CHINA:AN EERIE oil-on-canvas diptych by Chinese artist Zeng Fanzhi, showing mask-clad figures wearing scarves of the Red Guard, China's communist youth organisation, set an Asian contemporary art record of HK$75.4 million (€6.14 million) during lively spring auctions in Hong Kong.
The auction house Christie's sold a record €189 million worth of Asian art, antiques and jewellery over the six days of sales, a 58 per cent rise on last year and Christie's highest ever for an Asian sales series, underlining Asia's growing reputation as one of the most vibrant markets on the international art scene.
With the opening up of China in the past three decades, the country has witnessed a renaissance in contemporary expression as artists take advantage of newfound freedom to work. While Chinese artists are crucial to the region's growing power, other emerging Asian talent, including 29 Japanese contemporary artists, 10 from India and 10 South Koreans, saw record prices paid for their work.
"The results of our Hong Kong spring sales highlight the importance of Asia for Christie's and the potential that this region offers," said Edward Dolman, chief executive of Christie's International.
"Global interest in art continues to grow and supported by new wealth in the region, we are committed to expanding our business in Asia," Mr Dolman said.
Hong Kong is now the third-largest art auction market behind New York and London. Sotheby's sold €145 million worth of artwork in their Hong Kong spring sales in April.
Other highlights included a 101.27-carat diamond, the largest colourless stone ever to be auctioned in Asia, which was sold for €4 million. A Chinese Qing dynasty musical and automaton "Jardiniere" clock fetched €3.3 million, a record for any Chinese imperial clock.
A painting on the 1989 Tiananmen Square crackdown by Chinese contemporary artist Yue Minjun, Gweong Gweong, fetched HK$54 million (€4.4 million), compared with HK$4.9 million (€400,000) at Christie's three years ago. This was a personal record for the artist.
Antiques sales were less vibrant, largely because prices were seen as high.
