Sotheby's HK Achieves Highest-Ever Sale Series by a Global Arts Business in Asia / Announces Ground-Breaking Series of Arts Events in Beijing in December 2013
AS SOTHEBY’S SALES REACH HIGH WATERMARK IN ASIA,
THE COMPANY ANNOUNCES
GROUND-BREAKING SERIES OF ARTS EVENTS IN BEIJING IN DECEMBER
SOTHEBY’S HONG KONG ACHIEVES HIGHEST-EVER SALE SERIES
BY A GLOBAL ARTS BUSINESS IN ASIA
FIVE-DAY AUTUMN SALE SERIES (4 TO 8 OCTOBER 2013) REALISES
HK$4.196 BILLION / US$538 MILLION
3,162 LOTS SOLD IN FIVE DAYS
SOTHEBY’S ANNOUNCES A MAJOR AUCTION OF
MODERN & CONTEMPORARY CHINESE ART IN BEIJING,
SELLING EXHIBITIONS, EDUCATIONAL PROGRAMME
FROM 28 NOVEMBER - 1 DECEMBER 2013
SEMINAL WORK BY ZAO WOU-KI
FROM THE COLLECTION OF THE ART INSTITUTE OF CHICAGO
TO LEAD SOTHEBY’S AUCTION IN BEIJING
Today brought the curtain down on a remarkable five-day run of 16 record-breaking auctions staged by Sotheby’s in Hong Kong, with numerous new benchmarks set in many categories. Together they realised HK$4.196 billion / US$538 million, the highest grand total ever achieved by any global arts business operating in Asia.
In the wake of these exceptional results, Sotheby’s today unveils the top lot from its December sale in Beijing, the company’s second auction in mainland China. Estimated at RMB 35 – 45 million / US$5.7 – 7.3 million, and consigned to sale by a prestigious American institution, Abstraction by Zao Wou-Ki comes to the market as demand for the artist’s work is at an all-time high (Sotheby’s set a new record of US$10.9 million just two days ago in Hong Kong).
Highest-Ever Sale Series by a Global Arts Business in Asia
World Auction Record For Contemporary Asian Art World Record For A Work By A Living Chinese Artist
Zeng Fanzhi’s The Last Supper
Sold for HK$180.44 million / US$23.1 million
World Auction Record For A White Diamond
A 118.28-Carat Oval D-Colour Flawless Diamond Achieves HK$238.68 Million / US$30.6 Million
World Auction Record For A Chinese Sculpture
A Massive Ming Gilt-Bronze Figure Of A Seated Shakyamuni Buddha Sold For HK$236.44 Million / US$30.3 Million
Patti Wong, Chairman of Sotheby’s Asia, said: “With these, our 40th Anniversary sales in Hong Kong, we’ve taken the pulse of the Asian art market – it’s racing, and we are racing with it. Sotheby’s Hong Kong Autumn 2013 sale season demonstrates the importance of Hong Kong as an international selling centre: we sourced exceptional properties from 44 countries and worldwide bidding was evident as clients from 41 countries participated. Our reach extends in Asia with around 15% of the clients who participated in this sale series new to Sotheby’s.
“In our Hong Kong sale rooms these last few days, countless records have tumbled, sale after sale has made more than any previous auction of its kind, and now – with a final total of HK$4.196 billion / US$538 million – we’ve reached a high watermark for auctions in Asia. From this vantage point, we now look with a keen eye towards Beijing, the capital of China and centre of its art market, where our December auction will be led by a rare work by Zao Wou-ki consigned by an important American institution.”
Sotheby’s Brings Major Series of Arts Events to Beijing
Speaking of Sotheby’s Beijing, Kevin Ching, Chief Executive Officer of Sotheby’s Asia, said: “Taking full advantage of the vibrant arts scene in the capital of China, Sotheby’s is delighted to announce our plans to mount an exciting and comprehensive series of arts events in Beijing that we have tailored to appeal to both new and established Chinese collectors and our clients. Timed to the height of Beijing’s prime sales season, these will commence on 28 November with selling exhibitions and an educational programme and will culminate in a major auction of Modern & Contemporary Chinese Art on 1 December. Continuing Sotheby’s tradition of bringing great works of art to market, the sale will be led by Abstraction, a 1958 painting by Zao Wou-ki, one of the leading Chinese artists of his generation. The work (separate release available), which has a pre-sale estimate of RMB35 - 45 million / US$5.7 – 7.3 million, comes from the collection of the Art Institute of Chicago, one of the foremost museums in the United States. There is no question that such an important work from a key period in the artist’s oeuvre and with a particularly distinguished provenance will generate immense interest among discerning collectors worldwide. The December auction, Sotheby’s second in the capital city of China, will be the culmination of the Company’s celebration of its 40thAnniversary in Asia.”
Sotheby’s Commitment to Beijing
Mr. Ching continued: “Sotheby’s commitment to Beijing arises from the capital’s pre-eminence as the arts centre of China: four of the top five auction houses are located in Beijing; virtually all of the top Chinese artists and the vast majority of leading art galleries are Beijing-based.”
Sotheby’s Beijing
Modern & Contemporary Chinese Art
Auction 1 December 2013
From the Collection of the Art Institute of Chicago
Zao Wou-ki
Abstraction
Estimate RMB 35 – 45 million / US$5.7 – 7.3 million
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