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First sale of Asian 20th Century and Contemporary Art in Bonhams' new saleroom registers solid results
The top lot, an iconic oil on canvas triptych ‘Red, Yellow and Blue’ by famed contemporary Chinese artist Liu Ye sold at the high estimate for HK$6,040,000 to a Taiwanese collector. Photo: Bonhams.

HONG KONG.- The first sale at the new Bonhams Hong Kong Auction Gallery at Suite 2001, One Pacific Place, Admiralty on 17 May went off to a flying start, launching a new era of auctioneering in Asia. Bonhams is the world’s third largest international fine art auction house.

The purpose built Gallery designed by award winning UK architects Lifschutz Davidson Sandilands sets a new standard for auctioning art in the Asia region, and includes unprecedented technical features to provide uniquely flexible open space immediately adaptable to accommodate auctions, lectures, private previews and public events in one of Hong Kong’s most prestigious buildings.

The Gallery incorporates sophisticated details included on a larger scale in the London award winning auction house on New Bond Street featuring spectacular lighting flexibility, space which can accommodate an international-scale auction or a private dinner and enables staff and objects to remain on site at all stages of the consignment and cataloguing process.

The saleroom was packed with Contemporary Art collectors based in Asia and keen bidding in the room and on the telephone drove the sale to a successful conclusion with 84% sold by value. The top lot, an iconic oil on canvas triptych ‘Red, Yellow and Blue’ by famed contemporary Chinese artist Liu Ye sold at the high estimate for HK$6,040,000 to a Taiwanese collector.

Two bronze sculptures ‘Single Whip Dip’ and ‘Taichi Series’ by Taiwanese modern master Ju Ming sold for HK$1,720,000 and HK$1,060,000 respectively to a Hong Kong collector.

The increasing popularity of South East Asian art is evident at the sale, with strong interest shown and results achieved for the carefully selected grouping of artworks. The late Indonesian master Hendra Gunawan’s ‘Ibu dan Anak-Anak’ oil on canvas painting went to a Singapore collector for HK$1,360,000, while promising Filipino artist Geraldine Javier’s vitrines with embroidery diptych ‘Duck in Pineapple Sauce’ sold at twice its estimate to the tune of HK$312,500 to a Hong Kong collector.

Commenting on the sale, Bonhams North America’s Director of Asian Works of Art Dessa Goddard said, 'We are delighted with our new state-of-the-art auction Gallery and pleased with the sale results. Hong Kong is the centre of the Contemporary Asian art market, and Bonhams is working to expand its presence in this exciting and critically important area of our business.'

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