The most expensive art works by Chinese artists sold

From classical fine art pieces to modern and contemporary masterpieces, Chinese artists are leading the charge at major auctions this fall.

Hong Kong enjoys the stature as a leading international art market in Asia and across the world, alongside New York and London. The city boasts of a diversity of art spaces, prestigious auction houses and exhibitions, including the internationally-acclaimed Art Basel, which opens a very wide window for international attention to be trained on Chinese artworks, a distinct phenomenon in recent years.

The most expensive art works by Chinese artists sold this October gafencu magazine Liu Ye florence — Florence by Liu Ye

Rise of contemporary Chinese art

Although Chinese art enjoys a long history and innovative techniques that date back to the stone age, it only started gaining international attention at the end of the 20th century. Contemporary Chinese art, as well as antique Chinese art, is now a fast-growing category that enjoys growing global attention and interest.

The most expensive art works by Chinese artists sold this October gafencu magazine zhang xiaogang amnesia and memory no 1 — Amnesia and Memory no. 1 by Zhang Xiaogang

A case in point is the sale of Amnesia and Memory No. 1 by contemporary artist Zhang Xiaogang whose works often explored identity in China. The eight-feet-tall oil on canvas was part of The First Avant-garde: Masterworks from the Johnson Chang Collection and was sold at at Sotheby’s contemporary Art Day Sale on 7 October for HK$6 million — significantly exceeding the pre-sale estimate of HK$4.2 million. As an artist who witnessed an era of the Cultural Revolution across the stronghold of the Communist party, and often exploring his identity in China, Zhang’s art piece represented expression of individual memory and its place within a collective identity.

The most expensive art works by Chinese artists sold this October gafencu magazine chinese calligraphy Pu Ru — Chinese calligraphy by Puru

Value of Traditional Chinese art

Like its European counterpart, Chinese art is valued for the purpose, material and theme of the piece, as well as, the artist’s social stance. Traditional Chinese literary arts have been created by scholars and literary elites who also practised calligraphy. To qualify as a scholar painter, one had to pass a strict examination set by the emperor. This makes traditional Chinese paintings even more rare and respected.

The most expensive art works by Chinese artists sold this October gafencu magazine endless streams and mountains by wang hui — Endless streams and mountains by Wang Hui

The fine classical painting, Endless Streams and Mountains, by Wang Hui (1632-1717) went under the hammer for HK$28.9 million, representing more than five times the high end of the estimated price of HK$5 million. The painting is one of only five that Wang has painted in his lifetime. It is an extremely rare handscroll, ink and colour on paper. Two of his paintings are currently preserved at museums, while two others are in an unknown location. Pieces like these are unique, especially before the rise of the ‘Individualist’ painters who opposed traditional rules in painting. His artworks represent Chinese history which can only be revisited in visual representations and physical materials which make them very rare and valuable.

The most expensive art works by Chinese artists sold this October gafencu magazine ren renfa five drunken princes riding on horseback — Five drunken princes ride on horseback by Ren Renfa

An astonishing art piece that found its way to Christie’s Fine Classical Chinese Paintings auction block on 8 October was the extremely old and valuable six-foott scroll painting, Five Drunken Princes Returning On Horseback by Ren Renfa (1255-1328), an artist and government official during the Yuan dynasty. It sold at Christie’s Chinese Paintings and Calligraphy Auctions on 8 July for HK$307 million though estimated price was only between HK$80 to $120 million. It has been documented in imperial collections and features a collection of seals, including those of several emperors.

The most expensive art works by Chinese artists sold this October gafencu magazine zhang daqian ancient pine in lush mountainscapes — Ancient pine in lush mountainscapes by Zhang Daqian

Modern Chinese painting heralds diversification

With globalisation prompting all things Chinese to move outside China after world war II, Western influences are making their way increasingly into Chinese culture and arts. While traditional Chinese paintings were mostly done in black or coloured pigments, modern artworks are presented in a combination of oil and ink on canvas.

The most expensive art works by Chinese artists sold this October gafencu magazine wu guanzhong scenery of northern china — Scenery of northern China by Wu Guanzhong

Wu Guanzhong (1919-2010), one of the greatest contemporary Chinese painters, is also regarded as the founder of modern Chinese painting. His works feature a mix of Western and Eastern techniques — marked by the fusion of oil and Chinese ink painting. He travelled to Paris to study art at the prestigious Ecole Nationale Supérieure des Beaux-Arts after world war II. His masterpiece, Scenery of Northern China, sold for a whopping HK$151 million at Sotheby’s Modern Art Evening Sale on 5 October. The six-meter-wide mural, assigned by the Central Academy of Craft Art, has been commissioned for Beijing’s Capital Airport, which at the time was of great importance for the optimism and pursuit of new opportunities after the cold war in 1978. The painting marked Wu’s contribution to the massive and historic national art program.

