Big bids in Hong Kong
SUCCESSFUL: TOTAL SALES OF R6BN, INCLUDING PRIVATE ONES
The season saw robust performances in nine special sales with bidding from around the world.
The Poly Auction Hong Kong Spring Auctions 2024 successfully concluded at the Grand Hyatt Hotel in Hong Kong on Wednesday. It achieved a total sales amount of HKD292 million (about R5 billion) with a total sale of nearly HKD330 million including private sales.
This season saw robust performances in nine special sales with unprecedented enthusiasm from collectors and strong bidding activities.
Among them, four highly anticipated special themed sales achieved high prices of over HKD10 million for three highlight lots.
In the modern and contemporary art category, Yayoi Kusama’s Red Pumpkin led the sale with a price of HKD18 million. The Chinese paintings and calligraphy category also concluded successfully with Zhang Daqian’s Misty Clouds at Mount Ali, created when the artist was 82, taking the top spot with a sales amount of HKD10.8 million.
Another leading lot in this category, Gu Yanshou’s Calligraphy in Regular Script, sparked intense bidding and sold for HKD9.72 million. Wang Hui’s Snowy Landscape, featuring brushwork of the Yuan Dynasty and the style of the Song Dynasty, achieved a sales amount of HKD2.496 million. The spring auction also introduced a special sale in which Dong Qichang’s Calligraphy in Running Script sold for HKD2.16 million, far exceeding the high pre-auction estimate.
From the Magnificent Jewels sale, the leading lot, a 5.02-carat fancy pink diamond and diamond ring, sold for HKD13.2 million.
In the Important Watches sale, an exceptionally fine and rare white gold Patek Philippe Nautilus perpetual calendar wristwatch reached the top of the sale with a price of HKD1.74 million.
The Noble Handbags & Hype Collectibles sale also achieved solid results, the most sought-after item being the Limited-Edition Hermès Mauve Sylvestre, Chai, Nata & Lime Epsom Leather Kellydole Picto with Palladium Hardware, selling for over HKD450 000.
The mobile App and online bidding system of this auction witnessed enthusiastic bidding activities from collectors around the world, including Southeast Asia, the Middle East, Japan, Korea, the UK and the US.
Poly Auction Hong Kong’s modern and contemporary art sale this spring achieved a strong sell-through rate of approximately 92% by lot. Works by some of today’s most popular international contemporary artists, 20th-century masters and a well-curated line-up of Chinese contemporary artists achieved outstanding results.
Red Pumpkin exceeded its high estimate by two times and claimed the highest sales record in this category. It is known for captivating viewers with its anthropomorphic characteristics: the vibrant fruit adorned with Kusama’s signature polka dots creates a sense of rhythm.
Yoshitomo Nara’s milestone Cup Kids, created using fibreglass-reinforced plastic, sold for HKD7.08 million.
Léonard Tsuguharu Foujita’s Roses in a Vase, created in 1952, achieved an impressive HKD3.84 million. Featuring an array of flowers set against the artist’s characteristic milkywhite background, Foujita portrays a moving story of life from bud to full bloom that resonated with collectors.
This sale also showcased classic and representative works of Chinese contemporary artists, achieving a sell-through rate of 91.7%.
Highlights of the auction included Zhang Enli’s The Forest (2) and Huang Yuxing’s Welcoming Pine, both of which achieved an impressive HKD3.6 million and HKD3.06 million, respectively.
There were other remarkable sales such as Izumi Kato’s Untitled,
which sold for HKD720 000, three times its high estimate, and Sha Qi’s Emerald Beauty of Spring, which sold for around six times its high estimate, fetching HKD2.28 million.
In the Chinese ceramics and works of art category, the highly anticipated single-owner Stellar Effulgence: The Wang Xing Lou Collection of Imperial Qing Dynasty Porcelain, achieved a total sale of HKD37.02 million.
The leading piece, a magnificent carved celadon-glazed “archaistic” vase, Qianlong mark and of the period, fetched HKD24 million.
This is also the highest sold price in the ceramics and works of art category in Hong Kong’s auction market in April.
A Qianlong mark and period blue-and-white porcelain “archaistic” hu-form vase and cover with “lotus scroll and eight Buddhist emblems” design sold for HKD5.4 million.
The sale also saw several items far exceeding their estimated values. A pair of Kangxi mark and period eggshell whiteglazed “gold-rim” wine cups, after an intense bidding war lasting 11 minutes, sold for HKD2.76 million – surpassing four times the low estimate.
Similarly, a Yongzheng mark and period Ge-type pear-shaped vase sold for HKD2.7 million, exceeding three times the low estimate.
The Important Chinese Works of Art sale featured three top-selling lots in the categories of lacquerware, cloisonné and porcelain.
The highest transaction was achieved by a rare and important cinnabar lacquer “grapes” dish carved in high relief from the Yuan dynasty, which sold for HKD11.4 million, claiming the top spot in this sale. Its unusual begonia form is rarely seen on Yuan Dynasty lacquer dishes.
The dish features a double-layered carving of intertwining grape motifs and exhibits a style that predates the Yongle carved cinnabar lacquer “grapes” dish in the collection of the Palace Museum, making it exceptionally rare.
Other notable lots included a large and impressive cloisonné enamel “dragon” vase, tianqiuping, from the Yongzheng/Qianlong period, which achieved a sold price of HKD6.48 million, while a rare small famille-rose green-ground moon flask, Qianlong mark and of the period, sold for HKD2.88 million.
In the sale, Ethereal Attainment: Floral, Tea and Religious Artistic Treasures, an important archaic bronze ritual wine vessel, zun, from the late Shang to early Western Zhou dynasty took the lead and set a remarkable record of HKD12 million.
This piece, accompanied by well-documented provenance and literature, encapsulates the spiritual essence of bronze ritual vessels from the Shang and Zhou dynasties.
An extremely rare and fine famille-rose “peony” vase with imperial inscription from the Qianlong period sold for HKD6.36 million.
A pair of sacrificial blueglazed and gilt-decorated famille-rose “birds and flowers” vases fetched over seven times the low estimate, achieving HKD2.16 million after multiple rounds of intense bidding.
Lastly, in the Selected Chinese Works of Art from the TenViews Lingbi Rock Retreat Collection sale, a ruby-pink glazed chrysanthemum dish from the Yongzheng period achieved an impressive result of HKD3 million, which equals three times the low estimate.