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Auction Results, Emerging Markets
Marion Maneker0April 09, 2013

China Guardian Spring Hong Kong Sales = $37.7m

Zhang Daqian’s “Cottages in Misty Mountains” ($3.5m)

China Guardian, one of the mainland’s leading auction houses,  HKD 293,054,500 (USD 37,747,367), nearly 50% more than the pre-auction estimate.

  • Cottages in Misty Mountains by Zhang Daqian (above) sold for HKD 27,025,000/ USD 3,481,300 to a phone bidder after over 20 bids.
  • overall total achieved HKD 161,644,000/ USD 20,821,240.
  • The “Hong Kong Ink Painting” sale included a collection of work by 20 Hong Kong artists including Lui Shou-kwan, Liu Kuo-sung, Luis Chan and Kan Tai-keung, which are offered as a dedicated sale for the first time in Hong Kong, achieving total HKD 5.9 million/ USD 761,401.
  • “Classic Furniture of Ming and Qing Dynasties” and “Chinese Furniture from Hung’s Collection” sales on 5th April present an impressive collection of Huanghuali furniture from the Late Ming and Early Qing Dynasty, the Qianlong Period and the 17th Century, both sessions realized a total of HKD 83,180,650/ USD 10,713,330.
  • “Chinese Ceramics and Works of Art” sale including a total of 80 pieces of ancient Chinese ceramics and artworks presented, spanning from the Shang Dynasty (17BC – 11BC) to Modern China. Total of HKD 42,320,000/ USD 5,451,396.

Strong Results Seen at China Guardian Two-Day Auction in Spring (China Guardian)

Auction Results
Marion Maneker1June 22, 2012

Bonham’s Single Owner Sale in Hong Kong = $11.6m

In all the hubbub last month, Bonham’s noteworthy single owner sale in Hong Kong got lost in the mix. The auciton house sold HK$90.6m ($11.6m) worth of art, besting the estimates by 50%. All but one of the works was sold.

With that in mind, we’re posting the results here. All the Contemporary art lots sold, evidence of the strength in the market for Chinese masters of 20th Century abstract art. 

15 works by Chu Teh-Chun and Zao Wou-Ki total realized: HKD 63.3 million / 8.1 million USD (estimate: HKD 26.45- 37.3 million / 3.4 -4.8 million USD) 

12 Imperial Chinese works of art total realized: HKD 27.75 million / 3.5 million USD

Emerging Markets
Marion Maneker0June 06, 2012

Hong Kong’s Loss, the World’s Gain

The Wall Street Journal tries to unpack the recent soft sales in Hong Kong that extend far beyond the auction market. While the number of visitors to Hong Kong remains spectacular at 28 million persons a year, there’s a growing sense that mainland Chinese are traveling farther afield to go luxury shopping:

As mainlanders venture farther abroad, Europe and other Asian countries are big beneficiaries of the Chinese tourist boom. Global Blue, a company that helps tourists get tax refunds from their shopping abroad, said it processed 59% more tax refunds to Chinese shoppers during the 12-month period ended in March 2012 from the same period a year earlier. Global Blue operates in 35 countries, mostly in Europe but also Japan, Singapore and Korea. Shopping in the U.K. was particularly active: Global Blue saw tax refunds from Chinese shoppers go up 64% in that period.

Hong Kong sales are still getting boosted by the absence of high import duties and luxury taxes, which make luxury goods as much as 30% cheaper than if bought in mainland China, says Aaron Fischer, a retail analyst at brokerage firm CLSA.

A  Hong Kong Craze Cools (WSJ)

General
Marion Maneker0June 01, 2012

Christie’s HK Wrap-Up Video

Auction Results
Marion Maneker0May 29, 2012

Christie’s HK Jewels = HK$623m ($80.2m)

Auction Results
Marion Maneker0May 28, 2012

Christie’s HK Cont Day =HK$97m ($12.5m)

  1. Shang Yang, Hearth (HK$800-1.2m) HK$6.38m ($825k)
  2. Zeng Fanzhi, Mask (HK$2.5-3.5m) HK$5m ($655k)
  3. Fang Lijun, 1998.3.1 HK$2.5-3.5m) HK$4.22m ($546k)
  4. Zeng Fanzhi, Mask Series No. 11 (HK$2-3m) HK$3.62m ($468k)
  5. Liu Ye, Angels in Flight (HK$1-1.5m) HK$3.38m ($437k)
  6. Ding Yi, Apperance of Crosses (HK$800-1.2m) HK$1.82m ($235k)
  7. Shang Yang, H Land-13 (HK$300-500k) HK$1.46m ($189k)
  8. Yan Ping, Spring Flavour & Rabbit (HK$800-1m) HK$2.66m ($344k)
  9. Lia Dahong, The Honeymoon (HK$180-260k) HK$2.54m ($328k)
Collectors
Marion Maneker0May 25, 2012

