Auction Analysis: Hong Kong Modern and Contemporary Art Evening Sales – July 2020
|Report Type||Auction Analysis|
Hong Kong’s Evening Sales of Modern and Contemporary art defy the impact of Covid-19 with an increase of 1.1% from 2019
Hong Kong’s evening sales of Modern and Contemporary art this season raised a total of HK$2.059 billion against the total estimate of HK$1.69 billion to HK$2.30 billion. This was 1.1% higher than the total sales last Spring, and continues the positive trend established. Despite the Covid-19 crisis paralysing a large part of the global art market, recent auctions demonstrate confidence in the top-end of the market, and the increasingly important role of Asian collectors.
About this report:
This report presents an in-depth analysis of Modern and Contemporary art Evening sales at Christie’s, Sotheby’s and Phillips in Hong Kong, and provides a comparison of auction trends between the three auction houses. The analysis also provides analytical tools looking at annual trends between 2015 and 2019.
Who is it for?
This report is popular among dealers, auction houses and collectors, who want to get an in-depth understanding of the market trends in the Modern and Contemporary art auction market, and are looking for an analysis of the comparative performance between Christie’s, Sotheby’s and Phillips in 2019.
French-Chinese artists dominate the season: Zao Wou-Ki raised HK$522.7 million, Sanyu HK$425.0 million and Chu Teh-Chun a further HK$113 million – the three artists accounted for 51.5% of the total evening sales.
Sotheby’s retains its leading market share: Sotheby’s market share was 58.3% this season, ahead of Christie’s market share of 33.7%, and Phillips with its increased market share of 8.0%.
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Comparable Performance: Modern and Contemporary art auction sales performance comparison between Christie’s, Sotheby’s and Phillips in Hong Kong including: Total sales vs Estimates and Average Prices
Auction Lot Details: Details on the full auction including: hammer prices, guarantees, bought-in lots and winning paddle numbers.
Auction Overview: Top selling artist by value and numbers and a breakdown by type of Auction Bids.
Top 10 Prices: Ranking by the highest prices achieved and by top price-to-estimate performance.
Auction Guarantee Analysis: Auction guarantee breakdown and analysis for Christie’s, Sotheby’s and Phillips.