Hong Kong, 27 May , 2025 - 100% Sell-Through for Chinese Contemporary Artists Born in the 1970s–1990s Reflects Strong Market Demand

Sale Total: HK$78,732,630/ US$ 10,046,284

Lots Sold: 92 | Lots Offered: 106

Sold by Lot: 87 % | Sold by Value: 87 %

Cindy Lim, Head of Evening Sale, Modern & Contemporary Art, Phillips Hong Kong, and Rebecca Hu, Head of Sale, Modern & Contemporary Art, Phillips Hong Kong, jointly said, “In response to current market dynamics, we have adopted a nimbler approach for this season’s sale. The sell-through rate for the sale was a healthy 87% by volume and value, which underscores the strength of our curatorial strategy, emphasizing fresh-to-market works that resonated with discerning collectors. Leading the auction was George Condo’s 'Blues In F' from his acclaimed 2020 Blues Paintings series, which achieved nearly HK$14 million / US$1.8million.

Works by Chinese contemporary artists—particularly those born between the 1970s and 1990s, including Xia Yu, Yan Bing, Jia Aili, Wei Jia, Ding Shilun, Li Hei Di, Zhang Zipiao, Wang Xiyao, and Fang Yuan—achieved a 100% sell-through rate. These artists drew strong interest and competitive bidding, with many works surpassing their pre-sale estimates. The sale also underscored the enduring strength of Chinese Modern art, with outstanding results achieved for works by Wu Guanzhong and Sanyu.

We also witnessed promising global participation, with bidders from 43 countries, and are particularly pleased that Mainland China emerged as the top buying region for the sale. We now look ahead to our Hong Kong Fall Auctions of Modern & Contemporary Art, which will be brought forward to the first week of October.”

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Top 10 Lots Lot Description Estimate Price Achieved

- Lot 9: George Condo, Blues In F, 2021, HK$12,000,000 - 20,000,000 (US$1,540,000 - 2,560,000), Sold for HK$13,760,000 (US$1,755,776)

- Lot 27: Wu Guanzhong, Springs and Autumns, 1994, HK$3,800,000 - 4,800,000 (US$487,000 - 615,000), Sold for HK$4,826,000 (US$615,798)

- Lot 11: Rashid Johnson, Untitled Escape Collage, 2017, HK$3,500,000 - 5,500,000 (US$449,000 - 705,000), Sold for HK$3,810,000 (US$486,156)

- Lot 7: Hernan Bas, Case study (Harvey, Palmist/glove collector), 2014, HK$3,000,000 - 5,000,000 (US$385,000 - 641,000), Sold for HK$3,429,000 (US$437,540)

- Lot 28: Zao Wou-Ki, 07.04.59, 1959, HK$2,500,000 - 3,500,000 (US$321,000 - 449,000), Sold for HK$3,302,000 (US$421,335)

- Lot 13: Li Chen, Avalokitesvara, 1999, HK$1,500,000 - 2,000,000 (US$192,000 - 256,000), Sold for HK$2,413,000 (US$307,899)

- Lot 37: Yayoi Kusama, Infinity (C), 1986, HK$1,500,000 - 2,500,000 (US$192,000 - 321,000), Sold for HK$2,286,000 (US$291,694)

- Lot 5: Izumi Kato, Untitled, 2022, HK$1,800,000 - 2,800,000 (US$231,000 - 359,000), Sold for HK$2,159,000 (US$275,488)

- Lot 15: Jia Aili, Untitled, 2008, HK$ 1,500,000 - 2,000,000 (US$192,000 - 256,000), Sold for HK$2,032,000 (US$259,283)

- Lot 43: Javier Calleja, The Dream You Dream, 2022, HK$1,800,000 - 2,800,000 (US$231,000 - 359,000), Sold for HK$2,032,000 (US$259,283)

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New Auction Records

- Lot 91: Vickie Vainionpää, Rigid and Curved 02 , 2023 HK$40,000 - 60,000 US$5,100 - 7,700 HK$177,800 US$22,687

*previous record price: HK$120,650 set in 2024 Exchange Rate on 27 May 202 5 : HK$1= US$ 01276.

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(Press Release)