Fervent Bidding and Exceptional Prices for Prominent Private Collections

Combined Sell-Through Rates of 81% by Lot and 95% by Value

Hammer Price of 187% above Low Estimate

60% of Lots Surpassed Pre-Sale High Estimates

Over 3.6 Million Viewers Watched the Auction Livestream

Hong Kong – On 29 and 30 November, Christie’s Chinese Paintings held two live auctions – Fine Chinese Classical Paintings and Calligraphy, and Fine Chinese Modern and Contemporary Ink Paintings, achieving a combined total of HK$601,977,500/ US$77,541,686 and sell-through rates of 81% by lot and 95% by value. The sales also saw a contingent of millennial buyers who accounted for 45% of new buyers.

Sale Highlights: Fine Chinese Classical Paintings and Calligraphy

 - The auction totalled HK$305,646,250/ US$39,355,256, with an 80% sell-through rate by lot and a hammer price of 421% above low estimate. This also marks the highest auction total for this genre at Christie’s Asia since Autumn 2018.

 - The Wong Nan-ping Family Collection performed exceedingly well, achieving HK$120,452,500/ US$15,509,560, with a 95% sell-through rate by lot and a hammer price of 621% over low estimate. The top lot of the sale and of the collection was lot 867  — The Fragrance of a Nation in Clearing Spring by Yun Shouping, which sparked an intense, half hour bidding war and eventually realised HK$59,650,000/ US$7,680,582 against its pre-sale low estimate of HK$3,000,000/ US$386,282. Other works from the collection also surpassed their pre-sale low estimates: lot 857  — Landscape Recalling Ni Zan and Huang Gongwang by Dong Qichang, which realised HK$12,250,000/ US$1,577,320 against the pre-sale low estimate of HK$1,000,000/ US$128,761; and lot 854  — Bamboo by Ke Jiusi, which sold for HK$9,250,000/ US$1,191,037 against its pre-sale low estimate of HK$500,000/ US$64,380.

Other esteemed private collections also realised exceptional prices and fervent bidding was witnessed for key works:
 

 - The Ye Gongchuo Family Collection achieved HK$79,375,000/ US$10,220,389, with a 95% sell-through rate by lot and a hammer price of 695% above low estimate. Prices for several works surpassed multiple times their pre-sale low estimates: the top lot of the selection – lot 824  — Poems by Tao Zongyi by Various Artists, was sold after 10 minutes of fierce bidding for HK$41,050,000/ US$5,285,631, against its pre-sale low estimate of HK$200,000/ US$$25,752; lot 828  — Landscapes/ Flowers by Fu Shan and Fu Mei, which realised HK$13,450,000/ US$1,731,833 against its pre-sale low estimate of HK$3,500,000/ US$450,663; and lot 827  — Landscapes and Calligraphy by Li Rihua, which sold for HK$3,500,000/ US$450,663 against a pre-sale low estimate of HK$200,000/ US$25,752.

 - The Hosokawa Family Collection was 100% sold, totalling HK$65,812,500/ US$8,474,070, and saw a hammer price of 751% above low estimate. The top lot of the collection was lot 894  — Mountain Retreat by Shen Shichong, which sold for HK$53,050,000/ US$6,830,760 against the pre-sale low estimate of HK$5,000,000/ US$643,804. Other top performing lots include lot 891  — Inscriptions in Running-Cursive Script by Li Dongyang, sold for HK$5,250,000/ US$675,994 against its pre-sale low estimate of HK$1,200,000/ US$154,513; and lot 892  — Two Poems in Running Script by Shen Zho, sold for HK$2,250,000/ US$289,712 against its pre-sale low estimate of HK$60,000/ US$7,726.
  

The Chamber of Young Snow Collection achieved HK$1,325,000/ US$170,747, led by lot 816 — Zhang Zongcang’s Mountain in the Rain, which sold for HK$437,500/ US$56,333.

Sale Highlights: Fine Chinese Modern and Contemporary Ink Paintings

 - The auction totalled HK$296,331,250/ US$38,186,430, with a 82% sell-through rate by lot and 93% by value.
 

 - The top lot of the sale was lot 1178 : Living in the Mountains by Zhang Daqian, sold for HK$24,250,000/ US$ 3,124,952.
 

 - Additional leading highlights that achieved remarkable prices include:
Lot 1080: Splashed-colour Lotus by Zhang Daqian, sold for HK$12,250,000/ US$1,578,584
Lot 1077: Bamboo Valley by Pan Tianshou, sold for HK$11,650,000/ US$1,501,267
Lot 1067: Spring in Full Bloom by Wu Guanzhong, sold for HK$11,050,000/ US$1,423,947
Lot 1076: The Ye Gongchuo Family Collection - The Journey to Guangxi by Huang Binhong, sold for HK$8,650,000/ US$1,114,674 against its pre-sale low estimate of HK$1,500,000/ US$193,296
Lot 1161: Panel Screens of Flowers and Calligraphy by Wu Changshuo/ Kusakabe Meikaku, sold for HK$8,050,000/ US$1,037,355, against a pre-sale low estimate of HK$2,000,000/ US$257,728