HONG KONG.- Phillips Evening Sale of 20th Century & Contemporary Art & Design in Hong Kong achieved strong results, selling 90% by lot and 72% by value. The strength of the result demonstrated the success of Phillips pioneering and innovative strategy of offering the very best works by international artists at auction in Asia, with eight of the top ten lots selling to Asian buyers. Online bidding was extremely active throughout the auction with 15% of the lots going to mobile and online bidders, showcasing the strength of Phillips' market-leading digital platform. New auction records were set including those for George Condo, Henry Moore, Wolfgang Tillmans and Georg Baselitz at auction in Asia. Leading the sale was George Condos Girl with Blue Dress, bought by a private Asian collector for HK$12,100,000. teamLabs Universe of Water Particles marked the first time a digital work by the artist collective was offered at auction and saw widespread international bidding. Design achieved outstanding results, with the majority of lots selling above their high estimates, including a pair of armchairs by Finn Juhl, which established a world auction record for the model no. FJ45. In only three seasons since the inaugural sale of 20th Century & Contemporary Art & Design in Hong Kong, the solid results reaffirm Phillips expanding presence and growth across the globe.
Edward Dolman, CEO of Phillips and Lilly Chan, Managing Director, Asia said: The strong results of our fall auctions in Hong Kong consolidate our position as a key player in this important and dynamic market. The increased international participation across the sales of art, design, jewellery and watches show a highly interconnected and fluid global market. We saw an almost 10% increase in Asian collectors year-on-year, demonstrating our consistent trajectory of growth in the region.
Jonathan Crockett, Deputy Chairman, Asia and Head of 20th Century & Contemporary Art, Asia, said: Phillips distinctive format of 20th century and contemporary art, design, jewellery and watches continues to resonate with collectors in Asia and across the world. Our refined and tightly curated offerings attracted worldwide interest across 50 countries, saw an 81% increase in online buying year-on-year, as well as numerous records and notable prices achieved for international works of art, design and watches. We look forward to further growing our presence in 2018 and beyond.
JEWELS AND JADEITE | 27 NOVEMBER 2017
SALE TOTAL: HK$90,273,750 / US$11,573,095
The auction of Jewels and Jadeite achieved a 128% increase in value from the inaugural auction of Jewels in November 2016, and a 30% increase on May 2017. This sustained and steady growth demonstrates Phillips expanding presence in the region, with eight of the top ten lots selling to private Asian collectors in Asia. Phillips welcomed spirited bidding for signed vintage and contemporary jewels by some of the worlds leading houses, notably Boucheron, Bulgari, Cartier, Chaumet, Tiffany & Co. and Van Cleef & Arpels. High quality coloured stones were particularly sought after with three lots surpassing the US$1 million mark, including the top lot of the sale a Burmese ruby and diamond necklace, which achieved HK$10.3 million. Phillips is committed to further building our jewellery platform internationally.
THE HONG KONG WATCH AUCTION: FIVE | 28 NOVEMBER 2017
SALE TOTAL: HK$109,598,750 / US$14,039,600
Phillips, in Association with Bacs & Russo, concluded the fall sales in Hong Kong with the highest sale total for any watch auction held in Asia in 2017, selling 93% by lot and 98% by value, and continuing its position as global market leader. Particularly strong results were achieved for Patek Philippe, with the reference 2523 World-Time establishing a new record for the highest result ever achieved for any wristwatch sold at auction in Asia. Following on from the record-breaking success of Phillips watch sales in New York and Geneva, Phillips ends the global watch auction year with its highest ever annual total in the category with over US$110 million.