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Sotheby's Hong Kong 20th Century Chinese Art Fall Sale totals $24.6 million
Sanyu’s Potted Chrysanthemums sells for HK$30.9 million / US$3.96 million (Est. HK$20 – 30 million / US$2.6 – 3.8 million). Photo: Sotheby's.
HONG KONG.- Important works by prominent modern Chinese artists dominate Sotheby's Hong Kong 20th Century Chinese Art Fall Sale. The top-ten included:

Top Lot - Sanyu’s Potted Chrysanthemums sells for HK$30.9 million / US$3.96 million (Est. HK$20 – 30 million / US$2.6 – 3.8 million)

Wu Dayu’s Untitled - 37 sells for over HK$9 million / US$1.16 million multiplying the estimate (Est. HK$3.5 – 5 Million / US$448,700 – 640,000) an auction record for the artist.

Chu Teh-Chun’s Complexité Hivernale sells for HK$21.94 million / US$2.8 million more than doubling the estimate (Est. HK$10 - 16 million / US$1.2 – 2 million)

Zao Wou-Ki’s 22.3.61 sells for HK$15.22 million / US$1.95 million far exceeding the estimate (Est. HK$9.8 – 16 million / US$1.3 – 2 million)

All of the 11 lots by David Wu Ject-key sold mostly far above high estimates.

Sylvie Chen, Sotheby’s Head of 20th Century Chinese Art, said, “The 20th Century Chinese Art sale today achieved 90% sold by lot and 85.5% sold by value. Our international team of experts together with the continued support from private collectors assembled a comprehensive and exciting range of works from Europe, the United States and all over Asia. Highlights included Sanyu’s Potted Chrysanthemums, which sold for HK$30.9 million / US$3.96 million (Est. HK$20 – 30 million / US$2.6 – 3.8 million) and Chu Teh-Chun’s Complexité Hivernale, which sold for HK$21.94 million / US$2.8 million to more than double its presale estimate (Est. HK$10 - 16 million / US$1.2 – 2 million). Zao Wou-Ki’s 22.3.61 achieved HK$15.22 million / US$1.95 million, far exceeding the estimate of HK$9.8 – 16 million / US$1.3 – 2 million. Wu Dayu’s Untitled - 37 brought over HK$9 million / US$1.16 million, multiples of its estimate of HK$3.5 – 5 million / US$448,700 – 640,000, setting Auction Record For The Artist.

“In addition to these strong prices for the masters of 20th Century Chinese Art, this season we specially introduced 11 lots by David Wu Ject-Key, an often neglected artist who had been one of the earliest Chinese artists to study abroad, having spent time in North America. Collectors responded well and nearly all of the works on offer brought far above their pre-sale estimates.”

The sales of Fine Chinese Paintings and Important Watches will be held tomorrow at 10 am and 11 am respectively at the Hong Kong Convention and Exhibition Centre.

* Estimates do not include buyer’s premium

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