Christie’s Asian Art Week Achieves $54.49 million

Christie's Asian Art Week achieves $54.49 million
THE LUBOSHEZ GONG
AN EXCEPTIONAL AND HIGHLY IMPORTANT BRONZE RITUAL WINE VESSEL AND COVER
LATE SHANG DYNASTY, ANYANG, 13TH-12TH CENTURY BC
PRICE REALIZED: $8,604,000
TOP LOT SOLD DURING ASIAN ART WEEK MARCH 2021

Christie’s announces Asian Art Week New York achieved a total of $54,490,000 with 81% sold by lot and 145% hammer above the low estimate. There was global participation with bidders from 41 countries across five continents. Additionally, unique visitors from over 117 countries visited the online sale pages leading into the week. During the week five records were achieved and nine lots exceeded $1M across all categories of Asian art.

The top lot of Asian Art Week New York was The Luboshez Gong, an exceptional and highly important bronze ritual wine vessel and cover from the late Shang dynasty, 13th-12th century BC from Shang: Early Chinese Ritual Bronzes from the Daniel Shapiro Collection which sold for $8,604,000. Other notable results included a woodblock print by Katsushika Hokusai, “The Great Wave,” which achieved $1,590,000 and set the auction record for artist; a magnificent 3rd to 4th-century gray schist figure of Buddha Shakyamuni that sold for $1,950,000; Francis Newton Souza’s Family, 1946, that sold for $822,000 and set a new record price for a work on paper by the artist; an exceptionally rare huanghuali incense stand from The Yunwai Lou Collection which achieved $2,550,000; and a rare huanghuali kang table, 18th-19th century, that sold for $1,614,000 against a low estimate of $40,000 and set the record for a kang table.

Tina Zonars, Co-Chairman of Asian Art, Christie’s, comments: “The strong sell-through rates and prices realized to demonstrate the strength of the market and Christie’s Asian art specialists’ expertise in curating sales. Exceptional prices were achieved throughout the week for Chinese bronzes and jades, wood sculpture, classical Chinese furniture, and Japanese and Korean works of art. The overall success of the week is a testament to Christie’s international teamwork and innovation.”

Deepanjana Klein, International Head of Classical and Contemporary Indian and South Asian Art, remarks: “We are pleased with the results this season with our classical and contemporary categories achieving over $11M in combined sales totals. The diverse selection offered in the Indian, Himalayan, and Southeast Asian Art sale proved to be a successful strategy as top prices spanned important Gandharan sculptures from a Japanese Private Collection, Indian bronzes, and paintings. South Asian Modern + Contemporary Art witnessed two records and an online sale that performed with exceptional sell-through rates and greatly exceeded initial estimates. The specialist teams have yet again proven their skill in pulling together auctions that speak to current market demands.”

Digital Innovations: Christie’s continues to leverage digital tools to extend access to key bidding areas and provide global audiences with opportunities to view and transact in auctions. In addition to enhanced digital content, interactive catalogues, and increased access to online bidding, the March 2021 season included live streaming of Chinese works of art sales on WeChat; AR technology; and virtual walkthroughs of Christie’s galleries.

ASIAN ART WEEK | LIVE AUCTION OVERVIEW:

Japanese and Korean Art

KATSUSHIKA HOKUSAI (1760-1849)
KANAGAWA OKI NAMI URA (UNDER THE WELL OF THE GREAT WAVE OFF KANAGAWA)
PRICE REALIZED: $1,590,000
WORLD AUCTION RECORD

16 March 2021
TOTAL: $9,712,250
85% SOLD BY LOT | 100% SOLD BY VALUE
197% HAMMER ABOVE LOW ESTIMATE
PARTICIPATION FROM 35 COUNTRIES
51% OF LOTS SOLD TO ONLINE BUYERS
WORLD AUCTION RECORDS FOR ITO JAKUCHU AND KATSUSHIKA HOKUSAI

Christie’s sale of Japanese Art and Korean Art achieved a total of $9,712,250 with 85% sold by lot and 197% hammer above low estimate. There was global participation with registered bidders from 35 countries and 51% of lots sold to online buyers. The top lots of the sale were a hanging scroll by Ito Jakuchu (1716-1800), Pair of Cranes and the Rising Sun, which set the artist record, achieved five-times its low estimate, selling for $1,590,000; and Katsushika Hokusai (1760-1849), Under the Well of the Great Wave off Kanagawa, which sold for $1,590,000 against its low estimate of $150,000 and established the auction record for the artist. The top Korean work of art was a gilt-bronze standing figure of Buddha, which realized $162,500 against its low estimate of $30,000.

