record for any Asian oil painting. A rare work, Slave and Lion dates from the artist's stay in Berlin in the early 1920s. It demonstrates Xu's grasp of historical subjects and Western literary references, and its seamless blending of Western and Eastern influences offers a new perspective on the development of modern Chinese art.
Christie's Hong Kong achieved a grand total of over HK$2.84 billion (US$364 million) for its 2006 Spring and Autumn auctions, the highest annual sales total set by any auction house in Asia.
(CRI.com December 4, 2006)