Fall Auction Highlights

2024 Fall Auction.

Updated: 10/17/2024

September 26,27. Christie’s Inaugural Auction at New Hong Kong Headquarters: A Mixed Bag of Results.

An enthusiastic crowd armed with camera phones capture the moment of auctioneer Adrien Meyer selling Claude Monet’s Nymphéas at Christie’s Hong Kong 20th/21st Century Art Inaugural Evening Sale at the Henderson on September 26, 2024. (Courtesy of Artnet)

Last week, Christie’s celebrated the grand opening of its new Asian headquarters at the Henderson in Hong Kong’s Central district with a highly anticipated inaugural evening auction. The event featured two back-to-back sales, showcasing a range of works, though results varied between categories.

The first auction was a white-glove sale of the prestigious Au Bak Ling collection of Chinese ceramics, which exceeded expectations with total sales reaching HK$87 million ($11.2 million), significantly surpassing its presale high estimate. In contrast, the second sale, the 20th/21st Century Inaugural Evening Sale, did not perform as strongly, falling short of its lower presale estimate.

Among the highlights was Vincent van Gogh’s “Les Canots Amarrés” (1887), which fetched HK$250.6 million ($32.4 million), setting a new Asian auction record for the artist. Similarly, an early Claude Monet “water lilies” painting sold for HK$180 million ($23 million), falling below its low estimate of HK$200 million ($25 million). Other notable sales included Zao Wou-Ki’s “05.06.80 – Triptyque” (1980) and Kim Whan-Ki’s “9-XII-71 #216” (1971), both hammering above their estimates.

Despite some lukewarm responses, the sale established new records for several artists, including Filipino artist Ronald Ventura and Chinese-French artist Lalan. The auction highlighted Christie’s strategic focus on well-established artists from both Asia and the West, steering clear of ultra-contemporary figures, which marked a notable shift from previous years.

Vincent van Gogh, Les canots amarrés (1887). Courtesy Christie’s Image Ltd.

In summary, the evening concluded with total sales of HK$1.04 billion ($134 million), a considerable increase from last year’s HK$694 million ($89 million). With a sell-through rate of 87 percent, this inaugural auction sets a promising tone for Christie’s new chapter in Hong Kong’s vibrant art scene.

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