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Sotheby's: Contemporary Asian Art Auction Analysis

  • Sotheby's Hong Kong
  • Sotheby's Hong Kong
  • Sotheby's Hong Kong
  • Sotheby's Hong Kong
  • Sotheby's Hong Kong
April 7, 2015

First in series of auction of Chinese and Asian art that are on schedule this week was Contemporary Asian Art that was held at Sotheby’s Hong Kong on Sunday, April 5. According to this auction, this “Asian week” will be successful, as Contemporary Asian Art at Sotheby’s totaled $8.57 million on 159 sold lots. At the same time, some lots went just insane – in particular, one lot registered hammer price that was more than 10 times bigger than its high estimate.

Sotheby's Hong Kong
Zhang Enli – Untitled, 2012 (lot 732)

The Overview of Sotheby’s: Contemporary Asian Art

There were 200 lots auctioned at Contemporary Asian Art auction at Sotheby’s Hong Kong. As we said, 159 of them were sold, or 79.5 percent. Total of 58 lots were sold over high estimate (29 percent of total and 36.5 percent of sold lots). Statistically, the biggest percentage of lots was sold in range of estimated values, 79, or 49.7 percent, and 22 lots were sold under low estimate (13.8 percent of sold lots). Those $8.57 million that was gathered at Sotheby’s Hong Kong on Sunday were 5.6 percent lower than the sum of high estimates of sold lots ($9.07 million), but 43.8 percent higher than the sum of low estimates ($5.96 million).

Sotheby's Hong Kong
Gu Wenda – Exclamatory Word And Bound Human Innards Series – He! He! He! (triptych), 1986 (Lot 807)

The Best Individual Results at Sotheby’s: Contemporary Asian Art

Zeng Fanzhi’s Portrait had the biggest hammer price of the day, as it was sold for its low estimate, at $515,996. Chung Sanghwa’s Untitled 91-8-26 was estimated at $193,499 – $322,498, and was sold for almost $170,000 more, for $490,196 (with +52 percent difference between hammer price and high estimate). Liu Wei’s Purple Air was sold at its high estimate, for $386,997, and Zhang Enli’s Single changed hands for $322,498, which was its low estimate. Another Liu Wei’s artwork, Revolutionary Family Series was sold for $322,498, and Zeng Fanzhi’s Untitled went for $283,798, or with +22.2 percent on high estimate. Zhou Chunya’s Green Dog was sold for its low estimate, or $257,998, and another Zhang Enli’s work, Untitled, achieved price bigger than a quarter of a million – $257,998. Motonaga Sadamasa’s Untitled almost achieved its high estimate and was sold for $245,098, and then come two artworks by Yayoi KusamaInfinity Nets (2Bd), that was sold for its low estimate ($232,198), and Pumpkin (sold just under high estimate, for $219,298). The same price as Kusama’s Pumpkin had Xie Nanxing’s Untitled No.3 (+41.7 percent difference), and this was the last lot that was sold for more than $200,000. There were 12 more lots that were sold between $100,000 and $200,000 – three of those 12 were artworks by Yayoi Kusama, and two by Wang Guangyi. When it comes to the biggest difference between hammer price and high estimate, the clear winner was work Untitled by Yoshihara Jiro, that was estimated at $2,580 – $5,160, and was sold for almost 11 times more, for $54,180, or with +950 percent difference. Hasuwa Tomoko’s Super Hero was estimated at $4,515 – $7,095 and changed hands for $38,700 (+445.5 percent difference), Takashi Murakami’s Red Ball And Other (Six Works) was sold for $33,540, or with +420 percent difference, while Yangjiang Youth’s (I) Hidden Mystery In Peace (Ii) No.1 Gambling Queen In Asia (Two Works) was estimated at $2,580 – $3,870, and was sold for $19,350, or with +400 percent difference. There were six more lots that had more than 150 percent difference between their hammer prices and high estimates.

