Phillips’ Modern & Contemporary Art Spring Sales in Hong Kong Realize HK$296 Million/ US$38 Million, Marking a 22% Increase Over the Previous Season

Day Sale of Modern & Contemporary Art Realizes HK$86 Million/ US$11 Million

Evening Sale of Modern & Contemporary Art Realizes HK$210 Million/ US$26.8 Million, with Basquiat’s Seminal Work Becomes the Most Valuable Lot Sold at Auction in Hong Kong in H1 2024

Combined Total for Evening and Day Sales: HK$295,993,140/ US$37,857,522

Anastasia Salnikoff, Head of Day Sale, Modern & Contemporary Art, Phillips Hong Kong, said: “Continuing the momentum set in yesterday’s Evening Sale, we are pleased to see solid results for today’s Day Sale, concluding the season’s Modern & Contemporary Art Sales in Hong Kong. Asian Modern & Contemporary masters such as Zao Wou-Ki, Park Seo-Bo, Yoshitomo Nara and Yayoi Kusama led the sale, alongside strong sales for Western contemporary artists such as Guy Yanai, Kenny Scharf, Billy Childish and Derek Fordjour. Zao Wou-Ki’s 25.11.81 which has remained in the same private collection for four decades soared to 1.7 times its pre-sale estimate at HK$12 million/US$1.5 million, showing Phillips’ strength in having fresh work in our carefully sourced sales. Works by Yoshitomo Nara and Yayoi Kusama continue to be highly sought-after, with their iconic paintings featured in the Day Sale which all sold above their pre-sale estimates. The selection of pieces by the ‘Gutai’ group including Atsuko Tanaka, Sadamasa Motonaga and Kazuo Shiraga performed well, demonstrating our capabilities in this category. We look forward to our upcoming new cross-category auction in Hong Kong on 14 June offering an extensive selection of Editions, Photographs and Design by some of the world’s most celebrated artists, photographers and designers.”

Top 10 Lots

Lot

Description

Estimate

Price Achieved

149

Zao Wou-Ki, 25.11.81, 1981

HK$ 7,000,000 - 10,000,000
US$ 897,000-1,280,000

HK$11,945,000
US$1,527,766

136

Yoshitomo Nara, No Reason Why, 1995

HK$ 4,000,000 - 6,000,000
US$ 513,000-769,000

HK$4,826,000
US$617,245

137

Yayoi Kusama, Pumpkin, 1982

HK$ 3,200,000 - 4,200,000
US$ 410,000-538,000

HK$4,699,000
US$601,002

135

Yoshitomo Nara, O.T (N.G), 1993

HK$ 2,500,000 - 3,500,000
US$ 321,000-449,000

HK$3,810,000
US$487,299

138

Yayoi Kusama, Pumpkin, 2001

HK$ 3,000,000 - 4,000,000
US$ 385,000-513,000

HK$3,556,000
US$454,812

145

Park Seo-Bo, Ecriture No. 110507, 2011

HK$ 1,800,000 - 2,800,000
US$ 231,000-359,000

HK$3,429,000
US$438,569

128

Andy Warhol, Dollar Sign, 1981

HK$ 2,800,000 - 3,800,000
US$ 359,000-487,000

HK$3,048,000
US$389,839

134

Ayako Rokkaku, Untitled ARP19-016, 2019

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

HK$2,921,000
US$373,596

125

Derek Fordjour, One Up Two Down, 2016

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

HK$2,540,000
US$324,866

173

KAWS, PERFECTLY CLEAR, 2010

HK$ 2,500,000 - 3,500,000
US$ 321,000-449,000

HK$2,286,000
US$292,379