Japanese and Korean Art Totals $8,848,618
Market trends
NEW YORK- Christie’s Japanese and Korean Art sale kicked off Asian Art Week by surging past the sale’s high estimate, totaling $8,848,618 on the strong results across the board for traditional and contemporary works, ceramics, prints, and more. The Korean section saw especially competitive bidding, especially for Celadons from the David and Nayda Utterberg Collection, which almost all soared past their high estimates, and a spectacular Moon Jar that fetched seven figures. Overall, the sale was 86 percent sold by lot, and 167 percent sold hammer and buyer’s premium above low estimate. In a sign of the continuing strength of the category, 18 percent of buyers and bidders were new, and 15 percent of the buyers were Millennials. The Head of Christie’s Japanese and Korean Department, Takaaki Murakami, said: “We are proud to have achieved excellent results in a sale that mixed contemporary with traditional, and offered so many of the styles and genres of Japanese and Korean art.” The top lot was an Important White Porcelain Moon Jar, which made $2,833,000, continuing Christie’s preeminence in selling these icons of Korean culture. Once again, an impression of Katsushika Hokusai’s Great Wave led the Japanese section making $882,000 and more than doubling its low estimate. An important Japanese cypress-wood figure of the Dainichi Nyora from the late 12th century also more than doubled its low estimate bringing $630,000, and a Korean Joseon Dynasty Blue-and-White Porcelain Jar made $302,400.
