Gerhard Richter portray turns into most costly western work ever offered at public sale in Asia

Gerhard Richter painting becomes most expensive western work ever sold at auction in Asia

Abstraktes Bild (649 – 2) by Gerhard Richter sells at Sotheby’s Hong Kong
© Sotheby’s

The continuing Covid-19 pandemic seems to have little impression on auctions in Asia as Sotheby’s delivered a HK$684.1m (US$88.2m) live-streamed up to date artwork night sale in Hong Kong final evening—the very best whole for a various-owner up to date artwork sale at Sotheby’s Asia.

The 34-lot public sale—which was 92% offered by lot—was topped by Gerhard Richter’s 1987 portray Abstraktes Bild (649-2), purchased by The Pola Museum of Artwork, a personal museum in Hakone, Japan, for HK$214.6m (US$29.2m). That’s practically double the pre-sale estimate and makes it the most costly western murals ever offered at an public sale in Asia.

Sotheby’s has been bringing increasingly more western artwork to its gross sales in Asia lately, this time accounting for half of the heaps offered—the largest proportion of western artwork featured at a Hong Kong night sale.

Marlene Dumas’s Die Baba (2)
Courtesy of Sotheby’s

Through the postponed Hong Kong spring public sale collection again in July, David Hockney’s 30 Sunflowers (1996) was the highest lot of Sotheby’s HK$595m (US$76.7m)up to date artwork night sale, promoting for HK$114.8m (US$14.8m). That implies that, following the sale of the Richter final evening, the highest 4 costs of western works ever offered in Asia have been realised at Sotheby’s auctions.

Final evening, six of the highest 10 heaps have been by western artists. Following Richter’s piece got here Banksy’s seven-metre wooden panel work Forgive Us Our Trespassing (2011) which made simply over HK$64m, greater than double the pre-sale estimate. In the meantime, Adrian Ghenie’s summary portray Lidless Eye (2016 – 2018) was offered for HK$54.9m (US$7m), the third most costly work.

Francis Bacon’s small portray Examine for a Portrait (1979), which made the artist’s public sale debut in Asia, was offered for greater than HK$37.6m, inside pre-sale estimates. It was additionally the primary time a piece by Marlene Dumas appeared in a sale in Asia, as Die Baba (2) (The Child (2)) (2005) offered for HK$24.3m, barely above the estimate.  

Liu Wei’s Banana (1995), which fetched HK$21.3m
Courtesy of Sotheby’s

Works from the veteran Hong Kong supplier Johnson Chang’s assortment of Chinese language up to date artwork have been additionally among the many high heaps, with Zhang Xiaogang’s triptych The Darkish Trilogy: Worry, Meditation, Sorrow (1989-1990) promoting for HK$54.9m, sharing the third high worth with Ghenie’s work. Nevertheless, one other work by Zhang, Bloodline-Massive Household: Household Portrait (1998) from his signature Bloodline collection, was not offered. Different works offered from this assortment included Zeng Fanzhi’s Masks Collection No.11 (1994), which was offered for HK$23.7m, and Liu Wei’s Banana (1995), which fetched HK$21.3m, greater than double the pre-sale estimates.

The sale additionally set one other artist report for Hong Kong’s Firenze Lai after July’s sale. Her portray, The Colleagues (2017), fetched HK$3m (US$410,790).

Final evening’s public sale was additionally the primary live-streamed sale from Hong Kong, with bidding through telephone banks from employees in London and New York. Whereas the employees sitting within the Hong Kong salesroom have been donning masks within the public sale home’s signature blue and separated by clear petitions, their counterparts in New York and London didn’t put on masks however stored a major distance from one another. In the meantime, Christie’s selected New York to carry its 20th-century sale final evening — learn extra about that right here.

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