Christie's Asia Headquarters Debuts Amid Market Challenges
Christie's Asia Headquarters Inauguration
On September 26, Christie's unveiled its new Asia headquarters at The Henderson in Hong Kong, kicking off with an evening sale of 20th and 21st-century art. However, it fell short of expectations amid economic challenges.
Low Performance of Iconic Lots
- The top lot, Les canots amarrés (1887) by Vincent van Gogh, sold for HK$215 million, below its estimated price.
- Despite a vibrant auction atmosphere, bidding was slow, showing mixed interest.
Shifts in the Art Market
Art adviser Alexandre Errera noted that while Western art is still appealing, the market is undergoing adjustments. Christie’s recent auctions in Asia have seen declining sales, indicating a broader cooling in the art market.
A Diverse Auction Experience
A notable moment occurred when Nymphéas (1897-1899) by Claude Monet drew significant attention, selling at HK$200 million, while Zao Wou-Ki's 05.06.80 – Triptyque sold for HK$80 million.
Optimism Despite Challenges
Christie’s Asia-Pacific president, Francis Belin, reported a strong sale rate with 93% of lots sold, demonstrating resilience in the face of economic headwinds.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.