HONG KONG.- China Guardian
Spring Auctions 2018 concluded in Beijing on 22 June with remarkable results. 42 sales over 5 days brought a total of RMB 2.036 billion / US$ 318.13 million*. 8 white glove sales were recorded and 2 lots soared over RMB 100 million / US$ 15.62 million. Such results mark the trust and support of old and new clients for the 25-year-old Beijing-based auction house and are received as a signs of a robust and healthy art market.
Ms. Hu Yanyan, Director and President of China Guardian Auctions Co. Ltd, says, The results of our Spring Sales indicate that the art market is robust and healthy. We saw changes in the market structure, with new buyers coming in and snapping up high-value lots with great enthusiasm while existing buyers remain active. Our offerings of both mainstream and niche collecting categories all fared well. In particular Rare Books broke the RMB 100 million mark for the first time and 12 lots of 20th Century and Contemporary Art achieved over RMB 10 million. The top three lots of the five-day sales are Li Kerans Thousands of Mountains (RMB 126.5 million / US$ 19.77 million), Shi Bi Jing She Yin Zhu Tang Shu Xiang Jie (a Song dynasty version of Pronunciation and Abstract of the New Book of Tang from Shibi Jingshe, RMB 110.4 million / US$ 17.25 million), and Qian Weichengs album of Flora (RMB 66.7 million / US$ 10.42 million). Despite the perceived decrease in capital fluidity in the market, collectors and investors remain passionate and confident. They are increasingly rational and selective with their purchases and remain ready to splurge when rare and important pieces emerge.
TOP TEN LOTS
Lot 376 Li Keran (1907 1989) Thousands of Mountains Hanging scroll, ink on paper 180 × 97 cm Sold for RMB 126.5 million / US$ 19.77 million
Lot 2252 Edited by Chen Jian, Shi Bi Jing She Yin Zhu Tang Shu Xiang Jie 51 Volumes, paper 9.4 × 6.5 cm Sold for RMB 110.4 million / US$ 17.25 million
Lot 404 Qian Weicheng ( 1720 1772) Flora Album, colour and ink on paper 27.5 × 37 cm Sold for RMB 66.7 million / US$ 10.42 million
Lot 2630 An extremely rare Qianlong Imperial Blue and White Vase with Yangcai The Peach Blossom Qianlong seal mark and of the period (17361795) Sold for RMB 50.6 million / US$ 7.91 million
Lot 1836 Zhou Chunya (b. 1955) Chinese Stone Oil on canvas 149.5 x 129 cm Sold for RMB 43.7 million / US$ 6.83 million
Lot 371 Qi Baishi (1864 1957) Offering Framed, ink and colour on paper 67.5 x 132.5 cm Sold for RMB 40.25 million / US$ 6.29 million
Lot 1839 Zhang Xiaogang (b.1958) Bloodline: The Big Family No. 1 Oil on canvas 149 x 189.5 cm Sold for RMB 40.25 million / US$ 6.29 million
Lot 317 Xu Beihong (1895 1953) Three Horses in the Autumn Woods Ink and colour on paper 91 x 180.5 cm Sold for RMB 34.5 million / US$ 5.39 million
Lot 409 Zhu Da (1626 1705) Plum Hanging scroll, ink on paper 125 x 34 cm Sold for RMB 34.5 million / US$ 5.39 million
Lot 1853 Jin Shangyi (b. 1934) Monk Painter Kun Can Oil on canvas 150.5 x 114 cm Sold for RMB 28.75 million / US$ 4.49 million
* All numbers in US dollars are calculated based on a conversion rate of RMB 6.4 = US$ 1.