April 10 at Shoteby’s Hong Kong, maybe the beginning of an increase in prices
(check also results for each artist)
High art prices may disguise malaise
MIKE COLLETT-WHITE
Reuters
July 2, 2008 at 1:38 PM EDT
(from me) In fact, at Sotheby’s one big Yue Minjun at lower estimate 895.000 Usd and a Wang Guangyi at 298.000Usd failed to find buyers. At Christies a Zhang Xiaogang failed at a lower 1.786.000Usd, and also at Phillips.. It seems to me a fewer interest in London for chinese art, today more concentrate in pop art or the new art street! Crisis or fashion?
In Christies the day before almost all lots were bought at high of estimates, despite a medium quality and small formats. Yue Minjun and, mainly, Zeng Fanzhi are the artists of today. Very Good results also for Yan Pei Ming and Tang Zhigang.
May 22 (Bloomberg). Council Auction
Wang's ``Great Criticism'' Marlboro an oil that used motifs from China's Cultural Revolution propaganda posters as a critique of Western consumer brands, sold for an artist record of 9.8 million yuan (1,4M USD). That was a shade over the low estimate, even after the auctioneer threw in an artist-autographed T-shirt bearing an image of the work.
SOTHEBY’S OFFERING OF THE FIRST PART OF THE ESTELLA COLLECTION BRINGS HK$139,352,010 (US$17,887,230), FAR EXCEEDING ITS HIGH ESTIMATE (EST. HK$93.6 MILLION / US$12 MILLION)
ZHANG XIAOGANG’S BLOODLINE: THE BIG FAMILY NO. 3, COMMANDS HK$47,364,500 (US$6,061,619), A RECORD FOR THE ARTIST AT AUCTION
[HONG KONG, April 9, 2008]
SOTHEBY’S SPRING 2007 SALE OF CONTEMPORARY ART ASIA March 17th NYC:
Despite high estimations results in the low end. Too many lots unsold due this high estimations (20%). Interest for the middle range 60-100.000USD. Stabilisitation for the big ones (Zhang Xiaogang, Yue Minjun, Wang Guangyi).
My comments about crazy results on Banksy, On Kawara and Hirst during Sotheby’s sale on February 27th and 28th.
SOTHEBY’S EVENING Feb, 27, 2008
AUCTION OF CONTEMPORARY ART ACHIEVES £95,030,000 ($189,424,299)
-- THE HIGHEST TOTAL FOR ANY SALE OF CONTEMPORARY ART EVER HELD IN EUROPE --
-- SIX ARTIST RECORDS ACHIEVED --
Christie’s Feb 6, 2008
FRANCIS BACON TRIPTYCH SELLS FOR £26.3 MILLION ($51.7 MILLION/€35.2 MILLION)
- The Highest Price for a Post-War Work of Art Ever Sold in Europe
POST-WAR & CONTEMPORARY ART SALE TOTALS £73 MILLION/$143 MILLION/€35.2 MILLION
- Second Highest Total for Post-War & Contemporary Art Sale
- Artist Records Established for Richter, Fontana and Riley
- Christie’s Continues to Lead Contemporary Art Market
Christie’s, Feb 7, 2008
Euro bit Dollar.
Chinese in strong demand
If we have to look at art world two works by Wang Jin, one represents a 2 dollar note auctioned at 45.000 Pounds (e.b.p.), other showing a 5 Euro note for 58.000 Pounds (e.b.p).
