Sotheby's - Modern Discoveries
May 9th, 2024 - Hong Kong
Executive Summary
The Sotheby's Asia "Modern Discoveries" auction, held from May 2nd to 9th, 2024, showcased a diverse selection of modern and contemporary art from across Asia and Europe. The auction featured 62 lots, with a sell-through rate of 90.32% and a total auction value of HK$7,988,300. The average price per lot was HK$142,648.21, and the auction achieved an impressive 85.60% of its total median estimate.
The auction highlights included works by renowned artists such as André Brasilier, Bernard Buffet, Le Pho, and Zao Wou-Ki. Brasilier's paintings dominated the top lots, with "La vallée de la Muze" (Lot 6205) and "Les roses de Septembre" (Lot 6204) achieving hammer prices of HK$550,000 and HK$500,000, respectively. The auction also saw strong results for Vietnamese masters Le Pho and Vu Cao Dam, as well as contemporary Chinese artist Chen Xiangxun.
Provenance analysis revealed the significance of notable collections, galleries, and direct artist connections in driving value and desirability. Works from the collection of Professor Arthur Lim and those exhibited at prestigious venues such as Château de Chenonceau in France commanded strong prices. The global nature of the provenance, with works acquired from various regions, highlighted the increasing interest in Asian and international art among collectors worldwide.