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Home » Blog » Poly Auction Hong Kong Spring Auctions 2024 Officially Concludes

Poly Auction Hong Kong Spring Auctions 2024 Officially Concludes

HONG KONG SAR – Media OutReach Newswire – 12 April 2024 – On April 9, Poly Auction Hong Kong Spring Auctions 2024 successfully concluded at the Grand Hyatt Hotel in Hong Kong. The auction achieved a satisfactory total sales amount of HKD292 million, with a total sale of nearly HKD330 million including private sales. This season saw robust performances in nine special sales presented by four departments, with unprecedented enthusiasm from collectors and strong bidding activities. Among them, four highly anticipated special themed sales were hosted by Chinese Ceramics and Works of Art, achieving high prices of over HKD10 million for three highlight lots. The magnificent carved celadon-glazed ‘archaistic’ vase from the Qianlong period from the “Stellar Effulgence: The Wang Xing Lou Collection of Imperial Qing Dynasty Porcelain” sale reached the highest sales total of HKD24 million. The Modern and Contemporary Art department achieved remarkable results, with Yayoi Kusama’s Red Pumpkin leading the sale with a sold price of HKD18 million. In addition, a series of highlight lots sold for several times their estimated prices, such as Izumi Kato’s Untitled and Sha Qi’s Emerald Beauty of Spring.

The Chinese Paintings and Calligraphy department also concluded successfully, with Zhang Daqian’s Misty Clouds at Mount Ali, created when the artist was 82, taking the top spot with a sales amount of HKD10.8 million. Another leading lot in the department, Gu Yanshou’s Calligraphy in Regular Script, sparked intense bidding among buyers and sold for HKD9.72 million. Wang Hui’s Snowy Landscape, featuring brushwork of the Yuan Dynasty and style of the Song Dynasty, achieved a sales amount of HKD2.496 million, showcasing a masterpiece that combines the essence of ancient styles. The Spring Auction also introduced a special sale titled “Unique Existence in True Void: The Highlights of Buddhist Art” in which Dong Qichang’s Calligraphy in Running Script sold for HKD2.16 million, far exceeding the high pre-auction estimate.

From the “Magnificent Jewels” sale, the leading lot, a 5.02-carat Fancy Pink Diamond and Diamond Ring, sold for HKD13.2 million. In the “Important Watches” slae, an exceptionally fine and rare 18k white gold Patek Philippe Nautilus perpetual calendar wristwatch Ref. 5740/1G, reached the top of the watches sale with a price of HKD1.74 million. The “Noble Handbags & Hype Collectibles” sale achieved solid results as well, the most sought-after item being the Limited-Edition Hermès Mauve Sylvestre, Chai, Nata & Lime Epsom Leather Kellydole Picto with Palladium Hardware, selling for over HKD450,000.

The mobile App and online bidding system of Poly Auction Hong Kong have witnessed enthusiastic bidding activities from collectors around the world, including Southeast Asia, the Middle East, Japan, Korea, the United Kingdom, the United States, and more. In order to track the collecting trends and satisfy the unique preferences of collectors locally and abroad, Poly Auction Hong Kong is excited to announce a significant milestone in business expansion with the launch of an official eShop, which allows collectors to easily browse and bid on a wide range of global sales items anytime and anywhere.

This Spring, Poly Auction Hong Kong again hosted the Masterpieces Appreciation and Guided Tours. During the tour, specialists at Poly Auction Hong Kong guided the guests in the exhibition venue, introducing them to a wide range of masterpieces of high investment and collectible value. Specialists from each department analyzed the art market overview and trends from a professional point of view, aiming to provide the guests with a better understanding of the art auction market through art appreciation, thereby helping the guests to cultivate and build a potential and personalized collection system, with the end goal of expediting the development of the Asian art collection community. Furthermore, Poly Auction Hong Kong collaborated with well-known institutions and industry professionals on the Masterpieces Appreciation and Guided Tours this season. The guest speakers shared their views on art appreciation, collection, and investment from diverse angles with guests.

Poly Auction Hong Kong’s Modern and Contemporary Art sale this spring achieved a strong sell-through rate of approximately 92% by lot and realized over 6.782 million. Works by some of today’s most popular international contemporary artists, 20th-century masters, and a well-curated lineup of Chinese contemporary artists all achieved outstanding results. Leading this sale was Yayoi Kusama‘s Red Pumpkin, which sold for a staggering HKD18 million, exceeding its high estimate by 2 times, and claiming the highest sales record for this department. Red Pumpkin is known for captivating viewers with its anthropomorphic characteristics: the vibrant fruit adorned with Kusama’s signature polka dots creates a sense of rhythm. Red Pumpkin even set a record for Kusama’s pumpkin-themed works of the same size. Yoshitomo Nara‘s milestone work, Cup Kids, created using fiberglass-reinforced plastic (FRP), sold for HKD7.08 million. There are a total of seven pieces in the Cup Kids series and, one piece entered the Shanghai Long Museum’s collection and the remaining remain in private collections, thus will rarely be seen on the market. Léonard Tsuguharu Foujita‘s Roses in a Vase, created in 1952, achieved an impressive HKD3.84 million this Spring Sale. Featuring an array of flowers set against the artist’s characteristic milky-white background, Foujita portrays a moving story of life from bud to full bloom that resonated with collectors.