Royal Shine: Mughal treasure revealed at Maharajas & Mughal Magnificence auction

As the second-most-valuable private jewellery collection ever to go under the gavel, Christie’s Maharajas & Mughal Magnificence auction, held earlier this summer in New York, fetched a staggering US$109 million in total. While the gem-studded event certainly featured some truly remarkable haute joaillerie designs, one particular item deserves special mention – The Mirror of Paradise diamond ring.

While its third appearance on the auction block saw it fail to meet its pre-sale estimate of US$7-10 million, it still fetched a wholly respectable sum of US$6.52 million, thanks in no small part to the gargantuan gem that fronts this Mughal-era platinum creation.

Weighing in at 52.58 carats, the baguette-cut, D-colour, Internally Flawless, Type IIa white diamond gracing its fascia was mined in southern India’s renowned Golconda region. Golconda mines bear the unique distinction of producing diamonds without any nitrogen, a characteristic that imbues its precious stones with superb luminosity and impeccable purity. So sought-after are these gemstones that its several of its other products have become world-famous in their own right, including the Koh-i-Noor, which now languishes in the British crown jewels collection, and the Hope Diamond, now on display at the Smithsonian Institute in Washington DC.

Gems of the Ganges revealed at Christie’s Maharajas and Mughal Magnificence auction

Boasting a staggering array of bejewelled mementos once owned by members of India’s ruling classes, the Christie’s Maharajas and Mughal Magnificence auction was always going to be something truly special.

A a 1912 Belle-Époque Diamond Devant-de-Corsage Cartier Brooch

Hosted at the auctioneer’s New York office, the marathon 12-hour sale raked in a total of US$109 million, making it the second-most valuable private collection ever to go under the gavel – outdone only by the 2011 sale of the gems that once belonged to Elizabeth Taylor, that most beguiling of screen goddesses.

The lead item this time round was a 1912 Belle-Époque Diamond Devant-de-Corsage Cartier Brooch. Eventually sold for US$10.6 million, the horseshoe-shaped, diamond-draped creation featured two wholly unique gemstones – a brilliant-cut, D-colour, 34.08-carat diamond and an oval-shaped 23.55-carat diamond.

Among the other highlights of the sale were a dazzling Antique Imperial Spinel, Pearl and Emerald Necklace, which went for an eminently respectable US$3 million, and a gem-studded Jigha turban ornament and the The Taj Mahal Emerald brooch – both of which attracted winning bids of US$1.815 million.

Money Bunny: Jeff Koons’ Rabbit shatters records

Since bursting upon the art scene back in the ’80s, American artist Jeff Koons has been no stranger to controversy. Indeed, his ostentatious artworks have long been decried and celebrated in equal measure. All the controversy surrounding his sundry creations has, of course, only driven up their value. A clear case in point is his Balloon Dog (Orange) – a stainless steel sculpture of a toy balloon dog – which sold for US$58.4 million in 2013, the then-record for any auctioned artwork produced by a living artist.

Now, that record has been shattered and by yet another of Koons’ animal-inspired creations – a 41-inch stainless steel sculpture simply known as Rabbit. Completed in 1986, this cartoonish figure is widely regarded as one of the most iconic examples of 20th-century art, hailed as being exuberant and celebratory by his admirers, while dismissed as vacuous and disposable by his many detractors.

Regardless of its artistic value, none can deny its monetary worth, with this best-in-show bunny snagging US$91.1 million at a recent Christie’s auction, surpassing the US$90.2 million record set last November by David Hockney and reaffirming Koons’ reputation as a genius cash-generating creative talent.

Unfinished sketch by David Hockney fetches US$90.3 million

Even David Hockney, that most celebrated of British Pop Art painters, couldn’t have envisaged so fanciful a notion as a canvas he left incomplete some 47 years ago one day commanding a record sum at auction, while being universally hailed as a modern-day masterpiece. Inconceivable or not, fact has outpaced fancy, with Portrait of an Artist (Pool with Two Figures), the unfinished fine art-ery in question, fetching a truly monumental winning bid of US$90.3 million (HK$706 million) when it came up for auction at Christie’s New York.

