Reflecting the importance of Hong Kong as an international art market hub, Sotheby’s will livestream its evening sale of contemporary art on Oct. 6 from London and New York, as well as a live auction in Hong Kong.
The 39-lot sale is expected to realize more than HK$455 million (US$58.8 million), the highest total for contemporary art sales ever staged in Asia, the auction house said Tuesday.
Sotheby’s introduced its contemporary art evening sale in 2017 in Hong Kong, split 50/50 between Western and Asian contemporary art. The auction house achieved a total of US$90 million for this category in 2019, and a seasonal total of US$51 million in July 2020, despite the impact of Covid-19 pandemic.
Livestreaming the event will make it easier for collectors around the globe to participate. During the July sale, more than a third of pieces offered were acquired by clients based outside Asia, Sotheby’s said.
Highlighting the sale is Abstraktes Bild (649-2) by Gerhard Richter,
with a presale estimate of HK$120 million to HK$140 million. Other major Western works include those by David Hockney, Adrian Ghenie, Francis Bacon, Marlene Dumas, and Ellsworth Kelly.
This sale “marks the most distinguished line-up of top-quality works by blue-chip international artists ever to come to auction in Asia,” Yuki Terase, head of contemporary art at Sotheby’s Asia, said in a statement.
Additionally, the sale features Asian masterpieces by Yayoi Kusama, Liu Ye, Kazuo Shiraga, and Takeo Yamaguchi
. Leading this group is Kusama’s 2011 painting, A-PUMPKIN-(CHA), which has a presale estimate of between HK$22 million and HK$32 million.