private sale exhibition of 200 million dollars in Hong Kong
Four Picassos in sales come directly from the granddaughter of the artist.
Sotheby’s doubles this season in Hong Kong in an attempt to capitalize on the growing need of rich Asian collectors in Western art. The auction house has announced a private sales exhibition entitled
‘Panorama: A New Perspective’, with more than 40 works of modern and contemporary art valued at $ 200 million, an amount that is usually more associated with a large evening sale than a smaller one. temporary show.
The exhibition will be held next to the regularly planned sales of Sotheby in Hong Kong, which includes art, wine, jewelery and watches. (The show starts one day before Sotheby’s sale starts on 30 March, both run until 3 April.)
Sotheby’s has planned sales this year a little earlier than usual to overlap with Art Basel Hong Kong (29-31 March). Handy for Sotheby’s (and its customers), both the stock exchange and the auctions are held at the Hong Kong Convention and Exhibition Center.
The auction house has been active in Hong Kong since the beginning of the 1970s and has exhibited Western work there for the past twenty years. But the interest of collectors for the category has increased considerably in recent years. Ten or fifteen years ago the rendering of blue-chip Western works showed ‘more interest, but it was limited’, Patti Wong, chairman of Sotheby’s Asia, told artnet News by telephone from Hong Kong. “Now it is unbelievable to see that the appetite is real, because Art Basel has done a lot of work for us, the timing is good enough to expand.”
The crown jewel of “Panorama” is a group of four Picasso paintings that are sent directly from the collection of the granddaughter of the artist, Marina Picasso. The exhibition also includes work by Salvador Dalí, Marc Chagall, Pierre Bonnard, Willem de Kooning, Alexander Calder and Gerhard Richter. Prices for individual works in the show range from $ 250,000 to $ 40 million.
The mix of visitors in the city for Art Basel, as well as the striking opening of a number of western gallery costs, offers a “fantastic” opportunity, Wong said. “Of course, sellers agree and that’s why they gave us these great works,” she added. “It’s a very busy month, whether it’s Taiwanese, Singaporean or Indonesian customers, they all come to Hong Kong.”
The money generated by Panorama could compete with the total amount realized during the live auctions in Hong Kong at Sotheby. Note that last year’s Hong Kong auctions generated a total of $ 404 million, with modern and contemporary art for about $ 91 million. The total estimate for Sotheby’s spring sales in Hong Kong is $ 360 million; Modern and contemporary art is estimated to account for 82 million dollars of the total.
Meanwhile, Sotheby’s is not waiting at the kickoff of Art Basel Hong Kong to start selling. Last week, the private sales arm S2 of the auction house opened a new exhibition of Western art in Hong Kong. “Face Off: Picasso / Condo” places Picasso’s portraits next to those of the American artist George Condo (on view until 31 March).
To date, six of the 29 works offered (17 by Condo and 12 by Picasso) have sold, including Condo’s The Escaped Hippie (1998), which according to Sotheby’s a young Asian buyer was arrested. Prices for working in the show range from $ 100,000 to more than $ 20 million.
Just like Picasso, Condo now seems to have a moment in Asia. Sprüth Magers and Skarstedt Gallery present the first large Condo exhibition in Hong Kong, with brand new paintings and works on paper, at the Maritime Museum of the city during the fair. Condo created the works especially for the show, which will only be on show for two weeks, starting on 29 March.
“Panorama: A New Perspective,” takes place on March 29-April 3 at the Hong Kong Convention and Exhibition Center (New Wing), 1 Expo Drive, Wan Chai, Hong Kong.
“Face-Off: Picasso / Condo” can be seen on 16 and 31 March in the Hong Kong Gallery of Sotheby, 5 / F, One Pacific Place, Admiralty.
“George Condo: Expanded Portrait Compositions” takes place from 27 March to 6 April at the Maritime Museum, Hong Kong (with a public reception on 26 March, 17.00 to 20.00) Central Pier No. 8, Man Kwong Street.