Sotheby’s – Boundless: Contemporary Art Auction Analysis

June 12, 2015

Boundless: Contemporary Art Auction took place at Sotheby’s in Honk Kong, with amazing Eastern and Western contemporary works, and with iconic design furniture of the 20th century. Apart from presenting some great art, the auction was quite successful as well, with 81.9 percent of lots being sold, gathering more money than it was the sum of high estimates for sold items. The biggest hummer price had Keith Haring’s Untitled.

Keith Haring – People and Their Symbols

Keith Haring was a famous American artist and social activist who died in 1990. He left behind amazing art, while his imagery has become a widely recognized visual language of the 20th century. Being interested in themes such as death, sexuality, and war, he has always been intrigued by symbols that people use. Haring believed that all people use similar patterns of symbols, despite existing differences in languages and cultures. He was fascinated how people choose simple forms and shapes as their symbols to create a language. Therefore, it’s not surprising that he often used simple forms and shapes in his art, in order to represent all the complexities of humans’ world expressed through symbols.

The Overview of Sotheby’s – Boundless: Contemporary Art Auction

As already mentioned, Sotheby’s – Boundless: Contemporary Art Auction can be seen as a successful one, with 86 lots sold, or 81.9 percent of total number of lots offered at the auction. Thirty-three lots, or 31.4 percent were sold for a price larger than the high estimate, as opposed to 19 lots, or 22.1 percent, sold under the low estimate. Most of the lots, precisely 34, were sold in the range of estimated values. The highest hammer price was seen in the sale of previously mentioned Keith Haring’s Untitled, which was sold for $ 438,539. The average hammer price of these 86 sold lots was at $ 50,116. Hammer price median was $ 19,347, while the difference between average hammer price and median was -61.4 percent.

The second highest hammer price was seen in the sale of lot 1019 – Zao Wou-Ki’s 14.01.69 which was sold for $ 412,742. Keith Haring’s Dog was sold for $ 335,353. Speaking about the most successful lots, already mentioned Keith Haring’s Dog is a winner. It was sold with +246.7 percent difference between hammer price and high estimate, followed by Yuan Yuan’s Blue Iv and Yayoi Kusama’s Shoe, who achieved +185.7 and +128.6 percent difference. On the other hand, Shigeru Uchida’s Table Lamp and Daido Moriyama’s Yokosuka had two worst results, with -50.1 and -42.9 percent difference between hammer price and low estimate, respectively.

Sotheby’s – Boundless: Contemporary Art Auction Analysis
T'ang Haywen - Untitled (Lot 1015). Estimated at $12,898-$19,347; sold for $41,274

Sotheby’s – Boundless: Contemporary Art Auction Analysis
Lucio Fontana - Concetto Spaziale, Natura (Lot 1028). Estimated at $51,593-$77,389; sold for $141,880

Sotheby’s – Boundless: Contemporary Art Auction Analysis
Left: Andy Warhol - Mick Jagger (F&S II 138) (Lot 1034). Estimated at $29,666-$36,115; sold for $33,535 / Right: Keith Haring - Dog (Lot 1050). Estimated at $70,940-$96,737; sold for $335,353

Daido Moriyama - Stray Dog (Lot 1008). Estimated at $9,029-$11,608; sold for $10,963
Daido Moriyama - Stray Dog (Lot 1008). Estimated at $9,029-$11,608; sold for $10,963

Sotheby’s – Boundless: Contemporary Art Auction Analysis
Keith Haring - Untitled (Lot 1051). Estimated at $128,982-$193,473; sold for $438,

Sotheby’s – Boundless: Contemporary Art Auction in Details

Below you will find two tables with the summary of the Sotheby’s – Boundless: Contemporary Art auction and detailed information on every lot auctioned at this auction.

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Featured Images:

Zao Wou-Ki - Untitled (Lot 1020) [detail]

Marc Quinn - The Architecture of Nature (Lot 1032)

Image in Slider:

Yayoi Kusama - Pumpkin (Lot 1011) [detail]

All images courtesy of Sotheby's.

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