Adrian Ghenie Leads Christie's $15.18m 'Post-Millennium Evening Sale' in Hong Kong
3 min read · 29 Nov 2023
Lidless Eye by Adrian Ghenie sold for $5.48m. Image courtesy of Christie's
A work by Adrian Ghenie was the headline sale at Christie's 'Post-Millennium Evening Sale, a Collab with Jay Chou' on November 28 in Hong Kong.
- The sale totaled $15.18m, meeting the pre-sale estimate.
Snapshot of the sale
- 25 works sold totaling $15.18m.
- Estimates totaled: $13.52m (low) and $20.76m (high), excluding premiums.
- The sell-through rate was 89% of the original 28 lots announced.
The star lot was: Adrian Ghenie, Lidless Eye (2016), which sold for $5.48m, 12% above its $4.87m low estimate. It has not been traded before.
The outperformer sold for 500% above its low estimate. Ji Xin, White Cat (2021), sold for $258,700 ($38,500 low estimate). It has been traded once in the past.
A talking point was Emma Webster, Last Standing (2020), which sold for $291,000, 275% above its $76,000 low estimate. The work has been traded twice in the past.
Breakdown of results against auction house estimates that are disclosed
- 14 works, or 56%, sold above their high estimate.
- 9 works, or 36%, sold within their low and high estimate.
- 2 works, or 8%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
2 works were backed by guarantees, including: Avery Singer, Untitled (2017). It sold for $1.76m, 24% above its $1.41m low estimate.. It has been traded twice in the past.
Works that did not sell
3 works were bought-in, including: Dana Schutz, Singer Songwriter (2013), estimated at $2.05m (low) to $3.33m (high). It has been traded twice in the past.
Withdrawn before the sale
0 works were withdrawn
Terms and definitions
All results include the fees and premiums added to the price of a work of art when the auctioneer's hammer falls. Sale prices are compared to the auction house’s low estimate, which do not include premiums.
Guarantees: Sometimes an auction house guarantees to pay a seller for a work, regardless of whether the bidding reaches the reserve price, a figure that is typically confidential.
Bought-in: If there are no bids for a work, or if bidding falls short of the reserve price, the lot is unsold or “bought-in”.
Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.
Premiums: Typically a sliding-scale of charges paid in addition to the hammer price by the buyer, plus any other fees.
