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Christie's Hong Kong - Chinese Contemporary Ink Auction Analysis

  • christie's hong kong auction analysis
  • christie's hong kong auction analysis
June 2, 2015

On the first day of June we have witnessed a very successful auction at Christie’s Hong Kong titled Chinese Contemporary Ink. Out of 49 lots offered at the auction, a great number of 43 were sold, gathering  $2.793.287 topping the total sum of high estimates for $100.000 or 3.7 percent. The highlight of Christie’s Hong Kong – Chinese Contemporary Ink Auction was certainly Lui Kwan Shou and his Sketch of Hong Kong which was sold for the highest hammer price of $361.049 achieving hammer high estimate difference od 600 percent. His Lotus achieved the second highest hammer high estimate difference of 500 percent as well.

The Tradition of Ink In China

For more than two millennia, ink has been the principal medium of painting and calligraphy in China. Since the early twentieth century, however, the primacy of the ink art tradition has increasingly been challenged by new media and practices introduced from the West. Over the past one thousand years, landscape imagery in China has evolved beyond formal and aesthetic considerations into a complex symbolic program used to convey values and moral standards. At times of political turmoil, images of blasted pine trees, windblown bamboo, or rustic retreats conveyed notions of survival, endurance, and withdrawal from the world. Today, as China is transformed by modernization, artists continue to mine the symbolic potential of landscape imagery to comment on the changing face of China and to explore the mind landscape of the individual.

  • christie's hong kong auction analysis

Christie's Hong Kong - Chinese Contemporary Ink Auction Analysis In Details

Please, scroll down to find out more about each lot that was auctioned at Christie’s Hong Kong – Chinese Contemporary Ink Auction – find out their estimated values, hammer prices and find out which lots weren’t sold.

Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
901 Lui Shou Kwan (Lu Shoukun, 1919-1975) Lotus 7,73710,31661,894500700
902 Lui Shou Kwan (Lu Shoukun, 1919-1975) Landscape 12,89519,34236,10586.7180
903 Lui Shou Kwan (Lu Shoukun, 1919-1975) Sketch of Hong Kong - Aberdeen 38,68451,578361,049600833.3
904 Liu Kuo-Sung (Liu Guosong, B. 1932) Spring Fantasy 51,57864,47379,9472455
905 Liu Kuo-Sung (Liu Guosong, B. 1932) Windy Solitude 45,13158,02690,26255.6100
906 Zeng Xiaojun (B. 1954) Tree in Winter 23,21028,368Not SoldNot SoldNot Sold
907 Lian Liang (B. 1958) Bamboo, Rock and Bird 10,31615,47415,474050
908 Lee Chun-Yi (Li Junyi, B. 1965) One Flower One World 28,36836,10530,947-14.39.1
909 Yang Jiechang (B. 1956) These Are Still Flowers 1912-2012 51,57877,36848,999-36.7-5
910 Lee Chun-Yi (Li Junyi, B. 1965) Winter Landscape 5,1587,7375,416-305
911 Wucius Wong (Wang Wuxie, B. 1936) Superimposed Memories #7 7,73710,31611,60512.550
912 Li Xubai (B. 1940) Spring Streams in Mist and Rain 9,02611,6059,026-22.20
913 Wang Dongling (B. 1945) Libai Shi 7,73711,6057,737-33.30
914 Tai Xiangzhou (B. 1968) Scholar's Rock 25,78938,68433,526-13.330
915 Li Huayi (B. 1948) Snow-covered Mountains 283,681412,627257,892-37.5-9.1
916 Jia Youfu (B. 1942) Taihang Mountains in Autumn 38,68451,57838,684-250
917 Jia Youfu (B. 1942) Return from Herding 30,94741,26354,15731.275
918 Koo Mei (Gu Mei, B. 1929) Mountain in the Mist 5,1587,73728,368266.7450
919 Yu Chengyao (1898-1993) Lofty Mountain Embraced by Trees 15,47419,34215,474-200
920 Wang Jiqian (C. C. Wang, 1907-2003) Rocky Landscape 10,31614,18410,316-27.30
921 Liu Kuo-Sung (Liu Guosong, B. 1932) Moldering Mosaic 51,57877,36877,368050
922 Liu Kuo-Sung (Liu Guosong, B. 1932) Heaven at Your Fingertips 90,262128,946206,31460128.6
923 Liu Kuo-Sung (Liu Guosong, B. 1932) The Composition of Distance C 90,262116,051206,31477.8128.6
924 Liu Kuo-Sung (Liu Guosong, B. 1932) Dawn 51,578103,157116,05112.5125
926 Wang Tiande (B. 1960) HouShan No 14-HLST092 30,94738,68433,526-13.38.3
927 Li Xubai (B. 1940) Enchanting Green Mountains 9,02611,60516,76344.485.7
928 Li Xubai (B. 1940) Listening to the Spring 1,9343,2241,934-400
929 Tai Xiangzhou (B. 1968) Celestial No 15 15,47423,21036,10555.6133.3
930 Wu Yi (B. 1966) Tete-a-Tete 6,44710,316Not SoldNot SoldNot Sold
931 Ai Xuan (B. 1947) Winter Snow 64,47390,262128,94642.9100
932 Tian Liming (B. 1955) Clear River 64,47390,26264,473-28.60
933 Qin Feng (B. 1961) Desire Scenery No 9833 103,157154,735103,157-33.30
934 Qiu Zhijie (B. 1969) A Blessed Child 45,13158,02645,131-22.20
935 Yang Jiechang (B. 1956) Everything is OK 30,94738,684Not SoldNot SoldNot Sold
936 Zheng Chongbin (B. 1961) Untitled No 18 12,89515,4749,026-41.7-30
937 Gao Xingjian (B. 1940) At the End of the Day 33,52645,13125,789-42.9-23.1
938 Wang Dongling (B. 1945) Wind 20,63128,368Not SoldNot SoldNot Sold
939 Qin Feng (B. 1961) Desire Scenery No 1382 41,26351,57851,578025
940 Qin Feng (B. 1961) Desire Scenery No 1514 257,892386,838232,103-40-10
941 Leung Kui Ting (Liang Juting, B. 1945) Ultimate Vision 19,34232,237Not SoldNot SoldNot Sold
942 Wang Dongling (B. 1945) Like Water 36,10545,13148,9998.635.7
943 Leung Kui Ting (Liang Juting, B. 1945) Composite Assemblage 15,47423,210Not SoldNot SoldNot Sold
944 Wucius Wong (Wang Wuxie, B. 1936) Purification #7 25,78938,68445,13116.775
945 Li Fuyuan (B. 1942) Eight Owls 3,2244,5134,126-8.628
946 Koon Wai Bong (Guan Weibang, B. 1974) Glistering as Stars 15,47423,21015,474-33.30
947 Shen Qin (B. 1958) Blue - Landscape 12,89519,34214,184-26.710
948 Irene Chou (Zhou Luyun, 1924-2011) The Universe Lies Within 7,73710,31645,131337.5483.3
949 Wong Hau Kwei (Huang Xiaokui, B. 1946) Congestion Night 10,31612,89510,960-156.2
950 Fang Zhaolin (1914-2006) Cave Dwellings 19,34225,78958,026125200
TOTAL:1,896,7982,694,9742,793,4873.747.3
TOTAL (Sold lots):1,780,7472,533,7912,793,48710.256.9
INDEXRESULT
Total number of lots:49
Number of sold lots:43
Sold lots [%]:87.8
Total [$]:2,793,487
Number of sold lots over high estimate:18
Over high estimate (Total) [%]:36.7
Over high estimate (Sold) [%]:41.9
Number of sold lots in range of estimated values:20
In range of estimated values (Sold) [%]:46.5
Number of sold lots under low estimate:5
Under low estimate (Sold) [%]:11.6
Results were under estimate spread of [%]:29.6
Max Hammer [$]:361,049
Average Hammer [$]:64,965
Median Hammer [$]:38,684
Median Hammer Average Hammer Difference [%]:-40.5

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All images are courtesy of Christie’s Honk Kong.

