Beijing Spring Auction of Modern and Contemporary Chinese Art achieved RMB 114,902,500 / USD 18,625,695 (estimate in excess of RMB 85 million / USD 13.7 million*; 44 works sold, 85% sold by lot). The sale concluded a three-day series at the China World Summit Wing which showcased varying facets of modern and contemporary Chinese and Western arts.
Wen Guihua, President of Sothebys (Beijing) Auction Co. Ltd., said: We are thrilled with the results of Sothebys Beijing 2014 Spring Sale, which had been carefully curated by the companys unrivalled global network and attracted collectors and art lovers from across China and beyond. I am proud that the company continues to serve the art community within China by providing world-class collecting and educational opportunities.
Kevin Ching, Chief Executive Officer of Sothebys Asia, said: Over the past three days, our clients and significant numbers of prospective clients in China have responded enthusiastically to the rich, rewarding experience involving exhibitions, educational programs and auction. With this series, we have further demonstrated Sothebys ability to contribute to Beijings growing standing as an international platform for cultural exchange.
Top Lot Of The Sale
The sale was led by Zao Wou-Kis rare Sous bois dans la nuit from the artists 1950s Oracle Bone period. Six bidders competed extensively for the work before it sold to a client in the room for RMB 35,990,000 / USD 5,833,979 (Est. RMB 16 24 Million / US$2.58 3.86 Million). Strong prices were also achieved for iconic Modern works by Chu Teh-Chun and Wang Yidong, as well as for the Contemporary Chinese artists Liu Xiaodong, Zhao Bandi, Zhou Chunya and Mao Yan.