Joseph Lau Charged with Bribery

Bloomberg reports on the bribery charges facing heavyweight Asian art collector, Joseph Lau:

Joseph Lau, the billionaire chairman of Chinese Estates Holdings Ltd. (127), will stand trial for bribery and money laundering in Macau in connection with a land purchase in the world’s biggest gambling hub.

Lau, an avid art and wine collector, was named last month in the corruption trial of Ao Man-long, Macau’s former secretary of transportation and public works, in relation to land being developed by Chinese Estates in the only Chinese city where casinos are legal. Ties between Hong Kong tycoons and government officials have come under scrutiny since the arrest in March of the co-chairmen of developer Sun Hung Kai Properties Ltd.

“Macau is a small place and the ties between business and the political establishment are very close,” said Joseph Cheng, a professor of political science at City University of Hong Kong. The government is sending “a warning to all those involved in corruption and bribery.”

Chinese Estates Chairman Charged With Bribery In Macau (Bloomberg)

Auction Results
Marion Maneker0April 04, 2012

Meiyintang Sale III = HK$307m ($39.6m)

  1. Blue & White Anhua Dragon Stem Bowl (HK$50-80m) HK$112.66m
  2. Yellow-glazed Xuade Bowl (HK$10-15m) HK$27m
  3. Famille Rose Peach Dish Qianlong (HK$10-15m) HK$19.7m
  4. Miniature Double-Gourd Doucai Vase (HK$8-12m) HK$15m
Auction Results
Marion Maneker0April 03, 2012

Sotheby’s HK Chinese Classical Painting (Highlights)

  1. Qi Biashi, Willows at the Riverside (HK$15-20m) HK$70m 
  2. Fu Baoshi, Mount Lu (HK$5-7m) HK$24m 
  3. Zhang Daqian, Mountains at Sunset (HK$4-6m) HK$10.5m
  4. Huang Binhong, Landscape (HK$3.5-5.5m) HK$9m
  5. Xu Beinhong, Grazing Under a Tree (HK$4-6m) HK$7.8m 
  6. Fu Boashi, Lady Sewing (HK$2.5-4m) HK$7m 
  7. Zhang Daqian, Perching on a Branch (HK$1.2-1.8m) HK$6.4m
  8. Qi Baishi, Wisteria (HK$1.8-2.5m) HK$5.5m
Auction Results
Marion Maneker0April 02, 2012

Sotheby’s HK Southeast Asian Cont = HK$95.9m ($12.37m)

  1. Walter Spies, Banyan with Two Youg Balinese (HK$6.5-11.5m) HK$9.6m
  2. Hendra Gunawan, Self Portrait with Child (HK$1.5-2.5m) HK$6m
  3. Romualdo Locatelli, Portrait of Fu Ku Ko (HK$1.2-1.8m) HK$4.8m
  4. Ronald Ventura, Humanime (HK$450-680k) HK$3.9m
  5. Adrien Jean Le Mayeur de Merpres, Balinese Women in the Garden (HK$1.2-2m) HK$3.14m
  6. Le Pho, Le Rideau Mauve (HK$600-800k) HK$2.9m
  7. Ahamd Sadali, Abstract Orange (HK$180-250k) HK$2.9m
  8. But Mochtar, Mother & Child (HK$200-300k) HK$2.5m
  9. Lee Man Fong, Combing Hair (HK$280-380k) HK$2.4m
  10. Ay Tjoe Christine, Langit-Langit Merah (HK$240-350k) HK$2.4m
  11. Ahmad Sadali, Tetas Emas Atas Merah Padas (HK$250-350k) HK$2.3m
  12. Anita Magsaysay-Ho, MGA Naglalako Ng Manok (HK$900-1.5m) HK$2m
  13. Ay Tjoe Christine, Bertujuh #1 (HK$200-300k) HK$1.6m
  14. Cheong Soo Pieng, Untitled (HK$280-380k) HK$1.6m
  15. Ay Tjoe Christine, Please . . . Adopt This One (HK$200-300k) HK$1.3m
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