Sotheby's Hong Kong
Zeng Fanzhi – Untitled, 2004 (Lot 745)

The Unsold Ones at Sotheby’s: Contemporary Asian Art

Four of five priciest lots remained unsold on Sunday’s auction at Sotheby’s Hong Kong: Zhang Xiaogang’s Bloodline Series: Yellow Baby (estimated at $515,996 – $773,994), two Gu Wenda’s work (Exclamatory Word And Bound Human Innards Series: He! He! He! (Triptych), that was estimated at $412,797 – $515,996 and Exclamatory Word And Bound Human Innards Series: Ba! Ba! Ba! (Triptych), estimated at $412,797 – $515,996), and another work by Zhang Xiaogang (Amnesia And Memory: Sleep, estimated at $322,498 – $451,497). When speaking on sold lots that underperformed, several lots had -50 percent difference between hammer price and low estimate, and one lot, Wang Mai’s The Glory Of Capitalism had -65 percent difference – it was estimated at $2,580 – $3,870, and was sold for just $903.

Please, scroll down to see details of every lot auctioned at Sotheby’s Hong Kong on Sunday.

  • Sotheby's Hong Kong

Sotheby's: Contemporary Asian Art in Details

Total number of lots:200
Number of sold lots:159
Sold lots [%]:79.5
Number of sold lots over high estimate:58
Over high estimate (Total) [%]:29
Over high estimate (Sold) [%]:36.5
Number of sold lots in range of estimated values:79
In range of estimated values (Sold) [%]:49.7
Number of sold lots under low estimate:22
Under low estimate (Sold) [%]:13.8
Results were under estimate spread of [%]:32.5
Lot No.Artist NameArtwork NameLow Estimate $High Estimate $Hammer Price $Hammer High Estimate Difference [%]Hammer Low Estimate Difference [%]
701Xie MolinExercise On Strip No. 17740103201548050100
702Chen YujunAsian Circumscription - 5.2 Square Metres No. 20100415 (Set Of Two)19350322503870020100
703Wang GuangleCoffin Paint Series 071103773991031991096496.341.7
704Liu WeiPurple Air1934993869973869970100
705Yuan YuanUntitled2580038700109649183.3325
706Yuan YuanThe Secret Lives Of Cities516007739912899966.7150
707Song YuanyuanPolyhedron (Diptych)451507094945150-36.40
708Song YuanyuanPasty Bag129001935012900-33.30
709Madein CompanyUntitled709499674910964913.354.5
710Madein CompanySpread B-0577739910319977399-250
711Madein CompanyAt A Loss5160064500Not SoldNot SoldNot Sold
712Chen FeiDrama And Drama No. 1 (Two Works)141899193499Not SoldNot SoldNot Sold
713Chen KeA X Dog No. 1206403225030960-450
714Ouyang ChunPainter Dog516006450054180-165
715Yasuda YuDiaphanous774012900141901083.3
716Kasai MaikoCrossing The Swirling River7740129007740-400
717Ozawa SakaeTender Earth516077406192-2020
718Hasuwa TomokoSuper Hero4515709538700445.5757.1
719Konishi ToshiyukiUntitled9675122552064068.4113.3
720Kashiki TomokoPicking White Flowers154802838023220-18.250
721Shioyasu TomokoThrobbing Pulse25800387007481993.3190
722Shichinohe MasaruGarden3870645020640220433.3
723Shichinohe MasaruRepulsive Force Series (Hexaptych)3612049020Not SoldNot SoldNot Sold
724Shichinohe MasaruSewing Girl154802322020640-11.133.3
725Zhang YexingAfternoon387005160054180540
726Qiu XiaofeiTrain Station58050773999029916.755.6
727Qiu XiaofeiWaiting Till The Morning4515058050Not SoldNot SoldNot Sold
728Qiu XiaofeiGazebo387005160051600033.3
729Li SongsongZhu De On A Bike90299116099Not SoldNot SoldNot Sold
730Wang XingweiMoving A Sofa967491289991547992060
731Zhang EnliSingle322498451497322498-28.60
732Zhang EnliUntitled206398322498257998-2025
733Zhang EnliDried Up Fruit No. 9283804128030960-259.1
