798 District Blog

Sotheby’s Hong Kong Autumn Sales 2010 will be held at Hall 3, Hong Kong Convention and Exhibition Centre from 2 to 8 October 2010. The sale series will offer over 3,200 lots of Modern and Contemporary Asian Art, traditional Chinese paintings, fine Chinese ceramics and works of art as well as jewellery, watches and wine with a total estimate in excess of HK$1.6 billion / US$205 million.

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Sotheby’s sold an Edouard Manet self-portrait for 22.4 million pounds ($33.1 million) on Tuesday, a record for the artist but toward the lower end of pre-sale expectations of 20-30 million pounds.

The painting, one of only two self-portraits by the artist and the only one in private hands, was the centerpiece of the auctioneer’s main impressionist and modern art sale in London this summer.

Overall the auction fetched 112.1 million pounds, within expectations of 101-148 million pounds, although the sale tally included buyer’s premium while the estimate did not.

Three works of art sold for eight figures — Manet’s “Self Portrait With a Palette, Andre Derain’s “Arbres a Collioure, which sold for 16.3 million pounds, double the previous record for the artist, and Henri Matisse’s “Odalisques jouant aux dames” (11.8 million pounds).

Sotheby’s said the results were “strong,” although the auction total was smaller than the equivalent sale in London in February which raised 146.8 million pounds.

Alberto Giacometti’s “L’homme qui marche I” sold for 65 million pounds, which was then a world record for any work of art at auction.

Christie’s, Sotheby’s main rival, holds its main sale on Wednesday, and expects to sell art worth 164-231 million pounds. If it makes even the lower end of the target, it would set a record for an art sale in London.

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HONG KONG.- The Christie’s Hong Kong completed its Day and Evening Sales of Asian Contemporary Art and Chinese 20th Century Art on May 30th, 2010. Together with the ground-breaking 100% sell-through Evening Sale that totalled HK$303 million/US$39 million, the combined total of the Day and Evening Sales recorded a total of HK$523.4 million / US$67.2 million, an increase of 85% from Spring 2009 that nearly doubled our nearest international competitor.

Eric Chang, Christie’s International Director of Asia Contemporary Art and Chinese 20th Century Art, commented, “The momentum of the 100% sell-through Evening Sale the night before carried us into the highly successful Day Sales that began in the early afternoon and lasted late into the night. Together with the Evening Sale total of HK$303 million/US$39 million, the combined total of HK$523.4 million / US$67.2 million marks a 85% over our Spring 2009 results and doubling that of our nearest international competitor.

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Sotheby’s Hong Kong will hold its Contemporary Asian Art Spring Sale 2010 on 5 April at the Hong Kong Convention and Exhibition Centre.
This season’s sale will offer a series of early works by established Chinese artists that are rarely seen on the market, as well as seminal works from prominent Japanese and Korean artists.
There will be over 170 extraordinary pieces, with a total estimate in excess of HK$94 million / US$12 million.

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This week’s auctions of contemporary art in New York saw the market take a distinct upswing, with energetic sales culminating in an astonishing $43.8m given at Sotheby’s for a rare silk-screen painting by Andy Warhol.

“This was an unbelievably strong sale,” said New York dealer Christophe Van de Weghe on Wednesday night. “People just wanted to spend money tonight, they were tired of holding back.”

The auction house had just raised $134.4m in its 54-lot sale, well ahead of its high estimate of $97.7m (presale estimates do not include commissions; results do). Only two lots failed to find buyers.

Read more at ft.com