Asian art the star of Sotheby’s, Phillips and Poly Auction’s spring auctions in Hong Kong

Japanese artist Yoshitomo Nara occupied several top lots across three auctioneers’ contemporary art sales, with ‘In the Milky Lake’ selling for HK$85 million

Lots featuring Cartier jewellery, Picasso artworks and Japanese whisky also fetched millions, while one jadeite bangle set a world auction record

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An imperial falangcai “swallow” porcelain bowl, which sold for HK$170 million, is displayed at a Sotheby’s auction. Sotheby’s, Phillips and Poly Auction’s spring auctions saw Asian art shine in Hong Kong. Photo: Edmond So

Published: 6:03pm, 11 Apr 2023Updated: 10:14am, 3 Feb 2024

Asian art dominated a bumper spring auction season in Hong Kong, with Japanese artists Yoshitomo Nara and Yayoi Kusama and the late Chinese artist Zhang Daqian proving popular.

A highlight was Kusama’s Pumpkin (L) (2014), sold by Sotheby’s for HK$52 million (US$6.6 million) before fees against a presale estimate of HK$40 million-HK$60 million, setting an auction record for a Kusama sculpture.

Across all four of its modern and contemporary sales, Sotheby’s pulled in HK$1.4 billion, an increase from 2022’s HK$1.2 billion autumn sales total.

Alex Branczik, Sotheby’s chairman of modern and contemporary art, says the most recognisable difference was participation from mainland China.

Yayoi Kusama’s “Pumpkin (L)” (2014) sold for HK$52 million. Photo: Sotheby’s

“Hong Kong is back, but China is also back to the same levels that it was at pre-pandemic in terms of participation in the sales series,” says Branczik, adding that mainland Chinese buyers were active across the board.

Young bidders were also active, he says, with almost 30 per cent of bidders for Sotheby’s contemporary art sales being under the age of 39.

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