Growing, growing and far from gone
The rise and rise of Hong Kong's stature as a key player in the international auction scene, all through the most challenging months of the pandemic, augurs well for the city's future as a pre-eminent, world-class arts hub. Joyce Yip reports.
By Joyce Yip |
HK EDITION |
Updated: 2021-09-17 13:39
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The chart-busters
According to Artmarket.com, the first quarter of 2021 saw Hong Kong's auction market net a total of $962 million from selling 3,200 fine-art lots, making the average price of artworks sold at auctions around $300,000 - a figure far exceeding that of London and New York, at $32,000 and $41,000 respectively. Headline-making sales include Basquiat's Warrior, which sold for $41,000 at Christie's in Hong Kong, making it the most expensive Western artwork ever sold in Asia. Missing in Action by Yoshitomo Nara sold at Phillip's Hong Kong for over $15 million, the second-highest price the artist has earned from an auction.