Bidding for this half-finished Hockney opened at a more-than-respectable US$18 million, before rapidly soaring to US$90 million, a figure some US$72.3 million higher than its clearly conservative reserve. Pretty much in one bound, this established Hockney’s experimental piece as one of the high-water marks of post-World War II creativity, while catapulting the artist himself to the all-time pantheon of preeminent painting practitioners. One can only wonder how much it would have fetched had David Hockney ever actually deigned to complete his design.

Photos: Renaud Camus

Aston Martin 2014 Centenary Edition Vanquish reaches 007th gear in auction

As any true James Bond aficionado will happily testify, rather than titillating moviegoers with wanton violence or low-cut cleavages, the truly pornographic content of the 007 franchise comes in the form of its sleek, sexed-up supercars, vehicles that give a whole new meaning to auto erotica. Of late, the most car-horny of these sultry saloons has been the bespoke, midnight-blue Aston Martin 2014 Centenary Edition Vanquish currently owned by Daniel Craig, the premium Bond du jours.

Imagine then the erotic frisson occasioned among fans when this particular Bond buggy was announced as the centrepiece of Exception, a unique, one-off auction event staged by Christie’s New York earlier this year. With its inevitable ‘007’ number plate and the added bonus of a Craig-signed plaque, the road-ready ‘mint condition’ car was initially tipped to go for US$400,000 but, in the end, the winning bid – courtesy of an anonymous buyer topped US$468,500.

Upping the vehicle’s coveted quotient even higher is the fact that the ‘Centenary Edition’ is strictly limited to only a 100 cars, with each boasting a unique graduated paint finish and sterling silver Aston Martin wings. This particular Aston Martin Centenary Edition Vanquish was further customised based on Daniel Craig’s personal preferences; hence, the deep-blue, hand-stitched leather interiors – keeping in mind the actor’s favourite colours, a leather box of accessories, including Bang & Olufsen earphones in leather pouch, silver Aston Martin cufflinks and a silver roller-ball pen.

All proceeds went to The Opportunity Network, a charity dedicated giving a fresh chance to disadvantaged youngsters across the US, an initiative supported by both Craig and Rachel Weisz, his British-born actress wife.

Text: Suchetana Mukhopadhyay

Boney China: Napoleon’s dessert set serves up a slice of history

Once one of the few household items the exiled Napoleon was permitted to carry with him to Elba, the island that was briefly his home following his forced abdication, this Marly Rouge dessert set was an unwitting witness to many of the most turbulent events in European history. Unsurprisingly, then, it proved the star turn at the recent auction of the Rockefeller Collection by Christie’s New York.

Originally commissioned by Napoleon for his Palace in northern France, this exquisite dessertware was ultimately delivered to Fontainebleau Palace, just outside Paris, in October 1809, at a time when Napoleon was negotiating the grueling nitty-gritty of the Treaty of Vienna that led to the end of hostilities between Austria and France.

It is also during this time that Napoleon announced his divorce to Empress Josephine for being unable to bear him an heir. Despite or maybe due to its association with Josephine, the Service Marly Rouge found its way into Napoleon’s household in exile at Elba five years later.

Today, only one gilt-dolphin-footed compote and six plates from the original 256-piece set remain at Fontainebleau, with the rest divided among a number of international collectors. As a result, this 22-piece selection – acquired by Abby Rockefeller – provides the best glimpse of the true glory of the collection when it was first set before an emperor.

Patek Philippe: Monarch’s minute monitor makes its debut at auction

This particular Patek Philippe watch that was auctioned at Christie’s Dubai last month was truly unique in several ways. One of the first perpetual chronograph watches ever made by Patek Philippe, its historic value was upped still more by the fact it was once owned by King Farouk, the penultimate monarch of Egypt and the Sudan and a man who was known for his fondness for all things luxurious – from Rolls-Royce cars to vintage timepieces.

Commissioned by the King in 1945, the 18-carat gold watch – one of only 281 ever made – is the first ‘1518’ edition of the iconic three-dial style that still in production today. Highlighting its significance, John Reardon, Christie’s International Head of Watches, said: “The same design concept still exists on new Patek Philippe watches, but it has gone through five iterations in as many decades, which is why the original 1518 is known today as the great-great-grandfather of the series.”

In what was then considered an unprecedented horological feat, the timepiece incorporated a triple-complication movement, which micro-mechanically counts seconds, minutes, hours, days, months and years. It also includes a moon-face calendar between its two chronograph registers.

It’s the caseback, though, that gives it its royal heritage. Engraved with a crowned ‘F’ on the reverse, complete with a star and a half-moon on the crown (a symbol of the then-Egyptian flag), the watch was believed to be a harbinger of good luck by King Farouk himself. That, however, was probably before he was forcibly deposed in 1952.