Important Highlights from Phillips' Hong Kong July Auctions

With a record number of online bidders, this season achieved HK$428 Million / US$ 55 Million and a sell-through rate of 90% across all categories. 

With a record number of online bidders, this season achieved HK$428 Million / US$ 55 Million and a sell-through rate of 90% across all categories. 

Jonathan Crockett, Chairman, Asia, conducted the auction of Zao Wou-Ki’s 22.6.63

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20th Century and Contemporary Art and Design

Highest ever total for a 20th Century & Contemporary Art & Design auction series staged by Phillips Asia, which realized HK$ 272 million.

22.6.63 and 24.10.63 presented at Phillips’ Hong Kong Preview.

Two masterworks by Zao Wou-Ki from the artist’s Hurricane Period, 22.6.63 and 24.10.63, were sold for a total of HK$100 million to the same private Asian collection, meaning these two works continue to bear the same provenance from the initial acquisition from the distinguished Kootz Gallery in 1963.

Jonathan Crockett, Chairman, Asia, conducted the auction of Liu Ye’s Girl!.

Works by Liu Ye fetched strong prices, with Choir of Angels (Red) sold for HK$28 million, and Girl!, exceeded the pre-sale high estimate of HK$3 million to achieve an exceptional result of HK$7.8 million.

Christine Ay Tjoe Layer as a Hiding Place, 2013. Estimate: HK$4,000,000 - 6,000,000. Sold for HK$6,750,000. Third-highest auction price for Christine Ay Tjoe.

The specially-curated female artist’s section across Evening and Day Sales saw 100% sell-through rate, led by Christine Ay Tjoe’s Layer as a Hiding Place which achieved HK$6.75 million.

Claire Tabouret Les déguisements (Disguises), 2015. Estimate: HK$550,000 - 750,000. Sold for HK$3,500,000. New auction record.

This season marked Claire Tabouret‘s debut in Asia with Les déguisements (Disguises), which soared to five times its high estimate, setting a new auction record for the artist. The Army and Folding Arms by Hong Kong artist Firenze Lai represented her first works to come to auction, and both proved extremely popular by far exceeding their pre-sale high estimates.

Nicolas Party Still Life, 2017. Estimate: HK$3,800,000 - 4,800,000. Sold for HK$5,910,000.
 

Standout results achieved for in-demand Western artists with numerous records included Still Life by Nicolas Party, which sold for HK$5,901,000, and became the third-highest auction price for the artist. Genieve Figgis' Arty Party sold for HK$2,000,000, setting the second-highest auction record for the artist, following a world record also achieved by Phillips Hong Kong last November. Eddie Martinez's Intergalactic Go Fish and Daniel Arsham's Grey Selenite Eroded Porsche both sold above their high estimates.

Genieve Figgis Arty Party, 2019. Estimate: HK$550,000 - 750,000. Sold for HK$2,000,000.

Works by Fresh-to-Market Names

Phillips continues to debut works by fresh-to-market names, including Matthew Wong, Nicole Eisenman, Claire Tabouret, Koichi Sato, Austin Lee and Firenze Lai. Matthew Wong’s Warmth attracted 23 bidders who participated online, on the phone and in the auction room and sold for HK$2.6 million, more than four times the high estimate.

Matthew Wong’s Warmth presented at Phillips’ Hong Kong preview.

Astonishing International Participation

Phillips in association with Bacs & Russo achieved HK$109 million in the Hong Kong Watch Auction X with over 99% sell-through rates. This strong performance brought the spring season total for watch sales at Phillips to US$47 million.

Thomas Perazzi, Head of Watches, Asia, conducted the auction of Patek Philippe ref. 2499/100, which sold for HK$4.7 million.

Thomas Perazzi, Head of Watches, Asia, said: “Our tenth watch auction in Hong Kong brought together a carefully curated group of timepieces to the community of watch collectors. This season we continue to see astonishing international participation, with bidders hailing from across 50 countries, raising their paddles in the saleroom, over the phone and online, including a record number of 1,200 online bidders, the most in any live auction held by Phillips in Asia in company history."  

Patek Philippe Reference 2499/100, 18K yellow gold 998 perpetual calendar chronograph wristwatch with moon phases. Circa 1982
Estimate HK$3,500,000-5,000,000. Sold for HK$ 4,710,000

93% of lots received online bids with 50% of timepieces and half of the top 10 lots selling to online participants, demonstrating how Phillips’ worldwide community of collectors have entrusted us with some of the world's finest collectors' watches as well as strong confidence and determination to buy such important pieces online.

Richard Mille Reference RM11-03 J.Todt, limited 830 edition blue Quartz TPT and carbon flyback chronograph wristwatch, numbered 46 of a limited edition of 150 pieces. Circa 2018. Estimate HK$ 1,500,000-2,800,000. Sold for HK$2,750,000.

Strong Prices Realized by Signed Jewels

Jewels and Jadeite realised HK$47 million, a 54% increase over the previous year’s sale. Signed jewels by some of the world’s most renowned jewellery houses such as Harry Winston, Bulgari, and Graff continue to realise strong prices, with a fine and classic diamond ring by Harry Winston realising HK$8.8 million.

Graeme Thompson, Worldwide Head of Jewellery, conducted the auction of a spectacular emerald and diamond ring, which achieved HK$9.2 million.

Graeme Thompson, Worldwide Head of Jewellery, Phillips, and Terry Chu, Head of Jewellery, Asia, Phillips, jointly said: “The results prove that the market for top quality gemstones and signed jewels remains resilient, and the sale percentage by lot and value demonstrates our sustained and steady growth in the region.

Harry Winston, A Fine and Classic Diamond Ring, Circa 1953. Estimate HK$6,800,000 - 8,800,000. Sold for HK$8,790,000.

An Exceptional and Very Rare Emerald and Diamond Ring. Estimate HK$ 7,500,000 - 9,500,000. Sold for HK$ 9,150,000.

The auction also saw a record number of online bidders from 20 countries/regions, with a 163% increase on the previous year, further proof that jewellery is one of the most popular collecting categories in Phillips’ digital saleroom. The sale was led by a spectacular emerald and diamond ring, which achieved HK$9.2 million. Signed jewels by some of the world’s most renowed jewellery houses such as Harry Winston, Bulgari, and Graff continue to realise strong prices, with a fine and classic diamond ring by Harry Winston realising HK8.8 million. In line with the growing interest in conch pearls from collectors worldwide, an elegant conch pearl diamond necklace by Karen Suen ignited confident bidding, eventually selling for HK1.7 million.

Steady Growth of Design

Phillips continues to lead the market in introducing the very best of Design to Asia. The Design category achieved a 100% sell-through rate yet again with this season's offering, which marked the first time a single-owner collection — coming from the esteemed collection of Hong Kong collector Kai-Yin Lo — was brought to market by Phillips Asia. This strong result reflects the steady growth of this collecting category across the region.

This season’s Pantone project in the Hong Kong exhibition curated by Chinese designer Li Naihan.

Record Number of Online Bidders

Record number of online bidders across all categories: The Hong Kong Watch Auction X saw a record number of 1,200 online bidders hailing from across 50 countries, the most in any live auction held by Phillips in Asia in company history. 93% of lots received online bids with 50% of timepieces and half of the top 10 lots selling to online participants. The 20th Century & Contemporary Art & Design Day Sale also saw the most online bidders in its category for Phillips Asia, with nearly 400 participants from 34 countries / regions vying for different works of art and design. In addition, the jewellery sale was greatly encouraged by the strong digital engagement with a sharp increase of 163% in online bidders from 20 countries/regions.

Discover More results from our Spring 2020 season >