New Auction Records Set for Michaela Yearwood-Dan, William Monk, Trey Abdella, Sarah Slappey, Raghav Babbar and Ilhwa Kim
Hong Kong, 30 November – 1 December, 2022
Evening & Day Sales Combined Total: HK$350,852,120/ US$44,961,492
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HONG KONG –1 December 2022 – Phillips’ Hong Kong 20th Century & Contemporary Art & Design Sales in Association with Yongle Auction achieved a total of HK$350 Million/ US$45 Million on 30 November and 1 December. Leading the Evening sale was Gerhard Richter’s Abstraktes Bild (774-1) which sold for over HK$89 million/ US$11 million. The Evening and Day sales both included a strong representation of women artists, with several of those works featuring in the top ten prices achieved for each sale, highlighting works by Yayoi Kusama, Loie Hollowell, María Berrío, Ewa Juszkiewicz, and more. Phillips takes pride in its reputation as a leading auction house that focuses on bringing works by talented young artists across the world to Asia and outstanding results were achieved for auction newcomers who made their Hong Kong market debut across Evening and Day sales, including, a new record for Michaela Yearwood-Dan with What's the Use in Yearning realising over HK$ 3 million/ US$387,677, nine times the high estimate.
Jonathan Crockett, Chairman, Asia, Phillips, said: “With strong sell-through rates of 99% sold by value and 97% sold by lot showed solid demand, this evening we saw spirited bidding from participants taking part in the Evening Sale from across the world. This season’s result is testament to the strength of the market and confirms the continued and unwavering confidence of collectors. The prices achieved for works by blue-chip and emerging artists alike reaffirms the global collecting appetite for exciting, curated sales featuring cutting edge and celebrated modern and contemporary art side by side. I would like to thank both the Phillips and Yongle teams for their hard work promoting these sales together over the last few months. I am looking forward to welcoming our international community of collectors and connoisseurs to our cutting-edge and spectacular new Phillips’ Asia headquarters in Hong Kong’s West Kowloon Cultural District which is expected to open in Spring 2023. And I am particularly excited about increasing our capabilities to present more programmes in the city as we will have a permanent purpose-built exhibition space and saleroom in Hong Kong.”
Zhao Xu, Founder of Yongle Culture, said: “We are delighted to see the joint sales in Hong Kong presented by Yongle and Phillips achieve an excellent result with a grand total of HK$350 million/ US$45 million and set world auction records for multiple talented young artists. Many seminal works in the Evening Sale were never-before offered at auction and the result generated this evening demonstrates the demand for high-quality works remain resilient. Two sides have been working closely over the last few months, from touring exhibitions to marketing, we fully utilized each other’s resources and expertise. In the upcoming Evening Sale in Beijing, we will continue to collaborate with each other, and we look forward to presenting a strong sale to collectors in the region. Lastly, Yongle will continue its international expansion with the aim of becoming a platform to foster cultural exchange between East and West. We are planning to open new branches in Hong Kong and Singapore soon and offering higher quality of services to a wider community of art enthusiasts and collectors.”
20th Century & Contemporary Art Evening Sale
Sale Total: HK$262,107,500 / US$33,602,181
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Lots Sold: 32 | Lots Offered: 33 |
Sold by Lot: 97% | Sold by Value:99 % |
Top 10 Lots
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Description |
Estimate |
Price Achieved |
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8 |
Gerhard Richter, Abstraktes Bild (774-1), 1992 |
HK$80,000,000 - 120,000,000 US$10,260,000-15,380,000 |
HK$89,375,000 US$11,457,875 |
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21 |
Yoshitomo Nara, Nachtwandern, 1994 |
HK$16,000,000 - 25,000,000 US$2,050,000-3,210,000 |
HK$19,005,000 US$2,436,441 |
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12 |
Yayoi Kusama, INFINITY-NETS (GMBKA), 2013 |
HK$12,000,000 - 1,8000,000 US$1,540,000-2,310,000 |
HK$12,592,000 US$1,614,294 |
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7 |
Loie Hollowell, Split Orbs in gray-brown, yellow, purple and carmine, 2021 |
HK$4,000,000 - 6,000,000 US$513,000-769,000 |
HK$12,350,000 US$1,583,270 |
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14 |
Zao Wou-Ki, 14.10.69., 1969 |
HK$8,000,000 - 12,000,000 US$1,030,000-1,540,000 |
HK$11,745,000 US$1,505,709 |
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15 |
Yayoi Kusama, Gold Accumulation (1), 1999 |
HK$8,000,000 - 12,000,000 US$1,030,000-1,540,000 |
