CHRISTIE’S SHANGHAI SALE ACHIEVED RMB148,304,400/USD 21,143,021
Voie Lactée – 09.11.1956 by Zao Wou-Ki Becomes the Most Expensive Work of Art Sold at Christie’s Shanghai
Exceptional Combined Sell-Through Rate of 96%
Shanghai, China – Christie’s completed its seventh year of sales in Shanghai, achieving a combined total of RMB148,304,400/USD 21,143,021. The evening sale achieved a remarkable 97% sell-through rate, led by Voie Lactée – 09.11.1956 by Zao Wou-Ki, which became the most expensive work of art to be sold in Christie’s Shanghai when it achieved RMB 56,400,000.
Francis Belin, President Christie’s Asia Pacific, commented: “The very strong results achieved in Shanghai in addition to those realized during New York Asian Art Week underscore the confidence we are seeing in the market. Our tightly curated sales featured a broad mix of Chinese and Western works which was met with great enthusiasm, achieving a remarkable 96% combined sell- through rate. We remain committed to contributing to the art market here in China and to meeting the demands of Chinese collectors and to continue enriching the way we engage.”
Julia Hu, General Manager China, continued: “This season presented one of the most diverse offerings of works to date, made possible by the international collaboration of our specialists and art departments. In the evening sale alone, over 50% of the works were from the Western art category- the most comprehensive selection ever offered. Among this group, six artists were presented at auction in Shanghai for the first time and were 100% sold. The exceptional results achieved for all genres of Asian and Western works demonstrate that the Shanghai salesroom has further established itself as a truly international platform”.
The second sale dedicated sale to Moutai, The Spirit of China – Kweichow Moutai was enthusiastically received, realising a total of RMB 14,784,000 with 96% sold by lot.
The top lot of the sale was 12 bottles of FeiTian MAOTAI 1977, which sold for RMB960,000.00 (illustrated left).
Returning for another successful season, the Cross- category FIRST OPEN sale which includes The Contemporary Scholar’s Studio section of works realised RMB 9,404,400, and a sell-through rate of 96%.
The top lot of the sale was NO REPLY by KAWS, which sold for RMB864,000 (illustrated left).
The top lot of the evening auction of 20th Century and Contemporary Art was Voie Lactée – 09.11.1956, by Zao Wou-ki (illustrated above) which was sold for RMB 56,400,000, becoming the most expensive work of art to be sold in Christie’s Shanghai.
Overall the sale was with 97% sold by lot and totaled RMB 124,116,000.
A wide selection of Western artworks was also offered, with Le profil du temps by Salvador Dali (illustrated right) achieving the top price for the category of RMB7,680,000.
First time artists represented at auction in Shanghai, Alex Katz, Gerhard Richter, Andreas Gursky, Eddie Martinez, Tony Cragg and Katharina Grosse also achieved strong prices and were 100% sold by lot.
Christie’s, the world’s leading art business, had auction sales in the first half of 2019 that totalled £2.2 billion / $2.8 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and international expertise. Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over $100 million. Christie’s also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery.
Alongside regular sales online, Christie’s has a global presence in 46 countries, with 10 salerooms around the world including in London, New York, Paris, Geneva, Milan, Amsterdam, Dubai, Zürich, Hong Kong, and Shanghai.
*Please note when quoting estimates above that other fees will apply in addition to the hammer price – see Section D of the Conditions of Sale at the back of the sale catalogue.
*Estimates do not include buyer’s premium. Sales totals are hammer price plus buyer’s premium and are reported net of applicable fees.
Gerhard Richter FUJI
Andreas Gursky DUBAI WORLD 1
Alex Katz JENNIFER AND