Press | Phillips

29 March 2024

Phillips’ New Now Auction in Hong Kong Realises HK$ 24 Million / US$ 3.1 Million

 

 

Phillips’ New Now Auction in Hong Kong Realises HK$ 24 Million / US$ 3.1 Million

 

Marking a 30% Increase Over the Previous Season

 


Auctioneer Danielle So selling lot 23, Yoshitomo Nara’s Untitled


Hong Kong, 29 March, 2024

Sale Total: HK$24,389,080/ US$3,116,924

 

Lots Sold: 64 | Lots Offered: 77 

                            Sold by Lot: 83% | Sold by Value: 91%

 

Angela Tian, Head of New Now Sale, Phillips Hong Kong, said, “The results from today’s sale confirm a vibrant and resilient art market as we begin the 2024 spring season. With strong sell-through rates of 91% by value and 83% by lot, our second New Now sale in Hong Kong achieved over HK$24 million/ US$3.1 million, marking a 30% increase from the inaugural New Now last November. The sale was led by two Yoshitomo Nara’s works on paper, consistent with the artist’s ever-growing demand, with further standout results including Salvo, whose Agosto soared to over HK$1.07 million/ US$137,960 against a low estimate of HK$400,000/ US$51,300. Emerging and young artists also received an enthusiastic response, with strong prices achieved for Roby Dwi Antono, Yang Hyun Jun, Jonathan Chapline and Kitti Narod. We have always prided Phillips’ New Now sales on their ability to place auction newcomers alongside those with time-tested careers and collectors’ confidence and support of this is evidence by works by Alan Chan, Buyankhishig Unurbayar and Ni Zhiqi who marked their auction debut this season all surpassed pre-sale estimates. We were pleased to see continued support from collectors across bidding platforms, with the sale overall seeing bidders from across 38 countries worldwide. We look forward to our marquee sales in Hong Kong on 31 May and 1 June.”

 

 

Top 10 Lots

Lot

Description

Estimate

Price Achieved

23

Yoshitomo Nara, Untitled, 2007

HK$800,000 - 1,200,000
US$103,000-154,000

HK$1,905,000
US$243,459

39

Yoshitomo Nara, Untitled, 1995

HK$700,000 - 900,000
US$89,700-115,000

HK$1,651,000
US$210,998

24

Ayako Rokkaku, Untitled ARP1, 2007

HK$2,000,000 - 3,000,000
US$256,000-385,000

HK$1,524,000
US$194,767

22

Mr., Untitled, 2020-2023

HK$1,000,000 - 2,000,000
US$128,000-256,000

HK$1,206,500
US$154,191

2

Salvo, Agosto, 2009

HK$400,000 - 600,000
US$51,300-76,900

HK$1,079,500
US$137,960

37

Zhang Xiaogang, Bloodline Series No. 28, 1997

HK$800,000 - 1,200,000
US$103,000-154,000

HK$1,016,000
US$129,845

34

Ding Yi, Appearance of Crosses 2019-15, 2019

HK$700,000 - 1,000,000
US$89,700-128,000

HK$1,016,000
US$129,845

44

Javier Calleja, So it Is, 2018

HK$500,000 - 700,000
US$64,100-89,700

HK$1,016,000
US$129,845

29

Takashi Murakami, Untitled, 2016

HK$800,000 - 1,200,000
US$103,000-154,000

HK$762,000
US$97,384

40

Yoshitomo Nara, Girl, 1999

HK$300,000 - 500,000
US$38,500-64,100

HK$762,000
US$97,384


Images: https://www.dropbox.com/scl/fo/6xkmirjiqahhr54b53qaf/h?rlkey=ayme1rdi2zkbibjhswtaco2l7&dl=0

 

Exchange Rate on 29 March 2024: HK$1= US$0.1278

 

ABOUT PHILLIPS

Phillips: where the world’s curious and bold connect with the art, design and luxury that inspires them. As a leading global platform for buying and selling 20th and 21st century works, Phillips offers dedicated expertise in the areas of Modern and Contemporary Art, Design, Photographs, Editions, Watches, and Jewelry. Auctions and exhibitions are primarily held in New York, London, Geneva, and Hong Kong, with representative offices based throughout Europe, the United States and Asia. Phillips offers a regular selection of live and online auctions, along with items available for immediate purchase. Phillips also offers a range of services and advice on all aspects of collecting, including private sales and assistance with appraisals, valuations, and financial planning.Visit 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

 

PHILLIPS NEW YORK – 432 Park Avenue, New York, NY 10022

PHILLIPS LONDON – 30 Berkeley Square, London, W1J 6EX

PHILLIPS HONG KONG – G/F, WKCDA Tower, West Kowloon Cultural District, No. 8 Austin Road West, Kowloon, Hong Kong

PHILLIPS GENEVA - Rue de la Confédération, 7 Geneva 1204