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Wednesday, Oct 28, 2020

Sotheby’s To Livestream Its Most Valuable Contemporary Art Evening Sale in Hong Kong

Sotheby’s To Livestream Its Most Valuable Contemporary Art Evening Sale in Hong Kong

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 Hong , 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.
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