734Ji DachunEyeball258003225025800-200
735Ji DachunUntitled1290019350Not SoldNot SoldNot Sold
736Guo HongweiEmpty Space Series No. 27740103207740-250
737Wang Daishan(I) Diary I - 68 (Ii) Sketch No. 7 (Two Works)64509030Not SoldNot SoldNot Sold
738Zhang HuiSwimming Pool516077405160-33.30
739Wang MaiThe Glory Of Capitalism25803870903-76.7-65
740Zhou JinhuaJanuary 2008 No. 338706450Not SoldNot SoldNot Sold
741Wang YinFlower32250451505805028.680
742Xie NanxingTen Tear-Drops And Ten Self-Portraits451507094961920-12.737.1
743Chow Chun FaiInfernal Affairs - Guess Who A Cop Is709596757095-26.70
744Song YonghongEmbracing Hong Kong103201290010320-200
745Zeng FanzhiUntitled15479923219828379822.283.3
746Zhang XiaogangBloodline Series: Yellow Baby 515996773994Not SoldNot SoldNot Sold
747Zeng FanzhiPortrait515996773994515996-33.30
748Liu WeiRevolutionary Family Series257998386997322498-16.725
749Liu WeiPortrait Of Wang Guangyi90299128999122549-535.7
750Liu WeiShameless193499322498Not SoldNot SoldNot Sold
751Xie NanxingUntitled No.39029915479921929841.7142.9
752Xie NanxingSelf-Portrait With Guns32250451506450042.9100
753Wang XingweiFostered Art No. 36450903020640128.6220
754Wang XingweiFostered Art No.677401032020640100166.7
755Gu DexinB13258003870033540-13.330
756Gu DexinA11322504515016770-62.9-48
757Gu DexinB19129001935041280113.3220
758Gu DexinB31154802580020640-2033.3
759Gu DexinB27129001935054180180320
760Gu DexinB15103201935012900-33.325
761Gu DexinB16129001935012900-33.30
762Tang PinggangUntitled (Set Of Two)645090301225535.790
763Wang YoushenOne Finger Zen645090305418-40-16
764Wang YoushenXingtian645090301032014.360
765Lin ChunyanUntitled (Four Works)1032019350Not SoldNot SoldNot Sold
766Yin GuangzhongUntitled (Abstract Painting)258038701290-66.7-50
767Liu ZhenggangOverflowing387064506192-460
768Wang GuangyiThree Sections Of Human Body90299116099109649-5.621.4
769Yu YouhanFour Women7739910319970949-31.3-8.3
770Wang ZiweiHopeless (Miss You)129001935011610-40-10
771Luo BrothersWelcome To The World'S Most Famous Brands (Two Works)1290019350Not SoldNot SoldNot Sold
772Liu Zheng(I) 20 Yuan Banknote (Ii) 50 Yuan Banknote (Two Works)258038701290-66.7-50
773Zheng GuoguShanghai Glowing (Trade Marks) (Set Of Two)387006450041280-366.7
774Yan LeiInvasion (Face)6450103201290025100
775Yan LeiInvasion (Back), Two Works15480232203612055.6133.3
776Yang MianHouse Standard No. 7 64509030Not SoldNot SoldNot Sold
777Chen WenboLandscape Of Utopia154802322020640-11.133.3
778Yang ShaobinBlue Room Series 387005160041280-206.7
779Zhou TiehaiEgo Project: Cindy Sherman193503225025800-2033.3
780Zhou TiehaiThe Avant-Garde Is Not Afraid Of A Long March645009029958050-35.7-10
781Zhu Fadong100 Days, 100 Jobs64509030Not SoldNot SoldNot Sold
782Fung MingchipLight Form Script: Heart Sutra (Two Works)2580387014190266.7450
783Yangjiang Youth(I) Hidden Mystery In Peace (Ii) No.1 Gambling Queen In Asia (Two Works)2580387019350400650
784Zhang HongtuTrinity2580038700Not SoldNot SoldNot Sold
785Feng MengboYi Bite Series, L0238706450774020100
786Ma DeshengHome Of The Commoners1548193520646.733.3
787Zhou ChangjiangThe Man Of Intelligent And Ignorant No. 2516077401032033.3100
788Zhou ChangjiangThe Overlapping Newly Translated Scriptures (Set Of Eight)387005160019350-62.5-50
789Chung SanghwaUntitled 91-8-2619349932249849019652153.3
790Chung SanghwaUntitled 78-225800387006063056.7135
791Chun KwangyoungAggregation 07 No.77516007739951600-33.30
