The Momentary - Bentonville, Arkansas - Feb 22, 2020

Sotheby's Six-Day Hong Kong Series Raises $411 Million

  • October 06, 2011 21:02

  • Email
A Ming dynasty porcelain vase sold for HK$167.8 million ($21.6 million) including buyer's premium, at a Sotheby's auction in Hong Kong.
Sotheby's

A week of auctions held by Sotheby's in Hong Kong netted a total of HK$3.2 billion ($411.3 million) with selective buyers competing to record levels for choice offerings of blue-chip art, rare gems, and Chinese ceramics.

The pre-sale estimate of HK$2.7 billion for the series total was soundly exceeded with a boost from a 6.01 carat blue diamond ring which sold for HK$79.1 million ($10 million), the highest price paid at auction per carat for such a stone.

Another heavy-hitter was a blue-and-white Ming dynasty vase, one of 32 lots of Imperial porcelain out of 40 works from the Meiyintang private collection that brought HK$560 million, well above an estimate of HK$430 million.

The hotly-contested vase doubled its estimate to fetch HK$167.8 million, a record price for a Ming piece at auction.

A HK$738.3 million sale of Chinese paintings, including fees, became the highest grossing Sotheby's sale in the category. Among the 364 lots, Zhang Daqian's “Self Portrait in Yellow Mountains” went for HK$46.6 million, nearly four times its high estimate. Works by Qi Bashi and Lin Fengmian also exceeded estimates while works by lesser known artists languished.

The wine sale fetched $12.7 million in total, including the eighth sale of the Classic Cellar of a Great American Collector, which sold-out at $3.5 million, below the pre-auction high estimate of $4 million. Wine prices have levelled out in Asia, say experts.

Unsold lots included a 9.27 carat pink diamond ring with a high estimate of HK$150 million.

Read more at Businessweek


  • Email

More News Feed Headlines

Sotheby’s set a new world auction record for any work of Impressionist art when Claude Monet’s iconic ‘Meules’ sold for $110.7 million in New York on May 14, 2019.

Top Execs to Exit Sotheby's in Latest Shake-Up

  • Page Six / December 4th, 2019

Several top executives at Sotheby's will be leaving, some voluntarily and some not, according to party buzz at the ...

Read More...
Rose and Thistle, furnishing fabric, William Morris, 1881, England.  Museum no.  T.634-1919.  © Victoria and Albert Museum, London

Pantone Color of the Year 2020 Is a Classic Blue Familiar in Art and Antiques

  • ArtfixDaily / December 4th, 2019

For 20 years, PANTONE has chosen a color that the company anticipates will be on trend for the year ahead. For 2020, ...

Read More...
A 1913 poster by Cornelia Cassady Davis for women’s suffrage, in "The Art of Protest."

A Well-Timed New Book Examines 'The Art of Protest'

  • ArtfixDaily / December 2nd, 2019

Protest art is in the spotlight, both on streets across the globe and in a new book surveying a 100-year history. ...

Read More...
EDWARD HOPPER, CAPE COD MORNING, 1950.  Oil on canvas, 86.7 x 102.3 cm.  Smithsonian American Art Museum, Gift of the Sara Roby Foundation © Heirs of Josephine Hopper / 2019, ProLitteris, Zurich Photo: Smithsonian American Art Museum, Gene Young

'Step Inside' Edward Hopper Artworks With 2 Kinds of 3-D Experiences in Museum Shows

  • ArtfixDaily / December 1st, 2019

Edward Hopper's seemingly stark and angst-y paintings of 20th-century America are hitting chords with audiences ...

Read More...

ARTFIXdaily Artwire