Strong Sales For Chinese Artists At Sotheby's, Christie's Auctions

100% Of Chinese Lots Sell At Christie's In London, Zeng Fanzhi And Wang Guangyi Take The Day At Sotheby's Last weekend at both Sotheby's and Christie's in London, collectors indicated that the upward momentum we've seen in the prices of works by blue-chip Chinese artists at recent auctions continues to gain steam. At Christie's Day Sale of Post-War and Contemporary Art, works by Zao Wou-Ki, Chen Zhen, and Wang Guangyi went well above high estimates. To put the Chinese sales into context, 100% of works by Chinese artists sold, compared to 66% of overall lots sold at the auction. Chen Zhen's work "Uninterrupted Voice" was particularly notable at this auction, selling for $386,483, more than double its high estimate of $160,100. Additionally, the performance of Wang Guangyi at Christie's -- as well as Sotheby's -- last week hints that Wang's appeal among new collectors is growing. Results from Christie's Day Sale in London: - Zao Wou-Ki : "Untitled" (1960) -- Sold for $63,519, over high estimate of $28,818 - Ai Weiwei : "Beijing's Presents" (2002, from edition of three) -- Sold for $40,050 - Chen Zhen : "Uninterrupted Voice" (2000) -- Sold for $386,483, more than double its high estimate of $160,100 - Li Song Song : "Mongolians" (2006) -- Sold for $117,347, nearly triple its high estimate of $44,828 - Wang Guangyi : "Great Criticism: Nestle" (2002) -- Sold for $59,675, over its high estimate of $48,030 Across town at Sotheby's, Chinese contemporary artists -- including collector favorites like Zeng Fanzhi -- sold briskly at the Contemporary Art Day Auction, with six of the seven works offered finding new homes. A small work by Zhang Xiaogang was the most expensive Chinese lot, selling for $286,085. Three works by Wang Guangyi were sold at this auction, with one -- 1993's "Un Poulet Roti" -- going for more than double its high estimate. Results from Sotheby's Contemporary Art Day Auction : - Zeng Fanzhi : "Portrait 08-7-8" (2008) -- Sold for $153,499 - Zhang Xiaogang : "Portrait D" (2001) -- Sold for $286,085 - Wang Guangyi : "Un Poulet Roti" (1993) -- Sold for $62,583, more than double its high estimate of 27,800 - Wang Guangyi : "Great Criticism Series: Audi" (2005) -- Sold for $96,677 - Wang Guangyi : "Great Criticism Series: Swatch" (2005) -- Sold for $106,147 - Li Tianbing : "Autoportrait Avec Mon Frere, No. 2" (2006) -- Sold for $96,677

Strong Sales For Chinese Artists At Sotheby's, Christie's Auctions

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Published October 20, 2010

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Strong Sales For Chinese Artists At Sotheby's, Christie's Auctions