HK$9,930,000 US$1,273,026 |
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3 |
María Berrío, The Lovers 2, 2015 |
HK$4,000,000 - 6,000,000 US$513,000-769,000 |
HK$9,930,000 US$1,273,026 |
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23 |
KAWS, HOT SEAT JUNCTION, 2010 |
HK$7,500,000 - 10,000,000 US$962,000-1,280,000 |
HK$8,599,000 US$1,102,392 |
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10 |
Damien Hirst, Forgiven, 2008 |
HK$6,000,000 - 9,000,000 US$769,000-1,150,000 |
HK$7,510,000 US$962,782 |
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13 |
Lee Ufan, From Point No. 77103, 1977 |
HK$8,000,000 - 12,000,000 US$1,030,000-1,540,000 |
HK$7,207,500 US$924,002 |
New Auction Records
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Description |
Estimate |
Price Achieved |
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1 |
Michaela Yearwood-Dan, What's the Use in Yearning, 2021 |
HK$250,000 - 350,000 US$32,100-44,900 |
HK$3,024,000 US$387,677 |
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*previous record price: £239,400, October 2022 |
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William Monk, Far-Out III, 2013 |
HK$800,000 - 1,200,000 US$103,000-154,000 |
HK$2,520,000 US$323,064 |
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*previous record price: US$176,400, March 2022 |
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28 |
Trey Abdella, Sunny Days, 2020 |
HK$700,000 - 900,000 US$89,700-115,000 |
HK$3,024,000 US$387,677 |
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*previous record price:HK$2,646,000, June 2022 |
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32 |
Sarah Slappey, Black Pearls II, 2020 |
HK$300,000 - 500,000 US$38,500-64,100 |
HK$1,008,000 US$129,226 |
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*previous record price: US$100,800, March 2022 |
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35 |
Raghav Babbar, Off Duty, 2020 |
HK$150,000 - 250,000 |
HK$5,040,000 |
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*previous record price: £403,200, October 2022 |
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20th Century & Contemporary Art & Design Day Sale
Sale Total: HK$88,744,620 / US$11,359,311
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Lots Sold: 128 | Lots Offered: 152 |
Sold by Lot: 84% | Sold by Value: 80% |
Auctioneer Danielle So conducting the 20th Century & Contemporary Art & Design Day Sale
Top 10 Lots
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Lot |
Description |
Estimate |
Price Achieved |
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218 |
Zao Wou-Ki, Sans titre, 2007 |
HK$4,000,000 - 6,000,000 US$513,000-769,000 |
HK$5,922,000 US$758,016 |
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211 |
Yayoi Kusama, Red Shoe, 1979 |
HK$3,000,000 - 5,000,000 US$385,000-641,000 |
HK$4,914,000 US$628,992 |
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103 |
Ewa Juszkiewicz, Untitled, 2017 |
HK$3,000,000 - 4,000,000 US$385,000-513,000 |
HK$4,032,000 US$516,096 |
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233 |
Bernard Buffet, Torero rose, 1960 |
HK$ 1,600,000 - 2,500,000 US$ 205,000-321,000 |
HK$3,528,000 US$451,584 |
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212 |
Yayoi Kusama, Pumpkin Chess Set, 2003 |
HK$2,400,000 - 4,000,000 US$308,000-513,000 |
HK$3,024,000 US$387,072 |
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207 |
Ayako Rokkaku, Untitled ARP20-013, 2020 |
HK$ 1,500,000 - 2,500,000 US$ 192,000-321,000 |
HK$2,898,000 US$370,944 |
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161 |
Hajime Sorayama, Sexy Robot_Floating, 2019 |
HK$ 1,000,000 - 2,000,000 US$ 128,000-256,000 |
HK$2,268,000 US$290,304 |
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119 |
George Condo, Femme au chapeau, 2007 |
HK$2,200,000 - 3,800,000 US$282,000-487,000 |
HK$2,016,000 US$258,048 |
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162 |
Mr., In the Midst of a Dream, 2016 |
HK$800,000 - 1,200,000 US$103,000-154,000 |
HK$1,890,000 US$241,920 |
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235 |
Zeng Fanzhi, Untitled 08-4-1, 2008 |
HK$1,600,000 - 2,400,000 US$205,000-308,000 |
HK$1,764,000 US$225,792 |
New Auction Records
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Lot |
Description |
Estimate |
Price Achieved |
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113 |
Ilhwa Kim, Tuner’s Notes, 2022 |
HK$300,000 - 400,000 US$38,500-51,300
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HK$1,008,000 US$129,024 |
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*previous record price: €800, April 2022 |
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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 and Communications Director, Asia Ingridhsu@phillips.com
HONG KONG – Jiayi Zhang, Public Relations Coordinator Jiayizhang@phillips.com
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