Press | Phillips

06 October 2023

Led by Yoshitomo Nara’s No Means No, Phillips’ Hong Kong Evening Sale of 20th Century & Contemporary Art Realizes HK$190 Million/ US$24.2 Million

 Led by Yoshitomo Nara’s No Means No, Phillips’ Hong Kong Evening Sale of 20th Century & Contemporary Art Realizes HK$190 Million/ US$24.2 Million

 


Phillips Asia Chairman and Auctioneer Jonathan Crockett selling lot 8, Yoshitomo Nara’s No Means No


Hong Kong, 6 March, 2023

Sale Total: HK$189,730,000/ US$24,285,440

 

Lots Sold: 22 | Lots Offered: 23

Sold by Lot: 96% | Sold by Value: 97%

 

Jonathan Crockett, Chairman, Asia, Phillips, said: “This evening’s result demonstrates our nimble approach in adapting to the current trends of the macro environment. Phillips continues to offer seminal works by Yoshitomo Nara and establish strong results for the artist. The Evening Sale was led by the fresh-to-the-market work No Means No which sold for HK$66 million/ US$8.4 million, marking the highest value work by the artist that sold across all auction houses during Hong Kong’s October auctions this week. Another highlight of the season was Nicolas Party’s Still Life with an Olive which realised HK$26 million/ US$3.3 million, commemorating the most expensive oil on canvas work and the third highest price achieved for a work by the artist at auction. We were also delighted to see such enthusiasm for artists who are lesser known in Asia, such as Miriam Cahn’s o.t. which soaring past its estimate to HK$2.3 million/ US$292,608 and achieved the artist’s highest result in Asia. In addition, works by artists born after 1970s were 100% sold, showcasing Phillips’ strength in offering sought after works by young and emerging talent across the world – from Hilary Pecis’s Untitled which rocketed to HK$7 million/US$894,080 – the third highest price for the artist at auction – to Ebecho Muslimova’s FATEBE SINKHOLE which more-than-tripling its estimate and setting a new auction record for the artist. Works by artists such as Chen Fei, Huang Yuxing and Issy Wood also receiving enthusiastic response from collectors, with all their works sold higher than their pre-sale estimates.”

 

 

Top 10 Lots

Lot

Description

Estimate

Price Achieved

8

Yoshitomo Nara, No Means No, 2006

HK$ 52,000,000 - 72,000,000
US$ 6,670,000-9,230,000

HK$65,530,000
US$8,387,840

7

Nicolas Party, Still Life with an Olive, 2012-2013

HK$ 26,000,000 - 40,000,000
US$ 3,330,000-5,130,000

HK$25,860,000
US$3,310,080

10

Liu Ye, The End of Baroque, 1998

HK$ 18,000,000 - 28,000,000
US$ 2,310,000-3,590,000

HK$22,230,000
US$2,845,440

11

Gerhard Richter, Abstraktes Bild (456-2), 1980

HK$ 7,500,000 - 12,000,000
US$ 962,000-1,540,000

HK$11,340,000
US$1,451,520

4

Hilary Pecis, Untitled, 2022

HK$ 5,500,000 - 7,500,000
US$ 705,000-962,000

HK$6,985,000
US$894,080

14

Chu Teh-Chun, No. 164, 1963

HK$ 6,000,000 - 10,000,000
US$ 769,000-1,280,000

HK$6,350,000
US$812,800

21

Hernan Bas, The dead line, 2011

HK$ 5,000,000 - 7,000,000
US$ 641,000-897,000

HK$6,350,000
US$812,800

9

Zhang Xiaogang, Bloodline Series - Father and Daughter, 2005

HK$ 5,500,000 - 7,500,000
US$ 705,000-962,000

HK$5,715,000
US$731,520

15

Zao Wou-Ki, 20.8.84,1984

HK$ 4,800,000 - 6,800,000
US$ 615,000-872,000

HK$ 5,080,000
US$650,240

16

Zeng Fanzhi, Untitled 07-3, 2007

HK$ 6,000,000 - 9,000,000
US$ 769,000-1,150,000

HK$4,953,000
US$633,984

 

New Auction Records

Lot

Description

Estimate

Price Achieved

1

Ebecho Muslimova, FATEBE SINKHOLE, 2020

HK$250,000 - 450,000
US$32,100-57,700

HK$889,000

US$113,792

 

*previous record price: US$1,260, December 2022


Images: https://www.dropbox.com/scl/fo/ndize3i3m30hjuqnmmmxn/h?rlkey=vvcxgt24vrcvtd9znywabvosl&dl=0  

 

ABOUT PHILLIPS

Phillips is a leading global platform for buying and selling 20th and 21st century art and design. With dedicated expertise in the areas of 20th Century and Contemporary Art, Design, Photographs, Editions, Watches, and Jewelry, Phillips offers professional services and advice on all aspects of collecting. Auctions and exhibitions are held at salerooms in New York, London, Geneva, and Hong Kong, while clients are further served through representative offices based throughout Europe, the United States and Asia. Phillips also offers an online auction platform accessible anywhere in the world.  In addition to providing selling and buying opportunities through auction, Phillips brokers private sales and offers assistance with appraisals, valuations, and other financial services. Visit www.phillips.com for further information.


*Estimates do not include buyer’s premium; prices achieved include the hammer price plus buyer’s premium.

 

PRESS CONTACTS:            

HONG KONG – Ingrid Hsu, Public Relations & Communications Director, Asia  Ingridhsu@phillips.com  +852 2318 2043
HONG KONG – Jiayi Zhang, Public Relations Coordinator  Jiayizhang@phillips.com  +852 2318 2080

 

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