Hong Kong Modern & Contemporary Art Auctions Analysis: 2016-2019
- Analyst: Lindsay Dewar
- Pages: 30
- Access: Analyst Pro
2019 was a record year for Hong Kong Modern and Contemporary art sales: The strong tailwinds in Hong Kong’s Modern and Contemporary evening sales at Christie’s, Sotheby’s and Phillips over the last 3 years, allowed auction sales totals to rocket, with a 52.7% year-on-year increase, accounting for $534.95 million.
Chinese artists continue to dominate the evening sales: Chinese artists (including artists that were born in China, but later moved to another country) accounted for 66.6% of sales value in 2019, up from 56.7% in 2018. Other Asian artists were responsible for 22.5% of the sales in 2019, followed by 15.7% of international artists.
Increasing demand for International (Western) artists: Since 2016, the Hong Kong auction market has seen a four-fold increase in demand for international (non-Asian) artists, with sales value increasing from $16.3 million in 2016 to $83.7 million in 2019. The new peak in 2019, saw a record 104 international lots on offer.
The 2nd edition of this ArtTactic report provides a unique insight into Modern and Contemporary artworks sold at auctions in Hong Kong at Sotheby’s, Christie’s and Phillips from 2016 to 2019. Over 1,480 lots and around 330 artists were analysed, across Modern and Contemporary evening sales. This report provides a unique insight into the auction market for Modern and Contemporary art by Chinese, Asian and International artists in Hong Kong.
ArtTactic also offers bespoke reports on the Hong Kong auction market. For further information please contact us on info@arttactic.com.