This season’s Modern and Contemporary Art sale also showcased classic and representative works of Chinese contemporary artists, achieving a sell-through rate of 91.7%. Highlights of the auction include Zhang Enli‘s The Forest (2) and Huang Yuxing‘s Welcoming Pine, both of which achieved an impressive HKD3.6 million and HKD3.06 million respectively. The sale achieved other remarkable sales, such as Izumi Kato‘s Untitled, which changed hands for HKD720,000, 3 times its high estimate, and Sha Qi‘s Emerald Beauty of Spring, which sold for around 6 times its high estimate, fetching HKD2.28 million.

Poly Auction Hong Kong’s Chinese Ceramics and Works of Art department meticulously organized four themed sales for the Spring Auction generating a total sale of approximately HKD 110 million. The highly anticipated single-owner sale, “Stellar Effulgence: The Wang Xing Lou Collection of Imperial Qing Dynasty Porcelain,” achieved a total sale of HKD 37.02 million. The leading piece, a magnificent carved celadon-glazed ‘archaistic’ vase, Qianlong mark and of the period, fetched HKD 24 million. This is also the highest sold price in the ceramics and works of art category in Hong Kong’s auction market this April. A Qianlong mark and period blue and white porcelain ‘archaistic’ hu-form vase and cover with ‘lotus scroll and eight Buddhist emblems’ design sold for HKD 5.4 million. The sale also saw several items far exceeding their estimated values. A pair of Kangxi mark and period eggshell white-glazed ‘gold-rim’ winecups, after an intense bidding war lasting 11 minutes, sold for HKD 2.76 million – surpassing four times the low estimate. Similarly, a Yongzheng mark and period Ge-type pear-shaped vase sold for HKD 2.7 million, exceeding three times the low estimate.

The “Important Chinese Works of Art” sale featured three top-selling lots in the categories of lacquerware, cloisonné, and porcelain. The highest transaction was achieved by a rare and important cinnabar lacquer ‘grapes’ dish carved in high relief from the Yuan dynasty, which sold for HKD 11.4 million, claiming the top spot in this sale. Its unusual begonia form is rarely seen on Yuan Dynasty lacquer dishes. The dish features a double-layered carving of intertwining grape motifs and exhibits a style that predates the Yongle carved cinnabar lacquer ‘grapes’ dish in the collection of the Palace Museum, making it exceptionally rare. Moreover, other notable lots include a large and impressive cloisonné enamel ‘dragon’ vase, tianqiuping, from the Yongzheng/Qianlong period, which achieved a sold price of HKD 6.48 million, while a rare small famille-rose green-ground moonflask, Qianlong mark and of the period, sold for HKD 2.88 million.

In the sale titled “Ethereal Attainment: Floral, Tea and Religious Artistic Treasures,” an important archaic bronze ritual wine vessel, zun, from the late Shang to early Western Zhou dynasty took the lead and set a remarkable record of HKD 12 million. This piece, accompanied by well-documented provenance and literature, perfectly encapsulates the spiritual essence of bronze ritual vessels from the Shang and Zhou dynasties. Additionally, an extremely rare and fine famille-rose ‘peony’ vase with imperial inscription from the Qianlong period sold for HKD 6.36 million. A pair of sacrificial blue glazed and gilt-decorated famille-rose ‘birds and flowers’ vases fetched over seven times the low estimate, achieving HKD 2.16 million after multiple rounds of intense bidding.

Lastly, in the “Selected Chinese Works of Art from the Ten-Views Lingbi Rock Retreat Collection” sale, a ruby-pink glazed chrysanthemum dish from the Yongzheng period achieved an impressive result of HKD 3 million, which equals three times the low estimate.

The Chinese Paintings and Calligraphy department brought together exquisite works of calligraphy and renowned artists from various dynasties, including the Song, Yuan, Ming, Qing, and modern periods, with total sales amounting to nearly HKD60 million. The highlight of the sale was Zhang Daqian‘s Misty Clouds at Mount Ali, created when he was 82 years old. After a fierce bidding war lasting 15 minutes, it was sold for HKD10.8 million. Rich in color and with a serene and lush atmosphere, the work depicts an ethereal sea of clouds and mist swirling among the mountains, showcasing Daqian’s mastery in portraying the essence of reality and illusion.