  • christie's hong kong auction analysis

The Overview Of Christie's Hong Kong - Chinese Contemporary Ink Auction

As we already mentioned, Christie’s Hong Kong – Chinese Contemporary Ink Auction is considered to be a successful one with 87.8 of total lots sold. A stunning percentage of 41.9 percent of sold lots, more precisely 18 of those, changed their owners for the hammer price larger than the high estimate, as opposed to 5 lots, or 11.6 percent, being sold for the price smaller than the low estimate. Twenty lots, or 46.5 percent of lots, were sold in range of estimated value. The highest hammer price was seen in the sale of previously mentioned Lui Shou Kwan’s work Sketch of Hong Kong which was sold for $361,049. Average hammer price at this auction was $64,965. Hammer price median was $38.684 (this means that the same number of lots were sold for more than $38.684 and for less than $38.684). The difference between average hammer price and median was -40.5 percent, which means that almost the same number of lots were sold bellow this auction’s average price as above it.

Other notable results seen at Christie’s Hong Kong – Chinese Contemporary Ink Auction: the second highest hammer price was achieved in the sale of lot 915 – Li Huayi’s Snow Covered Mountains which was sold for $257.892. Besides high hammer differences of 600 percent and 500 percent achieved in the sales of Lui Shou Kwan’s artworks, great differences were seen in the sales of Fang Zhaolin’s Cave Dwellings with 125 percent and Irene Chou’s The Universe Lies Within with 337.5 percent.

Scroll down to see the best and the worst performing lots of Christie’s Hong Kong – Chinese Contemporary Ink Auction.

christie's hong kong auction analysis
Left: Lui Shou Kwan – Lotus, 1965, (lot 901) Estimated from $7.737 to $10.316 and sold for $61.894 with an amazing 500 percent hammer high estimate difference. / Right: Yang Jiechang – These Are Still Flowers, 2012, (lot 909) Estimated from $51.578 to $77.368. This lot failed to meet low hammer estimate for only 5 percent with the final price of $48.999.
christie's hong kong auction analysis
Lui Shou Kwan – Sketch of Hong Kong, 1963, (lot 903) Estimated from $38.684 to $51.578. With the final price of $361.049 this lot was absolute highlight of the auction, at the same time achieving the highest price and scoring hammer high estimate difference of a stunning 600 percent.
christie's hong kong auction analysis
Left: Fang Zhaolin – Cave Dwellings, 1985, (lot 950) Estimated from $19.342 to $25.789 and sold for $58.026. Hammer high estimate difference of 125 percent. / Right: Koo Mein – Mountain in the Mist, 1987, (lot 918) Estimated from $5.158 to $7.737. With the final price of $28.368, this lot scored amazing 266.7 percent over the high estimate.
christie's hong kong auction analysis
Gao Xingjian – At the End of the Day, 1997, (lot 937) Estimated from $33.526 to $45.131. With the hammer price of $25.789 it achieved a negative 23.1 percent of the hammer low estimate.
christie's hong kong auction analysis
Left: Irene Chou – The Universe Lies Within, 1998, (lot 948) Estimated from $7.737 to $10.316 and sold for $45.131. This lot topped the high hammer estimate for 337.5 percent. / Right: Li Huayi – Snow Covered Mountains, (lot 915) Estimated from $283.681 to $412.627. Sold for $257.892. Although it achieved the second highest price of the auction, it had a negative score because it hammer price was 9.1 percent lower than the low hammer estimate.
christie's hong kong auction analysis
Zheng Chongbin – Untitled No 18, 2007, (lot 936) Estimated from $12.895 to $15.474. With the final price of $9.026 this lot scored negative 30 percent in comparison to the low hammer estimate.