Tetsuya Ishida Leads Bonhams $2.36m 'Modern & Contemporary Art' Auction in Hong Kong

A work by Tetsuya Ishida was the headline sale at Bonhams 'Modern & Contemporary Art' auction on May 25 in Hong Kong.

• The sale totaled $2.36m (HKD18.5m), meeting the pre-sale estimate.

Snapshot of the sale

• 22 works sold totaling $2.36m.
• Estimates totaled: $2.11m (low) and $3.25m (high), excluding premiums.
• The sell-through rate was 73% of the original 30 lots announced.

The star lot was: Tetsuya Ishida, General Manager's Chair in an Abandoned Building (1996), which sold for $973,300, 51% above its $641,500 low estimate. It has been traded twice in the past.

The outperformer sold for 217% above its low estimate. Xue Song, Dialogue with Mondrian No. 4 (2012), sold for $81,600 ($25,700 low estimate). It has been traded twice in the past.

• 8 works, or 36%, sold above their high estimate.
• 12 works, or 55%, sold within their low and high estimate.
• 2 works, or 9%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

8 works were bought-in, including: George Condo, Standing Nude in the Night with Bubbles (1999), estimated at $320,700 (low) to $449,000 (high). It has been traded 4 times 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Withdrawn before the sale

0 works were withdrawn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. Estimates, sale prices and totals are converted into US dollars. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.