Hajime Sorayama Leads Phillips $1.8m Modern & Contemporary Art & Design Sale

A work by Hajime Sorayama was the headline sale at Phillips 'Modern & Contemporary Art & Design Sale' on December 12 in Hong Kong.

• The sale totaled $1.77m (HKD13.78m), meeting the pre-sale estimate.

Snapshot of the sale

• 55 works sold totaling $1.77m.
• Estimates totaled: $1.73m (low) and $2.86m (high), excluding premiums.
• The sell-through rate was 71% of the original 77 lots announced.

The star lot was: Hajime Sorayama, Untitled_Sexy Robot type II floating (2022), which sold for $265,300, 37% above its $192,700 low estimate. It has been traded once in the past.

The outperformer sold for 330% above its low estimate. Minoru Nomata, Bourou-18 (Watchtower-18) (1995), sold for $82,900 ($19,300 low estimate). It has been traded once in the past.

• 20 works, or 36%, sold above their high estimate.
• 28 works, or 51%, sold within their low and high estimate.
• 7 works, or 13%, sold below their low estimate.
• 0 sold with undisclosed estimates.

Guaranteed sales

No sales had a guarantee.

Works that did not sell

19 works were bought-in, including: Chiharu Shiota, State of Being (Boy’s Kimono) (2013), estimated at $102,800 (low) to $154,200 (high). It has been traded 3 times in the past.

Withdrawn before the sale

3 works were withdrawn before the sale, including: Ewa Juszkiewicz, Untitled (Study for 'Girl in Blue') (2013) estimated at $36,000 (low) to $57,800 (high).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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.