Sotheby's sale of 20th Century Chinese art performs well

Sotheby's HK's sale of 20th Century Chinese Art sale  achieved 90% sold by lot and 85.5% sold by value.

Highlights included Sanyu’s Potted Chrysanthemums, which sold for $3.96 million (a touch above its estimate of  $2.6 – 3.8 million, and Chu Teh-Chun’s Complexité Hivernale, which sold for $2.8 million to more than double its presale estimate.

Zao Wou-Ki’s 22.3.61 achieved $1.95 million, far exceeding the estimate of $1.3 – 2 million. Wu Dayu’s Untitled - 37 brought over $1.16 million, multiples of its estimate and setting an auction record for the artist

In addition to these  masters of 20th Century Chinese Art, this season Sotheby's  introduced 11 lots by David Wu Ject-Key, an often neglected artist who had been one of the earliest Chinese artists to study abroad, having spent time in North America. Collectors responded well and nearly all of the works on offer brought far above their pre-sale estimates.