Phillips Modern & Contemporary Art Auction Totals $4.97m
3 min read · 29 Mar 2026
River by Yayoi Kusama sold for $280,200. Image courtesy of Phillips
A work by Yayoi Kusama was the headline sale at Phillips 'Modern & Contemporary Art' auction on March 29 in Hong Kong.
- The sale totaled $4.97m (HKD38.93m), meeting the pre-sale estimate.
Snapshot of the sale
- 87 works sold totaling $4.97m.
- Estimates totaled: $4.48m (low) and $7.11m (high), excluding premiums.
- The sell-through rate was 77% of the original 113 lots announced.
The star lot was: Yayoi Kusama, River (1994), which sold for $280,200, 56% above its $178,600 low estimate. It has been traded once in the past.
Horse and Acrobat by Sanyu sold for $85,700 (459% above estimate). Image courtesy of Phillips
The outperformer sold for 459% above its low estimate. Sanyu, Horse and Acrobat (1929), sold for $85,700 ($15,300 low estimate). It has been traded 4 times in the past.
- 36 works, or 41%, sold above their high estimate.
- 43 works, or 49%, sold within their low and high estimate.
- 8 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
20 works were bought-in, including: Ju Ming, Taichi Arch (1990), estimated at $114,800 (low) to $153,100 (high). It has been traded once in the past.
Withdrawn before the sale
6 works were withdrawn before the sale, including: Zao Wou-ki, Untitled (1951), estimated at $255,100 (low) to $382,700 (high).
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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.
Get the HENI News Daily Art Digest delivered to your inbox