South Asian Modern + Contemporary Art

Including Works by Benodebehari Mukherjee from the Mrinalini Mukherjee Foundation

PROPERTY FROM AN ESTEEMED PRIVATE COLLECTION
FRANCIS NEWTON SOUZA (1924-2002) FAMILY OIL ON CARD LAID ON BOARD.
PAINTED IN 1946.
PRICE REALIZED: $822,000 WORLD
AUCTION RECORD FOR THE ARTIST IN THE MEDIUM

17 March 2021
TOTAL: $4,352,125
WORLD AUCTION RECORDS FOR BENODEBEHARI MUKHERJEE AND FRANCIS NEWTON SOUZA FOR A WORK ON PAPER

The sale of South Asian Modern + Contemporary Art Including Works by Benodebehari Mukherjee from the Mrinalini Mukherjee Foundation achieved a total of $4,352,125. The top lot of the sale was Francis Newton Souza’s Family, 1946, which sold for $822,000 and set a new record price for a work on paper by the artist. Other notable results included Tyeb Mehta’s Confidant, 1962, which sold for $750,000; Narayan Shridhar Bendre’s Untitled (Construction), 1987, which sold for $225,000; and Zarina’s Memory of Bangkok, 1980, which achieved $68,750. Frying Fish by Benodebehari Mukherjee, which sold for $70,000, also established a new world record for the artist. Contemporary works performed with strong results for works including an impressive group of prints and a sculpture by Zarina.

Indian, Himalayan, and Southeast Asian Works of Art

A MAGNIFICENT AND MONUMENTAL GRAY SCHIST
FIGURE OF BUDDHA SHAKYAMUNI ANCIENT REGION OF GANDHARA
3RD-4TH CENTURY CE
PRICE REALIZED: $1,950,000

17 March 2021
TOTAL: $7,272,750
85% SOLD BY LOT | 89% SOLD BY VALUE
104% HAMMER ABOVE LOW ESTIMATE

Christie’s sale of Indian, Himalayan, and Southeast Asian Works of Art achieved a total of $7,272,750 with 85% sold by lot and 89% sold by value. The top lot of the sale was a magnificent and monumental gray schist figure of Buddha Shakyamuni that sold for $1,950,000. Other highlights include a rare painting of the patron, Hvashang that sold for $750,000 and an illustration from the ‘Lambagraon’ Gita Govinda series that sold for $575,000.

Shang: Early Chinese Ritual Bronzes from the Daniel Shapiro Collection

A VERY RARE BRONZE RITUAL
WINE VESSEL AND COVER, FANGYI, LATE SHANG DYNASTY, ANYANG, 12TH CENTURY BC
PRICE REALIZED: $1,110,000

18 March 2020
TOTAL: $10,139,000
80% SOLD BY LOT | 99% SOLD BY VALUE
166% HAMMER ABOVE LOW ESTIMATE

Shang: Early Chinese Ritual Bronzes from the Daniel Shapiro Collection achieved a total of $10,139,000 with 80% sold by lot, 99% sold by value, and 166% sold above low estimate. The sale featured exceptional examples from China’s formative Shang bronze culture from a renowned American collection formed over a span of twenty-five years. The top lot was The Luboshez Gong, a magnificent and highly important bronze ritual wine vessel that sold for over double its low estimate, realizing $8,604,000 and achieving the highest value for an archaic bronze sold during Asian Art Week March 2021. Also of special interest was the rare ritual wine vessel with cover, fangyi, formerly in the collection of Mr. and Mrs. Rafi Mottahedeh, that achieved $1,110,000

