Skip to main content

Cover Story

A new benchmark for Asian art online

A GILT-BRONZE FIGURE OF PADMAPANI LOKESHVARA

This lockdown period has been an unparalleled time of change and innovation

By IANSlife

August 1, 2020 (IANSlife) Buyers from across 22 countries collectively set a new benchmark for the online sale of Asian art, totalling $8,952,625 establishing the highest total achieved for an online-only sales. Christie’s hosted this first-ever Asian Art Week Online where the top lot of the week was a painting by Tyeb Mehta (1925-2009), which realized $975,000, achieving the highest price for a South Asian Modern + Contemporary work sold since the lockdown for the category in an online auction.

 

Tina Zonars, Co-Chairman of Asian Art at Christie’s, remarked: “We are delighted with the strong results achieved for our first-ever online installment of Asian Art Week, which established new benchmarks for the value thresholds of transacting online for all categories of Asian art. Throughout the virtual sale week, we had buyers from 22 countries hailing from across Asia, Australia, Europe, and the U.S. with competitive bidding witnessed for each sale. This lockdown period has been an unparalleled time of change and innovation. As an organisation we are leading the way with innovative offerings and developing digital platforms that allow us to serve our clients to the highest standards possible. We now look forward to our fall season of sales beginning in September in New York.”

 
Highlights of some of the Latest online Sales

 

South Asian Modern + Contemporary Art: 7 to 22 July | Online | New York

 

Tyeb Mehta Falling Figure
Tyeb Mehta Falling Figure
PROPERTY FROM A PROMINENT COLLECTION, NEW YORK TYEB MEHTA (1925-2009) PAINTED IN 1965 PRICE REALIZED: $975,000

One of Tyeb Mehta's earliest and most seminal explorations of the 'Falling Figure' was presented for the first time at auction and realized $975,000, achieving the highest price for a South Asian Modern + Contemporary work since lockdown and setting a new benchmark for the category in an online auction.

Other notable results included Maqbool Fida Husain (1913-2011), Untitled (Woman at Work), which sold for $300,000; and Francis Newton Souza (1924-2002), 'Frightened Head', that realized $250,000.
• TOTAL: $4,825,000
• 88 percent  SOLD BY LOT
• 113% HAMMER PRICE VS. LOW ESTIMATE
• HIGHEST SALE TOTAL FOR AN ASIAN ART ONLINE SALE
Christie’s New York’s Online sale of South Asian Modern + Contemporary Art (July 7-22), totaled $4,825,000, with 88% sold by lot, and achieving an impressive 113% hammer price compared to the total low estimate.


Fine Chinese Paintings: 7 to 21 July | Online | New York

QI BAISHI (1863-1957) WISTERIA
QI BAISHI (1863-1957) WISTERIA

The top lot was Fowl and Blossoms by Wang Xuetao (1903-1984), which sold for $137,500 against an estimate of $10,000-20,000.

Other notable results included Qi Baishi (1863-1957), Wisteria, which sold for $106,250; and Zhang Daqian (1899-1983), Calligraphic Couplet, which realized $40,000.

• TOTAL: $523,000
• 84% SOLD BY LOT
• 180% HAMMER PRICE VS. LOW ESTIMATE
Christie’s New York’s Online sale of Fine Chinese Paintings, (July 7-21), totaled $523,000, with 84% sold by lot, and achieving an impressive 180% hammer price compared to the total low estimate.
 

Japanese and Korean Art: 7 to 23 July | Online | New York
 

An iron articulated sculpture of a crow

AN IRON ARTICULATED SCULPTURE OF A CROW EDO PERIOD (19TH CENTURY), SIGNED MYOCHIN MUNEHARU PRICE REALIZED: $100,000

The top lots of the sale were an iron articulated sculpture of a crow, Edo Period (19th Century), which sold for $100,000 against a low estimate of $40,000; and Korean screen from the 19th century, titled A Mounted Set of Sixty Leaf Paintings, which realized $100,000 against a low estimate of $30,000. Strong prices were also realized for Japanese woodblock prints by renowned artists such as Hokusai, Hiroshige, Hasui, and Tsukioka Yoshitoshi.

• TOTAL: $539,375
• 111% HAMMER PRICE VS. LOW ESTIMATE
Christie’s New York’s Online sale of Japanese Artand Korean Art(July 7-23), totaled $539,375 and achieving an impressive 111% hammer price compared to the total low estimate.



Indian, Himalayan and Southeast Asian Works of Art: 7 to 23 July | Online | New York

A painting of Ganesha
A painting of Ganesha

The top lot of the sale was a painting of a Confessional Buddha, China, Chengde, Xumi Fushou Temple, Late 18th century, which sold for $81,250 against a low estimate of $15,000. Other notable highlights included a painting of Ganesha, North India, Punjab Hills, Guler, circa 1760, that sold for $37,500; and a bronze figure of the Third Dalai Lama, Sonam Gyatso (1543-1588), Tibet, 16th century, which realized $35,000.


• TOTAL: $534,625
• BUYERS FROM 11 COUNTRIES
Christie’s New York’s Online sale of Indian, Himalayan and Southeast Asian Works of Art (July 7-23), totaled $534,625 with global participation from 11 countries spanning the U.S. to Europe and Asia.

 



Chinese Ceramics and Works of Art: 7 to 24 July | Online | New York

 

A rare purple-splashed jun bowl
A rare purple-splashed jun bowl


• TOTAL: $2,530,625
• 185% HAMMER ABOVE LOW ESTIMATE
• HIGHEST TOTAL FOR A CHINESE WORKS OF ART ONLINE SALE AT CHRISTIE’S
Christie’s New York’s Online sale of Chinese Ceramics and Works of Art (July 7-24), totaled $2,530,625 achieving an impressive 185% hammer above low estimate. The top lot of the sale was a rare small huanghuali compound cabinet and hat chest, 19th century, which sold for $471,000 against a low estimate of $30,000. Other notable results included a rare purple-splashed Jun bowl, Northern Song Dynasty (AD 960-1127), from The Collection of Peter Tcherepnine, that sold for $187,500 against a low estimate of $15,000; and a burl-inset huanghuali ‘Southern Official’s Hat’ armchair, which realized $162,500 against a low estimate of $15,000.

 

 

(This article is website exclusive and cannot be reproduced without the permission of IANSlife)

IANSlife Features can be contacted at ianslife@ians.in

Story Formatting and Photo Editing by N. Lothungbeni Humtsoe