Ancient calligraphy and paintings also garnered significant attention at the auction. Gu Yanshou’s largest surviving work, Calligraphy in Regular Script was sold for HKD9.72 million. Wang Hui’s Snowy Landscape was sold for HKD2.496 million, combining the brushwork of the Yuan dynasty, the landscapes of the Song dynasty, and the artistic charm of the Tang dynasty. Wang Yuanqi‘s Landscape After Yuan Masters, with an inscription by Xu Bangda, known as the top expert in Chinese painting authentication, achieved an impressive result of HKD1.8 million. Moreover, Dong Gao‘s Admiring the Moon Under the Shade sold for HKD1.08 million, surpassing the low estimate by twice, and it is recorded in a historically important book by John Calvin Ferguson.

The Spring Auctions also introduced a unique collection titled “Unique Existence in True Void: The Highlights of Buddhist Art” in which Dong Qichang‘s Calligraphy in Running Script sold for for HKD2.16 million, far exceeding the highest pre-sale estimate. In addition, over 20 fan-themed items were all sold at good prices, with Zhang Daqian, Qi Baishi, Chen Shaomei, and Tao Lengyue‘s works surpassing the expected estimates. Further successes included Shen Zhou‘s Calligraphy in Running Script which sold for HKD720,000, nearly 5 times the high estimate, while Chen Shaomei and Jin Liang‘s fan work, Lady Writing Under the Tree and Calligraphy in Bronze Script and Feng Zikai‘s Family Together Viewing Sunrise were all sold for several times their estimates.

Poly Auction Hong Kong’s Jewels, Watches, and Handbags department marked a good start to this year’s luxury goods auction, achieving a total of over HKD57 million across three dedicated sales. The “Magnificent Jewels” sale was led by a 5.02-carat Fancy Pink Diamond and Diamond Ring, fetching HKD13.2 million. The pink diamond boasts an exceptional color grade, achieving GIA’s ‘Fancy Pink’ category, and exceeds 5 carats in weight. This winning lot’s pure and intense pink color exhibits a captivating vibrancy, complemented by a pear-shaped cut and simple setting. Following a session of intense bidding, an 11.04 Carat Mozambique Ruby and Diamond Ring achieved a final sold price of HKD5.64 million, affirming the unwavering position of rubies in the colored gemstone market. Moreover, a Jadeite and Diamond Ring also achieved an excellent result of HKD4.56 million following multiple rounds of bidding.

The “Important Watches” sale presented top-tier brands such as Patek Philippe, Rolex, and other notable antique timepieces to collectors. The highlight of this auction was an exceptionally fine and rare 18k white gold Patek Philippe Nautilus perpetual calendar wristwatch Ref. 5740/1G, which sold for HKD1.74 million. This model is the first timepiece in the Patek Philippe Nautilus series featuring an automatic perpetual calendar function. Another notable lot, an exquisitely crafted and rare 18k gold, Diamond and Ruby-set Rolex Day-Date 40 wristwatch, Ref. 228398TRU, achieved an impressive result of HKD1.44 million. Following closely, a fine platinum Rolex automatic chronograph wristwatch with an ice blue dial, Daytona Model, Ref. 116506, sold for HKD600,000. Launched by Rolex to celebrate the 50th anniversary of the Daytona model, it not only features a revolutionary ice-blue dial but is also the first Daytona in platinum which has attracted the attention of many collectors.

From the “Noble Handbags & Hype Collectibles” sale, a limited-edition Hermès mauve sylvestre, chai, nata & lime epsom leather Kellydole Picto with palladium hardware sold for over HKD450,000.
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About Poly Auction Hong Kong

Poly Auction (Hong Kong) Limited, (Poly Auction Hong Kong), established in 2012 by Poly Culture Group Corporation Limited, is a young but remarkable auction house in Hong Kong. Beijing Poly International Auction, a subsidiary of Poly Culture Group, is the largest auction house in China and holds the highest auction transaction volume of Chinese art globally.

Poly Auction Hong Kong has five departments: Modern and Contemporary Art, Fine Chinese Paintings and Calligraphy, Chinese Ceramics and Works of Art, Jewels, Watches and Handbags, Rare Wine, Whisky. With a professional team of specialists in each department, Poly Auction Hong Kong is strived to provide excellent and professional service of complimentary valuation, private sale and auction services to our vast collectors.

Since its debut auction in 2012, Poly Auction Hong Kong has been holding auctions and continue to set new records for artists, art pieces and artwork categories. In 2021, Poly Auction Hong Kong concluded with an impressive HKD 2.6 billion in total sales. In the first three quarters of 2022, Poly Auction Hong Kong achieved a remarkable auction sales total of HKD 1.63 billion. In July, Poly Auction Hong Kong 10th Anniversary Auctions proudly presented the first ever Evening Sale, successfully pulled off a white-glove sale, realising a total grand sale of over HKD 410 million.

In addition to auction events, Poly Auction Hong Kong is also committed to promoting art, culture and technology through exhibitions and events with leading artists, curated auctions with celebrated collectors and artists, online sales and NFT digital art auctions in recent years.