HONG KONG.- Christie’s announced that its inaugural Hong Kong Asian art sale series at the new Asia Pacific headquarters in The Henderson, which included “The Au Bak Ling Collection: The Inaugural Sale” in September 2024 and six live auctions in November 2024 during the inaugural Asian Art Week, achieved a combined sale total of HK$846,424,360 / US$109,313,589. This remarkable result was led by exceptional single-owner collections across Chinese Ceramics and Works of Art and Chinese Paintings categories, from the classical to the modern era, including Chinese ceramics, archaic jades, and Chinese classical furniture – reinforcing Christie’s as the auction house of reference for prestigious Asian art collections worldwide. The packed saleroom and online platforms witnessed spirited engagement from collectors driven by new and younger buyers, reflected by a 20% increase in new buyers, and a 29% increase in Millennial buyers across seven live auctions. With its new Asia Pacific headquarters offering a museum-quality experience and enabling a year-round schedule to engage collectors and connoisseurs of all generations, Christie’s Hong Kong’s inaugural Asian art sale series attracted strong and increasing participation from mainland China and Southeast Asia, with mainland China the top contributing region in bought value, and a 23% increase in buying contribution by value from Southeast Asia. These remarkable results reaffirm Christie’s as the ultimate collectors’ destination for Asian art, and reflect robust market demand.

Christie’s Hong Kong | Asian Art Live Auctions Overview

Chinese Paintings | 27 – 28 November
Autumn Live Sale Total: HK$272M / US$35M

• Enthusiastic bidding across two days of sales resulted in 114% hammer over low estimate, and 40% of lots sold over high estimates
• Attracting new and younger buyers: close to 20% of buyers were new; 32% of new buyers were Millennials

From 27 to 28 November, Christie’s Hong Kong’s Chinese Paintings Department presented two live auctions, realising a combined sale total of HK$271,929,160 / US$35,101,160. Fine Chinese Classical Paintings and Calligraphy was led by Wu Li’s Landscape with Pines and Chrysanthemums for Taopu, which sold for HK$43,935,000 / US$5,671,218, achieving over 1.7 times its low estimate; while the top lot of Fine Chinese Modern and Contemporary Ink Paintings was Wu Guanzhong’s Sunrise over Guilin, resulting in HK$12,475,000 / US$1,610,298, over 2.7 times its low estimate. Across the two sales, numerous exceptional single-owner collections with impeccable provenance realised outstanding results, including the collection formerly from the C. C. Wang Family, as well as the collections of Harold Wong, M K Lau, and formerly from The collection of Loh Cheng Chuan, Penang, each achieving over 110% hammer over their respective low estimates.

Chinese Ceramics and Works of Art | 26 September & 29 November

Autumn Live Sales Total: HK$574.5M / US$74.2M

• Five live sales achieved a combined average 147% hammer over low estimate, with 51% of lots surpassing high estimates

• Autumn season market leadership: achieved the highest seasonal sale total since 2017, which underscores Christie’s as the ultimate destination for Asian art categories, as well as resilient market demand

• An influx of new and younger buyers to the category: 92% increase in new buyers; 41% increase in Millennial buyers

• Robust online participation, demonstrated by a 36% increase in buyers from digital channels

Dedicated Auctions of Single-Owner Collections

• The Au Bak Ling Collection: The Inaugural Sale
100% Sold | 160% Hammer Over Low Estimate

• Cosmic Essence - Archaic Jades from the Lantien Shanfang Collection
100% Sold | Almost 600% Hammer Over Low Estimate

• Eternal Ming – Treasures from the MQJ Collection
100% Sold | Over 200% Hammer Over Low Estimate

• Masterpieces of Chinese Art from the Palmer Family Collection
92% Sold by Lot | 105% Hammer Over Low Estimate

On 26 September and 29 November, Christie’s Hong Kong’s Chinese Ceramics and Works of Art Department presented a total of five live auctions that realised a combined sale total of HK$574,495,200 / US$74,194,618, cementing Christie’s as the ultimate collectors’ destination for all categories across the spectrum of Chinese Ceramics and Works of Art. Three dedicated single-owner sales of the Au Bak Ling Collection, the Lantien Shanfang Collection, and the MQJ Collection were all 100% sold, reaffirming Christie’s unrivalled leadership in the markets for Chinese ceramics, archaic jade, and Chinese classical furniture. Furthermore, masterpieces of Chinese Art from the Palmer Family Collection achieved a solid 105% hammer above low estimate. The Important Chinese Ceramics and Works of Art sale was headlined by a Rare and Fine Blue and White 'Immortal' Bowl, which was the top lot of the entire inaugural Asian Art Sales Series in Hong Kong, selling for HK$30,625,000 / US$3,955,142.