792Lee UfanFrom Point516007739951600-33.30
793Yoshihara JiroUntitled25805160541809502000
794Motonaga SadamasaUntitled128999257998245098-590
795Shen FanLandscape (Set Of 3)180602580024510-535.7
796Shen FanHappy-P-11C103201548010320-33.30
797Ding YiAppearance Of Crosses 97-32154799232198Not SoldNot SoldNot Sold
798Chen Qiang2001-291032015480Not SoldNot SoldNot Sold
799Qiu ShihuaUntitled 103201548012900-16.725
800Qiu ShihuaUntitled258005160045150-12.575
801Wang JianweiUntitled103199154799Not SoldNot SoldNot Sold
803Zhang XiaogangAmnesia And Memory: Sleep322498451497Not SoldNot SoldNot Sold
804Zhan WangArtificial Rock No. 98 9029911609990299-22.20
805Ai WeiweiTable With Three Legs154799232198199948-13.929.2
806Gu WendaUntitled516007739951600-33.30
807Gu WendaExclamatory Word And Bound Human Innards Series: He! He! He! (Triptych)412797515996Not SoldNot SoldNot Sold
808Gu WendaExclamatory Word And Bound Human Innards Series: Ba! Ba! Ba! (Triptych)412797515996Not SoldNot SoldNot Sold
809Gu WendaUnited Nations Series: Hong Kong Monument (Set Of Two)90299116099Not SoldNot SoldNot Sold
810Xu BingSquare Word Calligraphy: Dylan Thomas, Do Not Go Gentle Into That Good Night128999193499141899-26.710
811Wang TiandeDigital Series1290019350Not SoldNot SoldNot Sold
812Wang TiandeDigital Series (Four Works)116101290011610-100
813Yang JiechangComposition Ii258003870030960-2020
814Yang JiechangComposition Xxii232203612025800-28.611.1
815Qiu ZhijieAn Envelope To Qiu Jiawa: Just The Feeling Alive Is Enough To Please You77399128999Not SoldNot SoldNot Sold
816Shao FanRabbit23220490205805018.4150
817Xu HualingSwordgirl No.13225045150Not SoldNot SoldNot Sold
818Cai Guo-QiangThe Huge White Flag, Among Firework, 8.18 A Normal Nightfall (Three Works)1935025800Not SoldNot SoldNot Sold
819Tsang Tsou Choi (King Of Kowloon)King'S Map6450903041280357.1540
820Zhang HuanYao Series11610154808385-45.8-27.8
821Yang MaoyuanLook Inside Series: (I) Parthenon (Ii) Romano (Two Works)77401032025800150233.3
822Sui JianguoStructure232203612030960-14.333.3
823Fang LijunWoodblock Print Series (4 Works)103201548015480050
824Shen XiaotongTemptation No.2638706450Not SoldNot SoldNot Sold
825Yang XunDream Of Capital 1879 No. 5103201290010320-200
826Cheng Tsai-Tung (Zheng Zaidong)Wave3225051600Not SoldNot SoldNot Sold
827It Park Artists2014 It Park Limited Editions (Set Of 15)  7740103208385-18.88.3
828Zhou ChunyaFlowers103199128999Not SoldNot SoldNot Sold
829Zhou ChunyaGreen Dog257998386997257998-33.30
830Yue Minjun99 Idol Series No. 22 & No. 25 (Two Works)387006450041280-366.7
831Yue MinjunUntitled (Magritte Stone)232198361197Not SoldNot SoldNot Sold
832Kusama YayoiInfinity Nets (2Bd)232198386997232198-400
833Kusama YayoiPumpkin128999232198219298-5.670
834Kusama YayoiHat7094910964912899917.681.8
835Kusama YayoiDots645009029914189957.1120
836Kusama YayoiShoe154802322020640-11.133.3
837Kusama YayoiHorizon Of Sunset361206192051600-16.742.9
838Kusama YayoiWind And Rain77401290012900066.7
839Kusama YayoiAfternoon Rain77401290012900066.7
840Kusama YayoiFlower7740116101419022.283.3
841Kusama YayoiPumpkin2838041280109649165.6286.4
842Kusama YayoiPumpkin 27740116101677044.4116.7
843Nara YoshitomoZuzanna6450103201225518.890
844Nara YoshitomoFlight387006450064500066.7
845Kang HyungkooWarhol6450090299Not SoldNot SoldNot Sold
846Inoue YukiSalamander774012900Not SoldNot SoldNot Sold
847Han YajuanLittle Milk Cow Underwear258038701419-63.3-45
848Kitagawa HirotoReiko Hanafusa129001935041280113.3220
