The July auctions of contemporary art and design Phillips in Hong Kong have brought $35 million
ARTinvestment.RU   10 июля 2020

This is the sum total of the evening and day auctions held on 9 July. This is the best result in the history of the auction house Phillips in Hong Kong

8 and 9 July auction house Phillips spent the evening and day auctions 20th Century & Contemporary Art & Design in Hong Kong. In the course of two auctions has sold 150 of 161 exhibited in the two catalogues of the lots and the total revenue amounted to more than $35 million (272 million HKD), 10% exceeding the result of the same auction last year.

the auction Catalog of the 20th Century & Contemporary Art & Design Day Sale was sold 94% in new hands took 130 of 139 lots. The total auction revenue was $9,36 million (72.6 million HKD) — is a record result for the day auction of contemporary art in history auction house in Asia. In addition, on the day the auction was delivered from six individual price records for works by contemporary artists. Top-лотом day on 9 July was "a Girl!" (Girl!) Chinese artist Liu ye sold for $1 million (HKD 7.8 million), almost twice above the upper estimate.

during the evening auction held on 8 July 2020, the buyers acquired 20 of the 22 lots in the auction catalogue, which cost its new owners $25.7 million (199,45 million HKD). While most of the proceeds that evening amount to the organizers of the auction, brought the sale of two works by the artist Zhao Uji (his work on a recent the auction Sotheby's in Hong Kong brought $41 million). Both works Chinese-французского artist — composition "22.6.63" and "24.10.63" from his famous series "Hurricanes" — were bought by one bidder in a total of over HKD 100 million ($12.9 million).

According to information in the media, in a bid for the work "22.6.63", which started with 26 million HKD ($3.38 million) participated from three clients of the auction house: two participants in the room and one — on the phone, and its telephone rates gave the auctioneer the head of online-продаж Phillips Asia Delissa Handoko. The fight for the lot was one of the longest and most dramatic fights of the evening: first, the participants pretty fast pace has reached the amount of 32 million HKD, and then, reducing the step up to 1 million HKD for 8 minutes, which was done in 14 steps, reached a hammer price of HKD 54.3 million ($7 million), for which the painting was given to the participant in the room.

the battle for the second artist's work came not so tense: per lot traded online-участник from Taiwan and a customer in the hall, bought in the end, the song "24.10.63" for 46,36 million HKD ($5.98 million) from 28 million HKD start. It is known that both works come from the gallery Kootz Gallery and prior to the sale at auction of Phillips changed owners only three times, the last 57 years spent in the possession of one collector.

Despite the impressive results of Phillips in Hong Kong, we have reason to wait for new price records in the segment of contemporary Asian art in the near future: July 10 his evening auction contemporary art in Hong Kong will hold the auction house Christie's.

the Material was prepared by Maria Kuznetsova AI

Sources: phillips.com, en.thevalue.com