Important Chinese Art from the Junkunc Collection

A FINELY CARVED WHITE JADE FIGURE OF A MYTHICAL BEAST 17TH-18TH CENTURY
PRICE REALIZED: $525,000

18 March 2021
TOTAL: $5,951,500
87% SOLD BY LOT | 94% SOLD BY VALUE
185% HAMMER ABOVE LOW ESTIMATE

Important Chinese Art from the Junkunc Collection achieved a total of $5,951,500 with 87% sold by lot, 94% sold by value, and 185% hammer above low estimate. The top lot of the sale was a finely carved white jade figure of a mythical beast from the 17th-18th century that sold for $525,000. Other notable results included a very rare pale beigish-white and yellowish-brown camel dated to the Tang-Yuan dynasty that sold for $437,500; a rare miniature yellow jade faceted jar and cover dated to the Qianlong period or earlier that realized $375,000; a rare gilt-silver sheath dated to the Liao-Yuan dynasty, which sold for $187,500; and a 14th-early 18th century archaistic silver and gold-inlaid bronze jar, once in the Qianlong Emperor’s collection that achieved $250,000.

Important Chinese Ceramics and Works of Art

PROPERTY FROM THE YUNWAI LOU COLLECTION AN IMPORTANT AND EXCEPTIONALLY RARE HEXAGONAL HUANGHUALI INCENSE STAND
XIANGJI 17TH CENTURY
PRICE REALIZED: $2,550,000

18-19 March 2021
TOTAL: $16,507,625
89% SOLD BY LOT | 93% SOLD BY VALUE
212% HAMMER ABOVE LOW ESTIMATE
WORLD AUCTION RECORD FOR A KANG TABLE

Important Chinese Ceramics and Works of Art achieved a total of $16,507,625 with 89% sold by lot, 93% sold by value, and 212% hammer above low estimate. The top lot of the sale was a rare 17th-century huanghuali incense stand from the Yunwai Lou collection, which achieved $2,550,000 against a low estimate of $800,000. Other notable results included a magnificent and very rare large lacquered and giltwood seated figure of Manjushri, Kangxi period (1662-1722) that realized $1,350,000; and a rare huanghuali kang table, 18th-19th century, that sold for $1,614,000 and set the world auction record for a kang table.

ASIAN ART WEEK | ONLINE SALES:

South Asian Modern + Contemporary Art Online

PROPERTY FROM A DISTINGUISHED EAST COAST COLLECTION SATISH GUJRAL (1925-2020)
UNTITLED (MEN AT PLAY)
PRICE REALIZED: $60,000

4-18 March 2021 | Online
TOTAL: $532,250
92% SOLD BY LOT | 100% SOLD BY VALUE
146% HAMMER ABOVE LOW ESTIMATE

South Asian Modern + Contemporary Art Online achieved a total of $532,250 with 92% sold by lot, 100% sold by value, and 146% hammer above low estimate. The top lot of the sale was Satish Gujral’s Untitled (Men at Play), which sold for $60,000. Strong results were additionally achieved for works on paper by artists Maqbool Fida Husain, Francis Newton Souza, Manjit Bawa, Prabhakar Barwe, and Jogen Chowdhury, alongside those by their mentors and pioneers of regional schools like Abdul Rahman Chughtai, Walter Langhammer, Nek Chand, Kamrul Hasan, and Chittaprosad Bhattacharya.

Christies

editor

Christie’s, the world's leading art business, had auction sales in the first half of 2019 that totalled £2.2 billion / $2.8 billion. Christie’s is a name and place that speaks of extraordinary art, unparalleled service and international expertise. Christie’s offers around 350 auctions annually in over 80 categories, including all areas of fine and decorative arts, jewellery, photographs, collectables, wine, and more. Prices range from $200 to over $100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis on Post-War & Contemporary, Impressionist & Modern, Old Masters and Jewellery.

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