849Sui JianguoDiscobolus387064503870-400
850Xue SongChinese Landscape And Coca Cola (Nine Works)451505805051600-11.114.3
851Wang GuangyiBelief Series (Three Works)516007739951600-33.30
852Wang GuangyiGreat Criticism Series: Art Race6450090299Not SoldNot SoldNot Sold
853Wang GuangyiMethodology Of People'S War Series645007739938700-50-40
854Xue SongWalk To New Life322504515038700-14.320
855Feng ZhengjieChinese Portrait Series1935025800Not SoldNot SoldNot Sold
856Qi ZhilongConsumer Icons No. 37129001935012900-33.30
857Zhang LinhaiCloud Series No. 41548023220Not SoldNot SoldNot Sold
858Zhao GangUntitled (Mao)2580516051600100
859Pan DehaiReceding Hairline No.4903011610Not SoldNot SoldNot Sold
860Xu TanMade At Home In China645090305805-35.7-10
861Qiu ZhijiePing Pong645090306450-28.60
862Qiu ZhijieCopy Orchard Pavilion Preface 1000 Times387064503612-44-6.7
863Qiu ZhijieForm Of Memory258038702580-33.30
864Wang JianweiMy Visual Archive12900193506450-66.7-50
865Wang JianweiYing Bi: Ping Feng – Screen: Screen1548023220Not SoldNot SoldNot Sold
866Feng MengboQ31290019350Not SoldNot SoldNot Sold
867Cui XiuwenUnderground No.2387051603612-30-6.7
868Li YongbinFace Series (No. 1,2,4,5,6,7,8,9,10,11,12, 14), The Sun (13 Works)1935032250Not SoldNot SoldNot Sold
869Liu WeiLandscape - Celestial Mountain (Set Of Six) 38700645008384930116.7
871Yang FudongDon'T Worry, It Will Be Better... No.7129001935016125-16.725
872Zhang HuanMy New York1548023220Not SoldNot SoldNot Sold
873Zhang HuanFoam Series (Set Of Fifteen)258003870025800-33.30
874Yang YongliangSnow City Series  (Set Of Four)12900258002838010120
875Chen Chieh-JenFactory (Set Of Four)516077407095-8.337.5
878Hong LeiAfter The Song Painting Series129025801032-60-20
879Chen WeiIn The Waves #13870516012255137.5216.7
880Qiu ZhijieTattoo No. 4 And No. 7 (Two Works)25803870709583.3175
881Zheng Guogu10,000 Customers (Two Works)25803870516033.3100
882Wang QingsongNight Revels Of Lao Li15480232203354044.4116.7
883Wang QingsongFinding Fun387064502580-60-33.3
884Wang QingsongNew Women516077405805-2512.5
885Chen ShaoxiongStreet Scenes Series (Ten Works)9030154807095-54.2-21.4
886Weng FenSitting On The Wall - Guangzhou 33870645070951083.3
887Cang XinMy Identity As A Tourist Series (Set Of Ten)9030154809675-37.57.1
889Rong Rong & InriIn Fujisan, Japan (Set Of Sixteen)1032015480Not SoldNot SoldNot Sold
890Rong Rong1999 No. 8 (1) & (2) Beijing (Two Works)387064501935-70-50
891Wang NingdeSome Days Series (Set Of Twenty-Four)9030116109675-16.77.1
892Lin TianmiaoHere? Or There? (Set Of Fifteen)645090307095-21.410
893Hong HaoMy Things No.69030116109288-202.9
894Hu JiemingThe Raft Of Medusa516077405160-33.30
895He AnAdidas And Nike Series No.412901935645-66.7-50
896Liu ZhengPeking Opera Series (Three Works) 7740103204902-52.5-36.7
897Yuan Guangming (Yuan Goangming)City Disqualified – Ximen District : Day And Night (Set Of Two)7740103201677062.5116.7
898Chen FeiTo Remember Our Comrades258051602580-500
899Liu YeWow516077401032033.3100
900Yue MinjunHands Up, Don'T Move12902580335430160
901Murakami TakashiAs The Interdimensional Waves Run Through Me (And Others, Four Works)2580516054185110
902Murakami TakashiRed Ball And Other (Six Works)3870645033540420766.7
903Yue MinjunSmile-Ism Series19353225451540133.3
904Wang GuangyiGreat Criticism Series: Wto129019351290-33.30
905Zhang XiaogangMy Memory No.212902580412860220
TOTAL (Sold lots):595744790718708566971-5.643.8

