Mainland Collectors Expected To Dominate At April 5 Auction In Hong Kong
Last month, Jing Daily wrote about the recent Sotheby’s art auction in London where 100% of the Chinese works up for grabs at the contemporary Western sale sold at or above estimates. At that time, we pointed out that upcoming Sotheby’s sales in Hong Kong — which run the gamut from contemporary Asian art to jewelry and fine wine — are expected to draw a large number of mainland collectors with new budgets and money allocated to collect art — “New Chinese Collectors” with money to burn.
So for collectors who are interested in making bids on lots in the upcoming Sotheby’s auction, as always it pays to be informed about what’s going to be on the block. In preparation for the wide-ranging Contemporary Asian Art auction on April 5, here are Jing Daily’s “Top 10 Lots To Watch.”
1.) Liu Ye: “Bright Road” (1995)
Oil on canvas
Size: 170×200 cm
Estimate: HK$4,500,000-6,500,000 (US$580,000-840,000)
2.) Zhan Wang: “Artificial Rock Series #29” (2004)
Size: 220cm x 129cm x 70 cm
Estimate: HK$1,600,000-2,000,000 (US$206,000-258,000)
3.) Yue Minjun: “On the Lake” (1994)
Oil on canvas
Size: 182cm x 250cm
Estimate: HK$7,000,000-10,000,000 (US$905,000-1,290,000)
4.) Ai Weiwei: “Table With Two Legs” (2005)
Ming Dynasty wood table
Size: 61cm x 184cm x 120cm
Estimate: HK$500,000-700,000 (US$64,500-90,500)
5.) Qiu Zhijie: “Tattoo Series No. 3 & No. 6 (two works)” (2000)
Chromogenic prints, framed
Size: each 100cm x 79.2cm
Estimate: HK$56,000-70,000 (US$7,100-9,000)
6.) Cai Guo-Qiang: “Movement Cultivates Vitality (in 5 panels)” (2005)
Gunpowder and ink on paper mounted on wooden panels
Size: 230cm x 388 cm
Estimate: HK$4,200,000-5,200,000 (US$545,000-670,000)
7.) Zeng Fanzhi: “Couple” (2005)
Oil on canvas
Size: 219.7cm x 144.7cm
Estimate: HK$2,800,000-3,500,000 (US$358,900-448,700)
8.) Fang Lijun: “1997.7” (1997)
Oil on canvas
Size: 150cm x 110cm
Estimate: HK$900,000-1,300,000 (US$116,000-168,000)
9.) Feng Zhengjie: “Chinese Portrait Series” (2008)
Oil on canvas
Size: 209.5cm x 303.3cm
Estimate: HK$1,000,000-1,500,000 (US$128,300-192,400)
10.) Sui Jianguo: “Legacy Mantles (set of 5)” (2006)
Fiberglass with automotive paint
Size: (each) 63.5cm x 48.2cm x 30.4cm
Estimate: HK$1,500,000-2,000,000 (US$194,000-258,000)
Information about bidding on lots at the upcoming auction is available on the Sotheby’s website.
Bidding in person
To bid in person, you will need to register for and collect a numbered paddle before the auction begins. Please remember to bring government-issued proof of identity, such as a driving license or passport, with you. If you are a first-time bidder, you will also be asked for your address, telephone number, and signature in order to create your account. In addition, you may be asked to provide a bank reference. If you are bidding on behalf of a third party, you will need to provide a letter from that person authorizing you to bid on his/her behalf.
To place your bid, simply raise your paddle until the auctioneer acknowledges you. You will know when your bid has been acknowledged; the auctioneer will not mistake a random gesture for a bid. The bidding increments are decided by the auctioneer, and will usually not exceed ten percent of the previous bid. The auctioneer will take increasing bids on each lot, until only one bidder remains. The final bidder purchases the lot. Each lot will have a reserve, which is the confidential minimum selling price previously agreed with the seller. If the bidding fails to reach this price, the lot will remain unsold.
Absentee Bids (also known as Written/Commission/Order Bids)
If you are unable to attend the auction in person, we will be happy to execute written bids on your behalf. This service is free and confidential.
Sotheby’s publishes an absentee bid form at the back of each catalogue and as a download on Sothebys.com, which you may use to indicate the item upon which you wish to bid and the maximum bid amount you are willing to make. If you do not have an account with us already, your absentee bid form will contain the information required for registration, and we will contact you to confirm your identity.
Completed absentee bid forms should be returned to the bid department at the Sotheby’s office conducting the auction, by fax (preferred), by post, or in person with any client service staff member.
When we execute an absentee bid on your behalf, the lot will always be bought for the lowest increment that exceeds all competing bids and which meets or exceeds the reserve price. In the event of identical bids, the earliest received will take precedence.
You may also use the Absentee Bid form to indicate more than one item on which you would like to bid, depending upon whether your earlier bid is successful (an “or” bid). We are not able to execute “Buy” or unlimited bids.
Written and telephone bids are offered as an additional service for no extra charge, and at the buyer’s risk. Sotheby’s cannot accept liability for failure to place such bids.
Successful absentee bidders will receive an invoice after the auction.
For most auctions, you may also use the absentee bid form to register for telephone bidding. Based on the information you provide on the form, a Sotheby’s representative will contact you from the saleroom prior to your specified lot(s) and will relay your bids to the auctioneer. As the number of telephone lines is limited, it is necessary to make arrangements for this service 24 hours before the sale, with additional advance warning for languages not native to the auction location.
Telephone bids are accepted at Sotheby’s sole discretion and at the prospective buyer’s risk. Telephone bidding lines are recorded for the security of both parties, and by bidding on the telephone prospective buyers consent thereto.