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:#
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Zao Wou-Ki#
: "Untitled" (1960) -- Sold for $63,519, over high estimate of $28,818
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Ai Weiwei#
: "Beijing's Presents" (2002, from edition of three) -- Sold for $40,050
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Chen Zhen#
: "Uninterrupted Voice" (2000) -- Sold for $386,483, more than double its high estimate of $160,100
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Li Song Song#
: "Mongolians" (2006) -- Sold for $117,347, nearly
triple#
its high estimate of $44,828
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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#
:
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Zeng Fanzhi#
: "Portrait 08-7-8" (2008) -- Sold for $153,499
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Zhang Xiaogang#
: "Portrait D" (2001) -- Sold for $286,085
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Wang Guangyi#
: "Un Poulet Roti" (1993) -- Sold for $62,583, more than double its high estimate of 27,800
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Wang Guangyi#
: "Great Criticism Series: Audi" (2005) -- Sold for $96,677
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Wang Guangyi#
: "Great Criticism Series: Swatch" (2005) -- Sold for $106,147
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Li Tianbing#
: "Autoportrait Avec Mon Frere, No. 2" (2006) -- Sold for $96,677