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Sotheby's Hong Kong
Xie Nanxing – Untitled No.3, 2007 (Lot 751)
Sotheby's Hong Kong
Wang Guangle – Coffin Paint Series 071103, 2007 (lot 703)
Sotheby's Hong Kong
Zhang Xiaogang – Amnesia And Memory -Sleep, 2006 (Lot 803)
Sotheby's Hong Kong
Zhang Xiaogang – Bloodline Series – Yellow Baby, 1997 (Lot 746)
Sotheby's Hong Kong
Zeng Fanzhi – Portrait, 2005 (Lot 747)
Sotheby's Hong Kong
Yue Minjun – Untitled (Magritte Stone), 2006 (detail) (Lot 831)
Sotheby's Hong Kong
Motonaga Sadamasa Untitled, 1990 (Lot 794)
Sotheby's Hong Kong
Chung Sanghwa – Untitled 91-8-26 (Lot 789)
Sotheby's Hong Kong
Liu Wei – Shameless, 2001 (Lot 750)
Sotheby's Hong Kong
Qiu Xiaofei – Train Station, 2005 (lot 726)
Sotheby's Hong Kong
Takashi Murakami – Red Ball and Other, 2014 (Six Works) (Lot 902)
Sotheby's Hong Kong
Liu Wei – Revolutionary Family Series, 1991 (Lot 748)
Sotheby's Hong Kong
Wang Xingwei – Moving A Sofa, 2006 (Lot 730)
Sotheby's Hong Kong
Zhang Enli – Single, 1995 (Lot 731)
Sotheby's Hong Kong
Yayoi Kusama – Dots, 1988 (lot 835)
Sotheby's Hong Kong
Madein Company – Spread B-057, 2010 (Lot 710)
Sotheby's Hong Kong
Yayoi Kusama – Infinity Nets (2bd), 2004 (detail) (Lot 832)
Sotheby's Hong Kong
Yuan Yuan – The Secret Lives Of Cities, 2012 (Lot 706)
Sotheby's Hong Kong
Yoshihara Jiro – Untitled, 1963 (lot 793)
Sotheby's Hong Kong
Ufan Lee – From Point, 1977 (Lot 792)

Featured images: – Madein Company – Untitled, 2011 (lot 709) – Hasuwa Tomoko – Super Hero, 2013 (detail) (lot 718)

Also in slider: – Zhang Yexing – Afternoon, 2013 (lot 725) – Liu Wei – Purple Air, 2007 (Lot 704) – Yuan Yuan – Untitled, 2011 (lot 705) – Yayoi Kusama – Hat, 1984 (lot 834)

All images courtesy of Sotheby’s.