HONG KONG.- Today’s sales of Contemporary Art in Hong Kong have just concluded, bringing the total for Contemporary Art sold at Sotheby’s to HK$802 million / US$102 million.

Yuki Terase, Sotheby’s Head of Contemporary Art, Asia, commented: “When the hammer fell on the final lot of tonight’s evening sale, Sotheby’s concluded what now stands as the highest totaling series of Contemporary sales ever staged in Asia – a testament not only to pan-Asian demand, but also to our ability to stage innovative and exciting auctions that set new benchmarks for the international market. In the evening sale, we are deeply honoured to have set a new auction record for Kusama Yayoi, demonstrating yet again the importance of Hong Kong in the artist’s market. We also achieved a new auction record for Ethiopian-born female artist Julie Mehretu in what was the artist’s auction debut in Asia. Last but not least, the NIGOLDENEYE® Vol. 1 auction resulted in Sotheby’s third white-glove collaboration with cultural entrepreneur NIGO®, whose pioneering vision continues to bridge worlds and inspire creative minds across generations. ”

Contemporary Art Evening Sale
Tonight’s Contemporary Art Evening Sale brought a total of HK$440.8 million / US$56.2 million, well above pre-sale expectations (estimate: HK$282-418 million / US$36-53 million), and with a sell-through rate of 90%.

The highlight was Yayoi Kusama’s Interminable Net #4 from 1958, which eclipsed the artist’s previous auction record to sell for HK$62.4 million / US$8 million (est. HK$50-70 million). The painting, kept in private collections for decades and an extremely rare example from the most radical, transformative and accomplished period of Kusama’s career.

NIGOLDENEYE® Vol. 1
Tonight’s auction was preceded by NIGOLDENEYE® Vol. 1, a compelling sale from the personal collection of NIGO®, the Japanese designer, music producer and creative entrepreneur. All 33 artworks and collectibles were sold, bringing an outstanding total of HK$220 million / US$28 million, and marking the third ‘white glove’, 100%-sold sale that Sotheby’s and NIGO® have achieved together in Hong Kong since 2014. THE KAWS ALBUM, which ignited a frenzy of bids, sold for HK$116 million / US$14.8 million, many multiples over its estimate and establishing a new auction record for the artist.

Contemporary Art Day Sale
Earlier today, the Contemporary Art Day Sale realised a total of HK$140.9 million / US$18 million, with 89% of lots sold. The top lot was Zhou Chunya’s Little Path to Dragon Spring Mountain, which sold for HK$9.8 million / US$1.2 million (est. HK$3-5 million).