Sotheby's Contemporary Asian Art Auction In Hong Kong (October 3): Top 10 Lots To Watch

Anticipation, Demand High Among Chinese Collectors For Quality Blue-Chip Works#

Zhang Xiaogang’s "Bloodline: Big Family No. 1" (Est. HK$58-65 million / US$7.4-8.3 million)

Coming one day after the sprawling second installment of the Ullens collection auction series (previously on Jing Daily), the upcoming Contemporary Asian Art auction at Sotheby's in Hong Kong is sure to see the same spirited bidding that characterized its counterpart last April. At the last Sotheby's auction of contemporary Asian art, Chinese collectors proved key to pushing the sale far beyond its pre-sale estimate of HK$121 million (US$16 million), homing in on mainland Chinese blue-chip artists like Zhang Xiaogang and Liu Ye and breaking records in the process. All told, the auction took in HK$182.9 million (US$23.5 million), with Zhang proving the most valuable artist, his 1995 painting “Bloodline – Big Family” selling for HK$56.6 million (US$7.3 million), 140 percent over its pre-sale high estimate. Other lots that excited Chinese collectors included Liu Ye’s “The Rietveld-Schröder House At Nightfall,” which sold for HK$7.8 million (US$1 million), nearly HK$2 million over its high estimate, Zeng Fanzhi’s “Mask Series" drawing, which went for HK$560,000 (US$72,000) — almost triple its high estimate — and Qiu Xiaofei’s “Studying No. 3,” which ended up at HK$524,000 (US$67,380), more than five times its high estimate.

This time around, look for more works by Zhang, Liu, and sought-after top-tier Chinese artists like Fang Lijun, Zeng Fanzhi, Wang Keping, Yang Shaobin and Xu Bing to keep the bids coming in strong. With many of the issues that are motivating wealthy new Chinese collectors to head to Hong Kong to bid for historical and quality art, antiques, wine, and jewelry -- inflation, a touchy real estate market and an unreliable stock market -- remaining pressing, expect mainland collectors to come out swinging.

Jing Daily's top lots to watch on October 3 in Hong Kong: