Zao Wou-Ki Leads Christie's $12.94m '20th Century Day Sale' in Hong Kong
3 min read · 29 May 2024
08.02.64-26.01.71 by Zao Wou-ki sold for $2.68m. Image courtesy of Christie's
A work by Zao Wou-ki was the headline sale at Christie's '20th Century Day Sale' on May 29 in Hong Kong.
- The sale totaled $12.94m, meeting the pre-sale estimate.
Snapshot of the sale
- 79 works sold totaling $12.94m.
- Estimates totaled: $9.5m (low) and $14.96m (high), excluding premiums.
- The sell-through rate was 88% of the original 90 lots announced.
The star lot was: Zao Wou-ki, 08.02.64-26.01.71 (1964), which sold for $2.68m, 74% above its $1.54m low estimate. It has been traded 6 times in the past.
The outperformer sold for 700% above its low estimate. Nguyen Tu Nghiem, Ancient Dance (1966), sold for $129,000 ($15,400 low estimate). It has been traded once in the past.
Breakdown of results against auction house estimates that are disclosed
- 44 works, or 56%, sold above their high estimate.
- 29 works, or 37%, sold within their low and high estimate.
- 6 works, or 8%, sold below their low estimate.
- 0 sold with undisclosed estimates.
Guaranteed sales
No sales had a guarantee.
Works that did not sell
11 works were bought-in, including: Ju Ming, Living World Series - Human Practicing Taichi Boxing (1981), estimated at $333,100 (low) to $448,400 (high). It has been traded 3 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Withdrawn before the sale
0 works were withdrawn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. 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Withdrawn: This happens when a seller decides, for whatever reason, to withdraw a work before the bidding begins.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.