Subject: SLS
Sotheby's Autumn 2017 Hong Kong Sales Achieve $404 Million - 42% Increase Year-Over-Year -
HONG KONG, Oct. 3, 2017 /PRNewswire/ -- Sotheby's (NYSE: BID) Autumn 2017 Hong Kong auction series achieved a grand total of $404 million, against a low estimate of $309 million* and with a combined sell-through rate of 86%.
"Strong results this week in Hong Kong capped off more than a month of client events and exhibitions hosted by our outstanding team in Asia, including Shanghai, Beijing, Singapore, Taipei, Seoul and Tokyo," said Sotheby's President and CEO Tad Smith. "Bidding and buying from the Mainland throughout the week was meaningful, with the majority of our top ten lots selling to buyers in China. Their participation helped to drive a 42% increase in sales compared to one year ago and bring our annual total for major auctions in Hong Kong to over $810 million, the highest level since 2014."
Top prices achieved spanned centuries and categories with sixteen auctions records established:
- A Highly Important and Extremely Rare Ru Guanyao Brush Washer
Northern Song Dynasty
Sold for $37.7 million
World Auction Record for Chinese Ceramics
- Li Keran's Magnificent Mountains with Gushy Cascades, 1978
Sold for $15.6 million
- Yun Gee's Wheels: Industrial New York, 1932
Sold for $13.5 million
Record for the Artist at Auction
- Fu Baoshi, Trekking over Mountains in Moonlight
Sold for $11.9 million
- Very Rare and Impressive Ruby and Diamond Ring, Designed and Mounted by BHAGAT
Sold for $10.5 million
- A Rare and Important Imperial White Jade and Cloisonné Enamel Ram-Head Teapot & Cover
Qing Dynasty, Qianlong Period
Sold for $9.7 million
Record for a Jade Carving at Auction
- Wine Auctions Total $9.2 million
Wines from the Cellar of FUX Restaurant Sold for $3.8 million
- An Extremely Fine and Rare Blue and White 'Bajixiang' Bowl and Cover
Marks and Period of Xuande
Sold for $6.6 million
- Gerhard Richter's Abstraktes Bild (679-2), 1988
Sold for $6.3 million
- An Exceptional Blue and White 'Makara' Jar
Mark and Period of Xuande
Sold for $4.5 million
- An Outstanding and Extremely Rare Gilt-Bronze Dancing Figure of Tara Pitti Uddiyana
Incised Mark and Period of Xuande
Sold for $3.8 million
- A Fine, Superb and Rare Blue and White 'Fruit' Meiping
Ming Dynasty, Yongle Period
Sold for $3.5 million
- A Sapphire Tonneau-Form Skeletonized Tourbillon Wristwatch RM56-02 by Richard Mille
Sold for $1.9 million
*Estimates do not include buyer's premium. Prices achieved include the hammer price plus buyer's premium and are net of any fees paid to the purchaser where the purchaser provided an irrevocable bid.
About Sotheby's
Sotheby's has been uniting collectors with world-class works of art since 1744. Sotheby's became the first international auction house when it expanded from London to New York (1955), the first to conduct sales in Hong Kong (1973), India (1992) and France (2001), and the first international fine art auction house in China (2012). Today, Sotheby's presents auctions in 10 different salesrooms, including New York, London, Hong Kong and Paris, and Sotheby's BidNow program allows visitors to view all auctions live online and place bids from anywhere in the world. Sotheby's offers collectors the resources of Sotheby's Financial Services, the world's only full-service art financing company, as well as the collection advisory services of its subsidiary, Art Agency, Partners. Sotheby's presents private sale opportunities in more than 70 categories, including S|2, the gallery arm of Sotheby's Global Fine Art Division, and two retail businesses, Sotheby's Diamonds and Sotheby's Wine. Sotheby's has a global network of 80 offices in 40 countries and is the oldest company listed on the New York Stock Exchange (BID).
New York | +1 212 606 7176 | Lauren Gioia | [email protected] |
Dan Abernethy | [email protected]
SOURCE Sotheby's
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