Strong Interest In Contemporary Western Art In Asia

Last week in Hong Kong Sotheby’s again broke through their estimates for a selection of iconic contemporary artworks. The results also confirmed that there is strong market interest for contemporary western art in Asia.

Commenting on the auction, Isaure de Viel Castel, Head of Boundless Sales, said: “Continuing the great momentum from the previous sale in January, we welcomed a group of enthusiastic collectors who embraced the Boundless concept by competing intensely for the diverse range of Western and Asian art on offer, driving nearly 60% of the lots to sell above high estimate.

The strong market interest for works by prominent Western artists continues. Works by Keith Haring performed exceptionally well, among which Untitled (1983) became the top lot of the sale achieving HK$4.16 million, four times its pre-sale estimate; while Dog (1986) attracted fierce competition from 10 bidders, fetching HK$3.2 million, almost six times the pre-sale estimate.

Works by Asian artists such as Yayoi Kusama were highly sought after, as were many of the design pieces, among which the specially- curated designer lamps section was 100% sold. With the strong results achieved, we look forward to bringing more iconic modern and contemporary art pieces – both Western and Asian – to discerning collectors in the region who wish to infuse art into the everyday life.”

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