Phillips - Modern & Contemporary Art Day Sale
June 1st, 2024 - Hong Kong
Executive Summary
The Phillips Modern & Contemporary Art Day Sale presented 120 lots, with 97 successfully sold, resulting in a sell-through rate of 80.8%. The total auction value, including buyer's premium, reached HK$85.8 million, while the total hammer price value was HK$67.6 million, falling short of the total median estimate of HK$79.5 million. This auction highlighted a cautious bidding environment, with the final prices generally below expectations, reflecting a more selective market. Despite this, the average price per lot was HK$884,254, indicating substantial investment levels in contemporary art.